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Singapore’s CEA overseas property guides ‘will help remove fly-by-night operators’

Posted by: In: Real Estate 19 Mar 2014 Comments: 0 Tags: ,
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Guides for overseas property industry professionals and buyers, produced by Singapore’s Council for Estate Agencies, have been welcomed by agents and market experts

Singapore industry professionals are welcoming new overseas property guides – one for agents, one for buyers – from the Council for Estate Agencies (CEA) and say they could help remove ‘fly-by-night’ operators.

The CEA Consumer Tips for Buying Foreign Properties and Practice Guidelines for Estate Agents and Salespersons Marketing Foreign Properties may also save some agents from failing business, says real estate training academy director, David Cheong

But some agents and sales professionals may be concerned that the stringent due diligence and checklists could reduce their business, he says.

The CEA Consumer Tips for Buying Foreign Properties has been published as more foreign properties are being marketed in Singapore and the process can be complex and risky. “Exercise due diligence and do not be rushed into buying any foreign property without carefully considering your needs and the financial commitments,” it concludes.

The CEA has also produced a 12-page Practice Guidelines for Estate Agents and Salespersons Marketing Foreign Properties.

David Cheong, Director of the Real Centre Academy, tells OPP Connect, “There is a growing trend for Singaporeans to purchase a foreign property, mainly …read more

Source: OPP

    

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