(and the changing landscape for Singapore’s estate agents)
History of IEA
- Oct 06, 1998
The Institute of Estate Agents, Singapore was formed from the agreed amalgamation of the Association of Singapore Realtors (ASR), Association of Singapore Real Estate Agents (ASREA) and Society of Singapore Institute of Surveyors and Valuers Accredited Estate Agents (SOCREA) to represent all estate agents and agencies. - Oct 22, 2010
CEA was formed as a statutory board under the Ministry of National Development. Established under the Estate Agents Act, CEA is empowered to administer the regulatory framework for the real estate agency industry. - Mar 02, 2012
IEA is one of the founding members of the ASEAN REAL ESTATE NETWORK ALLIANCE, ARENA. The purpose is to establish a cooperation framework among the ASEAN associations or institutions, facilitate cross-border networking platforms and promote friendship among the Realtors. On 25th August 2016, associations from Cambodia, Indonesia, Myanmar, Thailand and Vietnam joined in. - Feb 08, 2018
The Real Estate ITM 1.0 was created by the government and industry stakeholders to enhance the real estate sector in Singapore. As early as 2017, over 50 engagement sessions were held with property-related businesses, property agencies, conveyancing lawyers, valuation firms, facility managers, property developers, and property technology firms, to develop the ITM. The ITM concentrates on property transaction services and facilities management as they were recognized as areas with high potential for improvement. - Jan 01, 2020
In response to call for REITM, the 11th and 12th Councils took on the tasks of laying the foundation for IEA's transformation which was expedited during the heights of 2020-2021 Covid-19 pandemic. - May 01, 2022
IEA members elected the 13th Council comprising 16 Council Members who will steward IEA into its next chapter beginning 1st May 2022 ending on 30th Apr 2024. - Sep 09, 2022
Since the launch of the Real Estate ITM (version 1.0), the operating environment of the real estate agency industry has evolved, and the industry now faces new challenges brought about by the COVID-19 pandemic. On 9 September 2022, CEA launched the Real Estate ITM 2025 under ongoing ITM 2025 efforts led by the Future Economy Council (FEC). - Jan 01, 2023
Entering post-COVID-19, real estate partitioners are finding their way back into the business. As the world has slowly started to recover from the pandemic, the property market has also begun to bounce back. IEA will continue to press on for the realtors to maintain the standard of practice as well as guard the consumers' interest.
