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
Delfi Orchard up for collective sale at S$438 million guide price
US existing home sales drop in March; median price increases
German home building permits tumble 18% in February, extending rout
China national who had Singaporeans front plan to buy East Coast houses pleads guilty
Freddie Mac seeks regulatory approval to back home-equity loans
China national fined S$45,000 for having Singaporeans front plan to buy East Coast houses