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Number of registered professionals in property sector decreasing: CEA

The fall could be a reflection of the property market sentiments, says the Council for Estate Agencies. 

SINGAPORE: The number of registered professionals in the property sector in Singapore has fallen in the past year, according to data from the Council for Estate Agencies (CEA) released on Thursday (Jan 21). 

In the past year, there were 1,299 new salespersons who joined the industry, a decrease from the 3,006 in 2014, CEA said in a news release.

CEA Director of Policy and Licensing Heng Whoo Kiat said the decrease could be a reflection of the property market sentiments.

He added that these salespersons are also probably mindful of the cost of being in the industry: Under CEA’s regulatory framework, they are obliged to commit time and resources to meet the continuing professional development requirements for annual renewal of their registration. New entrants to the industry also have to complete a course and pass a qualification examination, it said. 

Estate agents are estate agency businesses such as sole proprietors, partnerships, and companies, while salespersons are the individuals performing work in them, according to the Estate Agents Act. 

As at Jan 1, 2016, CEA has licensed 1,369 estate agents and registered 29,262 salespersons, while 104 estate agents and 3,573 salespersons have left the industry in total, it said.