Amidst the wheeling and dealing in the property market, consumers need accurate information and proper advice so that they can make informed decisions about their property transactions, said Acting Minister for Manpower Tan Chuan-Jin on Saturday.
Speaking at a Council for Estate Agencies (CEA) and the Consumers Association of Singapore (Case) event, Mr Tan announced two initiatives through which the two bodies will further their consumer outreach and education efforts.
First, there will be a series of quarterly seminars to educate the public on engaging real estate salespersons, consumer responsibilities and dispute resolution.
Case and CEA have also produced a consumer guide to highlight key issues consumers will face when making a property transaction.
At the event, the CEA also launched its Professional Service Manual (PSM), which spells out the standards and guidelines for and estate agents and salespersons and aims to promote ethical service in the real estate agency practice.
"The PSM, together with the ramping up of consumer education efforts by CEA and Case, not only help raise the professionalism of estate agents and salespersons, they also enhance consumer knowledge and trust in the real estate agency industry," said Mr Tan, who is also Senior Minister of State for National Development.