Real Estate Industry Transformation Map 2025 unveiled during SEAA Awards

/ EdgeProp Singapore |

September 9, 2022 5:23 PM SGT

The SEAA SG Real Estate Agents Excellence Awards saw more than 600 award participants

SINGAPORE (EDGEPROP) - Key initiatives of the Real Estate Industry Transformation MAP (ITM) 2025 were unveiled during the Singapore Estate Agent’s Association (SEAA) SG Real Estate Agents Excellence Awards on Sept 9. The annual awards event recognises outstanding transaction performance by real estate agents in Singapore.

The Real Estate ITM 2025 is an industry roadmap for the transformation of the real estate industry to be future-ready. SEAA is the largest representative body for real estate salespersons in Singapore.

The awards event was graced by Tan Kiat How, Senior Minister of State, Ministry of Communications and Information & Ministry of National Development.

“I thank all industry leaders and partners in the real estate sector for actively contributing to discussions and collectively shaping the Real Estate ITM 2025. Our vision (for the Real Estate ITM 2025) is that consumers will be served by property agents who are client-centric and professional, and, and who will uphold the highest standards of integrity,” says Tan.

The Council for Estate Agencies (CEA), the industry regulator for real estate salespersons, will drive the implementation of the ITM alongside industry partners and stakeholders.

The ITM aims to give consumers access to more digitalised and secure property transactions with better and faster services provided by salespersons. Meanwhile, property agents will benefit from a more robust access to technology-enabled services.

Three key strategies

The first strategic thrust under the ITM will be to reinforce confidence in the digitalised property transaction process. A prototype digital platform to tackle the longstanding problem of duplicate, unauthorised, and inaccurate property listings will be gradually rolled out from 1H2023. The platform will conduct verification checks on online listings before they can be published by agents and agencies.

This is led by the Alliance for Action (AfA) on Accurate Property Listings, which was commissioned in Nov 2021. The AfA is co-led by SEAA, property listings portals PropertyGuru and 99.co, the five largest property agencies (PropNex Realty, ERA Realty, Huttons Asia, OrangeTee & Tie, and SRI), as well as property listing and news portal EdgeProp Singapore.

Under the ITM, HDB will enhance its Flat Portal with three new features: migrating the HDB Dlat Eligibility letter online, an integrated loan application service with participating financial institutions, and a digital platform to guide first time buyers.

The second strategic thrust under the ITM will see a more robust technology adoption by property agencies, more emphasis and support will be provided to small and medium-sized property agencies to build up their digital capabilities.

The final strategic thrust will enhance the skills development framework for property agents. This will be led by CEA who will enhance the existing Continuing Professional Development (CPD) framework, collaborating with agencies, industry associations, and course providers.

Recognising top achievers

The SEAA SG Real Estate Agents Excellence Awards saw more than 600 award participants from large to boutique-sized agencies. This is the third year that the awards have been organised.

“Many of our awardees are already stellar performers in their agencies. We are glad that EA2022 helps to elevate the profile of salesperson on the National Level, on top of the many awards that they received from their agencies,” says Adam Wang, president of SEAA.

Some of the award categories include the Outstanding Youths Award, the Rookies Award, and the Senior Achievers Award. Other salesperson achievement awards were presented to more than 600 recipients.

“The publishing of the award received by the awardees on their respective profiles on CEA Public Register amplifies their exemplary performance in sales and rental transactions for the year 2021, and I am sure the prestige of the awards will spur your peers to do better next year,” says Wang.

New SEAA logo unveiled

SEAA also took the opportunity to unveil a refreshed logo. The new design “represents a forward moving association, as we aspire to move with the latest technology and bettering benefits for our members and partners,” says Wang.

Retaining the multi-colour design of the previous logo, the new SEAA logo is meant to project the “futuristic and uplifting energy of the association” says SEAA.

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