How To Become A Property Agent In SG
Becoming A Property Agent In S’pore: A Step By Step Guide:
So you’re looking to start your career in real estate! Congratulations, it’ll be quite the journey. You will learn a lot, you will taste failure. But, at the end of the day, with the right guidance, you’ll have something to be proud of.
This year we’ve experienced the worst recession in 55 years, but the private property market seems to have dodged this bullet. Does this mean that this is a career that has a certain type of longevity? Perhaps and perhaps not. Whatever your reason is for considering such a career, here is a step-by-step guide on what it takes to become a real estate agent in Singapore.
Before we begin, you need to understand that being a real estate agent is akin to being self-employed, meaning that there are start-up costs and investment in personal development.
Registration and Licences
Real Estate Salesperson (RES) Course (or commonly known as “Property Agent Course”) is a mandatory preparatory programme for aspiring Real Estate Salespersons to undergo before taking the industry RES Examinations.
Under the new regulatory framework administered by the Council for Estate Agencies (CEA), one of the registration criteria for property agents is that they must pass the CEA’s Real Estate Salesperson (RES) Examination or possess equivalent qualification.
Exam
After the course, you will be required to take 2 RES examinations and pass both before you can apply to be a liscensed real estate property agent. You can register for the RES examination at SEAMEO Regional Language Center (RELC).
Exams are conducted 3 times a year in Feb, June and October.
Fees
The RES Course fee ranges between $700-$800, depending on the course provider and the RES exam cost fee is $417.30 inclusive of GST for two papers.
2. Joining an Agency
After you have successfully passed the CEA exams, there is one more step you need to do before you can start your practice as a licensed real estate salesperson, to join an estate agency.
But before you can join the agency, submit your application via this estate agency you have selected. The recruiter or the team manager will hand you an application form and the agreement contract. You will need to sign the agreement and make the necessary payments.
CEA will send you an email with instructions within a day after the application is submitted by the estate agency.
Complete the application and upload the documents as per instruction given. You have 10 days to submit. And, thereafter, the Estate agency will submit the application to CEA.
Once the application is received by CEA, CEA will take another 4 to 6 weeks to approve the application upon receiving the application.
CEA will send a notification to both the estate agency and you once the application is approved. Once CEA notifies the estate agency, they will prepare the CEA card with the estate agency logo on it. And, you can start your business as a real estate salesperson.
Now that you have the necessary certifications, you can choose which agency you want to join. Here are a few to get you started:
What should you look out for when choosing an agency?
Large Organisation
Simply put, the larger the organisation the bigger the budgets. This means that agents have the best tools and support. For example, PropNex has over 8500 agents within the organisation and over 19 years of experience.
2. Focused Team
A good mentor and team manager is a very important consideration, especially if you’re new to the game. Remember that you want to be a professional agent who conducts business ethically.
Find a team that is able to provide guidance so you can learn and earn quick. The big organisation provides you with the resources, but the small team within the big organisation gets you the individual training you need.
3. Finding a Mentor
Have a personal meeting with team managers and get to know the person you’ll be partnering within this new business. The onus is on you to drive the success of this business, team managers are there to guide you.
When it comes to finding a good mentor, you need to ask yourself a few questions
Do they seem to invest in and enjoy being a part of others’ success?
Are they good at giving and receiving feedback?
Do they speak in a truthful and respectful manner?
Are they invested in their own growth and development?
Do they see the value in investing in growth and development in general?
Do you respect and like this person inside and outside the office?
Are they well-liked by others?
Do they have mentors of their own?
If the answer to the above questions is ‘yes’, then you’re on the right track! We know that people do not like hard selling so we are going to be 100% honest with you. We wrote this in hopes that you will reach out to us to join our division because that’s how we run the show, on transparency and honesty.
So if you are looking for a mentor that will be committed to your growth and development, we have a training roadmap. Yes, there is a formula to success.
Remember that good things in life do not come easy and it is up to you to forge your own destiny. In summary, this article provides a brief guide to
RES course and Examinations
Joining an Agency
Choosing a Mentor
If you have any queries or are interested in more information regarding your career as a real estate agent, drop us a line here
