The Queenstown area. Photo: Samuel Isaac Chua/EdgeProp Singapore
SINGAPORE (EDGEPROP) -- An alliance comprising well-known names within the real estate agency industry and property portals will come together to form an Alliance for Action (AfA) on Accurate Property Listings, according to an announcement by the Council for Estate Agencies (CEA) on Nov 5.
The alliance will work on eliminating the longstanding problem of dummy and duplicate property listings, a move which will better serve property consumers.
This is done through ways of authenticating property listings on the various listing portals.
For now, the AfA is proposing to develop a prototype digital platform to conduct checks on the authenticity of a property listing. The platform will also assign a unique serial number to each property before it can be published on the listing portals.
The prototype is slated to be built by mid-2022.
The AfA is co-led by the Singapore Estate Agents Association with the five largest property agencies — PropNex, ERA, OrangeTee & Tie, Huttons Asia and SRI.
EdgeProp Singapore will be a member of the AfA as well.
According to CEA, AfAs are industry-led coalitions that partner the government to explore, prototype and executive ideas over a six-month period.
The CEA will support the work of this particular AfA under the Real Estate Industry Transformation Map (ITM).
“The AfA on Accurate Property Listings seeks to provide a transparent, efficient and reliable property listing search experience for property consumers and their property agents. We are delighted to have the various key stakeholders in the real estate industry coming together and taking ownership to improve the property transaction process for property consumers and property agents,” says Lim Chee Hwee, executive director at CEA.
“The AfA on Accurate Property Listings seeks to provide a transparent, efficient and reliable property listing search experience for property consumers and their property agents. We are delighted to have the various key stakeholders in the real estate industry coming together and taking ownership to improve the property transaction process for property consumers and property agents,” says Adam Wang, president of the Singapore Estate Agents Association (SEAA).