Updated: May 11, 2020
For those who wanted a career switch, some have contemplated becoming a qualified property agent in Singapore. Why is this so?
As with most businesses, you need 3 basic things to startup. They are :
Your goods to sell (properties).
Shop (rental space).
The start up costs to become a property agent in Singapore are very low and this is one of the reasons why this career and business looks very attractive.
People : You don't need any staff because the agencies all provide the accounting, admin and legal staff for you.
Goods : You don't need to stock up on inventories because the properties to be sold belong to your clients.
Space : You don't need a physical shop to have a market presence. You just need a virtual one to advertise your listings. The annual subscription is still much lower than a monthly rent of a physical shop.
The first step is always the hardest, but the rest is an amazing adventure - Anup Sapkota
Despite having very low startup costs, the regulatory aspect to enter this industry is very strict. Although the entry barrier is high, it elevates the professionalism and protects new competition.
Formed on 22 Oct 2010 as a statutory board, the CEA (Council for Estate Agents) regulates the workings of the real estate agency industry.
You need to have a Salesperson Licence issued by the CEA before you are allowed to broker for any sales or rental of properties in Singapore.
Before you apply for the licence, here are some pre-qualification Do's and Don'ts that you must comply with.