Opinion: Transaction Numbers Alone May Not Be the Best Measure of Property Agent Competence
Licensed real estate salesperson Lisa Khoo Wei Soon argues that the proposed requirement for property agents with fewer than three deals in three years to pass a refresher examination deserves further discussion. While welcoming the Government’s efforts to strengthen professionalism in the industry, she questions whether transaction volume is the best measure of professional readiness and raises concerns about the impact on mature workers and career-changers entering real estate.
Minimum in 3-year period
Required if threshold not met
Council for Estate Agencies
Mandatory annual training already exists
The Transaction Threshold Debate
Under the proposed licence renewal framework, salespersons who do not meet a minimum number of recognised transactions within each three-year registration period will have to pass a refresher examination before renewing their registration. The Council for Estate Agencies (CEA) has cited consumer expectations that agents should transact regularly to remain familiar with current regulations and market conditions.
Khoo questions whether this link between transaction volume and competence is supported by evidence. “Is there evidence that agents with fewer transactions are more likely to provide poorer service or face disciplinary action?” she asks, adding that if CEA has conducted such analyses, publishing them would help practitioners and consumers better understand the rationale behind the policy.
Impact on Career-Changers and Mature Workers
Khoo raises concerns about the wider implications for Singapore’s workforce. Real estate has long provided opportunities for people rebuilding careers after retrenchment, parents returning to work after raising children, and older Singaporeans who wish to remain economically active. These practitioners have already demonstrated their commitment by passing the Real Estate Salesperson examination, maintaining their registration, and completing mandatory Continuing Professional Development every year.
“Professionalism should be judged primarily by competence, ethical conduct, regulatory compliance and continuous learning, not transaction numbers alone,” Khoo writes. She suggests that if the objective is to keep practitioners current, enhanced refresher training may achieve that goal more effectively than introducing another pass-or-fail examination, which could create unnecessary barriers and anxiety for mature workers and those pursuing second careers.
Frequently Asked Questions
What is the proposed refresher exam for property agents?
Under the proposed framework, property agents who complete fewer than three recognised transactions within each three-year registration period would need to pass a refresher examination before renewing their licence with the Council for Estate Agencies (CEA).
Why does the writer question this approach?
Lisa Khoo argues there is no published evidence linking lower transaction volumes to poorer service or more disciplinary issues. She believes competence should be measured by ethical conduct, regulatory compliance, and continuous learning rather than transaction numbers alone.
What alternative does she suggest?
Enhanced refresher training rather than a pass-or-fail examination, which she says could create unnecessary barriers for mature workers, career-changers, and parents returning to the workforce.
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