Training of  Agents - What Should It Cover?

1.       Code of ethics and professional client care(CEPCC).

2.       Regulation of estate agency work.

3.       Practice guidelines for ethical -advertising

4.       Prescribed estate agency agreements

5.       Processes on Claims and Complaints

6.       Invoice & receivable commission

7.       Responsibility towards company's property

8.       Conflict of interest and declaration of conflict of interest

9.       Sales and service delivery process

10.     Salesperson presentations and social etiquette

11.     Handling and conducting viewing of property

12.     Communications with client

13.     Preparation of sales or tenancy agreements

19.     Appropriate steps for closing transactions & follow-up actions

15.     Obligations of salespersons to the client

16.     Listings and advertising

17.     Exclusive listings

18.     Duration of listings or any extension of listing

19.     Actions to take when property is sold

Training, Motivation & Recognition for Salespersons   

1.      Communicating with Client and Scheduling of Appointment by Salespersons.

2.      Handling and Conducting Viewing of Property.

3.      Preparation of Sales or Tenancy Agreements, LOl or LOO.

4.      Appropriate steps for Closing Transactions and follow-up actions by Salesperson.

5.      Follow-up actions by Salespersons.

Our core competences are in delivering  real estate services:

- Provide relevant, useful and timely  information for  pre-negotiation.

- Prepare property market information and Market Comparables

- Advise and Assist you to achieve your objectives at the negotiation table.

- Practising and Licensed appraiser

-  Specialized Sales Expertise across the spectrum of property needs from residential ,

 commercial office and retail, industrial together with a multi-discipline approach to solutions

- Advise valuable market intelligence, concept and understanding of government policies.

In the provision of estate agency service, an estate agent is  now guided by the  ESTATE AGENCY ACT  in regards to the estate agency regulations, guidelines, code of ethics and professional conduct.

An estate agent act for the principal/ property owner wishing to sell his /her property or landlord wishing to lease his/her property.

An estate agent can also act  for Third Party in an agency relationship for a buyer of property or a tenant.

The estate agent's authorisation, duties and rights, as  defined and regulated  by CEA,   are to be governed by way of express standard agreement in writing. Verbal and oral engagement or implied agreement must be followed up by email to establish the vendor's consent and agency relationship in writing  in accordance with CEA.

Types of agency

Sole agency - Owner may not appoint other agents during the period of sole agency  ( a specified time or if not stated a reasonable time) in force. In exchange, the agent will use his best efforts to find purchaser or tenant for his client's property. However, owner may sell or rent by his own efforts, in which case he is not obliged to pay a commission to the agent.

Sole and exclusive agency - Owner may not appoint other agents during the period ( a specified time or if not stated a reasonable time) in force. Owner also may NOT sell or rent by his own efforts, and if he does sell his property, he is obliged to pay a commission to the agent.

Sub-agency / Conjunction Agency -A sole agent may enter into commission-sharing agreements with sub-agents. The sub-agent will conduct all offers, negotiations and other interactions with Third parties  through the sole agent who is acting for the owner. There is no relationship between the owner and the sub-agent. the Principal is not accountable for the sub-agent's action- only the main agent's. The appointed agent is entitled to the full commission from the owner if any of his sub-agents succeed in finding a purchaser, but he is responsible for paying  the agreed share of commission to the successful sub-agent based on the terms of the commission sharing agreement/ co-brokerage agreement.

Joint sole agency/ co-brokerage- This is a sole agency whereby 2 or more agents are appointed to co-operate  on the sale or lease of a property. the commission is either shared in a pre-arranged manner between agents or only a successful agent will earn the commission.

Agency authority - Duties of agent.

Duties of an estate agent

Duty to act and perform - acting in utmost good faith and to make best  endeavours to bring about a sale for the fee/commission or at least reasonable endeavours if it is impossible to carry out what he has been commissioned to do and  informing the principal of the reasons.

 Duty to follow instruction-Bound to obey the instructions of principal and to clarify with principal 's intentions, if the instructions are unclear, and provided the instructions are reasonable, lawful and fall within the scope of the agency agreement.

Duty to exercise reasonable care and skill- Display an understanding of the practice and procedures involved in the real estate agency-  informing principal  of a better offer , misrepresenting  or misinforming property information to prospective purchasers ... and a higher  standard of care will be imposed if he  is paid for higher level competence, professional advisory role.

Duty not to delegate - Duty to perform personally what he has undertaken to do and not to delegate unless specifically authorised or informing the principal and the principal is aware that the agent is delegating  to a personal assistant.

Duty to keep separate accounts- in relation to transactions / funds and accounts of the  principal  and account for all monies receive on behalf of  the principal.

Duty to act honestly- an agent must act in good faith and honesty when discharging his duties.

Limits of authority.

No authority to enter into a contract on behalf of owner  unless special authority by way of Deed of Power of Attorney.

No authority to retains monies and only hold in trust for the benefit of the owner unless  otherwise  expressly authorised

No authority to delegate to sub-agents  or misrepresent or warrant conditions of the properties...etc