How Much Capital Do You Really Need to Become a Property Agent in Singapore?
- Stuart Chng
- Dec 19, 2025
- 7 min read
There are more myths circulating about how much it costs to start as a real estate agent than there are jokes about Yishun (which, by the way, is a perfectly nice neighbourhood despite what the internet says 😄).
To help you really understand what’s involved financially, here’s a straightforward, realistic breakdown of the capital you’ll need before you even close your first deal.
First, Treat It Like Starting a Small Business
Becoming a real estate salesperson in Singapore isn’t like getting a desk job with a salary and fixed expenses. You are effectively starting your own micro-business — you’re your own boss, but you must also cover all your initial costs, ongoing operational expenses, and keep yourself financially afloat, especially during the first year.
Planning ahead, and ideally budgeting for the first 12 months before you start, will give you a much stronger foundation.
Mandatory Licensing and Registration Costs
You must complete a CEA-approved RES course before you can sit for the licensing exam. Course fees vary by provider and can range from about S$650 to S$1,000 depending on the provider and whether GST is included.
Good news: Singaporeans and Permanent Residents (25 years and older) can use SkillsFuture Credits (up to $500) toward the course, and NTUC members may claim up to $250 UTAP funding toward the course and exam fees.
2. RES Examination Fees
You must pass the official RES exam conducted by the CEA’s appointed administrator:
Full sitting (both papers): about S$512.30 (GST inclusive)
Re-taking one paper: about S$283.40 (GST inclusive)
3. Registration Fee (CEA)
Once you pass the exam and join an estate agency, you need to register with CEA:
Application fee: ~S$60
Annual registration fee: S$260 per year (GST exempt)
4. Professional Indemnity Insurance
All agents must hold professional indemnity insurance to protect against liability claims. Basic coverage usually costs around S$120–S$150 annually.
5. Agency Admin Fees
When you join a real estate firm, there are usually small additional costs for your ID tag, name cards, onboarding materials, and basic training. These commonly fall in the S$300–S$500 range.
Estimated Baseline Investment Before You Earn
Putting the above together, a sensible estimate of what you should budget before earning any commission looks like this:
Item | Typical Cost (SGD) |
RES Course | $650 – $1,000 |
RES Exam Fees | $512 |
CEA Registration & Application | $320 |
Professional Indemnity Insurance | $120 – $150 |
Agency Admin Fees | $300 – $500 |
Estimated Total (Pre-Income) | ~$2,000 – $2,500+ |
So S$2,000–S$2,500 is a reasonable ballpark if you pass the exam on your first attempt and don’t overspend on extras.
Of course, if you take longer to pass the exam or choose higher-end training providers, the total could be higher, so always budget a buffer.
What About Ongoing Costs?
Working with luxury or exclusive landed properties? You may need a car more often.
Transport
Daily meetings, property viewings, and customer appointments mean travel will be part of your weekly budget. If you rely on public transport and rideshares (like Grab or taxis), costs can vary widely depending on frequency and location. Budgeting $200–$600 per month early on is reasonable for most agents.
This will vary based on the type of properties you work with. If you mainly sell new launches in show flats (i.e. you are on the core team of the project), then your transport costs are more limited – you just commute to the show flat, and wait for the prospects to turn up.
But if you deal mainly with resale flats and condos, you’ll have to meet clients and conduct viewings. It’s possible to do this for around $10 a day, if you arrange to just rely on public transport. This may not be possible on some days though, such as if there are back-to-back appointments.
As a tip, consider using pooled rideshare options – such as GrabHitch – and trying to book a day or two in advance, since you know when the appointment times. This can significantly lower the costs for you, as and when you’re able to get a ride.
Landed and luxury properties tend to be less accessible.
Think Sentosa Cove, or the some stretches along Upper Thomson. Your transport costs will be higher if you frequently deal with these properties.
Marketing and Lead Generation
The most significant distinction between this role and traditional employment is that you bear the sole responsibility for promotion and marketing. It's entirely up to you to determine the budget allocated for promoting each client's property.
Going digital can be cheaper, and more effective, than mediums such as print
The most general tool for doing this today is a property portal, such as 99.co or Property Guru.
Most of these have subscription packages, that cost between $300 to $980 per year.
Okay, yes, that’s quite a range – but it’s because the price will differ based on how many listings you put up, and how much you want to boost the listings (make them more visible, by appearing more often to the site’s visitors).
Or you can go old school, and use newspapers
Newspapers are less often used for residential properties these days. The average home buyer is more likely to browse for properties on their smartphone, than to open up the classifieds.
But newspapers do have their place. They’re sometimes used for high profile landed properties, shophouses, or commercial properties such as industrial space.
Ads in the newspapers are priced by length and time: if you were to take out an ad in the Straits Times Classifieds right now, it would cost $41 per centimetre if run on Monday to Wednesday, or $44 per centimetre otherwise. SPH publishes its latest prices in this ratebook.
There are also other methods, like social media marketing or advertorials.
These typically require you to set up a website, and maintain a stream of content that you also put on Facebook, Instagram, Pinterest, and so forth.
The costs are variable, depending on what sort of expertise you need to develop the content (in general, it’s a trade-off: the less you want to spend, the more time-consuming digital marketing will become).
Social media ads or boosted listings on Facebook/Instagram can vary from as little as $200/month to several thousand a month if you want significant reach.
These days, any decent real estate agency will have a digital marketing training syllabus. Check out NAVIS Training Programmes to ensure you are just as well supported in your agency.
So how much should you be spending on marketing?
Track your expenses and results, to see if your marketing methods are worth what they cost
In general, the bulk of your costs will come from marketing and lead generation. Some of our top property agents in Navis Living Group spend as much as $20,000 to $25,000 a month on marketing; but they get back much more than what they invest into their business.
As a new agent, it’s best not to go overboard with marketing right away.
Remember that even if you get a lot of leads, you still need to have the capacity and skills to convert them all into sales. A marketing budget of $1,000 to $2,000 a month suffices for many property agents at the start (and potentially leads to a six-figure income per year already).
You’ll also need to get sufficient insurance
In addition to professional indemnity insurance, you should strongly consider:
Hospitalisation / Integrated Shield Plan (IP)
Personal accident insurance
Critical illness coverage
Life insurance
Speak with a qualified financial planner to tailor these based on your lifestyle and financial goals — insurance protects both you and your future clients.
Building a Safety Cushion
Because commissions only come in after a successful deal, many agents go months without income early in their career — especially before landing regular clients. Rental deals may pay out faster (a few weeks after closing), while property sales can take 2–4 months or more from contract to payout.
Having at least 6 months’ living expenses saved is generally recommended before you start.
For example, if your basic monthly outlay (transport, marketing, bills, food) is around $3,000, aim for at least $18,000 in savings as a safety buffer.
Here’s a rough estimate of how long it takes to get paid:
Resale transaction (flat or condo)
Approx. three to four months for the transaction to be completed, and brokerage fees are paid within one to two weeks after that
Rental transaction
Usually the fastest; you’ll be paid a week or two after the deal is closed, and income can materialise within the first two months.
New project sales
Around six to nine months to pay out.
It is crucial that you have ample savings as it affects your psychological and emotional well-being, ultimately affecting your performance.
Final Thoughts
Becoming a property agent in Singapore can be a rewarding and flexible career choice — but it does require upfront planning, spending, and discipline. Budgeting realistically for licensing, transport, marketing, and a safety buffer before you earn can make the difference between struggling and building a sustainable career.
In short, plan for:
~$2,000–$2,500 to get licensed, and
Monthly operational costs that can vary depending on how active you are and how aggressive your marketing is.
This preparation will help you focus on building skills, serving clients, and growing your business with confidence.
It’s also important to get a good RES mentor, to show you the ropes.
A skillful and experienced property agent, for instance, can show you more cost-effective ways to market a property, negotiate better and improve your conversion rate dramatically.
Looking for great real estate career mentorship to shorten your learning curve?
Get a 30 min new agent career consultation with Stuart and his hands-on team of leaders.
Otherwise, drop me a WhatsApp if you would like to start your career with our team or attend our next Career Seminar!
Stuart Chng, Executive Group District Director at Huttons, is a renowned leader and personality in the real estate industry.
He adores music and can play a few instruments decently without upsetting his neighbours. When not doing so, he enjoys pillow fighting with his son and coming up with silly puns which barely amuses his wife.
Professionally, he is a licensed real estate agent, an avid stocks, options and real estate investor, business owner, team leader, speaker and columnist for several property newsletters and blogs and is often quoted in media interviews on 938FM, Channel 8, PropertyReport, PropertyGuru and other publications.
Throughout his career, he has helped many clients grow their wealth through selecting great property investments and managing their portfolios actively. Read his clients' reviews here.
Stuart has also coached many top million dollar producing agents from top real estate agencies in Singapore. Read his agents' reviews here.
Brand new and interested in the RES Course?
- Find out how long the RES Course takes and the 5 qualities you need to become a top property agent in Singapore!
- Passed your RES Exams? Find out what steps to take next to quickly reach your goals!
- Find out which real estate agency to join after passing your exams!
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