Estate Agency Act Flashcards
Overseas developers selling property in Singapore, staff of developers need to be CEA registered?
No, they’re fully exempted from registration with CEA because they’re not doing estate agency work.
touting
兜售
Under the Estate Agent Act 2010, when appealing to the Appeals Board, the appellant must lodge a notice to appeal:
1. within __ days
2. submit a non-refundable $__ fee for the appeal
3. summary of the grounds for appealing against the decision
14 days;
$1000
CEA Disciplinary Committee
The DC may take the following actions, as the case may be, after a disciplinary hearing:
1. Revoke or suspend a registration or licence.
2. Attach or vary conditions to a registration or licence.
3. Impose a financial penalty not exceeding $__ (per case) against RESs and not
exceeding $__ (per case) against EAs.
4. Admonish or reprimand the RES or EA in writing
$100,000;
$200,000
admonish
warn someone firmly
reprimand
formal expression of disapproval
CEA can issue Letter of Censure and impose financial penalties of up to $__ per case against
errant real estate salespersons (RESs) and estate agents (EAs) for minor disciplinary
breaches
$5,000
The Council for Estate Agencies Dispute Resolution Scheme
Client select venues for either mediation / arbitration
* Client could refuse the CEA DRS and proceed to take civil suit against E.A
* Mediation : Client respond within __ weeks upon request & __
weeks from date he replied to EA to select mediation centres
* Arbitration : Client respond within __ weeks upon EA request for
arbitration and__ weeks to select arbitration centres from his
reply.
3 weeks;
4 weels.
3 weeks;
3 weels.
Approved Mediation Centres
1. Consumer Association of Singapore
2. Singapore Institute of Surveyors and Valuers
3. Singapore Mediation Center
What about Approved Arbitration Centres?
- Singapore Institute of Surveyors and Valuers
- Singapore Institute of Arbitrators
Corruption , Drug Trafficking and other Serious Crimes (Confiscation of
Benefits) Act =”CDSA”
penalty for offender :
Individual - $__; __years.
Company - $__ or twice the value of the property in respect of
which the offence was committed, whichever is higher.
$500k; 10 years
$1million
Letter of Censure, what is censure?
formal expression of severe disapproval
CEPCC= Code of Ethics and Professional Client Care must be complied with respect to advertisements?
Yes
The sending of unsolicited commercial electronic messages in bulk is covered
under the Spam Control Act and is not regulated by the PDPC (Personal Data Protection Commission)
- <ADV> & unsubscribe – msg must be clear about the contact info which
must be valid for 30 days to unsub.
</ADV> - Once unsub submitted, spammer must remove the email address or mobile phone number
within 10 business days.
Prescribed estate agency agreement EXCLUSION:
-海外房产
-商业，工业地产
-Collective sale governed by __ __ (__) Act.
-Developer sale under the __ __ (Control and Licensing) Act.
Land Titles (Strata);
Housing Developers (Control and Licensing)
CEA, when they receive a complaint, shall refer it to the estate agent involved. The estate agent shall investigate the matter and reply to CEA within __ CALENDAR DAYS.
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