How to Start a Real Estate Agency in Singapore?
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Singapore Real Estate Market Growth
Singapore’s real estate market remains strong, driven by rising land sales and growing investor interest. With its strategic location and skilled workforce, the country attracts global buyers and businesses alike. Demand for residential and commercial spaces continues to rise, making property a popular investment. To register a real estate business in Singapore, agencies must be licensed by the Council of Estate Agencies (CEA); professionals must also be registered through a licensed agency to open a real estate business in Singapore.
Steps to Start a Real Estate Business in Singapore
Licensing Criteria for Real Estate Agencies
01
Must be registered with ACRA as a sole proprietorship, partnership, or private limited company.
02
Must appoint a qualified Key Executive Officer (KEO) with clean legal and financial records.
03
KEO must have passed CEHA/REA exam and possess 3+ years of experience.
04
KEO should have completed at least 30 property deals in the past 3 years.
01
Must be registered with ACRA as a sole proprietorship, partnership, or private limited company.
02
Must appoint a qualified Key Executive Officer (KEO) with clean legal and financial records.
03
KEO must have passed CEHA/REA exam and possess 3+ years of experience.
04
KEO should have completed at least 30 property deals in the past 3 years.
05
Agency or main staff must not hold or work for a licensed money-lending business.
06
Must have a valid Professional Indemnity Insurance covering the agency and all agents.
07
Required to maintain SOPs for operations, training, client data, and complaint handling.
08
Must issue estate agent ID cards to all practicing agents per CEA guidelines.
05
Agency or main staff must not hold or work for a licensed money-lending business.
06
Must have a valid Professional Indemnity Insurance covering the agency and all agents.
07
Required to maintain SOPs for operations, training, client data, and complaint handling.
08
Must issue estate agent ID cards to all practicing agents per CEA guidelines.
Criteria for Individual Real Estate Agent Registration
- Must be at least 21 years old with 4 GCE 'O' Level passes or equivalent.
- Must have passed the RES exam or an equivalent industry exam.
- Can only be registered with one licensed real estate agency at a time.
- Must not be a moneylender or work for a licensed moneylender.
- Cannot be a current KEO or licensee of another real estate agency.
- Required to complete at least 6 hours of professional development annually.
- Must be covered under valid Professional Indemnity Insurance for at least one year.
- Must not be bankrupt or convicted of fraud and must always wear an agent ID during work.
- Cannot be a current KEO or licensee of another real estate agency.
- Required to complete at least 6 hours of professional development annually.
- Must be covered under valid Professional Indemnity Insurance for at least one year.
- Must not be bankrupt or convicted of fraud and must always wear an agent ID during work.
Getting Licensed: Steps, Fees, and Requirements for Real Estate Agencies
Application Steps and Procedure
- Submit your Business Profile (obtainable via ACRA).
- Provide the Professional Indemnity Insurance schedule or cover note (valid for at least 1 year).
- Ensure your agency name is registered with ACRA.
- Have your business registration number ready.
- Prepare personal details of the KEO, directors, partners, or sole-proprietor.
- Maintain a record of your last 30 sales or lease transactions in the past 3 years.
Approval and License Issuance
- Once approved, the CEA sends an email notification.
- Licenses are issued as soft copies, downloadable from the CEA portal.
- Processing time: Typically 4–6 weeks.
License Fees
- License fee: S$300 to S$3,000 annually (based on number of agents).
- Application fee: S$107 (for both new and renewal applications).
Agent registration:
- Annual fee: S$230 per agent
- Application/renewal fee: S$54 per agent
- Payable every time an agent switches firms
FAQs
To begin, you need to register your business with ACRA. You can choose from: Sole Proprietorship, Partnership, and Private Limited Company.
Yes, you must apply for an Estate Agent License from the Council for Estate Agencies (CEA). This applies to all business structures.
You need the company’s Business Profile from ACRA and the Key Executive Officer’s (KEO) qualification documents.
Register your company with ACRA and apply for a real estate agency license from CEA. Appoint a Key Executive Officer (KEO) who meets all qualification and compliance criteria.
A Key Executive Officer must be a senior partner or director with 3+ years’ experience and 30+ deals. They must be exam-qualified, not tied to other firms, and have no criminal or bankruptcy record.
Real estate agents represent buyers or sellers in property transactions, handle negotiations, and manage all related paperwork.
To start a real estate agency in Singapore, you must register with ACRA and apply for a license from the Council for Estate Agencies (CEA). Your key executive officer and agents must also meet specific qualification and experience criteria set by CEA.
High land costs and regulatory limits pose challenges for developers and investors.
At the same time, strong demand for mixed-use spaces and green buildings creates room for growth.
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