Post by : Badri Ariffin

Singapore will introduce stricter renewal requirements for property agents from January 1, 2027, requiring them to complete at least three property transactions within a three-year registration period or pass a refresher examination to remain eligible for registration renewal.

The changes were announced by Senior Minister of State for National Development and Transport Sun Xueling during the Singapore Estate Agents Conference on July 28. They form part of a broader review by the Council for Estate Agencies (CEA) to improve professional standards, strengthen transparency, and provide consumers with greater confidence when engaging property agents.

Alongside the new transaction requirement, the validity period for property agent registrations and agency licences will be extended from one year to three years.

Why the New Requirement Is Being Introduced

Speaking at the conference, Sun Xueling said consumers should be able to trust that the advice provided by property agents reflects the latest property rules and regulations.

She noted that while many agents continue to upgrade their knowledge, remain active in the market, and serve clients professionally, feedback had raised concerns about whether agents who had not completed transactions for long periods remained up to date with industry changes.

According to a CEA spokesperson, as of January 1, 2026, around 12,920 agents, or 40% of the 32,967 agents registered since 2023, had not completed at least three residential transactions between 2023 and 2025.

During the same period, the median number of residential transactions completed annually by each agent was two.

Agents Must Meet Transaction Target or Pass Exam

Under the new currency requirement, property agents who fail to complete the required three transactions over the three-year registration period must pass a refresher examination to renew their registration.

Agents who do not meet the transaction requirement and also fail the examination will have to leave the industry. If they later wish to return, they will need to pass the Real Estate Salesperson examination.

As of July 1, 2026, Singapore had 38,162 registered property agents and 1,018 registered property agencies.

Consumer Expectations and Industry Feedback

The policy follows concerns that a considerable number of registered agents may not be actively handling property transactions.

CEA's 2024 Public Perception Survey found that about nine in ten consumers were satisfied with the services provided by their property agents. However, 74% of respondents believed agents should complete at least one property transaction every year to remain registered and stay familiar with current regulations.

CEA Executive Director Chan Khar Liang said industry stakeholders had consistently highlighted the risks associated with agents who rarely complete transactions.

He stated that such agents may be less familiar with changing regulations, transaction procedures, and market trends, which could affect the quality and accuracy of advice provided to clients.

Three-Year Registration Cycle Explained

Property agencies and agents renewing their registrations at the end of 2026 will enter the first three-year registration cycle, which will run from January 1, 2027, to December 31, 2029.

Agents joining the industry after the cycle begins will also have registrations ending on December 31, 2029.

The longer registration period is expected to reduce administrative work by allowing agencies to manage licence and registration renewals once each year instead of at multiple times throughout the year.

Flexibility for New Agents and Special Cases

The CEA said the new requirement includes flexibility for new entrants and agents facing exceptional circumstances.

New agents will not be required to complete any transactions during their first year in the industry, allowing them time to build experience and establish a client base. They must complete at least two transactions during the remaining two years of the registration period or pass the refresher examination to qualify for renewal.

Further details about the refresher examination are expected to be announced in the first half of 2029.

Agents unable to meet the transaction requirement due to exceptional circumstances, including serious medical conditions or involvement in lengthy and complex property transactions, may be considered for waivers on a case-by-case basis.

Industry Leaders React to the Changes

ERA Singapore Key Executive Officer Eugene Lim, who is also President of the Singapore Institute of Estate Agents, said the new requirement could lead to some inactive agents leaving the industry.

He added that the rule may encourage agencies to focus more on the productivity and professional development of individual agents rather than overall headcount.

The transaction requirement will work alongside the existing Continuing Professional Development (CPD) framework. Since January 1, agents have been required to complete 16 CPD training hours each year, and this requirement will continue even after registrations move to a three-year cycle.

More Transparency Planned Across the Industry

The CEA also plans to begin collecting commission data from property agencies. According to Sun Xueling, the authority may later publish aggregated and anonymised industry-level commission information to help prospective agents make informed career decisions. Individual agents' commission earnings will not be made public.

The minister also highlighted ongoing concerns about inaccurate, fake, duplicate, and unauthorised property listings.

To address this issue, the CEA plans to launch a full-scale platform in 2027 that will verify the authenticity of online property listings.

The authority is also considering publishing consumer ratings of property agents on its public register and making the register easier for consumers to access.

Additional Measures Under Consideration

The CEA is reviewing several additional proposals, including requiring property agents and clients to sign an Estate Agency Agreement before work begins. Under the proposal, agents would also disclose from whom they will collect commission.

The authority also plans to survey agents regarding the support they receive from their property agencies.

Separately, Singapore authorities are considering making the Housing Board's Resale Flat Listing service the default platform for HDB resale advertisements.

Currently, listing HDB resale properties on the platform is voluntary. Since its launch in May 2024, more than 12,500 verified listings have been published, with over 60% resulting in completed resale transactions.

The Housing Board will gather feedback from buyers, sellers, and agents before deciding on future improvements to the service.

Authorities are also considering allowing property owners to advertise directly on commercial property portals, giving those who choose to sell without an agent greater visibility.

Some property agents welcomed increased transparency but expressed concerns about ensuring transaction records accurately reflect the work completed by individual agents and about the impact that owner-listed properties could have on industry standards and agent livelihoods.

#Global News #Asia News #Singapore News #World Update