New CEA Rules From 2027: Property Agents Must Close 3 Deals in 3 Years or Pass Refresher Exam

From the start of next year, property agents will have to complete at least three transactions over three years, or pass a refresher examination to remain in the industry. The changes kick in from Jan 1, 2027, and are part of an industry review to raise professional standards and improve transparency.

As at Jan 1, 2026, there were 32,967 agents who had been registered since 2023. About four in 10, or 12,920, did not complete at least three residential transactions between 2023 and 2025, CEA said. In the same period, the median number of residential transactions completed by each agent annually was two.

CEA explained that the three-deal figure was based on its 2024 Public Perception Survey, which found that 74% of consumers expect agents to complete at least one transaction a year to remain familiar with the latest rules and guidelines. Assessing the requirement over three years would allow for fluctuations in the property transaction activity, CEA added.

ERA Singapore key executive officer Eugene Lim estimated the total number of agents may fall by 10% to 20% after the first three-year cycle ends on Dec 31, 2029.

CEA will also start collecting agents’ commission data monthly and may publish aggregated industry figures to help prospective agents decide whether or not to join the industry. The number of property agents has gone up by almost 30% since Jan 1, 2017, from 28,397 then to 36,816 at the start of 2026.

The move to publish commission data could make joining the industry a less attractive option. Newcomers are often drawn by the potential for high earnings, with market watchers noting that a buoyant property market can add to that appeal. However, agencies noted that gross commission figures are not the same as agents’ take-home income, as they do not account for expenses like marketing, portal subscriptions, transport, professional development and operating costs.

PropNex associate group district director Loyalle Chin said the new requirement must be backed by robust checks to ensure that deals attributed to agents were genuinely handled by them. “For example, an active agent could pass transactions to a spouse who is registered but inactive, simply to help that person meet the threshold,” he said.

Over the longer term, the authorities are considering making the Housing Board’s Resale Flat Listing service the default platform for HDB resale advertisements. They are also studying whether property owners should be allowed to advertise directly on commercial portals, which could give homeowners more ways to transact independently and reduce the need for agents.

The changes come two months after CEA made it easier for buyers and sellers to view the disciplinary records of property agents online, following a rise in complaints and enforcement cases taken against agents. At present, agents do not need to close deals to keep their licences, as long as they meet annual Continuing Professional Development (CPD) requirements.

ERA’s Lim, who is also president of Singapore Institute of Estate Agents, noted that many real estate agents are graduates or mid-career workers who hope to be entrepreneurs. He pointed out that the Real Estate Salespersons exam is not easy and most people do not pass on their first attempt, adding that he does not expect the new refresher exam to be easy either. CEA has said it will continue consulting the industry before deciding which longer-term measures to implement.