Buyers and their agents queueing to book a unit at High Park Residences, a 1,390-unit condo development in Fernvale in 2015.PHOTO: ST FILE
SINGAPORE - Taking a leaf out of travel websites and ride sharing apps, the real estate industry is introducing customer ratings of real estate agents, and publish property transaction histories to improve transparency and enhance professionalism in the industry.
The Council for Estate Agencies (CEA) is working with agencies to publish property transaction details - such as the price, location and the agent who closed the deal - and "TripAdvisor-like" customer ratings of the 28,000 property agents. It said this will allow consumers to find an agent who best fits their needs.
The initiative will be implemented in two phases, starting with Housing Board transactions from the end of 2018, and for private residential transactions from the end of 2019.
The measure was announced on Thursday (Feb 8) as part of the Real Estate Industry Transformation Map, which seeks to transform the facilities management and property transaction services sectors amid disruptive technology, rising consumers' expectations and a manpower crunch.
Second Minister for National Development Desmond Lee said there were two key thrusts to the map: embracing innovation and strengthening professionalism.
To do this, the Council for Estate Agencies is leading a new Digitalised Property Transactions Workgroup to make property transactions more seamless, efficient and secure.
Full story at http://www.straitstimes.com/singapore/housing/publishing-home-sales-details-reviews-of-housing-agents-among-moves-to-transform
This female agent So and So gets a 5/5 rating because she is so sweet, friendly plus she gives extra services *wink wink*
What about the ratings given in the years and decades preceding 2018 and 2019???? Obviously the agents will behave now and act all goody goody with this implementation, but for all we know their past records could be bloody shitty!!!!!