Singapore's real estate agency industry has reached a new milestone in public perception, with the 2024 Public Perception Survey (PPS) conducted by the Council for Estate Agencies (CEA) revealing record-high consumer satisfaction. According to the survey results, a staggering 92% of property consumers were satisfied with the services provided by property agents — the highest level recorded since the survey’s inception in 2012.

Direct Engagement Drives Positive Ratings

The survey assessed consumers’ views on the professionalism of property agents across five attributes: knowledge, quality of service, competence, trustworthiness, and ethics. Consumers who had direct interactions with agents gave significantly more favorable ratings than those who had not yet engaged one, underscoring the value of firsthand experience in shaping perceptions.

Why Consumers Value Property Agents

The top reasons consumers continue to engage property agents include:

• Faster transactions through agents’ networks (45%)

• Help with paperwork and procedures (44%)

• Ability to secure better deals on sale or rental prices (42%)

When selecting an agent, consumers placed strong emphasis on the reputation of both the agent and the agency (45% each), followed closely by online reviews (44%) and recommendations from friends and family (43%).

Awareness and Transparency on Commission and Contracts

There is growing awareness among consumers regarding commission negotiations and formal agreements:

• 79% of consumers knew commissions are negotiable, and 85% of them negotiated.

• 82% were aware of the CEA Prescribed Estate Agency Agreement (EAA), with 88% asked to sign it—65% even before the agent began work.

Areas for Improvement

Despite the high satisfaction, consumers expressed rising expectations. Key areas where agents could improve include:

• Understanding client needs and providing tailored advice (43%)

• Ensuring transactions comply with laws and regulations (40%)

• Negotiating better terms and prices (38%)

To address these gaps, Project ADEPT, a CEA-industry workgroup launched in 2021, has rolled out initiatives to enhance Continuing Professional Development (CPD) for agents. These include increased training requirements and improved course standards to raise industry professionalism.

Embracing Digital Tools

The industry’s digital transformation is gaining momentum. Consumers reported increased exposure to property tech, such as:

• Online listings and market trend platforms

• Financial calculators and pricing tools

CEA’s collaboration with the SMEs Go Digital Programme has helped over 180 property agencies adopt digital solutions in operations, marketing, and HR management.

Evolving Consumer Expectations

The 2024 survey also explored consumers’ views on industry practices. Notably:

• 74% believe agents should handle at least one transaction annually to stay updated.

• 70% used the CEA Public Register to verify agent credentials—an important safeguard against rental scams.

Looking Ahead

CEA Executive Director Chan Khar Liang highlighted that while agents are increasingly valued, the demand for professionalism and current knowledge is growing. “CEA will continue working closely with industry stakeholders to raise standards and ensure consumers have confidence when working with property agents,” he said.

As Singapore's property market evolves, these findings affirm that quality service, ethical practices, and digital readiness will remain central to building consumer trust in the real estate agency industry.