Interested in getting a real estate licence? Read this first. (2020)

Updated: Dec 8

 

Keen on exploring an exciting career in property sales?

 

Becoming licensed real estate agent is much tougher in this era than before and it requires much grit and determination to attend dense training sessions and pass the RES exams.

 

Let's get right into what you need to get started!

 

 

how to get a real estate licensehow to get a real estate license
A real estate career can be your ticket to financial freedom

 

 

How much it cost to get a 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 $650-800 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 exams.

 

- Singaporeans & Permanent Residents 25 years old and above can utilise their SkillsFuture credit of up to $500.

 

2. RES Exams:

 

$417.30 (inclusive GST) for 2 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.

 

Costs are:

 

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 Real Estate Salesperson (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. RES courses cover so many different areas that even practising real estate agents of more than a decade are unable to fully remember all the material. 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

Topics:

RES Course Exam TopicsRES Course Exam Topics
RES Course Exam Topics

 

Real Estate Salesperson (RES) Exams

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.

 

RES Exam Dates Schedule 2020RES Exam Dates Schedule 2020
RES Exam Dates Schedule 2020

 

 

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".

Exam Fees:

$417.30 (inclusive of GST) for 2 papers.

$235.40 (inclusive of GST) per paper for retakers.

Exam Format:

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

 

Exam Results:

- Exam Administrator will notify you of your results.

- RES course participants will have to pass the RES examination within 2 years from the date of issue of the Certificate of Completion of RES Course. 

- If you are unable to pass any remaining Papers within the 2-year timeframe, you will have to retake the RES course and sit for the full RES examination again i.e. both Papers 1 and 2.

 

Appeal of RES Exam Results

If you think 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 agent.

 

The applicant has to comply with the full registration requirements stipulated under the Estate Agents Act, which include meeting the fit & proper criteria.

 

Please check the complete list of registration criteria on CEA’s website before registering for the RES Course.

 

For foreigners who wish to register with CEA as salespersons, they will need to have a valid Employment Pass (EP) issued by the Ministry of Manpower (MOM).

 

They should consult an estate agency that is prepared to support their future registration application, who would then check with CEA.

 

Thereafter, when they register for the RES Course, they will need to produce a letter of sponsorship from the real estate agency.

 

Watch the video above to find out more about NAVIS - The Greatest Real Estate Team Ever!

 

List of Recommended CEA Approved Course Providers for the RES Course 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.

Details here:

BenchMark RealPro Pte Ltd (Highly Recommended! Passionate & awesome trainer David Huan)

Website: www.benchmarkrealpro.com

Tel: 67355860 / 67355861

Email: benchmarkrealpro@gmail.com

Venue: 151 Chin Swee Road #03-31 Manhattan House Singapore 169876.

Institute of Estate Agents 

Website: www.iea.sg

Tel No: 6323 1770

Email: courses@iea.sg

Venue: 480 Lorong 6 Toa Payoh #07-01 HDB Hub East Wing Singapore 310480

Pioneer Training & Consultancy Pte Ltd 

Website: www.pioneertraining.org

Tel No: 6462 6093 / 9424 3483

Email: pioneertc@gmail.com 

Venue: Blk 134 Jurong Gateway Road #03-309P Singapore 600134

Real Centre Network Pte Ltd 

Website: www.realcentrenetwork.com

Tel No: 6511 3009

Email: info@realcentrenetwork.com

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

Website: www.seaa.org.sg

Tel No: 6702 1602 Email: edu@seaa.org.sg

Venue: 60 Paya Lebar Road #13-23 Paya Lebar Square Singapore 409051 (Office Lift Lobby 1) 

 

Each real estate school has different RES course schedules to suit busy working adults or parents alike with courses such as weekends only, Saturdays only, specific weekday nights and express classes. Check them out here for a review and comparison of their costs and duration.

 

 

What happens after i pass my RES exams?

 

Congratulations if you managed to pass your exams! It was no mean feat!

 

By now you might have done your research on which agency to join.

 

Otherwise, the top 4 real estate agencies at the moment are OrangeTee & Tie, ERA, Propnex and Huttons.

 

If you are still searching for an agency, read this article to find out which real estate agency you should join after passing your 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 estate agency. You are ready to start on an exciting and rewarding real estate career!

 

 

Did this article provide you with ideas or inspiration?

 

Like, comment below and share this with your friends who are considering a career in real estate sales!

 

Looking for great real estate career mentorship to shorten your learning curve?

Drop me a WhatsApp/Email if you would like to start your career with our team or attend our next Career Seminar!

 

Stuart Chng

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.

 

- Enjoy 100% RES joining fee subsidies for brand new agents. Limited slots available.

 

P.S. Brand new and interested in the RES Course? Find out how to get your property licence and be a property agent 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!