How to be a property agent in Singapore, your step-by-step guide
2,434 total views, 8 views today
2,434 total views, 8 views today
How to be a Property Agent in Singapore?
Are you looking for a career that is highly rewarding? Whether you are a fresh graduate or already in the workforce with years of experience in your field of expertise, this question may have lingered in your mind at some point in time.
If you have decided that becoming a property agent (or Real Estate Salesperson) is your next calling, this guide will greatly help you navigate all the challenges and questions that you may face along the way.
CAN I BE A PROPERTY AGENT?
You need to find out if you have met the minimum criteria set by Council of Estate Agencies (CEA) to become a real estate salesperson.
Firstly, you must be 21 years old and above to qualify. The next requirement is that you must meet the education qualification of at least 4 GCE “O” Levels passes or equivalent, combination of 2 sittings are allowed.
If you have attained Level 5 and above for the Workplace Literacy and Numeracy (WPLN) assessment in Reading, Listening, Speaking, Writing and Numeracy; you will be recognised to have met the minimum requirements of 4 GCE “O” Levels passes.
More information on other criterias can be found here.
RES COURSE, YOUR VERY FIRST BABY STEP
Every successful story begins with the very first baby step. Your journey to success is no different. Your first mission is to enroll yourself to complete a Real Estate Salesperson Course (RES Course). Upon the completion of the RES Course, with a minimum attendence of 75%, a Certificate of RES Course Completion will be issued to you.
This Certificate of RES Course Completion has a validity period of 2 years from the date of issuing; this means you will need to attempt and pass the RES examination within this 2-year period. Failure to do so will result in you having to attend the RES Course all over again to obtain a new Certificate of RES Course Completion for a fresh 2 year validity.
RES COURSE FEES & SUBSIDIES
RES Course fees ranges between $700 – $900 depending on various RES course providers. You must only attend RES Course conducted by CEA list of Approved Course Providers (ACP).
Good news is that you can utilise SkillsFuture credit of up to $500 for your course fees.
If you are an NTUC member, you can also enjoy up to $250 UTAP subsidy for your RES Course.
ABOUT RES EXAMINATION
1. RES Examination Schedule
The RES examinations are held 3 times annually namely February, June and October. Please keep an eye on the registration closing dates and register early to avoid disappointment.
It is always wise to plan which batch you are enrolling so that you can strategise your revision for the exams.
You may register for the RES exam at SEAMO Regional Language Centre (RELC).
2. RES Examination Eligibility
Exam candidates MUST COMPLETE the RES Course with a minimum of 75% attendence in order to be eligible to receive the Certificate of Completion of RES Course.
Remember, this Certificate of Completion only has a 2-year validity so you need to pass both papers within this 2 years.
3. RES Exam Fees
- $417.30 (inclusive of GST) for 2 papers
- $235.40 (inclusive of GST) per paper if you are retaking the exam paper.
- Exam Format consists of 2 papers each lasting 2 1⁄2 hours.
Note: Modular Re-Sitting is only applicable for candidates who have passed at least one paper of the RES examination.
4. RES Exam Structure
Both papers will comprise of 3 sections:
- Section A: 50 Multiple Choice Questions (MCQs) – 1 mark each
- Section B: 15 MCQ with reference to 1 or 2 case studies – 2 marks each
- Section C: 10 Fill in the blank Short Answer Questions (SAQs) – 2 marks each
5. Exam Results
Remember those days when you were biting your nails while waiting for your major examination results? Trust me, this is no different except that you cannot slowly peep your results by slowly unveiling the paper result slip. Appointed exam administrator will notify you via email of your results approximately 4 – 6 weeks after the RES examination.
The passing mark for each examination paper is 60% and may be subjected to review by CEA.
6. Appeal of RES Examination Results
In the event that you feel strongly about your results and wish to appeal, you may submit an appeal to review your exam paper via SEAMEO Regional Language Centre (RELC), CEA’s appointed examination administrator, within 5 working days from the date of notification of your exam results. A non-refundable fee of $64.20 (inclusive of GST) is charged for the review of each examination paper.
KNOW THY ENEMY – RES EXAMINATION SYLLABUS
This ancient saying cannot be more true today. You will need to know your topics so that you can plan how to study and conquer the RES examination.
The objective of RES Course is to better prepare you to learn and understand the rules and regulations governing property agency work and practices and Singapore’s law and guidelines in the buying, selling and renting of HDB flats, private apartments and condoniums, commercial business spaces and industrial properties.
Below are the breakdown of topics by CEA at the time of writing this articles.
LOOKING FOR DIVINE HELP
Let’s face it, to totally understand and apply all the regulations and policies of a total new industry isn’t easy.
Wait, did I mentioned it is not easy but not impossible? Yes you heard it right! You may also take this revision opportunity to speak to Real Estate leaders/coaches who have in place revision and guidance to help you overcome this hurdle together.
Here in Navis, a division in OrangeTee, we have revision classes for aspiring property agents approximate a month before their exam dates. Find out more on our On-Job-Training programme so that you experience the industry first hand which will greatly help you understand better.
YOUR FINAL LAP!
Congratulations to you if you have successfully passed both your RES examination papers! You really deserve a good pat on the back.
Right now what is probably in your mind is which agency or leader to join. The top 4 real estate agencies at the moment are OrangeTee & Tie, ERA, PropNex and Huttons. Each agency and division each have their own systems and synergy that propel them to their current position.
What you need to do is to speak to different leaders to understand what system they have and how they work.
If you are looking for a hands-on and proven mentorship with structured systems and frameworks to help shorten your journey to success, drop me a WhatsApp message or contact me to discuss more about your future.
List of Recommended CEA Approved Course Providers for Real Estate Course 2020
We have compiled a list of Approved Course Providers for Real Estate Course for you below. Check on their schedules to find out what timing is the least disruptive to you.
Justin Kong has successfully help numerous property owners embark on wealth creation through property investment since 2003. He is passionate about sharing the knowledge of property wealth planning through writing and discussion with people from all walks of life. Feel free to contact him if you have questions about embarking on property wealth planning.