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Rising property prices have caused the real estate profession to come under the spotlight in recent months. This is expected, of course, because when a company or industry begins to report record prices or profits, then it risks being placed under the political microscope.
The Singapore government recently launched a public consultation exercise for a new regulatory framework for the real estate industry (which apparently received only 200 suggestions). One of the more popular suggestions was to require real estate agents to pass a standard test before they’re allowed to practice. That seems long overdue. While most people don’t expect their agents to be real estate geniuses, I’m sure they expect agents to have at least some comprehension of the industry. I mean, this is probably one of the more important decisions in your life, right?