The career of real estate broker or salesperson in Singapore is lucrative both monetarily and professionally. It is a well-paying job as long as you work hard and show your dedication and intelligence. Earning a monthly five-figure income is no big deal for professionals with proven skills.
The property agent career path in Singapore requires high standards to initiate a legally recognized service. To begin your real estate agent career path in Singapore, you must meet the Council of Real Estate Agents (CEA) eligibility criteria.
In terms of age, a real estate agent must be at least 21 years old and have been a permanent resident of Singapore or Singapore (SPR) for more than 10 years.
The basic qualifications to join the RES (Real Estate Agent) course as a prelude to a property agent career in Singapore includes a minimum of 4 GCE 'O' levels or equivalent.
RES courses are offered by course providers approved by CEA. Fees range from $650 to $800. For Singapore natives or SPRs there is the opportunity to utilize SkillsFuture credits as tuition fees. For NTUC members, a grant of up to $250 will also cover tuition.
The RES exam for real estate agents consists of 2 exams and it is mandatory to pass both exams. The exam fee for the RES tests is $417 and passing exams will cost $236 per test.
The RES course material includes an overview of the industry and basic concepts of land law and related statutes and laws. Various industry regulations and real estate marketing principles updates on best practices, and transaction processes also come under its course ambit.
Upon completion of the RES course, a certificate of completion will be issued if the candidate has a minimum of 75% attendance.
The certificate is valid for 2 years from the date of completion. This means applicants must pass the required real estate exams within 2 years otherwise they have to retake the entire RES course.
Upon successful completion of the course, an application for accreditation must be filed with the CEA for occupational compensation insurance. An administrative fee to join an agency will also bear some of the costs.
The RES course is difficult and requires specific study. To help candidates there is a real estate exam revision Singapore helping out candidates with a better grasp of the topics, and support sessions outside of the classroom.
Those in need can take exam preparation courses. Several RES support teams are active and run Singapore property exam assessment and assessment courses. An example is the Real Estate Agents Association of Singapore (REC) Revised Examination class helps those who completed the RES course and looking to take the RES exam. Participants receive test-taking tips, mock tests, sample questions, and repeated revision exercises on difficult topics. The proper preparation and the advice of the trainers contribute greatly to the optimization of the success rate.