No dual representation – CPD courses
Example: CPD courses
5.—(1) No salesperson or estate agent who is a natural person shall, in respect of the same property, have as clients both vendor and purchaser or both landlord and tenant. CPD courses.
(2) Paragraph (1) applies regardless of the consent or agreement of the client or of any or all the parties to the relevant transaction.
(3) Any person who contravenes paragraph (1) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $25,000 or to imprisonment for a term not exceeding 12 months or to both. CPD courses.
No referrals to moneylenders – CPD courses
6.—(1) No estate agent or salesperson shall —
(a) introduce, refer or recommend a client to any moneylender or otherwise suggest the use of the services of any moneylender; or
(b) receive any commission, reward, fee, payment or other benefit whatsoever from any moneylender in respect of any moneylending transaction.
(2) Any person who contravenes paragraph (1) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $25,000 or to imprisonment for a term not exceeding 12 months or to both. CPD courses.
No holding of transaction monies – CPD courses
7.—(1) No estate agent or salesperson shall hold or handle any money for or on behalf of any party in relation to any of the following property transactions:
(a) the sale or purchase of any property situated in Singapore; and
(b) the lease of HDB property.
(2) Paragraph (1) shall not prevent any estate agent or salesperson from —
(a) delivering on behalf of any party a crossed account payee cheque or cashier’s order drawn in favour of another party to the transaction; or
(b) receiving such remuneration or reimbursement in relation to the management, repair or renovation of the property as the estate agent or salesperson may be entitled to under
a written contract or authorisation. CPD courses.
(3) Any person who contravenes paragraph (1) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $10,000 or to imprisonment for a term not exceeding 6 months or to both and, in the case of a continuing offence, to a further fine not
exceeding $500 for every day or part thereof during which the offence continues after conviction.
Source: Estate Agents (Estate Agency Work) Regulations
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