CNA | 26 November 2012 1151 hrs

SINGAPORE

The first Public Perception Survey by the Council for Estate Agencies (CEA) has found that most consumers are satisfied with their property agents.

Eight out of 10 said they were satisfied with the conduct and services provided.

Seven out of 10 planned to recommend their agents to others.

Top of the list was service excellence with agents being contactable, responsive to queries and courteous at all times.

Bottom of the list was knowledge and expertise about the real estate industry.

Consumers felt that the agents should improve their knowledge so that they can advise customers on property transactions.

These include financial matters and accurate and up-to-date information related to the property.

Most consumers, more than 70 per cent, were also aware of key industry practices and regulations.

The awareness level among potential consumers came in lower, averaging about 60 per cent.

The survey also looked at feedback from the industry.

Most were supportive of the initiatives implemented by CEA to enhance professionalism in the sector.

Eighty per cent indicated that the regulatory measures and enforcement of minimum eligibility criteria for agents has helped raise the professionalism of the industry.

More than 90 per cent of agents found that the training that they received in the last 12 months, was effective in raising their professionalism.

The majority of them also indicated that they would require additional training on government rules and regulations and market information.

The survey was conducted between March and July this year.

Face-to-face interviews were conducted with more than 2,200 consumers and potential consumers.

An online survey was conducted with more than 1,700 property agents and key executive officers.

The findings will set the baseline for CEA to measure the progress of the industry in delivering professional service to consumers.

– CNA/ck