Paper 2 · Marketing & Advertising
Property Marketing: Listings & Advertising Rules (Singapore)
Marketing a property is regulated conduct, not a free-for-all. The exam tests listing types, the CEA advertising requirements, and co-broking — and ties back to the Code of Ethics.
Exclusive vs open listing
| Exclusive listing | Open listing | |
|---|---|---|
| Who markets | One appointed agency | Several agents at once |
| Agreement | Prescribed exclusive estate agency agreement | Less formal |
| For the seller | One accountable agent, focused effort | Wider exposure, less coordination |
CEA provides prescribed estate agency agreements that set out the terms, commission and duties — using them properly is part of professional conduct.
Advertising requirements
- Ads must be accurate and not misleading or exaggerated (no fake listings or false scarcity).
- Must identify the estate agency, its licence number, and the salesperson's name + CEA registration number.
- No advertising a property without the owner's authority.
Co-broking
Co-broking — a salesperson from one agency working with a salesperson from another to close a deal (each representing one side) — is allowed and common, but must be properly disclosed and the commission arrangement handled transparently. (It is not dual representation — see that page.)
The trap
Exaggerated/false ads, missing the salesperson reg number or agency licence number, advertising without the owner's authority, or co-broking without disclosure — all are conduct breaches, not just bad style, and can draw CEA disciplinary action.
Exam takeaway
Treat every listing & ad as a regulated act: right listing type + prescribed agreement, truthful and properly identified (agency + reg numbers), owner's authority, and transparent co-broking.
Common questions
- What is the difference between an exclusive and an open listing?
- Under an exclusive listing, a single agency is appointed to market the property; under an open listing, multiple agents may market it at the same time.
- What must a property advertisement include in Singapore?
- It must be accurate and not misleading, and identify the estate agency and the salesperson's CEA registration number, in line with CEA's advertising requirements.
Keep learning
Study material aligned to the public CEA syllabus. Not financial or legal advice — verify current figures with the relevant authority (IRAS, HDB, CEA, MAS).