15% Commission To You!!*

RES Course Fees -  Reimburse!!*

 *Terms and Conditions Apply

Business Conference @ MBS March 2012

TOP Leader

TOP 10 DWG

TOP 10   

TOP 100 DWG

  Interview With Catherine Pang 
 What is a typical day like ?
A typical working day starts as early as 8am. My day will be spent either networking, meeting up with my associates or viewing appointment. In the day, I can easily meet up with three to four agents. During my free time, I will be planning for new strategies to bring the team’s sales to the next level.

 What are the qualities of a real estate top producers?
A top producers will focus efforts to win the confidence and trust of the client. Closing deal is latter. That means, a top producer looks after the interests of the client.  When in their position, a competent agent will plan carefully before making any proposal and suggestion.
 
 How do you feel when a client says “Definitely NO” during your negotiation?
We will close most deal. We do not close every deal. It could be due to pricing, time and purpose. We try to understand their reasons for saying “Definitely NO” 
Most of the time, it is a price and purpose issue. We will try our best to share with them why they must sell/ buy the property with the relevant data and information.

 How would you convince seller/buyer to engage you?
Communication and listening. My commitment, patience and effort to follow up will also encourage them.

Who/What motivates you to your success?
The credit should go to my husband, Mr Eric Lee. His consistent effort,  knowledge support in managing the mundane technical  research is valuable and commendable.

My three wonderful children and domestic helper. Without their love and understanding, I will not be able to concentrate on my work.

My division president, Mr Raymond Quah and his wife, Ms Sharlyn Neo, who unconditionally helped to build our team.

My achievement today is also the effort of our team & associates who have been willing to share their success and joy with me.

My faith in Jesus, who strengthen me with wisdom in any circumstances. Amen.

  Ask, Ask & Ask until you are convinced that there are minimum Three (3) Sources Of Income in Real Estate Business..

 " If you are one of the Gen Y and looking for   a career/business opportunity in real estate, it is good to leverage on senior managers who have minimum ten(10)  years of real estate experience. 

 Their 'hard earned' and lifelong experience is valuable; effectively saving time, energy, money and the learning journey. As the saying goes;

" Time is precious money ".

 However, you must look beyond their success stories and consider other fundamental factors affecting you. Their business philosophy and values may differ from your expectation.

Here is list of  questions you should ASK your "potential leader" and SEEK to receive a reasonable answer: 

1. Do you have a system to coach new associates?
2. Do you have experience with investors?
3. Do you have experience in prospecting activities such as: road show, door to door knocking, telemarketing?
4. Do you personally coach or share commission with associates? If yes, how much?
5. Do you provide listings for your associates?
6. Do you use technology in your business?
7. How do you help new associates secure exclusive listing?
8. How much is your expense on advertising and marketing activities?
9. How often do you coach and communicate with your associates?
10. How do you advertise with good response?
11.How do you monitor competitor activities and leverage on co-broke agents?
12. How do you close first transaction within weeks and without real estate experience?
13. How do you close transaction through FSBOs / FRBLs?
14. How do you close transaction with little or no advertisement costs?
15. How do you create competitive advantage for seller?
16. How do you ensure that clients can remember you?
17.How do you locate expired or expiring listings?
18. How do you respond to 'well informed' clients?
19.How do you secure agency service fee promptly and renewal?
20.How do you seek permission from 'open listings'?
21.How do you track new active listings?
22.How often do you conduct presentation to secure listings?
23.How many streams of income have you generated for your associates?
24. Is there a personal business development and financial plan for me?
25. Is there any other training, coaching and miscellaneous fees payable?
26. What are the project marketing and launches in your agency and my investment expense needed to join the core marketing team?
27. What are the team and division money making systems, programs and activities that I can participate?
28. What is the immediate startup fee payable?
29. What is your existing business revenue model, eg: HDB and private residential sales or commercial rental?
30. Will you accompany me during my first HDB appointment?
31. Will you accompany me in listing presentation?
32. Will you help me to prepare materials needed for my first listing?
33. Will you teach me online HDB financial calculations with sale and purchase process? 

With the above activities and system,  we expect you to earn at least Three (3) Sources Of Income as a real estate salesperson. You will differentiate yourself from other salesperson. You will be outstanding. You will be amazed.

Please clarify with us for a satisfactory answer.

There is another important thing you need to do:

 Talk About Me Marketing (TAM)?

The act of consumers providing information to other consumers.
Giving people a reason to talk about your products and services, and making it easier for that conversation to take place.
It is the art and science of building active, mutually beneficial consumer-to-consumer and consumer-to-marketer communications.

TAM  marketing is not about creating word of mouth -- it's learning how to make it work within a marketing objective to encourage and facilitate, eg referrals
Individuals can work hard to make people happier, they can listen to consumers, they can make it easier for them to tell their friends, and they can influence opinion about the good qualities of a product or service.
TAM marketing empowers people to share their experiences. It's  the voice of the customer for the good of the brand. and it's acknowledging that the unsatisfied customer is equally powerful.

TAM is authentic and cannot be faked or invented.
Attempting to fake word of mouth is unethical and creates a backlash, damages the brand, and tarnishes the corporate reputation. Legitimate word of mouth marketing acknowledges consumers’ intelligence -- it never attempts to fool them.
Ethical marketers reject all tactics related to manipulation, deception, infiltration, or dishonesty.

Any TAM marketing techniques are based on the concepts of customer satisfaction, two-way dialog, and transparent communications. The basic and essentials are:

• Educating people about your products and services
• Identifying people most likely to share their opinions
• Providing tools that make it easier to share information
• Studying how, where, and when opinions are being shared
• Listening and responding to supporters, detractors, and neutrals
Hence, it is to learn the art and science of creating effective marketing programs that get customers talking.

In my real estate business and as a salesperson, I embrace this 'professional' attitude so that  my clients will talk about me for the good and better best.

We know that you are frustrated!!

We know that you are feeling the pain of paying!!

We know that you are disappointed!!

We know the feeling of being marginalise!!

We know that you are helpless!!

We know that you need help!! We need one another!! 

Now is the time!! 

Rise up to the challenge!!

You must believe in your value!! 

You need to save money!! 

You need to earn money!!

You cannot work on your own!!

We will work together to achieve the mission!! 

Accept the change.

ASK !! ASK !! ASK!!  

 "WIFM "- What's In For Me? 

They passed RES examination on their first attempt.
They are above 50 years old.
They are consistent and focus.
They are either Singaporeans or SPRs.
They are hardworking and energetic.
They believe in the strategy.
They close transaction within weeks.
They do not own a vehicle.
They have an existing employment.
They have desire to be full time agent.
They have listing activities and responsibility.
They have no experience in real estate.
They have started to earn extra money.
They have consistent viewing arrangements.
They meet minimum once a week.
They passed WPLN test required for RES exam.
They follow a system.
They are in our team.

" Regardless of Good Market, Uncertain Market  - We Close Transactions Consistently "

(DWG corporate overall Top 30 producers for June 2011 - source Straits Times)

(DWG corporate overall Top 30 producers for August 2011 - source Straits Times)

 Why Be A Real Estate Salesperson?

Professional Career, Skill and Business Investment Opportunities
1. Dual Value - a consumer value and an investment value
2. Exercise own creativity in sales
3. Flexible working hours
4. Highest return per transaction
5. Minimum entry barrier
6. Minimum start up cost
7. Minimum working knowledge
8. More money changes hands in real estate than in any other business
9. No expert knowledge needed
10. No income ceiling
11. No sales income ceiling
12. Real Estate is an important part of our life.
13. Real estate provides the highest returns.  

 Success: Success is the ability to go from one failure to another with no loss of enthusiasm. Quote: Sir Winston Churchill (1874 - 1965)

 ps:  You are 'risk free'

We believe that any property is marketable.
If you are selling your property, We invest in massive marketing expense.
If the unit is not sold, You own the property.
If the unit is sold, It is rarely a matter of LUCK.
We have a team of Top producers and "fresh salesperson" who will work diligently on your property many times weekly until it is sold.
Unless the property is sold, there is no marketing costs to you.
We will embark immediately in massive marketing actions.

We want to earn our reputation with results.

(One Amber sold in 40 days by Catherine Pang - picture courtesy of Louis Yeap)

" Give our team a chance and experience the difference. You have more to gain when you engage our service."

" 选人比用人更重要 "

(Changi Court sold in 5 days by Catherine Pang - picture courtesy of Louis Yeap)

  Face It, Get Real !!This Is A Salient Point  

Yes, Let's get real and be real about it. You MUST STOP  ALL kinds of 'monkey tricks' and 'unscrupulous' advertising tactics if you intend to stay in real estate business.

Otherwise, the Law, the Act, the Council, the Agency, the Associates, the Public and the Society will not 'tolerate'  you. They cannot be kind to you. You MUST be ethical and competent in your estate agent work.   

This business is also not about being the 'largest', 'biggest', 'glamour award',  'famous brand',  'best agency',  'freebies',  'registration fee absorbed',  'subsidised fee',  'payment for your business expense', 'free buffet' or anything else.. etc

Most of us are 'associates' of the estate agency. Hence, we are responsible for our performance and conduct regardless of the size and popularity of the estate agency. This is another cruelty of the business.

 Let me remind you:  There is Nothing For FREE &  Freeeeeeee.. etc 

You must understand that you are going to embark on your  'Your Own Business'. You must be aware of your own expense. You must be able to earn and be responsible for your decisions and challenges.

  You can choose to ignore this warning:    The business is about "CLOSING DEALS" and You HAVE To EARN IT!!

 Let me explain; it is a competitive industry and there are approximately thirty thousand (30K) registered real estate salesperson agent (RSA) since 01 January 2011. 

An unverified survey article, headline this; '30% Of RSA WILL NOT REGISTER FOR LICENCE'. It is easy to understand the rational and sentiments. The reason is simply because these RSA has 'no sale transaction' and 'no sustainable revenue income'. Hence, there is no justification or reasons for RSA to 'incur' these expense. By now, you should realised that there are costs involved to upkeep the 'licence.'

 So, Do you have a Reason To Continue in the business?

Do you have the USP and Competitive Advantage?

When you are in the real estate business, you MUST have the determination to succeed. It  will strengthen your desire. Ask yourself this question regularly;

" Why I Did Not Close The Deal? " 

You MUST know the reason and answer: "WHY"

I learnt the 'hard way' and understand the frustrations and disappointment for not closing the deal. I believe that the reason the deal is "lost" because you might not have a Strategy. You might not have the Skills. You might not have an Unique Selling Preposition (USP). You might not know the Competitive Advantage.

That means; " You are not guided to succeed in this business."

You may also have past experience of Fears and Doubts like;

Who is the competitor of the 'deal'?
Who is in a better position to close 'the deal'?
Who can help you to close 'the deal'?
Who can support and work with you to close 'the deal'?
Who can respond to you in time of need to close 'the deal'?
Who can assist you with explanation to the clients in order to 'the deal'?.. etc

Remember: We are measured by sale transaction and results. Hence, the person who brings the cheque and closes the deal is the champion and winner.

YOU need to make a irrevocable resolution to overcome these 'obstacles'. 

You MUST know the reasons:

"WHY You Did Not Close The Deal".

That is the reality and cruelty of life.

 If you feel that this message is about you or have a similar experience to any of the abovementioned circumstances and challenges, Do Not Procrastinate any more;

'It is time to CHANGE.'

 Make a decision: 'To Continue' or 'DropOut'.

It is said that 70 per cent of salesperson don't leave their jobs - they leave their managers.

So, you will ask "WIFM - What's In For Me"

Come and talk to us for one hour and receive a life changing encounter. 

Your are fortunate to discover this website and read the message. We have put in extra effort to encourage and convince our associates and salesperson.

We want to help them to succeed.

Give yourself another chance. Come and meet us. You will be motivated to persevere and build your real estate business together with us.

"We must be humble to learn and listen. We must be silent before we can listen. We must listen before we can learn. We must learn before we can prepare. We must prepare to serve. We must serve with joy and love" Quote: Top 30 Producers in 2011 - Catherine Pang/Div Dir

  We Mean What We Say 
Are you Urgently Selling/Leasing Property?
Our success rate is 90% within 60 days.
If your property is still not selling and no rental in sight, you should talk to us.
We deliver results for our listings within weeks with our strategic platform.

We have more resources. We have wider network reach. We have faster sale results.  We are proactive in marketing. We are hardworking. We can attract good clients.
 Our business is only real estate. Our stakes are high. Our reputation is at stake. Our reputation are earned.

We do not promise. We deliver our promise.

If you expect the best price for your property. You should expect the a competent agent. You should refuse to comprise your investment. You should refuse to comprise your property.

Customer Service: it is not the big things that you do for  your clients that makes you successful. (unknown author)

 Testimonials  

Catherine was recommended to me through a friend. When I first talked to her over the phone, she came across as a very approachable and understanding person. She is very well knowledgeable about the current rules and regulations set by HDB. I was able to clear any doubts with her clearly.

When we met for the first time, she explained well about all the documents which I had to sign, not only to me but also to my ex-hubby.

Catherine always kept me updated on the status of my house and ensured that the documents were all in correct order when given to the HDB.

With her cheerful deposition, she was always confident that we will be able to sell the house within a short period of time, and we did! I thank Catherine for her resourcefulness of bringing in the potential buyers and also posting the pictures of my HDB flat on her website.

Without her determination and perseverance, I wouldn’t have been able to sell the flat at such a high price. I would recommend Catherine to anyone who wants to sell, buy or rent flats.

Thanks to Catherine, that I was able to move on in life!
Ms Bv d/o K Sengkang HDB Sep 2011

"Catherine is knowledgeable, tactful and yet humble agent" Mr Albert Tan - Ocean  Park Condo Oct 2010

"I have met many agents since coming to Singapore. Catherine is the kind of  agent that is needed by the industry. She is a very responsible and a good follow-up agent" Mr Bhavin - Waterplace Condo Jun 2009

"hi Catherine, thank you so much for your effort to help me find an affordable  house within such a short notice. We appreciate your effort" Ms Julia Ho - Villa Marina Condo July 2008

"Thank you very much, Catherine, appreciate your help and commitment to sell my house. Thank you for the regular updates" Mr William Koh - Loyang Villas Terrace July 2007

"Dear Catherine, appreciate your effort. Thank you so much" Mr Francis Lee - HDB Tampines June 2006

  Are You Inspired..?

Catherine PANG - Division Dir
 CEA Registration: R017886E   Cert-in-CEHA
+65 9680 4288

" In Real Estate Business, It Is Listings, Viewings And Results. " 

  Singapore Time

You are reminded of precious Time. You have read the Testimonials. You know that Real Estate is NOT a Plug and Play success. You need to Team up. You need to discover your Talent. You need Skills. You need Training. You must have a Desire to Succeed. You must have a Dream. You must have a Goal. You have ALL these OPPORTUNITY.. NOW!!

You MUST READ The Following Messages Before Making A Decision.

  Why Join Us ? 

Our team has engineered a system that is proven to be simple and costs effective especially for new associates.
It is available immediately when you join as our associates.
With our strategy and system, you will be able to "jump start" with a mentor immediately.
We will establish a personal business development plan.
Regardless of your past experience, you will be guided for each progress and response immediately.
In this arrangement, associates stay united and focused in consistently achieving excellent results.

When you join us, you will immediately embarked on a series of training starting from daily and finally weekly sessions. 

Our sessions are full of real life case studies. Relevant information provided are rehearse in private sessions before meeting your first client. 

We take your success very seriously.
In fact, your first transaction is our priority and focus.

    没有钱不是失败!  没有商业模式才是真正的失败!  Quote: Lin Wei Xian-Money & You

Welcome   欢迎   歡迎   benvenuto   ترحيب καλωσόρισμα    خوش آمد   Chào mừng willkommen   maligayang pagdating   خوش آمدید Bienvenue    환영   welkom   Velkommen  добро пожаловать   boas-vindas Tervetuloa
ようこそ  powitanie   Välkommen   bienvenida ยินดีต้อนรับคุณ   ברוך הבא   hoşgeldiniz   Selamat Datang   স্বাগত   आपका स्वागत है స్వాగతం   நல்வரவு

 Catherine PANG - Division Director

Focus: " If You can Focus and Belief,  We will guide, train and share our proven successful system with You. We can achieve success together " Quote:12 years real estate experience -Catherine Pang

 My Profile

Joined Dennis Wee Group since 1999.
Passed and Awarded the Common Examination for Housing Agent (Cert-In-CEHA) Since 2000.
Singapore Accredited Estate Agents (SAEA)- 2006 to 2010
Practicing Certificate by Institute of Estate Agents (IEA) -  Code of Conduct And Ethics From 2008 To 2010. 
Diploma in Management Studies (Singapore Institute of Management)
Diploma in Electrical Engineering (Singapore Polytechnic)
Top 100 Producers from 2001 to 2010 - TOP Producer DWG
Past President of Business Networking International (BNI-Excellence Chapter)
God has blessed me with a wonderful family, husband and 3 lovely children.

<Secrets Revealed>

 Our Values And The Keys To Success 

My Word Is My Integrity

I Do All Things 100%

My Mood Does Not Affect My Attitude

I Don't Argue Over Small Issues

Fear Doesn't Stop Me

I Don't Take Things Personally

I Like To Share And Love All

I Appreciate Health

I Never Give Up

I Have Faith In Him

Keep Asking, Seeking, Knocking "Ask, and it will be given to you;  Seek, and you will find; Knock, and it will be opened to  you". "For everyone who asks receives, and he who seeks, finds, and to him who knocks it will be opened". Matthew 7: 7-8

 Perseverance:  Do not go where the path may lead. Go instead where there is no path and leave a trail. (unknown author     

Learn: Employ your time in improving  yourself by other men's writings so that you shall come easily by what others have laboured hard for (unknown author)

Progress: " Review what went wrong " (unknown author)

Price: Price is what you pay. Value is what you get.
Warren Buffett

Progress: Let us strive to improve ourselves, for we cannot remain stationary; one either progresses or retrogrades (unknown author)

Wealth: Change yourself and fortune will change with you (unknown author)

 " My associates' success is my joy " Quote: Catherine Pang

Change: If you focus on results, you will never change.
If you focus on change, you will get results (unknown author)

   My ATTITUDE Is   
Always making today my best day
Taking pride in a job well done
Treating others with respect
Isolating my negative thoughts
Treating every new task as an opportunity
Utilizing my skills daily
Doing the job right the first time
Expecting positive outcome daily
Speaking well of others everyday

 H+A+R+D+W+O+R+K = 8+1+18+4+23+15+18+11 = 98

ATTITUDE is 100

Congratulations!!

being consistently Friendly, Approachable, Helpful and Positive Attitude.

(courtesy of our president, Mr Raymond Quah, Agency-DWG)

  Be The Best Amongst Thousand 

Some of our associates have achieved their goals and rewards within six (6)  months to  twelve (12) months as salesperson in 2008, 2009 and 2010. 

Our team consists of (former);  MNC Executives, Business Owner, Insurance Agent, Army Officer (res), IT  Professional, Teacher, Eurasian and Other Races.

Foreign talent, associate and leader in our team are from America, Indonesia, Korea, Malaysia, Taiwan..
This year, we are recruiting salesperson from India, Myanmar, Philippines, PRC..
Our members have been
TOP Rookies - Commercial
TOP Rental Specialist
TOP Producers - Commercial
TOP Producers - Private

Our Division Is No.1 Service Commission Earner and Overall Corporate Top Producer In
1998, 1999, 2004, 2005, 2006, 2007 & 2009.
Are you the NEXT ?

Your Investment To Be A Real Estate Salesperson

  Real Estate Salesperson - RES Course  -  $728  

 RES  Examination Fee  -  $246.10  

             ---------------------------------- 

 Fees Payable To Apply For CEA Registration Number Valid From January -December 2012

 MND (CEA Registration Fee 2012) + Administration fee + Insolvency Bankruptcy Check  - $293.50

 Professional Indemnity Insurance 2012 - $120

E-Office System and Corporate Email 2012 - $120  

Corporate Access / CEA Badge +  Salesperson Name Card - $80

Total amount = $613.50

Learn All You Can - CPD Courses unlimited courses within 6 months + Accelerated Education Program + Workshops= $150

Appprentice Induction Program + Accelerated Education Program Workshops 6 hours + DWG Access Pass = $160

 ART Courses = $200/topic
1. Master the ARTS of Listing Presentation 
2. Master the ARTS of Negotiation & Closing 
3. Master the ARTS of GTA-setup 
4. Master the ARTS of Team Building & Leadership 

  * Fees are subject to changes. Salesperson migrating from other estate agency will be required to pay pro-rated fees on Professional Indemnity Insurance, E-office. Email, ID Badge and Name card.

Please prepare these 9 items:
1. Softcopy or 4 pcs of Passport Size Business Attire Photograph
(white background white blouse c/w black jacket/tie).
2. CEA Recognised Educational Certificate.
3. WPLN Certificates.
4. GCE 4 'O' Level Certificate.
5. RES/CES/CEA/CEHA Result Printout.
6. NRIC (front and back copy).
7. Payments in Cash or NETS only.
8. Bank account number /branch details
9. Letter of approval from Employer

 SPH AgentPic Form (optional one time payment $32.10)Agent's GIRO Commission Payment Form  

Click this linked for: Bankruptcy Individual Insolvency Search MND/CEA/HDB Undertaking Form

   Reminder: For New Industry Entrants 

•Must have 4 GCE “O” Levels; or
•4 GCE “O” Level passes taken over two sittings, but the passes must be for different subjects;
•WSQ Workplace Literacy and Numeracy (Speaking, writing, listening, Reading and Numeracy) = Level 5; or
•Equivalent; (subjected to CEA’s approval. kindly forward your request to CEA at contact_us@cea.gov.sg at least 1 week in advance) It will take 10 working days for CEA to assess and revert the outcome. (If you do not have a minimum 4 GCE 'O' Level, please  contact us before this seminar)

   Real Estate Industry To Be Regulated From 22 October 2010

The real estate industry in Singapore will be regulated by a new statutory board called Council for Estate Agencies (CEA) from 22 Oct 2010.

Parliament on 15 Sep 2010 passed the Estate Agents Bill paving the way for the formation of the CEA.

Agents who have passed any of the recognised industry exams before 22 Oct 2010 can continue to practise and be registered with CEA.

Agents who have not passed any of the recognised industry exams by 22 Oct 2010 but have at least 3 property transactions in the last 2 years from this date, can continue to practise and be registered with CEA but they have to pass any of the recognised industry exams by 31 Dec 2010 or pass the new    CEA exam between 01 Jan to 31 Dec 2011.

For agents who have not passed any of the recognised industry exams by 22  Oct 2010 and do not have at least 3 property transactions in the last 2 years  since 21 Oct 2008, they will be treated as new agents entering the industry. 

They are to stop practising and to take a new CEA course available from 1 Nov 2010 and pass the new CEA exam available from 01 Jan 2011 before they can be registered with CEA.

Agencies or agents caught operating without a licence or registration can be  fined up to $75,000 or jailed up to 3 years, or both. 

Recognised industry exams or its equivalent include the following:
1. CEHA
2. CES
3. CEA
4. NSRS
5. Pre-CEHA
6. Real Estate Agency Course (SISV)
7. Realtors Course (ASR)
8. Bachelor of Science - Real Estate (NUS)
9. Bachelor of Science - Estate Management (NUS)
10. Bachelor of Real Estate - Property Management (NUS)
11. Bachelor of Real Estate - Valuation (NUS)
12. Diploma in Building Management (Ngee Ann Poly)
13. Diploma in Building & Real Estate Management (Ngee Ann Poly)
14. Diploma in Real Estate Business (Ngee Ann Poly)
15. Diploma in Property Development & Facilities Mgt (Singapore Poly)
16. Diploma in Building & Property Management (Singapore Poly)

They will be allowed to register with CEA Council through the Agency. Individuals will be issued with an unique registration number by CEA.

Registration fee with CEA for each agent is  $293.50 (including GST) payable  through the Agency.  (source from Dennis Wee Group E-Office Website)

  Estate Agents (Estate Agency Work) Regulations 2010 Code Of Ethics & Professional Client Care  
The Estate Agents (Estate Agency Work) Regulations 2010  comprising also the Code Of Ethics & Professional Client  Care takes effect on 15 Nov 2010.

The Estate Agency Work (EAW) Regulations covers the  following:
1. No dual representation
2. No referrals to moneylenders
3. No holding of transaction monies
4. Use of Council symbols and representations
5. Display of estate agent card

The Code Of Ethics  &  Professional Client Care covers the following:
1. Knowledge of and compliance with applicable laws, practice circulars and guidelines
2. Due diligence and compliance with law and statutory requirements
3. General duty to clients and public
4. Not to bring discredit or disrepute to real estate industry
5. Duty to clients in relation to signing of documents
6. Obligations in respect of agreements
7. Conveying offers, counter offers, etc
8. Interpretation or translation if necessary
9. Duties in respect of advertisements
10. Duty to avoid conflict of interests
11. Recommending professional advice where appropriate
12. Safeguarding confidential informatio n
(source CEA website www.cea.gov.sg)

 Council Of Estate Agents (CEA)

For more details on the new regulatory framework,  please visit the Ministry Of National Development www.mnd.gov.sg and  Council Of Estate Agencies www.cea.gov.sg 

The Executive Director
Council for Estate Agencies
Licensing and Investigations Dept, 490 Lorong 6, Toa Payoh #05-10, HDB Hub Biz 3 (Lift Lobby 1) Singapore 310480 

Compliant Hotline : 1800 643 2555 (8.30am to 5pm)

 (source CEA website www.cea.gov.sg)

  RES Course Providers   

 CEA has approved 8 Approved Course Providers (ACPs) for the Real Estate Salesperson (RES).
More than 5,000 participants have attended the courses.
With effect from 03 October 2011, CEA will not be accepting new applications.

 Hastor Property Services Pte Ltd: 3 Lorong 6 Toa Payoh # 01-01 Singapore 319378. Tel No: 6559 8888

   Institutes of Estate Agents: 480 Toa Payoh Lorong 6  HDB Hub East Wing # 07-02 Singapore 310480  Tel: 6323 1770

Life  Mastery Academy Pte Ltd:  625  Lorong 4 Toa  Payoh, # 04-01, Singapore 319519.  Tel: 6590 8861/ 6590 8860

Pioneer Training & Consultancy Pte Ltd:18 TradeHub21 # 09-115 Boon Lay Way Singapore 609966. Tel No: 6462 6093 / 9424 3483 

Real Centre Network Pte Ltd: 490 Lor 6 Toa Payoh, # 03‐12 HDB Hub, Biz Hub 3, Singapore 310490. Eunice - 9107 7773 or Angeline - 9456 3613  

Real Estate School: 220 Orchard Road, # 03-07 Midpoint Orchard, Singapore 238852 Tel No: 6736 1305 / 6736 1318 

RIA School of Real Estate: 743, Lorong 5 Toa Payoh Singapore 319457. Tel: 6226 2000 / 6866 1106

Singapore Accredited Estate Agencies  Ltd: Beach Road, # 12-11 Keypoint, Singapore 199597. Tel:  6293 6616

 (source CEA website www.cea.gov.sg)

  RES - Examination Format  

Effective from July 2011, each examination papers will be 2.5 hours)

  Paper 1: 70 MCQs and 15 short answer questions (100 marks)

  Paper 2: Part I: 60 MCQs (carries 60 marks)
                       Part II: 60 MCQs (max 40 marks) 

Effective from the July 2011 RES examination, modular passing will be allowed.  The results for July 2011 RES examination onwards will be in one of the following formats:

• Pass (P)
• Fail (F)
• Pass Paper 1; Fail Paper 2 (P1 F2)
• Fail Paper 1; Pass Paper 2 (F1 P2)

Candidates will be allowed to retake only their failed Paper  at $149.80 (inclusive of GST) per paper per candidate retaking the exam (with effect from the August 2011 RES examination onwards).

There shall be no retrospective consideration of results from earlier examinations taken from Jan to Jun 2011.

Important Note: There is no change to the examination requirement for RES course participants to pass the RES examination within 2 years from the date of issuance of the Certificate of Completion of RES Course.

If they are unable to pass the remaining Paper within the 2-year timeframe, they will have to re-take the RES course and take the full RES examination i.e. both Papers 1 and 2.

 Click here to review the RES examination syllabus

(source CEA website www.cea.gov.sg)

  WPLN Centres and E2I 

The CET centres providing WPL, WPN and WPS training are:
•SSA Consulting Group Pte Ltd   (Kembangan MRT)
5 Jalan Masjid, #01- 04 Kembangan Court Singapore 418924

 Kembangan SSA Consulting Group, Fenara Court 3 #01-01, Jalan Wakaff Tel: +65 6842 2282  Fax: +65 6842 2202

 Redhill Singapore Workforce Development Agency, 141 Redhill Road, Blk B #02-11 Tel: 6883 5885

 Bras Basah NTUC LearningHub, NTUC Trade Union House, 73 Bras Basah Road, #05-01 Tel: 64712223

 Kaplan City Campus Kaplan Professional, Starhub Centre, 51 Cuppage Road, #01-09 Tel: 62380403

 Jurong Training Vision, Informatics Building, 12 Science Center Road, Level 2 Tel: 64673341  

Employment and Employability Institute
141, Redhill Road Block B, #02-11,
Singapore 158828  Tel: 6883 5885 Fax: 6471 7106

Email : wda_ces_enquiry@wda.gov.sg

 Six-month Lock-out Period : Test-takers who have not undergone or completed the WPLN  training programme after the pre-training assessment have to observe a 6-month lock out period between assessments.

More details at :  E2I Employment and Employability Institute  (source www.wda.gov.sg)

 All applicants also have to pass the Real Estate Salesperson (RES) examination  and  fulfil all other registration criteria for registration with CEA. 

 RES - Examination Centres And Appeal Process

 The RES Examination will be held on the 2nd weekend (Sat and Sun) of every month. The fee for each RES examination is $246.10 (inclusive of GST) per candidate, and $149.80 (inclusive of GST) per paper per candidate retaking the exam (with effect from the August 2011 RES examination onwards)

CEA's Appointed Exam Administrators For RES Examinations:
NTUC LearningHub
  www.ntuclearninghub.com/res-exam
Tel No: 6471 2223  Email: enquiries@ntuclearninghub.com
Office: 73 Bras Basah Road # 02-01 Singapore 189556

Informatics
 www.informaticseducation.com/iee
Tel no: 6580 4582 Email: IAI@informaticseducation.com  Office: 133 Middle Road # 04-01 Bank of China Plaza, Singapore 188974.

There is no change to the examination requirement for RES course participants to pass the RES examination within 2 years from the date of issuance of the Certificate of Completion of RES Course.

If they are unable to pass the remaining Paper within the 2-year timeframe, they will have to re-take the RES course and take the full RES examination i.e. both Papers 1 and 2.

For candidates taking the RES examinations who wish to appeal on their results, the following process will apply:

All appeals must be made in writing to CEA's Appointed Exam Administrators (AEAs) on prescribed forms within 7 working days from and including the day of release of assessment results.
Candidates can only appeal for failed paper

An administrative fee (non-refundable) of $53.50 (inclusive of GST) per paper will be imposed
Candidates will not be shown their answer scripts.

They will be informed in writing of the outcome of the appeal within 14 working days from day of submission of appeal

 Continuing Professional Development (CPD) Course

   Frequently Asked Questions (FAQs) on Continuing Professional Development (CPD)

    FAQs - NO Fixed Commission, NO Guideline 

 Will CEA regulate the commission rates under the new regulatory framework?

CEA WILL NOT FIX  the commission rates charged by salespersons as the absence of commission guidelines would lead to a more competitive pricing among the estate agents. Consumers are advised to find out the different commission rates and they can negotiate the commission rate before engaging an estate agent. (source CEA website www.cea.gov.sg)

 Advertisement Guidelines

PRACTICE GUIDELINES TO RAISE PROFESSIONALISM OF ESTATE AGENTS & SALESPERSONS
The Council for Estate Agencies (CEA) issued two Practice Guidelines today to promote ethical advertising in the real estate agency industry and to guide the use of prescribed estate agency agreements.
Practice Guidelines on Ethical Advertising
1. The Practice Guidelines on Ethical Advertising provides directions and establishes best practices on the use of advertisements for the real estate agency industry. The guidelines were developed in consultation with estate agents, industry associations, government bodies (eg. HDB and URA), and the Consumers Association of Singapore. They are applicable to all modes of advertisements, including classified advertisements, pamphlets or flyers, online advertising, short messaging services (SMS) and the social media.
2. With effect from 01 August 2011, misleading headlines and claims such as “Advance loans available’, “Real Estate Specialist” and “King of X X (Name of Estate)” will not be allowed in advertisements and publicity collaterals. Other key points include the following:
a. Display Details of Estate Agents and Salespersons
Salesperson’s name, registration number and contact number
Estate agent’s name and licence number
b. Accurate Advertisement Contents
Basis of claims such as rates of return, yield rates, etc, must be indicated and substantiated
Accurate use of photographs
No abetment or suggestion to circumvent existing laws and regulations such as selling of HDB flats before minimum occupation period
Advertisements in internet postings and portals must be kept current
c. Responsible Advertising
SMS text advertisements must provide a mobile telephone number for consumers to opt out of future SMS advertisements
No SMS advertising or cold calling after 10pm
d. Responsible Use of Data
No disclosure of transacted properties’ specific floor levels and/or unit addresses without client’s approval  

Click here for Advertisement Consent Form

(source from www.cea.gov.sg)

 Recruitment Enquiry Hotline  

Catherine PANG - Division Director
 CEA Registration: R017886E  Cert-in-CEHA
+65 9680 4288

 catherinepang@dwg.com.sg

  Corporate Vision 

Our Corporate Vision: To be recognised for our commitment to high standard of excellence, value added services to clientele and to provide a comprehensive range of quality  and  affordable training, that will position  DWG as the Top Real Estate Agency in the industry.

 Opportunity: Well, real estate is always good, as far as I'm concerned. Quote: Donald Trump

  Corporate Mission 

Our Corporate Mission: We are passionate about improving the quality of life for all Real Estate Salesperson.

 Appreciation - Clients 

 Thank you for your  trust and confidence with me. With your support and blessings, our life is hopeful.

 Appreciation - Associates 

Thank you for your permission to co broke and joint effort to fulfil our business together.  We enjoyed viewing with you.

 Appreciation - DWG 

  has a monthly corporate recognition system in the Toa Payoh Corporate Office to acknowledge the performance of associates.  Every month, TOP Producers and Outstanding Leaders are featured prominently along the corridor. I am privilege to receive seven (7)  appearances from  December 2010 - February 2011. 

Our team was named the TOP Recruiter in May 2011.

In June and August 2011, I am glad to be amongst the 30 Top Producers in DWG.

Glory to God

 Appreciation - Ultimate Division 

My acknowledgement and  appreciation  to  Our President, Mr Raymond Quah (R017957H)  and
Our Mentor, Ms  Sharlyn Neo (R018580B)  for their earnest encouragement and relentless support since 1999.

  Recruitment Exercise

Karaoke Finale Sep 2010

Retreat Oct 2010

  Appreciation - Family 

Special mention to my dearest husband, Eric Lee Cheng Hai ( R017884I). Without his understanding  and love, all these  achievements is not meaningful.

I am also bless with my home and 3 lovely  children. Yi Hui, Qian Hui and Jian Hong.  They are my source of fun and joy.

My sanctuary, Lord Jesus whom I seek peace, wisdom and strength.  With Him all things are possible. All praises and glory to His Name, Jesus

  Join Our Activities, Work Smart, Play Hard & Enjoy Life In 2011 

 Pleasure: Pleasure in the job puts perfection in the work Quote: Aristotle (384 - 322 BC)

 Take Action: Action is the foundational key to all success Quote: Pablo Picasso

Learning: Learning without thought is labour lost; thought without learning is perilous Quote: Confucius (551 - 479 BC)

  Currency Converter 

Mortagage Loan Calculator 

 All Glory To Jesus

 Free eBook 

The Master Key  / Think And Grow Rich  /

The Way Of Peace  /  As A Man Thinketh

 Forms For Salesperson

Form 1-Seller-Estate Agency Agreement For The Sale Of Residential Property
Form 2-Buyer-Estate Agency Agreement For The Purchase Of Residential Property
Form 3-Landlord-Estate Agency Agreement For The Lease Of Residential Property
Form 4-Tenant-Estate Agency Agreement For The Lease Of Residential Property
Form 5-Exclusive form-Commission For - Seller - Estate Agency Agreement For The Sale Of Residential Property
Form 6-Exclusive form - Commission For - Buyer - Estate Agency Agreement For The Purchase Of Residential Property
Form 7-Exclusive form - Commission For - Landlord - Estate Agency Agreement For The Lease Of Residential Property
Form 8-Exclusive form - Commission For - Tenant - Estate Agency Agreement For The Lease Of Residential Property

HDB OTP - Serialised Number (01 August 2012)

 Letter Of Intent - Residential (10 Mar 2011)
Offer To Purchase - Pte (01 Jan 2011)

Sale Option to Purchase - Pte 28 January 2012

Tenancy Agreement TA HDB - 01 Jan 2011

Tenancy Agreement - Private - 01 Jan 2011

Co-broke Letter - Sale (01 Jan 2011)
Co-broke Letter - Rental (01 Jan 2011)

HDB Financial Plan - Seller (20 Feb 2011)
HDB Financial Plan - Buyer (20 Feb 2011)
Inventory List (18 Mar 2009)

 Fees & Services

Warning: Prices are not updated and subject to GST.

 Commercial Purchase - $3800
Commercial Refinance - $3000
Commercial Sale - $3300
HDB Purchase - $2700
HDB Refinance - $2200
HDB Sale - $2700
HDB Redemption Of Bank Loan (to pay back Bank Loan) - $600
HDB Power of Attorney - $210
Private Purchase - $3800
Private Refinance - $3000
Private Sale - $3000

 Lawyer

Asia Law Corp Harry Sim Tel: 6222 2966

KSCGP Juris LLP Mrs Param Tel: 6591 7696

LawHub LLC Ms Margaret Neo Tel: 6359 0886
Sim Mong Teck & Partners (SMT&P): Mr Gary Leong Tel: 6736 6168
Vision Law Ms Agnes Ng Tel: 6358 0703
WLAW Mr William Lai Tel: 9668 2657

  Bank/Financial Institution 

CIMB Kim Tel: 91903689
DBS bank Ltd: Ms Adeline Kuah Tel: 9233 4874
Hong Leong Finance Limited: Ms Cecilia Chay Tel. 6778 6271 / 9780 4208
OCBC: Mr Aloysious Ong Tel: 9009 9115
RHB: Mr Daniel Tel: 8282 4883

UOB Mr Shaun Tel: 83230102
UOB Limited: Mr Chris Oh /Ms Ong Sok Leng Tel: 9696 5077/ 9168 8828

  Auction & Agency  
Credo Real Estate   Tel: 6227 6066

 Printer & Label
Risin International Ms Candice -  Tel: 6225 0186
Colour Xpress Printing Ms Chris Yam- Tel: 6276 2822
Sticker Label Mr Raymond Lee: Tel: 8163 4699
Sticker Mr Chua - Tel: 8571 6200

  Picture Me Business Photo 

Suntec City & United Square Tel: 6336 9453

  Plumber 
Mr Cheng Kiat - Tel: 9116 6267

  Painter 
Mr Robin - Tel: 8188 1412

  Handyman 
Mr James Lau - Tel: 9766 1868
Mr Boon - Tel: 9239 8753
Mr Lim - Tel: 98528951

  Electrical Appliances (white goods) 
Tat Hai Electrical Centre - Tel: 6555 7676
Ric Electrical - Tel: 6744 5514

  Area Cleaner 

Ms Mag - Tel: 9780 1975
Ms Christine - Tel: 9004 1479

  Electronic Door 

Biolock Singapore Mr Lim - Tel: 6266 1488

  Floor Revanish - Parquet 

Mr Sam / Mr Lim - Tel: 9889 4848 / 9852 8951

  Catering Food (Halal)   

 D Fine - Tel: 6267 8022
Monte Cristo - Tel: 6287 8714

  Insurance 
AIA Mr Francis Teo - Tel: 9745 9884
Prudential Mr Jun Hao - Tel: 96924228

  MM2H Malaysia 

353 3rd Floor Wisma MPL
Jalan Raja Chulan
50200 Kuala Lumpur Malaysia
Tel : +6 03 2070 3148 Fax : +6 03 20220174
email : johnching@ckten.com.my

 Websites

Business SingaporeStartup Licence  /  Bankruptcy Search  /  Central Provident Fund(CPF) / Council For Estate Agencies   /  Crimsonlogic  /  Consumers Association of Singapore (CASE)   / Central Provident Fund Board  / Contact Singapore    /  DBS /  Statistics  Department / Dennis Wee Group  / E-citizen  / E2I Employment and Employability Institute   /  Financial Investor Program(FIS)  /  Global Investor Program(GIP)    /  Housefly Bankrutcy Insolvency   /  Housing And Development Board  /  HSBC /  Immigration & Checkpoints Authority (ICA)  / INLIS Property Ownership Information SLA  /  Institute Of Estate Agency / Kaplan Professional  /   Long Term Visit Pass (LTVP)   /  Singapore Land Authority (SLA)  / Ministry of Manpower  /  Ministry Of National Development   /  MM2H Malaysia  / NTUC LearningHub /  OCBC  /  POSB /  Real Estate Salesperson (RES) Examination Syllabus  / Realis URA    / Service Literacy Test /  Singapore Academy Of Law / Singapore Accredited Estate Agencies (SAEA)   /  Singapore Institute of Arbitrators (SIArb)  /   Singapore Mediation Centre (SMC)  /  Singpost  / SSA Consulting Group Pte Ltd  / State Property Information Online (SPIO)   /  Training Vision Pte Ltd   / Tourism Board Singapore  / UOB /   UrbanFront Project Developer Name /  Urban Redevelopment Board / WPLN Test

  Blogging Websites

Housing Matters   /  Beyond SG /   Facebook GY  / Facebook KBW

   Quick Link

 PACS - Performance,Action,Closing Solutions

Adrianna Kang  CEA Reg: R901277I   hp: 9760 5340

Catherine Pang CEA Reg: R017886E hp: 9680 4288

Derrick Ang  CEA Reg: R017973Z  hp: 9877 1133

Eileen Koh  CEA Reg: R018487C  hp : 9684 7007
Eric Lee  CEA Reg: R017884I hp: 9386 6226

 Irene Leow  CEA Reg: R019296E hp: 8113 7557

Jeff Tang  CEA Reg: R019007E  hp: 9070 4840
Jonathon Teo  SK CEA Reg: R018622A  hp: 9222 1522

Martin Tan CEA Reg: R018364H hp: 9027 5785
Molly Liew CEA Reg: R018574H hp: 9815 5228

Lynne Ong CEA Reg: R042623J hp: 9856 6626

Patrick Tan  CEA: Reg: R017978J  hp: 9180 9810

Raymond Quah CEA Reg: R017957H hp: 9007 3437

Sharlyn Neo  CEA Reg: R018580B  hp: 9007 3438
Stephanie Hannah Tan  CEA Reg: R018596I  hp: 9690 6045

  For Sale 

 Camelot 4 rm 2744sf  $4.2M

Esta FH 2+1rm 1131sf $1396psf $1.58M

Regentville - 3 rm 1335sf $795psf  $1.061M

  Revenue and Career Opportunity
Opportunity to be leverage on us as buddy, partner and team leader;
1. Night Real Estate Telemarketer
Expectation: Singaporean to work part time with a pleasant personality.
Frequency: Weekdays Timings: 6.30pm to 9.30pm
Rate: Hourly with BONUSES
2. Day Real Estate Telemarketer
Expectation: Singaporean to work part time with a pleasant personality.
Frequency: Weekdays
Timing: 10.30am to 4.30pm
Rate: Hourly with BONUSES
3. Personal Assistant Manager
Expectation: Singaporean to be able to work flexi hours.
Frequency: Weekdays on Alternate Day
Timing: 10am to 5pm 

Catherine PANG - Div Dir
 CEA Registration: R017886E  Cert-in-CEHA
+65 9680 4288

Property Prices Will Rise In Melaka / Malaysia 2012 ?
 Invest Melaka 1

 Invest Melaka 2

 Historical Melaka 

You Can Buy Another 'MBS' -  Guaranteed Rental Return 7% x 2 years or 15%  from Developer.
Tallest Iconic Coastal City Tower – Downtown Retail Space – High Capital Appreciation
Quantun from S$185K only
Down-payment S$30K approx
Excellent Investment Return and Rare Opportunity..
Proven successful projects done in SINGAPORE and MALAYSIA ..
Touch and feel the city beat.
Come for discussion in heart of downtown SINGAPORE…

You Should Invest in OVERSEAS PROPERTY: I would like to bring your attention on the following matter.
Recently and since the implementation of several 'cooling measures' and ABSD, we have been receiving a steady flow and interest in real estate and property investments especially in foreign properties.
Clearly stories are now emerging where supposedly lucrative deals have ended up sleepless nightmares.
Much of these have come about as a result of pure ignorance in relation to foreign property investments which are at times fraught with many challenges not particularly highlighted by the vendor.
Some do not even know where and how to file tax (if required)
Others are clueless as to where and how to start the proper process of acquiring foreign properties and do not know how to evaluate the values of such properties offered vis-a-vis locality and other key considerations.
There surely must be a better way of investing..
Here's a chance for you to learn how to embark on your journey towards Investing in Overseas real estate.
Most importantly of all..
GET EDUCATED AT NO COST TO YOU!
We are providing one stop service to you 
EDUCATION ABSOLUTELY FREE !!!
We're serious..

No tuition fees or course fees to attend.
Nor will there be further course fees to pay subsequently.
Yes, I just want to share this with our existing investors and friends with time and purpose.
In every real estate investment, one needs to ensure the following critical considerations are adequately covered by the vendor: -
CASH FLOW COMPUTATIONS for each property provided
HOW A FOREIGNER can get help in this area.
HOW TO OPEN A FOREIGN BANK ACCOUNT
HOW TO SECURE LOAN OPTIONS and to maximize your investment return
INVESTMENT TRULY BUSINESS-LIKE
LITTLE MONEY DOWN for hot properties
LOCAL EXPERTISE with knowledge and information on market developments
LOCAL LEGAL REQUIREMENTS       Reading the FINE PRINT and the HIDDEN CLAUSES
Overseas investment, DO's and DON’Ts?
PROCEDURES FOR WITHDRAWAL OR 'SELL OFF'
PROVEN SYSTEM that will help you grow your investments into the future
EMERGING and SPECIFIC MARKET considerations
TAXATION, CREDIT SCORES, AND LEGALITIES
This is SPECIALLY created just for YOU.
It will be worth your time as you should INVEST in YOURSELF (your knowledge) first before any assets, business or financial instrument investments.

Finally, If you are willing to invest two hours of your time together, I will do the same for you.

Make that call: 9680 4288

   Additional Buyer's Stamp Duty (ABSD) - Singapore 

Medicine "To Cool and "Not to Kill"

Effective on 8 Dec 2011.
Additional Buyer’s Stamp Duty (ABSD) will be imposed over and above the current Buyer’s Stamp Duty, and will apply to the purchase price or market value of the property (whichever is higher) for the following purchases:
a) Foreigners and non-individuals (corporate entities) buying any residential property will pay an ABSD of 10%;
b) Permanent Residents (PRs) owning one and buying the second and subsequent residential property will pay an ABSD of 3%; and
c) Singapore Citizens (Singaporeans) owning two and buying the third and subsequent residential property will pay an ABSD of 3%.

Citizens of 5 countries to pay same stamp duty as Singaporeans:  Iceland, Liechtenstein, Norway, Switzerland, United States Of America,
Reminder: "It is not easy to find a property that really like, Hence, if you discover an unit of your choice, make a decision and with a decent offer. Otherwise, it may be gone sooner than later" - quote from an international property column contributor.

  Private Property Trend 2010-Nov 2011

(source streetsine.com)

(source from Mr Raymond Quah-UD)

 Property investors are scaling back on their purchases. - No matter the number of investors, one thing is clear: it is evident that January’s tough cooling measures – not to mention those previously done in February 2010, August 2010 and September 2009 – are putting a downward pressure on investor demand.

The latest rules include a reduced loans-to-value (LTV) ratio of 60% for buyers with an existing housing loan. The previous ratio was 70%.

As such, a home buyer now has to come up with an upfront figure of 40%.

The Straits Times that the tumbling number of loan holders who have an existing mortgage goes to prove that the lowered LTV ratio in particular “was effective and had an impact”.

Another measure is the raising of stamp duty of up to 16% on sellers if the property is sold within a year of purchase.

The sellers’ stamp duty is payable if a home is sold within four years, where it was previously three.

The result: CBS reported that 50,588 people took out loans from January to August 2011 – a 6% dip from the 53,803 figure in the same period last year.

 Government To Continue To Manage Pace Of Immigration - Expect Changes in Property Prices
 The National Population and Talent Division said it will continue to manage the pace of immigration to ensure immigrants are "assimilable, of good quality and can be well integrated into Singapore society".
Outlining its goals and plans for the next five years in response to the President’s address on Monday, the division said immigration has helped address Singapore’s declining fertility rate and also injected vibrancy into the economy and society.
But it said it will ensure that Singaporeans’ sense of belonging and national identity remain strong.
The division, which comes under the Prime Minister’s Office, said it will work with other government agencies to plan for social and physical infrastructure to match the needs of the population.
It will also continue to promote a pro—family environment as it understands that many Singaporeans still consider getting married, starting a family and having children as important life goals. It will also continue to support Singaporeans in realising these life goals.
The division also said it will continue to engage Singaporeans who are overseas so that they will stay connected to Singapore.
(source channelnewsasia.com October 2011)

  Tenants Beware !!

 Rental Scammer Arrested  - Tenants Are Reminded To Engage Responsible Property Agents
Police have arrested a 53—year—old man who is believed to be involved in at least two cases of rental scams.
He would arrange for his victims the viewing of a flat in Block 178 Ang Mo Kio Avenue 4 and collect deposits and rental advances from them. 
After collecting the money, the suspect would be uncontactable.
(source channelnewsasia.com October 2011) .

 Deadline For Provisional registered Salespersons To Pass RES Examination Extended from 31 December 2011 till 30 June 2012
As at 31 Aug 2011, 2,753 (8.3%) of a total of 33,054 registered salespersons were given provisional registration, but have not passed the RES Examination.
Date Event
01 October 2011 - CEA starts to accept applications for licensing/registration renewal, and to update the list of salespersons continuing registration for Year 2012
15 November 2011 - 5pm - Application will be closed
31 December 2011 - Licence and registration will expire for those who are due for renewal, but have not applied to CEA for renewal
31 March 2012 - Existing estate agents and salespersons to meet the annual 6 CPD hours requirement
Those who do not will have their licence/registration lapsed
30 June 2012 - Provisional registered salespersons who have not passed the RES examination must pass the examination by this date
 Timing: ”I never believe that there is a good time, or a bad time.  I think it’s really a function of yourself. Be it bad time or good time,  I think it’s a matter of how resourceful you are, how courageous you are, how driven you are, to prove yourself ". Quote: Ron Sim - OSIM

  What is the difference between DBSS flats and ECs?  

DBSS flats are sold by private developers under a   99-year lease.
After the sale, they are handed over to HDB/Town Councils for management.
They are HDB flats, subject to the same rules imposed on HDB flats, such as Ethnic Integration Policy (EIP) and MOP.

ECs are sold with strata titles.
Like private condominiums, they are managed by residents who make up the management corporation strata titles (MCST).
The first owners are subject to a 5-year MOP.

ECs are fully privatised after 10 years. (source from HDB website)

   Foreign Talent  And Worker - More Opportunities For Property Agents  
From 800,000 foreign workers to more than 1,000,000 in 2007 in Singapore
In September 2011, Senior Mentor Lee vision that Singapore needs 60,000 foreign workers YEARLY. 
More than 10,000 foreign workers need rooms, flats and condo for rent and buy MONTHLY.
Did you miss anything DAILY?  

  Investors  Make These Deadly Mistakes - Seek Professional Opinion Before Investing  
Mistake # 1. Spending thousands of dollars buying books, tapes and attending seminars and then putting all of that information on a bookshelf and never looking at (or using) it.
Mistake # 2. Failure to learn the basics of   investing.
Mistake # 3. Fear of making a huge financial mistake.
Mistake # 4. Engaging too many opinion about a property. 
Mistake # 5.  "A better deal may be just around the   corner" syndrome 
Mistake # 6.  Thinking that investing is strictly a  complicated game.
 Mistake # 7. Falling in love with a property.
Mistake # 8. Failure to plan your financial goals "The 'time vs. money'" concept.
Mistake # 9. Trying to purchase properties that the seller is not motivated to sell
Mistake # 10. Believing you can get rich quick overnight with no money.
Mistake # 11. No money down investing usually isn't.
Mistake # 12. Not financially analyzing a potential investment property.
In fact there are more than twelve(12) mistakes.
Mistake # 13. You need someone who can provide you with the right contact source, financially and legally.

(Note: These observations may  not be accurate and subject to time and purpose)

 Homesellers' Deadly Mistakes - Engage An Agent To Assist You  
Complacent marketing when selling a home
Forgetting about health and safety issues
Forgetting what you would want to see if you were the buyer of your home
Not knowing how to price your home to sell
Not planning your move earlier enough
Taking for granted the "curb appeal" of your home
Thinking you need to be in the home to explain things to a prospective buyer
Using a "convenient" Realtor rather than using an experienced Realtor
Using a real estate agent instead of a Realtor

It´s critical that you have full confidence in that agent´s experience and commitment.
A responsible and knowledgeable agent should be able to explain to you exactly why your home needs to be priced at a certain level.
Experienced agents also know exactly what the current pool of buyers are looking for in relation to particular styles and price ranges of properties.
A skilled agent can recommend changes that will enhance the value of your home, thus increasing the price - and/or decreasing the length of time before a sale.

  Engage A Realtor With These Believes and Commitment  
Regardless, of the market situation, your property will be sold.
Can and will start immediately on marketing your house.
Co- Broke with other salesperson.
Can consistently arrange clients to view your house.
Report on the marketing response.

  HDB Concessionary Loan Interest Rate Remains Unchanged At 2.6% 

CPF interest rate will remain at 2.5% interest per annum for Ordinary Account (OA) from 1 Oct 2011 to 31 Dec 2011.

Therefore the concessionary interest rate for HDB mortgage loan, which is pegged at 0.1 percentage point above the CPF interest rate for the OA, will remain unchanged at 2.6% per annum from 1 Oct 2011 to 31 Dec 2011.

  HDB Update - HDB Raises Monthly Income Ceiling 
PM Lee Hsien Loong had mentioned in his National Day Rally 2011 Speech that the government will be raising the HDB income ceiling. HDB has confirmed that with effect from 15 Aug 2011, HDB will raise the monthly income ceiling from $8,000 to $10,000 for the following:
a. Purchase of new flats (BTO and DBSS);
b. Purchase of resale flats with CPF Housing Grant;
c. Eligibility for HDB loan to buy new or resale flat.
The monthly income ceiling to purchase new Executive Condominiums (ECs) will also be increased from $10,000 to $12,000. Eligible first-timer households buying ECs will receive a CPF Housing Grant of $30,000 (if income does not exceed $10,000), $20,000 (if income is between $10,001 & $11,000), and $10,000 (if income is between $11,001 & 12,000).

The monthly income ceiling to buy Studio Apartments (SAs) will be increased from $8,000 to $10,000.

The monthly income ceiling for extended family buying new or resale flat with CPF Housing Grant or applying for HDB loan will also be increased from $12,000 to $15,000.

The monthly income ceiling for single citizens buying up to a 5-room resale flat under the Single Singapore Citizen (SSC) Scheme, with a CPF Housing Grant and HDB loan, will be increased from $3,000 to $5,000. The monthly income ceiling for housing subsidies for single citizens buying a resale flat under the Joint Singles Scheme (JSS), and for single citizens who buy a resale flat with their parents will be increased from $8,000 to $10,000. HDB will also increase the CPF Housing Grant for single citizens from $11,000 to $15,000. The Higher-Tier CPF Housing Grant for single citizens who buy a resale flat with their parents will however remain unchanged at $20,000.

The changes will take effect from 15 Aug 2011 (ie. for applications to buy new or resale flats and HDB Loan Eligibility Letter applications received from 15 Aug 2011). For ECs, the changes will be applicable to projects which are launched for public sale from 15 Aug 2011.

In Summary - 15 August 2011

  Revised Monthly Income Ceilings - 15 August 2011 
Direct Purchase New Executive Condo - Income $10,000 (Old); $12,000 (New)
Direct Purchase New BTO/DBSS Flats - Income $8,000 (Old); $10,000 (New)
Direct Purchase New Studio Apartment - Income $8,000 (Old); $10,000 (New)
Resale Flats with CPF Housing Grants - Income $8,000 (Old); $10,000 (New)
HDB Loan to buy New or Resale Flats - Income $8,000 (Old); $10,000 (New)
Extended Family for New/Resale Flat with Grant / HDB Loan - Income $12,000 (Old); $15,000 (New)
Subsidies for Single Singapore Citizen Scheme - Income $3,000 (Old); $5,000 (New)
Subsidies for Joint Singles Scheme - Income $8,000 (Old); $10,000 (New)
Apply for Higher Tier Singles Grant - Income $8,000 (Old); $10,000 (New)

  CPF Housing Grant for Singles - 15 August 2011 
Single Singapore Citizen Scheme - CPF Housing Grant $11,000 (Old); $15,000 (New)
Joint Singles Scheme (Each Single) - CPF Housing Grant $11,000 (Old); $15,000 (New)
Higher Tier Singles Grant - CPF Housing Grant $20,000 (Remains unchanged)

 CPF Housing Grant for EC Buyers - 15 August 2011  
Income not exceed $10,000 - CPF Housing Grant $30,000
Income $10,001 to $11,000 - CPF Housing Grant $20,000
Income $11,001 to $12,000 - CPF Housing Grant $10,000
(source from ww.denniswee.com)

 US Federal Reserve - Zero Interest Remain Till 2012 - quote CNN/Straits Times August 2011

US Federal Reserve pledged to keep interest rates near zero for at least two years till 2012. How will it affects your property?

  Buyers Can Make More Than 10 Mistakes And Pay The Price 

Mistake #1 - Not Updating Finances
Mistake #2 - Making an Offer before Financial Understanding
Mistake #3 - Commit Other Major Purchase And New Home
Mistake #4 - Overlook Social and Family Lifestyle
Mistake #5 - Overlook The Home Inspection Process
Mistake #6 - Making The Lowest Offer
Mistake #7 - Not Firm On Location and Room Type
Mistake #8 - Underestimate The Costs In The New Home Ownership
Mistake #9 - Not Working With An "Exclusive Agent"
Mistake #10 - Service By Many Salesperson

Risk: "Risk comes from not knowing what you're doing" 
Quote: Warren Buffett

  Foreign Property Investment 

Real estate investment should include these critical considerations: -
DO's and DONT's in overseas property investment or purchase?
HOW TO OPEN A FOREIGN BANK ACCOUNT for property purpose.
HOW TO SECURE LOAN OPTIONS and which kind in order to maximize your investment return.
LOCAL expertise to support you up with knowledge and information on market developments
LOCAL LEGAL REQUIREMENTS with complete understanding on sale and purchase procedures
Market considerations including market cycle of the district.
PROCEDURES FOR WITHDRAWAL OF Y OUR RENTAL INCOME and minimisation on forex exposures
TAXATION, CREDIT SCORES, AND OTHER PERTINENT LEGALITIES and right connections

  Measures to Safeguard Conveyancing Money 
The Ministry of Law (MinLaw) will be implementing new measures on 01 August 2011 to further protect conveyancing money without unduly compromising the efficiency of the conveyancing practice.

In arriving at this set of proposed measures, the Ministry of Law has consulted the public and the industry extensively through two rounds of public consultations in August 2009 and January 2010, as well as numerous dialogue sessions with lawyers and other stakeholders.

In addition, the Ministry has incorporated feedback received two pilot trials, involving almost 700 conveyancing transactions from more than 100 law firms.

FAQs and Hotline (68381-CVY)

Singapore Law Society Condition Of Sale 2012

The public may also call the automated conveyancing hotline at 6838 1289.

 Prices Are Higher At These MRT Stations?

The Land Transport Authority (LTA) has announced the final names for the Downtown Line 3 (DTL3) stations on 19 August 2011.
The final names of the 13 stations are:
1. Fort Canning
2. Bencoolen
3. Jalan Besar
4. Bendemeer
5. Geylang Bahru
6. Mattar
7. Ubi
8. Kaki Bukit
9. Bedok North
10. Bedok Reservoir
11. Tampines West
12. Tampines East
13. Upper Changi
The 21-kilometre underground Downtown Line 3 rail system comprising 16 stations, will start at Fort Canning station and serve residents along the MacPherson, Bedok Reservoir and Kaki Bukit areas, before ending at the Expo station.
The three interchange stations at MacPherson, Tampines and Expo, will also connect commuters to the Circle Line and East-West Line.

(source not verified and may not be updated) 

 Agent MUST Know These Statistics

Residential and Commercial Units In Singapore
Condominium / Apartment projects - 2,000

Landed property owners - 72,000
Condominium / Apartment owners - 144,000
Commercial/Industrial owners - 31,000

Sentosa Condo/Landed:
Apartment/Condo Project Count : 10
Landed Residential Project Count : 16

Cluster House:
Project Count : 87

Apartment/Condo New Launches
TOP Date : 2012 Project Count : 38
TOP Date : 2013 Project Count : 68
TOP Date : 2014 Project Count : 50
TOP Date : 2015 Project Count : 37

Landed Residential New Launches  TOP Date : 2012 Project Count : 2
 TOP Date : 2013 Project Count : 2

Executive Condominium(EC)
Project Count : 22

Have we overlooked the existing HDB units strategic information and HDB transaction and additional 53,000k BTOs and
ShoeBox (Smaller Than 50SQM Units)

Enbloc Potential/On-going/Tendering:
Project Count : 150

Plot Ratio and Enbloc Potential Projects are interconnected.

 Do you know how and where to retrieve these info?

Do you know how to find out the number of Condo, HDB and Apartment units are sold each year and in which district?

Integrated Land Information Services-INLIS

Property Ownership Title Information Search
Property Address
Building / Development Name
Postal Code
Land Lot Number
Multiple Land Lot Numbers
Strata Lot Number
Multiple Strata Lot Numbers
Title Document Number
Registered Lease Number
Subsidiary Strata Certificate of Title Document Numbers in range

Catherine PANG -Div Dir
CEA Registration: R017886E  Cert-in-CEHA
+65 9680 4288

 About Singapore
One of the 20 smallest countries in the world with one main island and 63 other smaller islands.
The total land area is approximately 710 square kilometres which is about an hour drive from east to the west of Singapore.
The nation has almost 4.3 million living in the city and total population of 5.2 million people.
As it lies slightly more than one degree north of the equator, there are no seasons and it is hot and wet year round with an average temperature of 27 to 32 degrees C with an altitude of one meter(3ft).
The tallest point in Singapore is Bukit Timah - District 21, which at 161 metres high is shorter than the tallest buildings in the country.
Singapore is the second most densely populated country in the world. The nation proud herself with about 90% of its population in Housing Development Board (HDB) high-rise public housing flats in 20 new towns spread across the island.
A significant number of high-rise high nett-worth private condominium housing developments are located close to the commercial downtown in southern Singapore and along the East Coast.
Singapore's tallest buildings are located in Southern Singapore where the historical heart of the city is located.
As one of the world's largest commercial centres, significant clusters of high-rise commercial buildings may be found in Raffles Place, Shenton Way,Tanjong Pagar and Marina Square.
Singapore's new recreation and commercial downtown is being developed around the Marina Bay and Sentosa island.
Due to air traffic control restrictions, however, no building in Singapore is allowed to exceed 280 metres in height, although this restriction may be relaxed for selected buildings in the Marina Bay district.  The road traffic management is regulated by an unique Electronic Road Pricing system (ERP) throughout some of the business day.
It is also home to the world's current tallest Observation Ferris Wheel - can you guess what is the height?

(source Straits Times Sep 2011)

How Much Do You Know About HDB?
HDB was set up on 01 February 1960, during a housing crisis. At that time, many were living in unhygienic slums and crowded squatter settlements. Only 9 percent of Singaporeans lived in government flats.

By 1965, it had built 54,000 flats and within 10 years of its formation, had the housing problem licked. Today, about 84 percent of Singaporeans live in HDB flats. 

In 1980,  the first prefabrication contract was awarded to build 3- and 4-room flats in Hougang, Tampines and Yishun.

In 1981, the Home Protection Scheme was implemented by the CPF Board to ensure that dependants of HDB flat owners would not lose their homes because of a default in loan repayments, in the event of death or permanent incapacity of the sole breadwinner. 

In 1991, HDB introduced the Design and Build Scheme and the first flats built under this scheme were 620 units in Tampines Street 45.

 In 2005, HDB launched the Design, Build and Sell Scheme, allowing the private sector to design, build and sell HDB flats.   The result is The Premiere @ Tampines - its first condo style flats. They came with glass-panelled private balconies. 

In 2007, HDB launched its eco-precinct with green features such as solar-powered corridor lighting and common areas that will be cleaned using recycled rainwater as well as vertical greening, where plants are grown on the highest floor. The flats will be ready by 2010.   

In 2009, HDB's first 50 storey development Pinnacle @ Duxton was completed. It consists of skybridges on the 26th and 50th storey. The blocks are designed in a hook shape, so no resident looks into his neighbours' flats.
The First Waterfront Public Housing Project is in Ponggol in line with the 4.2km Punggol Waterway. Its unique design are its blocks of flats that will "step down" towards the water like terrace and have soar panels on their rooftops to supply power to common areas.

 In 2010, HDB achieved 1.0 million flat units.

By 2015, The SkyTerrace @ Dawson and Skyville @ Dawson will be completed and these two towers of flats is more than 40 storey. (source from HDB website)

Action: The way you do something can be more important than what you say (unknown author)

 HDB: 1.0 million HDB units by Estate
Ang Mo Kio 48,068   Bedok 59,201   Bishan 19,367   Bukit Batok 31,731   Bukit Merah 50,247   Bukit Panjang 29,498   Choa Chu Kang 39,511   Clementi 23,871   Geylang 30,510  Hougang 47,819   Jurong East 22,299   Jurong West 68,760   Kallang/Whampoa 34,288   Pasir Ris 27,514    Punggol 17,980  Queenstown 29,812   Sembawang 18,421  Sengkang 43,848   Serangoon 21,292  Tampines 62,369  Toa Payoh 35,418  Woodlands 58,525  Yishun 46,965  Other Estates 22,898

Application: Learn to complete. Focus on finishing Quote Eric Lee - Entrepreneur 

  Map Of Singapore 

 District/Private Property

(source from Straits Times Classified)

 NRIC number/FIN - A 7 digit serial number
The National Registration Act of 1965 (last amendment in 2001) legislates the issuance and usage of NRICs.
Type and designThe NRIC comes in two main colour schemes, namely pink for citizens and blue for permanent residents (PR).
Until 29 September 2002, the NRIC indicated its holder's blood group. This information was subsequently removed due to the widespread availability of quick blood group tests that are conducted during medical emergencies.
Since 2008, Singapore started issuing a card, termed a "Visit Pass", similar in design with the NRIC to long-term pass holders (such as foreigners studying or working in Singapore), replacing the formerly issued laminated green cards.
The Visit Pass is green in colour, uses the term "Foreign Identification Number" (FIN) instead of the NRIC number, as well as showing the nationality of the pass holder. The card includes a date of expiry, conditional on the card holder holding a valid passport.
This is a letter that can be "S", "F", "T" or "G" depending on the status of the holder.
For Singapore citizens and permanent residents, this is the century prefix.
The NRIC number for citizens and permanent residents born before the year 2000 is assigned the letter "S".
"S" is the 19th letter in the English alphabet, denoting that the person was born in the 20th century (1900-1999).
It was commonly believed before 2000 that the "S" stands for Singapore, especially since the letter "F" was used for foreigners.
It is unknown, however, if that was ever the intended meaning.
Singapore citizens and permanent residents born in 2000 and beyond are assigned the letter "T".
"T" is the 20th letter in the English alphabet, denoting the person was born in the 21st century (2000-2099).
Foreigners holding employment or student passes issued before 2000 are assigned the letter "F".
Foreigners holding employment or student passes issued in and after 2000 are assigned the letter "G".
For Singapore citizens and permanent residents born in 1968 and after, their NRIC number will start with their year of birth e.g. 71xxxxx#.
For those born in 1967 and earlier, the NRIC number does not relate to year of birth, and commonly begins with 0 or 1.
Non-native Singaporeans who were born before 1965 are assigned the heading numbers 2 or 3 upon conversion of permanent residency (PR) or citizenship.

  MRT System  MRT 2050 

History of MRT

The 1960s was an era of great economic changes for Singapore.
As a result, feasibility studies were carried out between 1972 and 1980 and the rail system was to operate through the most densely- populated areas and the conception of the east-west and north-south lines.
In May 1982, the Government gave the go-ahead and work on the construction of the MRT began.
The S$5 billion project was targeted to be completed in 1992.
The 67 km-long route would boast 42 stations, of which 27 would be above ground and 15 under ground.
Then Prime Minister, Mr Lee Kuan Yew¸ officiated the launching of the system on 12 March 1988.
In February 1991, the Government announced its decision to extend the MRT system to Woodlands. Work on this 16-km extension was completed on 10 February 1996.

‎'If you always tell the truth, you do not have to remember anything' - Mark Twain

(sources not verified and may not be updated)

  Postal Codes Story
Singapore was originally divided into 28 postal districts in 1950, with a number being allocated to each district, for example, the Orchard Road area was in District 9. eg: 277 Orchard Road, Singapore 9

This was superseded by a new four-digit system in 1979, with the last two digits representing a sector in each district. There were in total 81 sectors. eg: 277 Orchard Road, Singapore 0923

On 1 September 1995, this was replaced by a six-digit system, in which every building was given its unique postcode, the first two digits of which represented the old sector, i.e. 23. eg: 277 Orchard Road, Singapore 238858

Although the old districts are no longer used by Singapore Post, they are still widely used to refer to locations of properties for sale or rent.

The 6-digit postal code is made up of the sector code and the delivery point. The sector is represented by the first two numbers of the postal code. The remaining four numbers define the delivery point within the sector. e.g. 56 Tanglin Road, Singapore 247964
24 is the sector code; 7964 is the delivery point, i.e. house or building.

For Housing & Development Board (HDB) residential blocks, the block number is included in the postal code. e.g.Blk 335 Smith Street, Singapore 050335
HDB residential blocks with the same number in the same postal sector are differentiated by their postal codes as follows: e.g.
Blk 110 Simei Street 1,Singapore 520110 and Blk 110 Tampines Street 11, Singapore 521110

The postal codes for private residential, commercial and industrial houses and buildings are assigned based on the alphabetical sequence of the street names in each sector.
This means that the codes for a particular postal sector have been assigned first to houses and buildings located along street names beginning with 'A, followed by 'B' and so on.
The postal codes for such properties do not contain the corresponding house or building numbers included in the postal code.
HDB industrial and commercial blocks also use this system.

Postal District Postal Sector lists the different postal districts: (1st 2 digits of 6-digit postal codes) General Location
01 - 01, 02, 03, 04, 05, 06 Raffles Place, Cecil, Marina, People's Park  
02 - 07, 08 Anson, Tanjong Pagar  
03 -14, 15, 16 Queenstown, Tiong Bahru
04 - 09, 10 Telok Blangah, Harbourfront
05 -11, 12, 13 Pasir Panjang, Hong Leong Garden, Clementi New Town
06 -17 High Street, Beach Road (part)
07 -18, 19 Middle Road, Golden Mile
08 - 20, 21 Little India  
09 -22, 23 Orchard, Cairnhill, River Valley
10 -24, 25, 26, 27 Ardmore, Bukit Timah, Holland Road, Tanglin
11- 28, 29, 30 Watten Estate, Novena, Thomson
12 - 31, 32, 33 Balestier, Toa Payoh, Serangoon
13 -34, 35, 36, 37 Macpherson, Braddell
14 - 38, 39, 40, 41 Geylang, Eunos  
15 - 42, 43, 44, 45 Katong, Joo Chiat, Amber Road  
16 - 46, 47, 48 Bedok, Upper East Coast, Eastwood, Kew Drive
17 - 49, 50, Loyang, Changi
18 - 51, 52 Tampines, Pasir Ris  
19 - 53, 54, 55, Serangoon Garden, Hougang, Ponggol  
20 - 56, 57 Bishan, Ang Mo Kio
21 - 58, 59 Upper Bukit Timah, Clementi Park, Ulu Pandan
22 - 60, 61, 62, 63, 64 Jurong
23 - 65, 66, 67, 68 Hillview, Dairy Farm, Bukit Panjang, Choa Chu Kang
24 - 69, 70, 71 Lim Chu Kang, Tengah
25 - 72, 73 Kranji, Woodgrove, Woodlands
26 - 77, 78 Upper Thomson, Springleaf
27 -75, 76 Yishun, Sembawang
28 -79, 80, 81 Seletar

 Tallest 25 Commercial Building in Singapore

01. Republic Plaza - 280 m 1996
02. UOB Plaza One - 280 m 1992
03. OUB Centre - 280 m 1988
04. Capital Tower - 253 m 2000
05. One Raffles Quay North - 245 m 2006
06. Marina Bay Tower - 245 m 2008
07. Marina Bay Financial C - 245 m 2011
08. 8 Shenton Way - 235 m 1986
09. Swissôtel The Stamfor - 226 m 1986
10. Millenia Tower - 223 m 1996
11. The Orchard Residences - 218 m 2010
12. Central Park Tower - 215 m 2008
13. DBS Building Tower One - 201 m 1975
14. OCBC Centre - 198 m 1976
15. Singapore Land Tower - 190 m 1980
16. International Plaza - 189 m 1976
17. SGX Centre Two - 187 m 2001
18. SGX Centre One - 187 m 2000
19. PSA Building - 183 m 1986
20. Suntec City Tower 1 - 181 m 1997
21. Suntec City Tower 2 - 181 m 1997
22. Suntec City Tower 3 - 181 m 1997
23. Suntec City Tower 4 - 181 m 1997
24. The Concourse - 180 m 1994
25. Hitachi Tower - 179 m 1992

 Estimated $22 Billion Property Business

Singapore's construction demand is   between $22 billion and $28 billion for 2011 (The Straits Times, January 12, 2011).

What are the opportunities available and how can companies capture value to map the blueprint for growth?

With the cooling property measures in place, IRs in action, impending increase in foreign workers' levy, uncertain middle east and global economic outlook, how should you minimise your risks as you plan for the future?In land scare Singapore, these are existing units and more projects in progress.

Regardless if you are an agent, buyer, seller or investor, these general information is helpful. Importantly, know where to find these strategic information.

URA Property Price Index 2nd Qtr 2011  (source www.ura.gov.sg)

Direction: One step in the right direction is better than 99 years of thinking  Quote: Eric Lee

 Enhanced Resale Checklist Effective 01 NOV 2010

In 2008, HDB Resale Checklist was introduced to ensure that HDB flat sellers and buyers are aware of the key resale and financial policies before they commit to  sell or buy a resale flat.

As part of its regular reviews, HDB has enhanced the Resale Checklist and the checklist submission  procedures to better protect the interests of sellers and buyers and help them make informed and prudent decisions.

From 01 Nov 2010, HDB Enhanced Resale Checklist will be implemented and the key changes are as follow:

a) Sellers of HDB flats, acting with or without agents, will have to observe a 7-day cooling-off period after they complete the Resale Checklist, before they can grant an Option-to-Purchase (OTP) to  the buyers.

HDB will create a new Resale Checklist repository in its InfoWEB ( www.hdb.gov.sg). After completing  the checklist, sellers are required to deposit the checklist in the repository by the next day.

b) Flat sellers buying another HDB flat will need to work out the estimated sale proceeds of their current flat  and a financial plan for the purchase of the next flat.

c) Buyers of resale flats, acting with or without agents will also be required to complete and submit the Resale Checklist. (source from HDB website)

 1st Measures to Ensure A Stable And Sustainable Property Market
20 February 2010
The  Government announced today the following measures to ensure a stable and sustainable property market:

Introducing a Seller's Stamp Duty (SSD) on all residential properties and residential lands that are bought after today and sold within 1 year from the date of purchase1; and
Lowering the Loan-to-Value (LTV) limit to 80% for all housing loans provided by financial institutions regulated by the Monetary Authority of Singapore (MAS)

 2nd Measures to Ensure A Stable And Sustainable Property Market

05 Mar 2010
Lifting of Upgrading Condition  
Currently, only households that are upgrading to a bigger flat type are eligible to apply for a second concessionary loan from HDB. This may have inadvertently encouraged some to upgrade even though it may not be prudent for them to do so.

HDB will remove the   condition that a buyer must upgrade to qualify for a second concessionary loan. This means that the second concessionary loan will be made available to all eligible households regardless whether they upgrade, downsize or move to the same flat type. This will benefit families that need to right-size to  smaller flats but do not have sufficient proceeds from the sale of their existing flats. However, HDB flat buyers who have disposed of their private properties will remain ineligible for a second concessionary loan.

Right-sizing the Quantum for the Second Concessionary HDB Loan
To further encourage financial prudence, HDB will reduce the quantum of the second concessionary loan by the full CPF proceeds and part of the cash proceeds from the sale of the existing or immediate past HDB flats. Flat buyers can keep the  greater of $25,000 or half of the cash proceeds (including the cash deposit received). HDB will take into account the remaining part of the cash proceeds when determining the quantum of the second loan to be granted.

For those who buy the next flat after selling the existing one, they will have to use up to 50% cash proceeds from the sale of the immediate past HDB flat and all of the CPF balance to finance the purchase of the next flat. This will apply   regardless of  when the previous HDB flat was sold.

For those who buy their next flat before selling the existing one, the proceeds from the sale of their existing flat would not have been realised when they first apply for an HDB loan. To help them buy a flat,  HDB will first grant them a bigger loan at commercial interest rates The commercial interest rates are pegged to the 3-month average non-promotional interest rate for HDB flats offered by the 3 local banks. After the sale of their existing flat, they will have to redeem this loan with the full CPF refund from sale of the existing flat and part of the cash proceeds. Upon redemption, the loan will be converted to a concessionary rate loan.

 Response:  "In the 21 Century, small is beautiful because it is not about how much equipment you have, it is about how quickly you can change yourself to meet the market " Quote: Alibaba Group Founder,Jack Ma

 3rd Measures to Ensure A Stable And Sustainable Property Market

30 August 2010 :
1. Extending Sellers Stamp Duty (SSD) on Residential Properties Sold from 1 Year to 3 Years:-
Previously, sellers who buy residential properties on or after 20 Feb 2010 and sell them within a year of purchase have to pay a SSD. For residential properties bought on or after 30 Aug 2010, SSD will be imposed if these properties are sold within 3 years of purchase as follows:
a. Sold within the 1st year of purchase (property is held for 1 year or less) – The full SSD rate will be imposed.
b. Sold within the 2nd year of purchase (property is held for more than 1 year and up to 2 years) – 2/3 of the full SSD rate.
c. Sold within the 3rd year of purchase (property is held for more than 2 years and up to 3 years – 1/3 of the full SSD rate.
No SSD will be payable by the vendor if the property is sold more than 3 years after it was bought. The SSD will not affect HDB lessees as the required Minimum Occupation Period for HDB flats is at least 3 years.

2. Increasing Cash Payment from 5% to 10% for Purchasers with one or more outstanding Housing Loans:-
Previously, property buyers have to make cash payment of at least 5% of the valuation. With effect from 30 Aug 2010, the cash payment is increased from 5% to 10% of the valuation. This applies only to buyers of private residential properties, ECs, HUDC and HDB flats (including DBSS flats) who are taking housing loans from financial institutions and who already have one or more outstanding housing loans at the time of applying for a housing loan for the new property purchase. Buyers of private residential properties, ECs, HUDC and HDB flats (including DBSS flats) who do not have any outstanding housing loans can continue to make cash payment of 5% of the valuation.

3. Decrease Housing Loan Limit from the current 80% to 70% for Purchasers with one or more outstanding Housing Loans:-
The housing loan limit is lowered from 80% to 70% with effect from 30 Aug 2010 for borrowers who have one or more outstanding housing loans (whether from HDB or a financial institution) at the time of applying for a housing loan for the new property purchase. These rules apply to housing loans granted by financial institutions for private residential properties, ECs, HUDC and HDB flats (including DBSS flats). Borrowers who do not have any outstanding housing loans continue to have a cap of 80%. Loans granted by HDB for HDB flats (including DBSS flats) will still have a cap of 90% and are not affected by this new measure.

4. Increase the supply of new flats, Design, Build and Sell Scheme (DBSS) flats and Executive Condominiums (EC):-
HDB will ramp up the supply of new flats, DBSS flats and ECs substantially to meet the housing needs of first-time homebuyers. HDB will be offering more than 16,000 new flats in 2010. If demand remains strong, HDB is prepared to launch up to 22,000 new flats in 2011. These numbers are substantial. Over two years, HDB will offer more new flats than the total flats in Toa Payoh town today (35,400 flats).   In addition, HDB will release more land for tender in 2010 to yield an estimated supply of 3,000 DBSS flats and 4,000 ECs. In 2011, HDB will release land sites for another 4,000 DBSS flats and 4,000 ECs, if demand is sustained. This injection of 7,000 DBSS flats and 8,000 ECs over two years is also significant. In comparison, 4,000 DBSS flats and 10,000 ECs have been launched for public sale so far.
5. Shorten the completion time of Build-to-Order (BTO) flats:-
To help households get their new flats faster, HDB has also streamlined the BTO processes to allow flat buyers to collect the keys to their new homes 6 months earlier. Buyers of projects launched in mid-2011 onwards will generally need to wait for 2.5 years to collect the keys instead of the current 3 years.
6. Allow households earning between $8,000 and $10,000 to buy new DBSS flats with a $30,000 CPF Housing Grant:-
Currently, first-timer households with monthly income of between $8,000 and $10,000 may buy an EC with a CPF Housing Grant of $30,000. To widen their housing options, HDB will allow these households to buy new DBSS flats with a CPF Housing Grant of $30,000. Similar to the purchase of ECs, the HDB concessionary loan will not be available for these buyers. This revision will be applicable to DBSS projects launched for public sale after 30 Aug 2010.
7. Increase the Minimum Occupation Period (MOP) of non-subsidised flats to 5 years:-
HDB flats are meant for long-term owner-occupation. HDB will increase the Minimum Occupation Period (MOP) to reinforce this and dampen demand from those who are not in urgent need of housing. From 30 Aug 2010, the MOP of non-subsidised flats (resale flats bought without CPF Housing Grant) for resale and subletting of flat will be increased from 3 years to 5 years.
8. Disallow concurrent ownership of both HDB flats and private residential properties within the MOP:-
Buyers of non-subsidised flats will be disallowed from concurrently owning both an HDB flat and a private residential property within the MOP. Currently, buyers of subsidised HDB flats are not allowed to own a private residential property within the  5-year MOP. On the other hand, buyers of    non-subsidised  flats can concurrently own a private residential property during the MOP, as long as they live in the HDB flat. Private property owners can also buy non-subsidised flats while concurrently owning their private residential properties, provided they live in the HDB flat during MOP.  There is therefore disparity in treatment amongst the different groups during their  MOP.
From 30 Aug 2010, private property owners who buy a non-subsidised HDB flat must now dispose of their private residential property within six months from the date of flat
purchase. This will help ensure that buyers purchase HDB flats only when they have the intent of staying in it for long term and ensure equitable treatment for all HDB flat lessees during their MOP. Ownership of private properties by HDB lessees will be allowed after the MOP.
The new government property measures will apply to transactions where the date on which the option to purchase (OTP) was granted falls on or after 30 Aug 2010, whilst the new HDB revised policies will apply to resale transactions where applications are received by HDB from  30 Aug 2010 onwards. 

Reading: Many only learns in two ways, one by reading, and the other by association with smarter people (unknown author)

 4th Measures to Ensure A Stable And Sustainable Property Market

14 Jan 2011- Increase the holding period for imposition of Seller’s Stamp Duty (SSD) from the current three years to four years;
Raise the  SSD rates to 16%, 12%, 8% and 4% of consideration for residential properties which are bought on or after 14 January 2011, and are sold in the first, second, third and fourth year of purchase respectively;

Lower the Loan-To-Value (LTV) limit to 50% on housing loans granted by financial institutions regulated by MAS for property purchasers who are not individuals1; and

Lower the LTV  limit on housing loans granted by financial institutions regulated by MAS from 70% to 60% for property purchasers who are individuals with one or more  outstanding housing loans2 at the time of the new     housing purchase.

  Relocating To Singapore 

From 01 Oct 2010, applicants with entrepreneurial experience and business track record must have a turnover of $30 million annually.

Do you know that from 01 Jan 2011, minimum investment sum will be $2.5 million. As an investor, what does that mean to you?

In addition, money spent on residential property will no longer be considered part of the applicant's investments.

Have you been updated of the Financial Investor Scheme (FIS) ? If you plan to live and work in Singapore, call us to assist you. Requirement: $20M nett personal asset, 5 years investment option $10M with $8M as financial assets and $2M in property. No residency requirement. (source from Straits Times article)

Parents and Parents-in-law are no longer eligible to be included in the candidate's  Global Investor Program (GIP) application for PR status. Requirement: $2.5M, have business track record, invest in business or in fund. No residency requirement

They can instead apply for five years Long Term Visit Pass subject to renewal and tied to the applicant's re-entry permit effective October 01 2010. Requirement: above 45 years old, have a property in Singapore above $500k, Bank deposit proof of minimum $400k, valid medical insurance, can apply for  domestic helper. No residency requirement.

(Note: information may not be updated and subject to professional verification and policy changes)

 CPF: Retirement Account at 55 years old

Q: How much can I withdraw from my CPF Account when I reach 55?
*The Retirement Account is created when a member reaches 55.
**The CPF Minimum Sum applicable for members turning 55 between 1 July 2011 and 30 June 2012 is $131,000. The Board will announce the CPF Minimum Sum figure (adjusted for inflation) in June each year.
From 1 January 2011, members who reach 55 can only withdraw 20% of their cash balances, and the remaining balances, if any, after they have set aside the CPF Minimum Sum (MS) in their Retirement Account. If they have the full MS but have less than the Medisave Required Amount (MRA), they are required to make a top-up to their Medisave Account with part of the balances from their Ordinary and/or Special Accounts to meet the prevailing MRA. This percentage of withdrawal will go down by 10 percentage points each year until 2013.
From 1 January 2013, members who reach 55 can withdraw their cash balances only after setting aside the CPF Minimum Sum and Medisave Minimum Sum. However, members can still withdraw the first $5,000 from the CPF account at 55. (source form www.cpf.gov.sg)

 CPF: HDB Concessionary Loan

Q: If I qualify for HDB concessionary loan, how much of my CPF savings can I withdraw?
A: FOR A FLAT FROM HDB
You can use up to 100% of your CPF Ordinary Account savings to pay the initial 10% deposit as well as the balance of the purchase price.
If your existing CPF balance is not enough for full payment of the purchase price, you may take up a housing loan from HDB and use all the monthly contributions to your Ordinary Account for the instalment payment of the loan.

FOR A RESALE FLAT BOUGHT IN THE OPEN MARKET
You may use all the CPF savings in your Ordinary Account plus the housing loan from HDB to pay up to the Valuation Limit (VL). The VL refers to the market value of the flat at the time of purchase or the purchase price, whichever is lower.
HDB may grant you a loan of up to 90% of the VL. The HDB loan is subject to credit assessment by HDB. Also, HDB requires you to exhaust all your CPF Ordinary Account savings.
(source from www.cpf.gov.sg)

 CPF - Refinance & Proceeds
 What are the important factors that CPF members should be aware of when using CPF to repay housing loans?
In addition to the CPF housing withdrawal limits which define the amount of CPF that can be used for housing, members should also be aware of factors like the CPF Minimum Sum requirements when they reach 55 years old, the effect of changes in housing loan interest rates, reductions in the amount of contributions to the Ordinary Account as they get older, etc. 

If I have paid-up my housing loan and I sell my property after 55, must I refund any sales proceeds to my CPF Account?

It depends on whether you have pledged your property under the Minimum Sum Scheme instead of setting aside the Minimum Sum in cash when you reached 55.

If you have done so, you will be required to refund the amount that was pledged, plus accrued interest to your CPF Retirement Account when you sell your property.

No refunds to your CPF account are required if you did not pledge your property under the Minimum Sum Scheme.

What if I sell my property before reaching 55, and have not fully paid-up the housing loan?

Generally, when you sell your property, you’d need to refund the CPF savings you had earlier withdrawn for the purchase of the property. This includes the interest you would have earned, had the savings remained in your CPF account

It’s a straightforward matter when the sales proceeds are enough to pay the remaining loan to HDB or the lending bank, as well as making a full refund of your CPF savings.

 What happens when a property is owned by two or more persons, and one person passes away? What’s the difference between “joint tenancy” and “tenancy-in-common”?

The law provides for two forms of ownership: “joint tenancy” and “tenancy-in-common”. The form of ownership is stated on the title document for the property.

  What is negative equity, and how does it affect a home buyer?

Generally, a home is said to be in “negative equity” when its market price is less than its outstanding loan.

Banks say that as long as customers pay the monthly instalments on time, they won’t ask them to top-up the difference between the market price and the outstanding loan.

However, if payment isn’t made for a few months, and the customer is unable to work out a payment plan with the bank, the bank may get a court order to do a “forced sale” to recover the outstanding loan and unpaid interest.

While it’s less common for HDB flats to be in negative equity, it’s possible for resale flat buyers to find themselves in such a situation, especially if they had bought the flat when prices were at a relatively high level.

There are many housing loan packages offered by banks. How do I know which is best for me?

There’s no simple answer because much would depend on a person’s financial situation.
However, you may want to consider these pointers when you shop for a housing loan:

Loan duration: Check the maximum loan duration or term that you can get. Some banks also set a maximum age limit, which would limit the loan duration. However, you shouldn’t decide on the maximum duration without careful thinking. The longer the duration, the more interest charges you’d be paying!

Monthly instalment: Ask the banks to show the instalment amounts using different interest rates, including interest rates that are higher than those quoted in the loan packages. This lets you assess whether you’d be comfortable if interest rates were to fluctuate.

Interest rates: Typically, banks offer fixed interest rates for the first 2 -3 years of a loan, with variable interest rates for the remaining years. If you prefer to be certain about your monthly instalment amount, then look for packages which offer a longer fixed rate period. See if the bank is able to provide you with the average interest rate figure over the entire loan period.

Initial lock-in period: Some banks impose a penalty if customers leave in the initial years of the loan. This refers to the customer paying off the old loan, perhaps by refinancing using a new loan with another bank. The penalty could be about 0.5 to 1.5 per cent of the existing loan amount.

Fees: See if the banks charge a loan processing fee, pre-payment fee, or third-party fee such as legal fee, valuation fee and fire insurance premium.

What is refinancing, and why do people refinance their housing loans?

Refinancing means getting a new housing loan to pay off the current loan. This is usually done because people believe they’d pay less interest on the new loan.
A lower interest rate will decrease your monthly instalment. But you may have to stay with the new loan for some time before the lower payments will offset the costs of refinancing.

If you’re thinking of refinancing, ask the bank to show you why their loan package is better than your existing loan. You should also check on any lock-in period that might come with refinancing, the legal fees, and other refinancing costs.

If you have a HDB concessionary loan and are thinking about refinancing to get a market-rate loan with a bank, do remember that banks may or may not be as flexible as the HDB in not repossessing properties when loans default.

 What is “cash-back”, and is it allowed?

“Cash-back” arrangements occur when the buyers, sellers and housing agents collude to inflate the declared purchase price so as to enable the buyers to take a higher housing loan and/or to withdraw more CPF savings. These arrangements are supported by valuation reports, which are also on the high side.

Such "cash-back" arrangements are illegal. They are also not financially prudent for the buyer. The buyers’ retirement savings are eroded by the withdrawal of more CPF monies than is needed for the actual purchase. Buyers also expose themselves to greater financial risks by taking on bigger mortgage loans, which will result in more interest being incurred. Moreover, they will have to pay higher stamp/legal fees which are computed based on the declared resale price.
Sellers are also liable for a higher resale levy based on the declared resale price if they subsequently purchase another subsidized flat directly from HDB.

Parties involved in “cash-back” arrangements can be prosecuted for cheating or false declarations.

To curb cash-back arrangements, all members using their CPF savings for the purchase of HDB resale flats financed with a bank loan and/or servicing of the loan will require a valuation report from a private valuer assigned by HDB from 1 April 2005. This requirement will also apply to transferees who are taking bank loans to effect transfer of ownership of an existing HDB flat at market valuation.

 Valuation Limit (VL) / Available Housing Withdrawal Limit(AHWL)  The VL is the power of either the purchase price, or the valuation of the property.
Available Housing Withdrawal Limit (AHWL)
The amount available for withdrawal to pay for property purchase after the Minimum Sum as of 01 July 2011$131,000 has been met is known as AHWL. This will be capped at 120% of VL

 LTV (Loan to Value)
LTV refers to the maximum amount a bank will lend for the financing of a property purchase. Hence, for a S$1 million property, a LTV of 80% means that the bank will lend a maximum of S$800,000. A series of cooling measures introduced by the local authorities to discourage speculation have lowered the LTV for second mortgages to 60% from 70% previously.

 Bridging Loan and Conditions   Aggregate amount of housing loan, bank loan and CPF lump sum must be less than100% of current market value whichever is lower.
The bridging loan must be disbursed before the housing loan or at the same time as the housing loan.
If must be fully settled within six (6) months from date of first disbursement
Monthly interest servicing by cash and lump sum payment at the end of tenure.
Documents needed: OTP, exercise S&P agreement, HDB approval Letter for sale/first appointment letter

 Checklist Before Buying  Maximum loan permissible, Downpayment, COV, Stamp Duties, Legal and Miscellenous Fee,  Agent's Service Fee,  Renovation Upkeep Fee.
Bank's Expectation For Sales And Purchase  
Price: The price agreed between the purchaser and the vendor for property and land. It excludes stamp duties, agency service fees, legal and other professional fees.
The sale and purchase is governed by:
The Law Society Condition Of Sale 1999

The following documents are required when applying for a new property loan.

New Purchase: 1. Application form
2. NRIC front and back of all mortgagors and borrowers
3. Income documents. Employee (same company for more than 2 years, in non sales position): 1 year  notice of tax assessment Employee (same company for less than 2 years): 3 months electronic salary slip and CPF contribution history. Self-employed or sales staff: 2 years notice of tax assessment
4. Option to purchase
5. *NEW Declaration form (to declare that you are not arranging for loan for multiple properties
6. *NEW Printout from HDB website www.hdb.gov.sg
a. Access with Singpass
b. Click on "My Flat"
 
If you own a HDB flat: Go to "Financial information" and printout the page.
If you do not own a HDB flat, go to "Flat details" and print out the page that says   "You do not own an existing HDB flat."
If customer requires 80% loan and has sold off existing private property, the bank will require additional information.

         Refinancing:  1. Application form
2. NRIC front and back of all mortgagors and borrowers
3. Income documents. Employee (same company for more than 2 years, in non sales position):  1 year notice of tax assessment. Employee (same company for less than 2 years): 3 months electronic salary slip and CPF contribution history. Self-employed or sales staff: 2 years notice of tax assessment
4. Latest loan statement.
5. CPF My property statement (detailed), showing detailed usage of CPF funds for the property. If customer require top-up term loan facilities, they're required to submit
a. *NEW Declaration form (to declare that you are not arranging for loan for multiple properties
b. *NEW Printout from HDB website www.hdb.gov.sg
c. Access with Singpass
d. Click on "My Flat"

If you own a HDB flat: Go to "Financial information" and printout the page.
If you do not own a HDB flat, go to "Flat details" and print out the page that says "You do not own an existing HDB flat."   

All parties are advised to check with their respective professionals agencies before any decision.

  Singapore Limited Liability Partnerships (LLP)    A Limited Liability Partnership (LLP) is a perfect blend of a partnership with private limited company setup. A LLP gives owners the flexibility of operating as a partnership while having a separate legal identity like a private limited company. This type is highly suitable for individuals engaged in professional services such as lawyers, architects, accountants and management consultants. Singapore citizens, residents, and employment pass holders can register a LLP.
Features
It has a separate legal entity
Partners have limited liability
Can sue or be sued in its own name
Can own property
At least two partners, no maximum limit
Partners can be individuals or body corporate (company or other LLP)
Advantages
It is a body corporate and has legal personality separate from its partners
It has perpetual succession. Any change in the partners of a LLP does not affect its existence, rights or liabilities
Compliance requirements are simpler as compared to private limited company
No annual returns filing required of LLPs, except for income tax
Partners not personally liable for debts and losses of LLP incurred by other partners
Disadvantages
Profits taxed at partners’ personal income tax rates, therefore, not eligible for tax incentives or exemptions
The partners of LLPs own the assets of the business personally, and therefore personally liable for debts and losses resulting from their own careless actions
Summary of Setup Requirements for a LLP
Minimum 2 Partners
Minimum one manager who must be a Singapore resident
A Singapore registered office address
The registration is valid for one year and subject to an annual renewal.

  Insurance For Your House   Buy insurance early and ASK; Are you covered with death, total or permanent disability?
Are you covered for critical illness?
Are there conditions for accompanying benefits?
Are payout in lump sum or installment
Are the premiums guaranteed

 Valuation  

  Why do I need to get a valuation done before I sell my house? In volatile markets, selling your property based on the latest transacted prices may be inaccurate due to the time lag between the actual transaction and the published transacted prices. Also, most buyers would want to know the valuation or the bank indication of the value of your property to assess their ability to purchase your home.

In the case of HDB properties, the Seller would normally obtain a Valuation before putting the property for sale in the open market. This is because the valuation will help the Seller to determine a fair selling price, whilst at the same time enables a potential Buyer to compute his financial commitment towards the purchase.

Property Value - What are the main factors that affect the value of my property?
The factors are:
a) Tenure
b) Location
c) Quality
d) Proximity to conveniences and facilities such as MRT, market, bus-stops
e) Surrounding features such as beautiful scenery/landscape
a) Current demand for the property 

 Joint Tenancy 
When two or more people share ownership of real estate or other property and if one joint tenant dies, his or her rights in the property automatically goes to the surviving joint tenant or tenants. One of the most important things about joint tenancy is called the right of survivorship.
If Peter had left a Will, Peter's interest in the property will not be distributed in accordance with his Will. In other words, the survivor of the two will be entitled to the entire property. This is the right of survivorship.

 Tenancy in Common
A property held by tenancy in common can be owned by two or more owners and need not be related. Ownership can be held in equal shares or unequal shares. For example, Peter could hold 50% ownership, Mary Jane 25% and Simon 25%.

  Caveat Emptor  
Latin for "Let the buyer beware". Under the doctrine of Caveat Emptor, the buyer could not recover from the seller for defects on the property that rendered the property unfit for ordinary purposes. The only exception is if the seller actively concealed latent defects

 Investment: Income Generation, Smart Investment  
Monthly Investment Plan(MIP) and Dollar Cost Averaging(DCA) Planning.

  Full Electronic Submission Of Resale Applications & Valuation Requests From 03 Jan 2011 
In line with Singapore e-Government framework, HDB will be implementing full electronic submission of resale applications and valuation requests from 03 Jan 2011.  From 3 Jan 2011, HDB will also allow the buyer and seller, or their agents, to submit their respective portions of the resale application separately. Currently, resale applications are submitted jointly. This move to allow separate application is in line with the Estate Agents (Estate Agency Work) Regulations 2010 which disallows the same real estate salesperson to be engaged by both the buyers and sellers in a transaction.
Either party or their agents can submit their own portion of the resale application first. Once HDB receives the first party portion of the application, HDB will notify both the buyers and sellers via their MyHDBPage on HDB website. The other party should submit their portion within 7 days to book the first appointment.  Otherwise, the submission from the   first party will lapse, and a fresh application will have to be made.

HDB will no longer accept manual hardcopy  applications from 3 Jan 2011.  (source from www.denniswee.com)  

 FAQs - Be A Registered Salesperson
   Are salespersons still able to continue our estate agency work after 22 October 2010 before the application is approved?
A15. Yes, salespersons can practise in the interim. From 01 Jan 2011 onwards, all salespersons will need to be registered with CEA through their estate agency before they can do estate sales work. (source CEA website www.cea.gov.sg)

 FAQs - Licensing & Registration Fee 

Will the new regulatory regime increase compliance cost  for the industry and would such costs be passed on to consumer in terms of  commission? How were the licensing and registration fees determined?
A6. The regulatory cost for industry will go up with the additional resources required to carry out the increased regulatory work and the stepped-up enforcement actions. However, the fees charged are tiered based on the size of agencies to reflect the expected additional regulatory work for the larger agencies.
Commissions charged by the salespersons are influenced more by the demand and supply of estate agency services than by the compliance costs. Consumers are encouraged to find out the different commission rates and they can negotiate the commission rate before engaging the estate agent.   (source CEA website www.cea.gov.sg)

    En-Bloc 
What is the meaning of selling en-bloc? It means all the owners of separate units in an apartment, condominium or even an office building, collectively sell their properties.

How can an en-bloc sale be conducted? Commonly either by way of private treaty or tender.

What are the legal documents in an en-bloc sale? There are two mainly two legal documents – the Collective Sale Agreement and the Sale and Purchase Agreement. However, if the property is sold by tender, then the latter would take the form of a Tender Document.

What are the main steps involved in an en-bloc sale process? Phase 1: Pre-Sale Preparation (1 months or more on case by case basis and depending on the number of owners involved in the Sale) – it includes the signing of the Collective Sale Agreement
Phase 2: Public Tender Stage (1 month) – Development is up for Public Tender, and await developers to submit their bids
Phase 3: Post Tender (1 month) – Evaluation of bids and negotiations with developers if necessary
Phase 4: Legal Completion (3 months) – if there is less than 100% consensus, an application for an order to sell to the Strata Title Board is required.
En-Bloc - On the average, how long does the en-bloc sale process take? Generally, it takes about 9 to 12 months.

What are some of the principal terms in the Collective Sale Agreement?  Reserve price – the minimum price that owners agree to sell
Method of apportionment of sale proceeds
The validity period of the Collective Sale Agreement
Date to deliver vacant possession, and how much is to be retained by the developer till vacant possession is delivered
The last day for all existing tenancies, -Owners are to inform their tenants with regards to the last day if the existing tenancies expiry dates are beyond the last day.
The Indemnities for the Sale Committee and between owners-The Sale Committee’s authority to sign plans for submission by the purchasers to the relevant authority.

What happens to the deposit paid for an en-bloc sale when only the majority owners have agreed to sell? During this time, the developer purchase is on condition that an order to sell is given by the Strata Title Board. The deposit paid usually is held by the Vendor’s lawyer as stakeholder.

What is required by the Strata Titles Board to approve an en-bloc sale? For developments that are less than 10 years old – the subsidiary proprietors with not less than 90% of share values must agree to sell
For developments of 10 years or more – the subsidiary proprietors with not less than 80% of share values must agree to sell
The “Age” is taken from date of issue of the latest Temporary Occupation Permit (TOP) or, if no TOP is issued, then the date of the latest Certificate of Statutory Completion is used.
The agreement to sell must be in writing under a Sale and Purchase Agreement, which specifies the proposed method of distribution of the sale proceeds
En-bloc Sales Committee Members must now be appointed at EGM of the respective developments
Majority need to give an undertaking to pay the costs of the Strata Titles Board
Majority need to consider the collective sale at an extraordinary meeting
Advertise the particulars of the application in four languages in the local newspaper
Send a copy of the proposed application to all subsidiary proprietors, mortgagors, CPF Board (if CPF fund are used for the purchased) and the placement of a copy under the main door of every unit
The application should include copies of the advertisement in the four languages, the Sale and Purchase Agreement, a statutory declaration by the purchase on his relationship, if any, to the subsidiary proprietors, minutes of the EGM, and valuation reports on each type of the apartment and method of distribution
Affix a copy of the notice in the 4 official languages to a conspicuous part of each building

What actually happens before the approval of an en-bloc sale? The Strata Titles Board will make an order for sale if it is satisfied that:-
* the sale was done in good faith.
* the sale was conducted fairly, the Board will consider all the facts of the sale-such as the sale price, the distribution of the sale proceeds, and the relationship between the purchaser and any of the owners.

What are some examples of en-bloc sale not done in good faith? An example is where owners of larger units agree on a certain method of apportionment which favours them and try to force the minority to agree to it. Other questionable methods include collusion between the majority owners and the developer; and sellers being coerced into a joint venture with the developer.

Under what other circumstances would a collective sale would not be successful? If the minority owners are likely to suffer a financial loss as a result of the sale going through, the Strata Titles Board may not allow the sale.
If the apportionment amount is not able to discharge the outstanding mortgage.

What are the methods used to apportion the sale proceeds? The Singapore Institute of Surveyors recommends the following methods:-Share value Method: the apportionment for each unit is proportionate to its unit’s share value in relation to the total share value for the development.
An average of the strata floor area and the share value method – the apportionment is according to the unit’s strata floor area in relation to the total strata floor area. The figures derived from the share value Method and floor area method are then averaged by taking 50% of each method.
General valuation – a value is estimated for each typical unit. This valuation is on an individual market basis, ignoring collective sale potential, floor level, facing etc.. The valuation of each typical type of unit would vary according to the floor area of each unit on the basis that the larger the unit, the lower the value per square foot. The apportionment for each unit would then be in proportion to that unit’s value in relation to the total value for the whole development.
The combination of general valuation and share value Method – a value is estimated for a typical unit of each type as in (c), and the total value is computed. This total value is then deducted from the sale price, and the balance is distributed to each unit according to each unit’s share value as a proportion of the total share value for the development.

 IRAS: Annual Value

How is Annual Value (AV) determined?
A) Buildings
The AV is the estimated annual rent of your property if it were to be rented out, excluding the furniture, furnishings and maintenance fees. It is determined after analysing the rents of similar or comparable properties. The basis of determining the AV is the same whether the property is rented out at high or low rental rates, owner-occupied or left vacant.
Illustration (A):
Estimated market rent of your flat is $1,000 per month
Annual Value is: $1,000 x 12 = $12,000

B) Land and Development Site
The Annual Value is determined at 5% of its estimated freehold market value.
Illustration (B):
The market value of your land is $1,000,000
Annual Value is: 5% x $1,000,000 = $50,000
(source www.iras.gov.sg)

 IRAS: Stamp Duty

What is Stamp Duty? Stamp Duty is a tax levied on documents which record transactions, such as disposition or transfer of interest from one party to another. Therefore, stamp duty is payable by the person who purchases any immovable property.

 How much Stamp Duty do I have to pay? Three(3%) percent of the Sale / Purchase price, less $5,400.00. ( for property prices of at least $360,000.00 or above) otherwise to compute by breaking down the Sale / Purchase price:
The formula to calculate is:
First $180,000 (1%)
Next $180,000 (2%)
Thereafter (3% )
Examples:
(1) Transacted property price S$2,000,000
3% of S$2,000,000 S$60,000
less S$5400 S$5,400
Stamp duty payable S$54,600

(2) Transacted property price S$2,000,000
Property purchase price S$2,000,000
1% on the first S$180,000 S$1,800
2% on the next S$180,000 S$3,600
3% on the remaining S$1,640,000 S$49,200
Total stamp duty payable S$54,600

 When do I have to pay for the stamp duty? Depends on whether the property bought is completed or still under construction. For completed properties, the stamp duty is payable within 14 days of the completion of the sale if the document is signed in Singapore. If the document is signed outside Singapore, the stamp duty has to be paid within 30 days after the Sale and Purchase Agreement is received in Singapore.

For uncompleted properties, the Stamp Duty is payable within 14 days after the TOP (Temporary Occupation Permit) is issued or when you sell the property, whichever is earlier.

 Does a seller of a property need to pay stamp duty? Under the Anti-speculation curbs announced by the government on 20 February 2010, the seller of a residential property needs to pay for the stamp duty if the sale of property was made within 3 years after the purchase of the property. This regulation was suspended by the government on 18 November 1999, and has since been repealed.

 IRAS: Property Tax

 What is Property Tax? It is a tax payable by a property owner, based on the annual value of the property. The annual value is calculated from the potential gross rental the property can generate in a year on the basis that the owner is paying for the costs for repairs, insurance, and maintenance (excluding GST).

 What is the rate of Property Tax? The property tax rate varies. If you are occupying a residential property, the property tax is only 4% of the annual value of the property. If the property is not owner-occupied, you have to pay the tax rate of 10% of the annual value of the property. In the case of non-residential property and vacant land, the tax rate is 10%, regardless of whether it is owner-occupied or not.

 What is Annual Value? Annual Value is the estimated annual rent of your property assuming it is let out. Amount excludes the rent for furniture and fittings and the service charge. The Chief Assessor will determine the Annual Value of the property by analyzing rents of comparable buildings and relevant data. The annual value is determined in the same manner regardless of whether the property is let, owner-occupied or vacant.

 Does the owner-occupier’s concessionary tax rate apply to companies with ownership of the property? No. Only individual owners are qualified. Even if the property owned by a company has been used as living quarters for employees, the company is still liable for the property tax rate of 10% per annum of the annual value.

 If I reside in 3 different properties, can I be granted the owner-occupied rate for all the 3 properties? No. You can only be granted the owner-occupied rate of 4% for only 1 residential property .

 If I own a HDB flat and a private apartment, can I choose to have the owner-occupied rate of 4% for the private apartment? No. If you own both a HDB flat and a private apartment, the owner-occupied rate can only be for your HDB flat. However, if you owner-occupy 2 private properties, you may then choose to have the owner-occupied rate for any of them.

 I have just purchased a property and found out that the previous owner did not pay for the outstanding property tax prior to the sale. Am I then liable to pay for him? Unfortunately, the government looks to the property and not the owner for collecting the property tax. Therefore, in this case, you are liable to pay for the property tax bills for the previous owner.

 How can I find out the amount of property tax for the property I wish to purchase? The easiest way to find out is to ask the Seller for his current property tax bill.

 How can I be sure that the Seller has already paid for the property tax? Your Lawyer can request for the Seller to produce the receipt for property tax or the Confirmation Note issued by the Comptroller of Property Tax.

 CEA: Request Form For Assessment Of Academic Qualification

For those who does not have 4 GCE "O" Level passes but has another educational certificate (local or overseas) whereby you are unsure if the certificate is equivalent to the 4 GCE "O" Level passes, they should submit Request Form For Assessment Of Academic Qualification personally with the educational certificate to CEA.
Click To Download Request Form.

   CEA: 4 'O' Level Criteria 

 How did CEA arrive at the 4 GCE 'O' level passes criteria?  Are there any alternatives available for applicants who are unable to fulfill this criterion?
  The minimum educational requirement of 4 GCE "O" level  passes is  set to  ensure that the  applicant has the basic competency level. Individuals who are unable to meet these criteria will be required to take the Workplace Literacy and Numeracy (WPLN)  assessment administered by WDA.   

A WPLN ( Reading, Listening, Speaking, Writing and Numeracy ) Level 5 will be recognised in lieu of 4 GCE "O" level passes.

Details of the assessments can be found at WDA's webpage: Workplace Literacy & Numeracy Assessments   (source www.cea.gov.sg)

  CEA: Mediation and Arbitration 
  What is the difference between mediation and arbitration?
  In general mediation is a process where the mediator facilitates the consumer and estate agent in trying to resolve a dispute and come to a mutually acceptable agreement. The decision is left to the parties & is not dictated by the mediator. As for arbitration, it is a process where the arbitrator will consider the issues of both parties and arrive at a decision which is binding on both parties.

 CEA: Dual Representation
  My client is the buyer/tenant. As my client does not pay commission to me, can I collect the commission from the seller/landlord when the deal is closed?
A46. No, it will be a case of dual representation as a salesperson can only act for one party in a property transaction and can only collect commission from the party he acted for.

  If one of our salespersons act and collect a fee from the tenant/buyer, can another one of our salespersons act and collect a fee from the landlord/seller?
A47. If the salesperson who collects a fee from the tenant/buyer and also collect part of the fee from the landlord/seller, it will be a case of dual representation and cannot be allowed.

However, if the landlord is represented by another salesperson, it will not be considered dual representation, even if the two salespersons are from the same estate agent.

  Some sellers/ landlords market their properties themselves. If I, as a salesperson bring a buyer / tenant to the seller / landlord and close the deal, should I collect the commission from the buyer/tenant or from the seller/ landlord?
 You should collect the commission from whoever you act for. If you wish to collect the commission from the landlord / seller, you must act for the landlord / seller. You are not allowed to act for the buyer / tenant and collect the commission from the landlord / seller.

  If a salesperson introduces his buyer / tenant to a developer, can he collect a fee from the developer?
  If a salesperson acts for the buyer / tenant but collects the commission from the developer, it will be considered as a case of dual representation.

  Will an agent acting for an absentee landlord be dual representing if both the tenant and landlord use him to renew the lease?
  Yes. It will be a case of dual representation. The salespersons will have to choose whether to act for either landlord or tenant in the renewal of the lease. He cannot act for both.

  If the buyer and seller knows each other and appoint me as the salesperson to handle the paperwork for them, is that considered as dual representation?
  The salesperson cannot be appointed by both buyer and seller. He can only act for one party. However, he may still help the other party do the paper work as long as it is clear that he is not acting for the other party and obtain the consent of his client.

  Will it contravene dual representation policy if an agent collects a management fee whilst also looking after the interests of the tenants?
  Banning of dual representation is in respect of estate agency work only. Management of a property is not considered as doing estate agency work. The salesperson may act for the tenant but continue to manage the property for the landlord as long as he declares the conflict of interest to both the tenant and the landlord.

 If I am marketing the property of a seller and a direct buyer comes along to make an offer. Will I be allowed to do the paper work for the direct buyer if I am not collecting any commission from him?
  You may do the paper work for the buyer as long as you do not collect a fee from him and obtain the prior consent of your client.

 If the client insist on giving a salesperson an 'Ang Bao' out of goodwill, will it be considered as dual representation?
  A salesperson is allowed to act for only one party in a property transaction and collect commission from the party he /she acts for only. If the salesperson intends to collect any other payment, such as "ang bao", depending on the actual circumstances, he may violate the ban on dual representation.

 Can a salesperson collects commission from his client as well as collects a co-broke fee from the other salesperson representing the other party?
  The salesperson may collect the commission from his client or the co-broking salesperson but not from both.
(source CEA website www.cea.gov.sg)

 CEA: Transaction Monies
  The salesperson assists the landlord in paying the bills for the apartment and repairs to the apartment. The tenant will pay the salesperson cash or bank into the account of the salesperson to pay for the rent. The salesperson will then deduct the fees payable and remit the remaining to the landlord. The landlord is overseas and requested for such an arrangement. Is this still allowed?
 The ban on handling cash is for carrying out estate agency works for buying / selling of properties situated in Singapore and leasing of HDB properties only. The salesperson may receive such reimbursement as the salesperson is entitled to under a written authorization from, or management contract with, the landlord.

  Can the estate agent or salesperson could use their own monies to place deposits for tenants of HDB leases or to pay for the option as their clients could be overseas/foreigners without chequing accounts as yet?
  CEA does not prohibit the salespersons and estate agents from drawing a crossed account payee cheque (and in so doing using their own monies), and handing such cheque to the seller/landlord or their salesperson, to pay for their clients first subject to the salespersons obtaining the consent from the clients and the payment does not subject their clients to liability which their clients are not aware of.

  Would valuation fees, stamp duty fee and commission be considered as transaction money?
Only stamp fees in the above example will be considered as transaction money.
(source website www.cea.gov.sg)

Catherine PANG - Div Dir
 CEA Registration: R017886E  Cert-in-CEHA
+65 9680 4288