Indranee encourages real estate agencies to build trust and professionalism

TRUST and professionalism are of importance to the real estate agency industry, said Second Minister for Finance and National Development Indranee Rajah, encouraging property agencies and agents to raise professionalism in the sector.

Speaking at the ERA Asia Pacific Business Conference 2021 on Wednesday, she pointed out the importance of strengthening consumer confidence in property transactions, which make up one of people's biggest financial commitments.

"Singaporeans look to you (the agencies) to provide sound and measured advice that best meets their needs. I think we all agree that while you do want to close the deal, you do not want your client to view you with suspicion that will compromise their interests in doing so," she said.

She reminded too that failure to maintain professionalism could also compromise the business' reputation.

Ms Indranee, who is also Minister in the Prime Minister's Office, reiterated that the government will continue to support the industry. This includes extending the qualifying period for the Productivity Solutions Grant and the Enterprise Development Grant to March 31, 2021. Announced at the 2021 Budget, these grants provide support of up to 80 per cent to grow and transform existing businesses.

Under the SMEs Go Digital programme, property agencies can also adopt pre-approved digital solutions with up to 80 per cent funding support, she added.

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As the conference was held just two days after International Women's Day, Ms Indranee also took the opportunity to congratulate the Real Estate Women Association (REWA) on its launch.

She said that this was timely, with 2021 declared in January as the "Year of Celebrating SG Women".

"The trend of females taking on more important roles in politics, and the economy at large, is an important one that not only unlocks a society's fullest economic potential, but it also recognises the contributions and roles women play," said Ms Indranee.

While Singapore has seen a roughly equal ratio of male to female real estate agents, she hopes that REWA will further drive professionalism in the sector by cultivating women to be industry leaders.

ERA said it would expand its presence in India as the organisation has recently been appointed as a consultant to a homegrown Indian real estate agency, HomeSFY. The agency currently has presence in four cities, namely Mumbai, Delhi, Pune and Bengal.

ERA also said it has pledged fundraising support towards The Business Times Budding Artists Fund's (BT BAF) Children for Children initiative, an annual community outreach event.