CEA fines and suspends property agent for breaching code of ethics
THE Council for Estate Agencies' (CEA) Disciplinary Committee has slapped a S$6,000 fine on PropNex Realty property agent Ng Ser Leong for two counts of breaching the code of ethics and professional client care.
In addition to the fine, the Disciplinary Committee also imposed a seven-month and four-month suspension on Ng's registration to conduct estate agency work for each charge. The suspension periods will run concurrently from October 19, 2017.
Four other charges were taken into account for sentencing purposes.
Ng was found to have breached the code while representing an elderly couple in their 80s in the sale of their Housing and Development Board (HDB) flat.
The 44-year-old had failed to ascertain if the elderly female seller was fully aware of the nature and consequences of the sale of the flat before proceeding with the sale. She is illiterate and suffers from dementia.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
Singapore office rents in central region fall 1.7 per cent in Q1 after rising for 9 quarters
Singapore retail rents slip 0.4% in Q1 as vacancy rates creep up
Country Garden plans to present debt revamp plan in H2, sources say
Hong Kong home prices rise for first time in 11 months after curbs scrapped
HDB resale prices accelerate, rising 1.8% in Q1 on stronger demand
Private home prices ease to 1.4% rise in Q1; rents fall a further 1.9%