Considering a property agent career in Singapore?
You might still be in school and have exposure to real estate through your parents, relatives or friends.
Or you might even have been working for many years in your own field of expertise and are considering a career switch for financial or freedom reasons among the many awesome reasons to be in real estate.
Well, either way, welcome!
Becoming a licensed real estate agent today is much tougher than before and it requires much grit and determination to attend dense training sessions and study for the exams.
But once you do, an EXCITING WORLD awaits!
A career in real estate is like no other businesses that i know of. The product is possibly one of the most pricey anyone can buy in their lifetime and can determine their fortunes and retirement outcome.
This business requires deep knowledge of financial, investment, marketing, negotiations, business and many more skill sets that usually are separate roles in a company structure.
The people you will get to meet come from all walks of life and can open up your eyes to many possibilities that you couldn't have imagined.
And even more awesomely, it requires comparatively little resources and risks to get started unlike many other businesses.
So, while i can go on and on about all these, let's leave it for another day and get right into what you need to get started!
After you're a registered property agent and have found a real estate agency to join,
you will be listed on CEA.gov.sg under the Public Register.
Real Estate Salesperson Course (RES) 2020
How much does it cost to get a Singapore property agent licence?
Before you attain your licence and ID tag as a real estate agent, these are the costs you will need to prepare for:
1. Real Estate Salesperson (RES) course:
Generally in the $700-800 region at the various RES course providers (I'll list the better ones later in this article)
- If you’re an NTUC member, you can enjoy up to $250 UTAP subsidy for your RES Course.
- Singaporeans & Permanent Residents can utilise SkillsFuture credit of up to $500.
2. RES Exams:
-$417.30 (inclusive GST) for both papers.
- $235.40 (inclusive GST) per paper for re-takers.
After passing the exams, you would normally need to pay to register with a licensed estate agency.
- Real Estate Salesperson Registration fee: $53.50 + $230 annual CEA fees = $283.50
- Professional Indemnity Insurance: $120
- Agency levied admin fees for name cards/ID Tag/Start Up Course/Admin fees: $300-500 range.
What is the RES Course about?
Implemented in 2010, real estate agents must first complete the RES Course from CEA approved course providers.
This course will help you learn about and understand the rules and regulations governing property agency work and practices and Singapore's laws and guidelines in the buying, selling and renting of HDB flats, private apartments and condominiums, commercial business spaces and industrial properties.
To be frank, RES courses cover so many different areas that even practising property agents of many decades are unable to fully remember all the material.
Do not expect to pass on your first try and if you do decide to begin, remember that you are going to have to be a very determined soul and revise very hard to pass the exams.
Anecdotal evidence suggests a 20-30% pass rate out of every batch of exam takers.
Fortunately, we do have free RES exam revision sessions if you need help passing it.
Drop me a note about it if you wish to join in our RES revision sessions.
RES Course Attendee Requirements:
- Must be at least 21 years old
- Singaporean or Permanent Resident
- Minimum of 4 GCE ‘O’ level passes or equivalent (WPLN)
- Fulfils CEA fit and proper criteria
Real Estate Salesperson (RES) Exam Dates 2020
After completing the RES Course, you may register for the RES exam at SEAMEO Regional Language Centre (RELC), and must pass the 2 RES exam papers.
Exams are currently held 3 times a year during Feb, June and October.
You would be wise to register at least 2 months in advance as registration closes 1-2 months prior.
Exam Eligibility Criteria:
Exam candidates will need to comply the following:
- Complete the RES course with a minimum 75% attendance record before they are eligible to receive the
"Certificate of Completion for RES Course".
2 papers each (2 ½ hours per paper)
Both Papers 1 & 2:
- Section A: 50 Multiple Choice Questions (MCQs) - 1 mark each
- Section B: 15 MCQ with reference to 1 or 2 Case Studies – 2 marks each
- Section C: 10 Fill in the Blank Short Answer Questions (SAQs) - 2 marks each
- You will be notified by the exams administrator of your results.
- CEA stipulates a 2 years timeframe to passing both papers, starting from the date of issue of the Certificate of Completion of RES Course.
- If you fail to pass either paper, you will only have to retake that specific paper during the next exam.
- If you fail to pass both papers within the 2 years timeframe, you will have to retake the course and sit for both papers again. Ouch!
Appeal of RES Exam Results
If you believe that you should have passed the exams, you may submit an appeal to review your exam paper via SEAMEO Regional Language Centre (RELC),
CEA's appointed examination administrator, within 5 working days from the date of the notification of examination results.
A non-refundable fee of $64.20 (inclusive of GST) is charged for the review of each examination paper.
Important Note for Aspiring Property Agents and Foreigners:
Attending the RES Course and passing the RES Examination does not automatically qualify you to be a real estate salesperson.
You will have to comply with the full registration requirements stipulated under the Estate Agents Act, which include meeting the fit & proper criteria.
Do check the complete list of registration criteria on CEA’s website before registering for the RES Course so that you do not get a nasty surprise after passing the exams.
For foreigners who wish to register with CEA as salespersons, you will need a valid Employment Pass (EP) issued by the Ministry of Manpower (MOM).
After which, you will have to find an estate agency that is prepared to support your registration application, who would then check with CEA.
When registering for the RES Course, you will need to produce a letter of sponsorship from the estate agency. Yes, it is strict even for course-takers who are learning for the sake of it.
List of Recommended RES Course Providers 2020
There are many training centres and in case you are wondering which RES course provider to go for, this list will be helpful as I have heard good reviews from the new property agents who have joined us.
If you stay near to central areas, BenchMark RealPro and Real Centre Network are the best choices!
If you stay in the west, head to Pioneer Training & Consultancy.
If you are an East sider, head to Singapore Estate Agents Association.
BenchMark RealPro Pte Ltd (Highly Recommended! Passionate & awesome trainer David Huan)
Tel: 67355860 / 67355861
Venue: 151 Chin Swee Road #03-31 Manhattan House Singapore 169876.
Institute of Estate Agents
Tel No: 6323 1770
Venue: 480 Lorong 6 Toa Payoh #07-01 HDB Hub East Wing Singapore 310480
Pioneer Training & Consultancy Pte Ltd
Tel No: 6462 6093 / 9424 3483
Venue: Blk 134 Jurong Gateway Road #03-309P Singapore 600134
Real Centre Network Pte Ltd
Tel No: 6511 3009
Venue: 490 Lorong 6 Toa Payoh #09-16 HDB Hub Biz 3 Singapore 310490
*Update: RCN now has branches in Tampines and Jurong too.
Singapore Estate Agents Association
Tel No: 6702 1602 Email: email@example.com
Venue: 60 Paya Lebar Road #13-23 Paya Lebar Square Singapore 409051 (Office Lift Lobby 1)
Which Real Estate Agency Should I Join?
Congratulations if you managed to pass your exams! It was no mean feat!
By now you should have done your research on which real estate agency to join.
If you have not, read this article to find out which real estate agency should i join after passing my exams.
Finally, this is what you need to do:
Submitting a Salesperson Registration
Get an application form from your real estate agency and submit your salesperson application to CEA for the ‘In-Principle Approval‘ (IPA).
Approval of CEA Registration
Within 4-6 weeks, you should receive a notification of CEA's approval.
Congratulations! CEA has confirmed your registration with your agency.
You are ready to start on an exciting and rewarding real estate career!
Looking for great career mentorship to shorten your learning curve?
Drop me a WhatsApp/Email if you would like to start your career with our team!
Enjoy our 100% RES joining fee subsidies for brand new/experienced agents.
Limited slots available.
Co-Founder of Navis Living Group
Senior Associate Executive Director of OrangeTee & Tie
Stuart is a renowned leader and personality in the real estate industry. He is a licensed real estate agent, team leader, industry trainer and speaker, columnist for several property newsletters and blogs and is often quoted in media interviews on 938FM, Channel 8, PropertyReport, PropertyGuru and other publications.
Known as a star-maker, he has mentored many top million dollar producing agents and team leaders from different real estate agencies in Singapore.
P.P.S. Passed your RES Exams? Find out what steps to take next to quickly reach your goals!
P.P.P.S. Find out which real estate agency to join after passing your exams!