Singapore Property Agents' Transaction Data Now Available for All Residential Properties
<span style="font-weight: 400;">The Council for Estate Agencies (CEA) has published a complete record of all residential property transactions facilitated in the past 24 months by property agents in Singapore. Prospective buyers and sellers can now view the publicly accessible information on Housin
Published -
Sep 6, 2021 4:25 AM
The Council for Estate Agencies (CEA) has published a complete record of all residential property transactions facilitated in the past 24 months by property agents in Singapore. Prospective buyers and sellers can now view the publicly accessible information on Housing Board flat resale and rental deals, as well as new sales, resales and rentals of private homes. With this, consumers may have "better visibility" of the track records of Singapore's real estate salesmen, said CEA. The move to increase informational transparency comes under its Property Agents' Transaction Records Initiative (TRI). Published on the CEA Public Register, details include when a deal was completed, the property's general location and whether the agent represented the buyer, seller, tenant or landlord. For private housing, the records will also show the type of property - condominium, executive condominium, landed or strata-landed - and whether it was a new sale or resale deal. Rental transaction data will indicate whether the whole unit or a room was leased out. The transaction information for each month will be updated on the 15th of the following month. Records older than 24 months from the date of access are available at government data website. Property agencies are required to submit the residential property transaction records of salesmen to CEA, under the amended Estate Agents Act, and ensure that the information is true and not misleading. As for HDB resale flat transaction records, the public housing authority provides the information directly to CEA for publication. Besides the TRI and CEA Public Register, another initiative under the Real Estate Industry Transformation Map is the Guide on Best Practices for Consumer Ratings of Property Agents. Published in October last year, the guide aims to introduce consistent standards for the rating of property agents based on the key categories of service, professionalism and skills.
Tags : INTERNATIONAL Property residential properties Singapore Transaction data Agents Available