8 in 10 property salespersons thumbs up on stringent standards

That includes minimum eligibility criteria for salespersons.

In the Council for Estate Agencies' first Public Perception Survey on the real estate agency industry, an online survey was conducted with 1,216 salespersons and 468 Key Executive Officers (KEOs) of estate agents to gather feedback on the initiatives implemented to develop the industry.

The key findings are as follows:

 The industry has expressed strong support of CEA’s efforts in raising the standards of the industry. 80% of KEOs and salespersons indicated that the regulatory measures and enforcement of minimum eligibility criteria for salespersons has helped raise the professionalism of the industry, though they also noted that more could be done in the areas of industry development and consumer education.

 91% of the salespersons found that the training, including the mandatory Continuing Professional Development courses that they received in the last 12 months, were effective in raising their professionalism. Majority of them also indicated that they would require additional training on government rules and regulations and market information.

 Estate Agents and KEOs are responsible for the management and supervision of their salespersons. Salespersons generally felt that their estate agents:
(a) provided effective overall support to them
(b) were effective in transmitting useful information to them in a timely and clear manner.

They felt that their estate agents were least effective in the following areas:
(a) Reward and disciplinary system
(b) Providing resolution to problems or difficulties
(c) Supervision of training needs.

Similarly, KEOs also rated their estate agents as least actively involved in the same areas.

The survey findings provide CEA with valuable insights to plan and develop initiatives that raise professional standards in the industry, as well as promote consumer awareness of industry practices. It also serves as a useful report card for estate agents and salespersons to review and improve their practices.