Interested in joining Singapore's vibrant property industry? Embarking on a career as a real estate agent can be immensely fulfilling career choice. However, the journey isn't without its challenges. This is our journey and what you can expect as an aspiring real estate agent.
To begin, you must complete the Real Estate Salesperson (RES) course and pass the RES Exams to become registered with the Council for Estate Agencies (CEA).
RES Course Fee:
The RES course fee ranges from $650 to $850, offered by various CEA Approved Course Providers. Singaporeans and Permanent Residents above 25 years old can use SkillsFuture credits of up to $500, while NTUC members enjoy up to $250 UTAP subsidy for exams. Refer to our article on how to submit your SkillsFuture claims here.
RES Examination Fees:
The RES Exams comprise two papers, each costing $425.10 (inclusive of GST). Retaking an exam costs $239.80 (inclusive of GST) per paper.
License Registration Fees:
Additionally, there are registration fees with licensed estate agencies, including a $280 registration fee, approximate $120 for Professional Indemnity Insurance, and agency levied admin fees ranging from $300 to $500.
In total, expect to budget around $2,200 to obtain your real estate license through a real estate agency upon passing on the first attempt.
Overview of the RES Course:
The RES Course, mandated by the Estate Agents Act, equips aspiring property agents with essential industry knowledge and ethical standards. Delivered by Council of Estate Agencies (CEA) Approved Course Providers, it covers a broad spectrum of topics, including industry regulations, policies, and procedures. The goal of CEA when it was established in 2010, was to regulate the real estate industry practices in Singapore.
To be qualified for the RES Course, you will have to meet these requirements:
At least 21 years old
Singaporean or Permanent Resident
Minimum 4 GCE ‘O’ Level passes or equivalent (WPLN)
Fulfils CEA fit and proper criteria
RES Exam Topics:
The RES Exams assess your understanding of four competency units related to the real estate industry, covering areas such as land law, property transactions, and regulatory frameworks on a broad level. Here is CEA's full version of the RES Exam syllabus:
To be honest, the topics are so wide spanned that even practicsing agents may struggle with it as some of the knowledge are may not be typically used in day to day work of an agent. To top it of, the exam is often tricky with word plays to leave you confused. That is why we designed a quick and easy way to give you as much practice as you can on your devices with resexam.sg where you can cover large grounds in active recall of RES Exam fundamentals, along with explanations to guide you.
RES Exam Schedule & Format:
Exams are held three times a year, typically in March, July, and November. The format includes multiple-choice questions and case study analysis.
There will be a total of 2 papers with Paper 1 and Paper 2 in the following format:
Section A consists of 60 Multiple Choice Questions (60 marks)
Section B consists of 20 Multiple Choice Questions with reference to 1 or 2 Case Studies (40 marks)
The duration of each paper is 2.5 hours.Â
You are required to pass both papers in order to obtain your licence. The passing mark for each examination paper is 60% and is subject to review by the Council for Estate Agencies (CEA).
The exams results will be in one of the following formats:
Pass (P)
Fail (F)
Pass Paper 1; Fail Paper 2 (P1 F2)
Fail Paper 1; Pass Paper 2 (F1 P2)
The good news, is that if you have passed one of the modular papers, you only need to retake the other paper that you failed. However, there's a catch!
You need to pass both papers within 2 years of getting your RES Course completion certificate, otherwise you will need to retake the RES Course once again... Yikes! Even if you have passed one of the modular papers at this point, you will still have to retake the RES Course and BOTH RES Exam Paper 1 & 2. Moral of the story: Give it your best shot once you decided to go for it!
Appeal of RES Exams Results
Results notification will inform you of your performance. If needed, you can appeal exam results within 5 working days, subject to a fee. In the past, there used to be fill-in-the-blank questions, which was updated to just MCQ. Hence, we really wouldn't recommend appealing as the answers are clearly right or wrong for MCQ format.
Post Results
It's crucial to note that passing the RES Course and Exams is only part of the qualification process; additional criteria must be met for registration as a real estate agent. For foreigners, securing an Employment Pass (EP) from the Ministry of Manpower (MOM) is necessary before registering with CEA as a real estate salesperson. Additionally, finding a registered estate agency willing to support your application is vital.
If you ask, was all of these worth it in the end? We would tell you - DEFINITELY! It's a challenging journey to get yourself into the industry, once you're in the real fun begins with a different set of challenges and opportunities. Of course, a strong mentor to help you out would set you up for success! All the best, and we look forward to seeing you onboard. Signing off!