Interested In A Real Estate Career?
Have you always wanted to build a career in real estate?
Follow the following steps to find out how you can become a Real Estate Salesperson (RES)!
Step 1: Am I eligible? Find out the criteria to becoming a Real Estate Salesperson
Step 2: Apply for the Real Estate Salesperson Course
Step 3: Apply for the Real Estate Salesperson Examination
Step 4: Register with a licensed estate agency
Step 5: Approval of CEA Registration
CRITERIA TO BECOMING A REAL ESTATE SALESPERSON
To become a RES, you need to fulfil the following criteria:
(1) Must be a Singaporean or a Singapore Permanent Resident (SPR) for over 10 years.
(2) Must be at least 21 years old.
(3) Must have a minimum of 4 GCE 'O' Level passes or equivalent.
(4) Possess a pass in the Real Estate Salesperson (RES) examination or equivalent.
(5) After attaining (4), be registered with CEA. You may contact me so I can assist to submit your salesperson registration to OrangeTee & Tie Pte Ltd.
(6) Must not be an existing licensee/Key Executive Officer of another licensed estate agent. If you are an existing KEO of a licensed estate agent, you will need to resign from the KEO position, before joining the new estate agent.
(7) Must not hold a moneylender's licence and not be an employee, director, or partner of a licensed moneylender.
(8) (Applicable only for returning and renewing salespersons) Complete at least 6 credit hours of continuing professional development (CPD) courses for each CPD cycle.
For KEOs/ Practising Directors/ Partners/ Salespersons:
(a) If you have de-registered for up to 2 years, you are required to fulfil the same number of CPD hours as if you did not leave the industry, before applying for registration.
(b) If you have de-registered for more than 2 years, you are required to take the RES course and pass the RES examination before applying for registration.
(9) Must be covered by a Professional Indemnity Insurance valid for at least one year from the commencement date of the registration.
(10) Must not be in arrears with the Central Provident Fund (CPF) Board for Medisave contribution.
(11) Fulfil the fit and proper criteria under the Estate Agents Act.
APPLY FOR THE REAL ESTATE SALESPERSON COURSE
To be a RES, you need to take a compulsory RES exam preparatory course before taking the examinations. Please note that only courses provided by CEA approved Course Providers will be recognised for licensing / registration purposes.
The Certificate of RES Course Completion has a validity period of 2 years for the purpose of determining eligibility to take the RES examination. Candidates are eligible to take the RES examination within 2 years from the completion date of their RES Course. Beyond the validity period, candidates will be required to attend and complete the RES course again before they become eligible to take the RES examination.
The RES courses generally cost between $650-800.
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.
List of CEA Approved Course Providers for the RES Course
Benchmark Realpro Pte Ltd
Website : www.benchmarkrealpro.com
Tel No: 6735 5860 / 6735 5861
Office: 151 Chin Swee Road #03-31 Manhattan House Singapore 169876
Hastor Property Services Pte Ltd
Website : www.hastor.com.sg
Tel No: 6252 2802
Office: Blk 190 Lorong 6 Toa Payoh #02-514 Singapore 310190
Institute of Estate Agents
Life Mastery Academy Pte Ltd
Pioneer Training & Consultancy Pte Ltd
Real Centre Network Pte Ltd
Realty International Associates Pte Ltd
Singapore Estate Agents Association
APPLY FOR THE REAL ESTATE SALESPERSON EXAMINATION
RES Examination Schedule
The RES examinations for 2020 will take place in the month of February, June and October. It will be on Sat & Sun, 930 to 12pm.
RES Examination Fees
Full Sitting (2 Papers) @ $417.30 (incl GST)
Modular Re-sitting (1 Paper) @ $235.40 (incl GST)
Note: Modular Re-Sitting is only applicable for candidates who have passed at least one paper of the RES examination. Examination fees are subjected to revision and may be changed without prior notice.
RES Examination Format
The format of both Paper 1 and Paper 2 is as follows:
Section A : 50 MCQs (50 marks)
Section B : 15 MCQs with reference to 1 or 2 Case Studies (30 marks)
Section C : 10 Fill-in-the-blank Short Answer Questions (20 marks)
Duration : 2 ½ hours per paper
RES Examination Syllabus
RES Examination Results Notification
Candidates who have taken the RES examination will receive an email notification from CEA's appointed examination administrator informing them of their examination results 4 - 6 weeks after the examination.
REGISTER WITH A LICENSED ESTATE AGENCY
Get an application form from your real estate agency and submit your salesperson application to CEA for the ‘In-Principle Approval‘ (IPA).
Below are the costs you would normally need to pay to register with a licensed estate agency.
Real Estate Salesperson Registration fee: $53.50 + $230 annual CEA fees = $283.50
Professional Indemnity Insurance: $120
Admin fees for name cards/ID Tag/Start Up Course/Admin fees: $300 -$500 range.
APPROVAL OF CEA REGISTRATION
Within 4-6 weeks, you should receive a notification of CEA's approval.
Congratulations! You are now all ready to start your career in real estate!
Looking for a mentor coach to kickstart you on your real estate career?
Contact me to find out more!