Ultimate Guide on How to Be a Property Agent in Singapore: Course, Exam & More
I was greeted by this situation over my Johor Bahru (JB) trip last weekend:
If you’ve crossed the causeway before, you would’ve bumped into multiple property agents asking you if you’re interested in buying a house in Malaysia.
This caught my attention, not because of the shoving of flyers, but rather because I have not been exposed to this practice in Singapore.
Then, I remembered something. I’ve seen at least two friends switching careers to become property agents in Singapore on social media recently.
This has got me thinking – how do you become a property agent in Singapore?
Well, the thought of joining the real estate industry is tempting, especially when you see your friends driving a sports car, earning at least five to six figures a month while you are struggling to keep afloat.
Suffice it to say you need to go through some rigorous training to become one.
If real estate is something on your career books, it’s time to find out more below!
TL;DR: How to Be a Property Agent in Singapore
Click here to jump:
- Council for Estate Agencies & Real Estate Salesperson Courses
- Getting a property agent license in Singapore
- Pros and Cons of being a property agent
Disclaimer: The information provided by Seedly serves as an educational piece and is not intended to be personalised career advice. Readers should always do their own due diligence and consider their goals before committing.
CEA Check Agent & CEA Course
The Council for Estate Agencies (CEA) is the main regulatory body in the real estate agency industry, and it sets forth the guidelines and the licensing regime for real estate agents in Singapore.
If you’re looking to become a property agent in Singapore, you need to pass the examination syllabus endorsed by CEA.
Fun fact: As of 1 January 2023, there are 34,427 registered property agents.
What Are the Eligibility Criteria to Become a Property Agent in Singapore?
Property agents are the cornerstones of the private housing and resale market in Singapore, and this means you need to be well-versed with property measures, property tax, and Additional Buyer’s Stamp Duty.
As an aspiring property agent in Singapore, you must complete a series of Real Estate Salesperson (RES) courses and examinations before obtaining your property agent’s licence and ID tag.
And before that, all candidates are required to meet the minimum educational requirement of at least four GCE O-level passes or equivalent when they register for the RES examination.
Do remember to submit a copy of your qualification certificate for verification by CEA’s appointed examination administrator when you register for the RES examination. CEA accepts combined GCE O-level results taken at not more than 2 sittings.
Property Agent Course, Costs & License in Singapore
Where Can You Find RES Courses?
Do note that you must pass the RES exam within two years from the date of issue of the Certificate of Completion of the RES course.
There are several RES course providers in Singapore:
| Region | Course Provider | Cost Fee Before SkillsFuture / NTUC UTAP | Curriculum |
|---|---|---|---|
| Central | Real Centre Network | $842.40 ($780 + GST) | 18 sessions, 3 hours each + 1 eLearning |
| BenchMark RealPro | $650 | 12 sessions, full day (8.30am - 6.10pm), 75% min. attendance | |
| Institute of Estate Agents | $688 | Over 9 full days, or 18 evening classes at 3 hours per class | |
| West | Pioneer Training & Consultancy | $788 Discounted Buddy Rate: $700 (Code 'Buddy700') | 15 Sep - 6 Oct 23 (Mon, Wed & Fri, 10am - 5pm) |
| Real Centre Network | $842.40 ($780 + GST) | 18 sessions, 3hrs each + 1 eLearning | |
| East | Real Centre Network | $842.40 ($780 + GST) | 18 sessions, 3hrs each + 1 eLearning |
| Singapore Estate Agents Association (SEAA) | $788 Discounted Buddy Rate: $758 (Fill out Google Form) | Over 9 full days, or 18 evening classes at 3 hours per class |
Costs For RES Courses
The cost of these RES courses can vary, but with leading course providers, you can expect to pay between $700 and $800.
If you are an NTUC member under 40 years old, you may receive up to $250 in UTAP subsidies and an additional $500 in funding for RES courses and exams, which offsets the overall cost of the courses.
And Singaporeans and Permanent Residents (PRs) who are 25 years and older are eligible for SkillsFuture credits of up to $500. You can use these credits to further reduce the cost of the RES courses.
To prepare for the RES examination, you can also sign up for mock exams at the RES practice website with these price plans:
| Plans | Price |
|---|---|
| 3-month plan Paper 1, Paper 2, Mock Test, Case Study, Full Mock Test | $60 |
| 6-month plan Paper 1, Paper 2, Mock Test, Case Study, Full Mock Test | $60 (U.P. $90) |
| 12-month plan Paper 1, Paper 2, Mock Test, Case Study, Full Mock Test | $180 |
Registering Interest & Registering For RES Examination (Two-stage Process)
And while you’re preparing for the examination, there are two stages to take note of.
During Stage One, you are required to indicate your interest via FormSG on NTUC LearningHub’s (LHUB’s) website.
There is a shortlisting process due to the high demand, so this is on a first-come-first-served basis. For those who are not shortlisted may be placed on the waitlist.
This group will then be informed by email if they are successful or unsuccessful in applying for the examination.
Costs of RES Examinations
The cost of the RES examination papers, including GST, is $417.30 for the initial attempt.
However, if you need to retake the exam, the cost will be $235.40 (GST inclusive) per exam paper.
What If You Have A Real Estate Diploma or Degree in Singapore
RES Examination Syllabus & Format
There are two papers to sit for, each at two and a half hours (2.5 hours), each with two sections:
- Section A: 60 Multiple Choice Questions (MCQs) – 60 marks
- Section B: 20 MCQs with reference to 1 or 2 Case Studies – 40 marks
Candidates who have passed any one paper of the RES examination are allowed to retake the examination in a modular sitting.
And very importantly, the passing mark for each examination paper is 60% and is subject to review by CEA.
What Is The RES Examination Schedule Like?
The next RES examination is scheduled on 25 Nov (Paper 1) and 26 Nov (Paper 2), 9.30am – 12pm for both papers.
Currently, the interest indication and registration periods have not been released, but based on March and July 2023’s schedule, it should be at least one month before the examination.
After Passing RES Examination And Registration
Yay, you’ve passed the RES Exam!
Before registering as a property agent in Singapore, you are required to pay a registration fee with a licensed real estate agency.
And before jumping into any agents, as with any job, do keep in mind that experienced and competent RES persons can be your mentor(s) and help you in your career.
This means you will need to pay attention to industry veterans who are knowledgable, well networked, and people who have established track records in training prospective agents.
That said, the cost of registering as a property agent in Singapore is approximately $703.50 – $933.50, with the following breakdown:
| Description | Cost |
|---|---|
| Real Estate Salesperson Registration Fee | $53.50 + $230 annual CEA fees = $283.50 |
| Professional Indemnity Insurance | $120 - $150 |
| Agency-levied admin fees for name cards/ID Tag/Start Up Courses/Admin fees | $300 - $500 |
Real Estate Career & Agent Salary
Being a real estate or property agent in Singapore is very much like running your own business, and you’re considered self-employed.
This means you will not draw a fixed salary, and there might be ups and downs across months.
If you’re prepared to move away from a fixed monthly paycheck and embrace an unlimited potential income, the role of a property agent could be the perfect fit for you.
Having full control over their working hours is a major motivator for many people choosing to become agents. If you’re more productive in the afternoon, you can opt to start your day later than those in traditional nine-to-five jobs.
You even have the flexibility to work just three days a week if that suits your preferences.
However, it’s important to note that this flexibility doesn’t mean agents have a completely leisurely schedule.
While you can set your own hours, most agents find themselves working during public holidays, weekends, and beyond regular working hours.
These time slots are often preferred by clients for property viewings, and being available during these times helps provide excellent service.
Similarly, personality matters a lot as this is a people-centric industry. On top of having the passion to serve, you will need to be able to pitch and articulate well.
Can You Be A Part-Time Property Agent in Singapore?
Yes! It’s common to have a side hustle nowadays, and this includes being a part-time property agent.
It can be challenging as you also have a day job, but if you can manage your time really well, it’s not impossible – this includes spending your weekends on property viewing and sometimes new launches.
Are You Training To Be A Real Estate Agent in Singapore?
There are many property agents in the Seedly Community, and if you have any questions or require suggestions, head over to find out more!
Related Articles:
- Ultimate Guide to Executive Condos (ECs): Eligibility, Grants, and Upcoming EC Launch 2023 & Beyond
- Good Class Bungalow (GCB) Prices in Singapore: How Much Do You Need To Earn To Afford One?
- HDB Prime Location Public Housing (PLH) Model Explained: All You Need to Know
- Is the HDB Resale Flat Market Overheating?
- The Ultimate HDB Grants Guide: CPF Housing Grants for BTO, Resale & SBF Flats
Advertisement
