Dishonest Singapore Property AGENT: Will Accreditation work?

Will accreditation of property agents work?

So what if Agents learn more and become accredited, can

accreditation make agents honest?

There are many dishonest activities that an agent can engage in.

How will Accreditation help in limiting Property agent’s

dishonest behaviour? We have our doubts. 

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How can we stop dishonest agents?

Accreditation won’t help, it will only make dishonest agents more

polished and educated, but still dishonest.

 

Accreditation will help an agent become more knowledgeable, but

not necessarily more honest. The only way to plug that dishonestly

incentive is to have a system that penalizes dishonesty heavily

while incentivize honesty.

 

In order for any regulation to work, there must be both a carrot and

a stick.

To help agents become honest, banks must not deal with agents  on

home loans. Lawyers must not engage in illegal kick backs to

agents for bringing them business.

 

Agents must also not be allowed to buy properties from their clients.

They must also declare that none of their family or friends are

involved in each sale.

 

 

 

Property agent must also not be allowed to deal in both Buying and

selling.

 

 

 

The rules must solve systemic conflict of interests issues, not

promote some additional courses and pretend to be doing

something. 

 

 

 

Therefore it is important to let the agents separate into buying and

selling activities. They should be banned from other non property

buying and selling related activities.

 

 

So we do not believe sending more Singapore property agents to

 

courses and getting them accredited will help them become more

 

 

honest. More professional yes, more honest? Hmmm….

 

 

 

 

 

What are your views?

 

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