The Council for Estate Agencies (CEA) has issued a Practice Guiding principle to plug moral advertising by property agents. These guidelines were developed after consultation with property agents, industry associations, executive bodies such as the HDB and URA, and the Patrons Association of Singapore. These guidelines will have an application to all sorts of advertisements, including classifieds, pamphlets or flyers, net promoting, SMS and even social media.
With effect from 1 August 2011, property agents must:
1. Desist from using deceiving announcements and claims
Use of headlines such as "King of xxx (location) ", "Mr. Xxx (location", "Real Estate Consultant" or "Expert" are not authorized. Property agents must also ensure that any claims of expertise, specialization or success rate can be substantiated by verifiable records.
2. Display their pro details
Details like their name, registration/licence and contact numbers must be included in each advertisement. This is to prevent unlicensed agents from operating.
3. Guarantee correct contents in their ads
Advertisements aren't permitted to be inaccurate or misleading. So declarations of rates of return or rental yield must be substantiated, and convincing sources quoted. In the case of photos, only real photos could be used, including things e.g. the view from the unit and the actual interior. Agents are also not allowed to suggest or abet by-passing of any rules and regulations, e.g. helping owners to sell their HDB apartments before the Minimum Occupation Period.
4. Engage in responsible advertising
SMS property advertisements must provide a valid cell-phone number for clients to opt out of future messages, and SMS advertising can't happen between 10pm and 9am.
Property agents are also not allowed to market any property without the owner's consent. Those caught advertising other folk's unit or dummy ad or in the hope to get direct customers will be penalised as it is equivalent to bent code of behavior. If you think someone else is doing that, you'll report them to CEA in writing.
According to Mr. Lee Say Kee, Director (Regulatory Control) of CEA and Head honcho of CEA's Ethical Advertising Work Group, misleading and unauthorized advertisements are among the top 3 categories of public complaints. He further adds, "To date, we have issued 23 letters of guidance to realtors and salesman on such beefs. The Guidelines will supply clarity on the do's and don'ts of advertising, thereby raising pro and ethical standards in the industry."
Members of the general public who would like to lodge a complaint can do so at the CEA internet site here: http://www.cea.gov.sg/cea/content/resources_faq/faqComplaintForm.html.
Will the general public finally be freed from the nuisance of spam SMSes and mailboxes full of property flyers? Let's see how effective the enforcement of these Guiding principles are!
Hope you enjoyed reading this Singapore property market article!
With effect from 1 August 2011, property agents must:
1. Desist from using deceiving announcements and claims
Use of headlines such as "King of xxx (location) ", "Mr. Xxx (location", "Real Estate Consultant" or "Expert" are not authorized. Property agents must also ensure that any claims of expertise, specialization or success rate can be substantiated by verifiable records.
2. Display their pro details
Details like their name, registration/licence and contact numbers must be included in each advertisement. This is to prevent unlicensed agents from operating.
3. Guarantee correct contents in their ads
Advertisements aren't permitted to be inaccurate or misleading. So declarations of rates of return or rental yield must be substantiated, and convincing sources quoted. In the case of photos, only real photos could be used, including things e.g. the view from the unit and the actual interior. Agents are also not allowed to suggest or abet by-passing of any rules and regulations, e.g. helping owners to sell their HDB apartments before the Minimum Occupation Period.
4. Engage in responsible advertising
SMS property advertisements must provide a valid cell-phone number for clients to opt out of future messages, and SMS advertising can't happen between 10pm and 9am.
Property agents are also not allowed to market any property without the owner's consent. Those caught advertising other folk's unit or dummy ad or in the hope to get direct customers will be penalised as it is equivalent to bent code of behavior. If you think someone else is doing that, you'll report them to CEA in writing.
According to Mr. Lee Say Kee, Director (Regulatory Control) of CEA and Head honcho of CEA's Ethical Advertising Work Group, misleading and unauthorized advertisements are among the top 3 categories of public complaints. He further adds, "To date, we have issued 23 letters of guidance to realtors and salesman on such beefs. The Guidelines will supply clarity on the do's and don'ts of advertising, thereby raising pro and ethical standards in the industry."
Members of the general public who would like to lodge a complaint can do so at the CEA internet site here: http://www.cea.gov.sg/cea/content/resources_faq/faqComplaintForm.html.
Will the general public finally be freed from the nuisance of spam SMSes and mailboxes full of property flyers? Let's see how effective the enforcement of these Guiding principles are!
Hope you enjoyed reading this Singapore property market article!
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