Are you ready to get the ball rolling with Singapore’s Young & Dynamic Real Estate Agency?
Are you READY for a Challenging yet Rewarding move!
The journey towards becoming a real estate agent is definitely not an easy one. I am sure you would have seen posts on social media by agents about their fat cheques and commissions received. Though I don't fancy the showing off part, the posts are in actual fact REAL! The remunerations are CRAZY!
But before that, you need to get yourself well equipped to handle what the industry would eventually throw at you!
To kick-start your real estate career, you are required to attend the Real Estate Salesperson (RES) course and pass the RES Exams before you can be registered with the Council for Estate Agencies (CEA) as a real estate salesperson.
This following information will give you a rundown of what to expect on your journey towards attaining your license.
What is the Learning Outcome, Timeline and Costs Involved?
1. RES Course Fee 2023
The cost of the course ranges from $650 to $800 at various CEA Approved Course Providers (read on to find out about the list of our recommended providers)
Singaporeans and Permanent Residents above 25 years old can utilise their SkillsFuture credits of up to $500.
If you are an NTUC member, you get to enjoy up to $250 UTAP subsidy for your exams.
2. RES Examination Fees 2023
The RES Exams consist of 2 papers which cost $417.30 (inclusive of GST).
If you are retaking the exams, it will cost you $235.40 (inclusive of GST) for each paper.
After passing the papers, you will normally need to pay to register with a licensed estate agency and these are some of the costs to take note:
1. Real Estate Salesperson Registration Fee: $53.50 + $230 (annual CEA fee) = $283.50
2. Professional Indemnity Insurance: $120
3. Agency levied admin fee for name cards / ID Tag / Start Up Course etc: Ranges between $300 to $500
In total, you will need to set aside around $2,200 to obtain your real estate licence with a real estate agency IF you pass on the 1st attempt.
What is the RES Course about?
Under the Estate Agents Act, it is compulsory for potential property agents to attend and complete the RES Course conducted by a CEA Approved Course Provider.
This regulation is part of CEA’s goal to:
Increase quality standards for real estate agents wanting to pursue estate agency work.
Ensure property agents are professionally equipped and qualified.
Understand and practise good ethical standards.
The RES Course is a preparatory course for aspiring property agents to learn and understand the industry concepts and agency practice standards.
During the wide-spanning lessons, you will acquire in-depth knowledge on the rules, regulations, policies and procedures pertaining to the real estate agency practices like how you should handle a property transaction professionally and in compliance with government policies, state laws, and CEA’s prescribed rules and regulations.
It is truly alot of material and knowledge to remember and understand so, before you sign up for the course, please be mentally prepared and committed to studying really hard!
To put it rationally, the RES Course covers such a broad spectrum of the industry that even practising veteran real estate agents are unable to completely remember all the rules and regulations.
However, it does ensure that new property agents possess a much higher level of competency and knowledge of the real estate industry and related matters than before the exams were implemented.
To be qualified for the RES Course, you will have to meet these requirements:
1. Must be at least 21 years old
2. Singaporean or Permanent Resident
3. Minimum 4 GCE ‘O’ Level passes or equivalent (WPLN)
4. Fulfils CEA fit and proper criteria
2023 RES Exam Topics
Real Estate Salesperson (RES) Exams
After completing the RES Course with a minimum attendance rate of 75%, you will receive a certification that indicates that you have completed the course.
With this certification, you are then allowed to register for the RES Exams at the SEAMEO Regional Language Centre (RELC).
The exams are currently held 3 times a year during March, July and November.
In order not to miss your desired examination date, you should register at least 2 months in advance as registration closes 1 to 2 months prior.
RES Exam schedule & info
The Real Estate Salesperson (RES) Examination consists of two papers, Paper 1 and Paper 2. The duration of each paper is 2½ hours.
With effect from 2023, the format of both Paper 1 and Paper 2 is as follows:
Section A : 60 MCQs (60 marks) Section B : 20 MCQs with reference to 1 or 2 Case Studies (40 marks)
The duration of each paper is 2.5 hours
The objective is to ensure that candidates are able to analyse and interpret the issues in a practice-oriented case study context.
Paper 1 tests you on:
Competency Unit 1 comprising of “Real Estate Agency Industry Overview and Basic Land Law Concepts”
Competency Unit 2 comprising of “Dealings with Interests in Land”
Paper 2 tests you on:
Competency Unit 3 comprising of “Regulation of Real Estate Agency Industry and Real Estate Marketing”
Competency Unit 4 comprising of “Property Transactions”
You are required to pass both papers in order to obtain your licence. The passing mark for each examination paper is 60% and is subject to review by the Council for Estate Agencies (CEA).
RES Exams Results Notification
The Exam Administrator will notify you of your results.
Candidates who have passed one paper are allowed to retake the examination in modular sitting.
The exams results will be in one of the following formats:
Pass Paper 1; Fail Paper 2 (P1 F2)
Fail Paper 1; Pass Paper 2 (F1 P2)
It is a requirement for RES Course participants to pass the RES Exams, comprising two papers, within 2 years of getting your RES Course completion certificate.
If you have a modular pass in one paper of the RES Exams, you are required to pass the remaining paper within the 2 years timeframe.
If you fail to do so, the modular pass in one paper will not be valid and you will have to retake the RES course before attempting the RES Exams (i.e. both Paper 1 and Paper 2) again.
It is highly recommended that you join in our regular free RES Exam Revision sessions. Find out more about our revision sessions here.
Appeal Process for RES Exams Results
You may submit an appeal to review your 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.
Bear in mind that a non-refundable fee of $64.20 (inclusive of GST) will be charged per paper.
Other Important Pointers
Passing the exams does not automatically qualify you to be a real estate agent.
You still have to fulfill other criteria, which include approaching a registered estate agency to submit a salesperson registration application to CEA.
You can refer to CEA’s website (www.CEA.gov.sg) for the list of registration criteria before you register yourself for the RES Course.
For foreigners exploring a career in property sales, you will need to have a valid Employment Pass (EP) issued by the Ministry of Manpower (MOM) before you can register with CEA as a real estate salesperson.
You will need to produce a letter of sponsorship issued by your real estate agency when you register for the RES Course.
Hence, you should start by first searching for an established real estate agency which is willing to hire you, to support you in your registration application and guide you through the process.
CEA Recommended Approved Course Providers (ACPs)
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 the 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 lander, head to Singapore Estate Agents Association.
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.
Congratulations! You deserve a pat on your back for enduring through the intensive training lessons and exams.
By now, you should have done your research on which agency you should join.
There are several real estate agencies in the market and it can be a tough decision to select one.
For your reference, the current Top 5 real estate agencies in the market are SRI, Huttons, OT&T, ERA and Propnex
These are the biggest and most popular real estate agencies in Singapore that has established systems in place to help you accelerate in your real estate career. The most dynamic and upcoming agency in the last 1 year surely has to be SRI and the numbers don't lie. This is where the bosses are also practicing agents. This makes a big difference as the company understands and feels the ground and adapts with calculated flexibility.
Last but not least …
Submitting a Salesperson Registration
Get an application form from your agency and submit your application to CEA for the ‘In-Principle Approval’ (IPA).
Approval of CEA Registration
Within 4 to 6 weeks, you should receive a notification of CEA’s approval and this means you are ready to start on your exciting and rewarding real estate career!
Welcome to our team!
Looking for a great career mentorship to shorten your learning curve?
Drop me a WhatsApp or Email me at email@example.com if you would like to start your career with our team or attend our next Real Estate Career Seminar!
Enjoy our 100% RES joining fee subsidies for brand new/experienced agents. Limited slots available.
My name is Raama and I am a real estate coach as well as a passionate digital marketer! I love engaging with like minded people and sharing ideas & methods that has worked for me with anyone who wishes to make a difference in their life.
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