Property agents in Singapore will soon be required to close at least three transactions every three years to remain registered, as part of a wider industry review aimed at raising professional standards. The new rule, which takes effect on January 1, 2027, is intended to ensure that agents stay up-to-date with the latest rules and regulations.
About 40% of registered agents did not complete at least three residential transactions between 2023 and 2025, according to the Council for Estate Agencies (CEA). The median number of residential transactions completed by each agent annually was two.
Agents who fail to meet the three-transaction threshold will have to pass a refresher examination to remain in the industry. If they fail the exam, they will have to leave the industry and pass the Real Estate Salesperson examination if they wish to return. The CEA described this as a requirement to ensure that agents stay current in their knowledge.
Senior Minister of State for National Development and Transport Sun Xueling said that consumers should be able to trust that their property agent’s advice reflects the latest rules and regulations. Sun Xueling noted that while most agents continue to upgrade themselves and serve their clients professionally, feedback had been received on whether those who had not completed property transactions over extended periods remained current in their knowledge.
Around nine in 10 consumers surveyed in CEA’s 2024 Public Perception Survey said they were satisfied with the services of their agents, but 74% expected agents to complete at least one transaction a year to remain registered.
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There will be some flexibility for new entrants and agents facing exceptional circumstances. New agents will not have to complete any transactions in their first year, giving them time to build their skills and client base. To qualify for renewal, they must complete at least two transactions in the remaining two years of the registration period or pass the refresher exam.
As the industry adjusts to the new rules, some agents will struggle to meet the three-transaction threshold, potentially leading to a reduction in the number of registered agents.
The CEA’s efforts to raise professional standards and improve transparency may ultimately benefit consumers and the industry as a whole.
Property agents will need to adapt to the new rules and find ways to stay competitive in a changing market.
With the implementation of the currency requirement, the industry is likely to become more efficient and effective, with agents who are truly committed to their work remaining in the industry, much like a vintage home renovation requires careful planning and attention to detail to achieve a desirable outcome.
