Singapore Gets Tough on Real Estate Market
Coupled with non-existent requirement for qualification test or exam for the job holders, that probably explains the deteriorating service within this real estate industry. With the low entry barrier, the real estate agents make up 30,000 of Singapore's population of 4 million residents.
In response to a market that is fast losing faith on the falling real estate service level indicators, Singapore government announced a multi-pronged approach in its attempt to correct the situation. These proposed solutions are: Industry led accreditation body, Enforcement agency, Dispute Resolution Tribunal.
One significant part of the proposal is compulsory accreditation for all real estate agents. This accreditation body would be headed by industry veterans. And it would make public a central database of agents to conduct background assessment of agents they intend to employ.
The public search would hope that the role of hopping a subject that previously was not known, and stick to the substance with more cards to solve.
An enforcement agency is recommended in the proposal as well. The enforcement agency will be on the look out for errant agents and the responsible agencies. And it will also be responsible for handling out penalty in the form of demerit points.
To the people who are increasingly losing confidence in the current system, it is certainly timely booster. With the founding of the experts who lead real estate dispute settlement tribunal trying conducted a quick resolution of issues related to property and thus save money for everyone involved.
The government would set up the dispute resolution tribunal from its fund initially, but over time, the cost and the responsibility of running it would be handed back to the industry.
If the number of reported complaints, it is expected that the court was convinced, as it begins its work. For this reason, the Government stresses that it is not a substitute for the existing courts in the Agency. This agency level, will meet the court continue its purpose and also as a gatekeeper of the official dispute resolution court.
That could remove at least a few months before the proposal would be implemented in full, and compare their effectiveness. But the government acknowledged that all parties in this dilemma is anxious to improve the current situation and the government would also facilitate the program through public education needs. - 23221
In response to a market that is fast losing faith on the falling real estate service level indicators, Singapore government announced a multi-pronged approach in its attempt to correct the situation. These proposed solutions are: Industry led accreditation body, Enforcement agency, Dispute Resolution Tribunal.
One significant part of the proposal is compulsory accreditation for all real estate agents. This accreditation body would be headed by industry veterans. And it would make public a central database of agents to conduct background assessment of agents they intend to employ.
The public search would hope that the role of hopping a subject that previously was not known, and stick to the substance with more cards to solve.
An enforcement agency is recommended in the proposal as well. The enforcement agency will be on the look out for errant agents and the responsible agencies. And it will also be responsible for handling out penalty in the form of demerit points.
To the people who are increasingly losing confidence in the current system, it is certainly timely booster. With the founding of the experts who lead real estate dispute settlement tribunal trying conducted a quick resolution of issues related to property and thus save money for everyone involved.
The government would set up the dispute resolution tribunal from its fund initially, but over time, the cost and the responsibility of running it would be handed back to the industry.
If the number of reported complaints, it is expected that the court was convinced, as it begins its work. For this reason, the Government stresses that it is not a substitute for the existing courts in the Agency. This agency level, will meet the court continue its purpose and also as a gatekeeper of the official dispute resolution court.
That could remove at least a few months before the proposal would be implemented in full, and compare their effectiveness. But the government acknowledged that all parties in this dilemma is anxious to improve the current situation and the government would also facilitate the program through public education needs. - 23221
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posted by X - Men @ 11:03 AM
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