Fewer registered property agents and licensed property agencies now compared to a year ago

The number of licensed property agencies as of Jan 1 is 1,286, down from 1,369 on Jan 1, 2016 and 2015.
The number of licensed property agencies as of Jan 1 is 1,286, down from 1,369 on Jan 1, 2016 and 2015.PHOTO: ST FILE

SINGAPORE - There are now fewer registered property agents and licensed property agencies compared to a year ago, going by data released by the Council for Estate Agencies (CEA) on Tuesday (Jan 10).

As of Jan 1, there are 28,397 registered property agents here, down from 29,262 agents on Jan 1 last year, and 30,830 on Jan 1, 2015.

The number of licensed property agencies as of Jan 1 is 1,286, down from 1,369 on Jan 1, 2016 and 2015.

CEA added that a total of 95 property agency licences and 3,200 property agent registrations lapsed after Dec 31 last year. The council issued 40 new property agency licences and 1,189 new property agent registrations throughout 2016.

On the fall in the number of property agents, Mr Heng Whoo Kiat, CEA's director for policy and licensing, said that this "could point to a slight consolidation of the industry given the current property market sentiments".

"CEA also recognises that the real estate agency industry landscape is evolving," he added. "For example, with technological innovations, consumers' lifestyles and preferences in handling their property transactions are changing, and this could shift demand for real estate agency services."