Agency proposes start-up grant to encourage more real estate salespersons

According to a recent survey by the Council of Estate Agencies (CEA), 72 percent of respondents expressed an interest in dealing with property agents for future transactions.  Recent trends also show that customers are more likely to turn to technology for the convenience of finding property agents.

In the CEA’s inaugural conference last Mar 26, Minister of State for National Development Zaqy Mohamad acknowledged the effect of the Real Estate Industry Transformation Map (ITM) – as a reason for increased customer satisfaction when dealing with property agents.

Agents who used technology in their transactions were more likely to satisfy the needs of consumers. Customers also now search for trusted agents online.

Thus, property agency ERA Realty Network proposed to grant a start-up fund of S$1,000,000 to help aspiring real estate salespersons (RES) transition into the industry. The agency made the announcement during an open house event last Mar 22.

ERA added that the grant aims to encourage people who are looking to shift careers to the real estate industry. The open house event was attended by industry professionals, fresh graduates, homemakers, and fresh out national servicemen.

The CEA set up the Real Estate Salesperson Examination to determine whether applicants are well-qualified, professionally competent, and knowledgeable regarding property and real estate matters.

In response, the ERA Realty Network announced the New RES Start-Up Grant aiming to shoulder the Joining Fees for 2019. According to the ERA, any new RES who plans on joining need only pay a S$100 fee of the compulsory start-up programme.

“Given global economic uncertainty, this start-up grant comes in handy for the weak labour market that has been affected by the fast-paced technological change and companies undergoing re-organisations, mergers and acquisitions this year,” ERA stated.