I REFER to the article, ‘Plans for new group to lift standards of housing agents’ (ST, Feb 4).
Legislation for individual estate agents is already in place in many neighbouring places, for example, Malaysia, Hong Kong, Macau and Australia. Why not a First World country like Singapore?
In 1998, three organisations amalgamated to form the Institute of Estate Agents (IEA). Setting up another association is a pure waste of resources - and gives the impression of a divided and fragmented industry. The best solution is for all to get involved, resolve problems and evolve. Unity, a standard set of self-regulation and self-policing measures are the only way to move forward with IEA.
An accreditation scheme was launched in 2005 to raise industry standards. Clearly, three years on, standards have not improved. Statistics provided by the Consumers Association of Singapore (Case) show complaints against agents continue to rise. The scheme has not solved problems, raised industry standards or injected more confidence among consumers.
If parties are serious about the state of affairs and cleaning up the industry, be it raising standards or information sharing, IEA’s doors are always open. It is more sensible to work together to address and resolve industry problems quickly and resolutely, working on an ability to recommend solutions to meet future challenges. Practitioners should decide what is best for the industry.
Make estate agents responsible and accountable for their actions, especially when they are dealing with consumers’ biggest asset. Over time, with tighter control it will raise industry standards and lead to better service, more discipline and higher professionalism. Eventually, there will be fewer complaints about estate agents.
IEA plays an active role in promoting public awareness and keeping estate agents abreast of the latest housing policies. The IEA Central Registration Scheme is supported by more than 354 licensed real estate agencies with well over 21,000 real estate agents’ names. It also acts as a platform for IEA to disseminate information and exchange programmes with agency bosses.
IEA and Case are presently working closely to provide solutions towards self-regulation of estate agents and setting up self-policing measures. It is time we stood together and united as one body that truly looks after the interests of all estate agents and that of consumers who engage the services of estate agents in Singapore.
Jeff Foo President, Institute of Estate Agents
Source : Straits Times - 15 Feb 2008
