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RES exam question on Marketing & Advertising: Serene, a salesperson, has been asked by her agency to market units in a London…

HardReal Estate Marketing & Advertising Rules · Paper 2

Serene, a salesperson, has been asked by her agency to market units in a London mixed-use project to Singapore buyers on behalf of the developer. Her agency holds a CEA licence and is still completing its due diligence on the developer. Which of the following statements is/are correct? (i) Serene may start marketing the project only after her agency approves her and she completes project-specific training. (ii) Serene needs a separate foreign property marketing licence from CEA, as the project is outside Singapore. (iii) Since Serene acts for the developer, she may not also represent a buyer of a unit in this project. (iv) The agency must give buyers a written advisory on the risks before they pay anything to reserve a unit.

  1. A(i), (iii) and (iv) only
  2. B(i), (ii) and (iii) only
  3. C(iii) and (iv) only
  4. D(i), (ii), (iii) and (iv)
Show answer & explanation

Answer

A. (i), (iii) and (iv) only

Explanation

Answer: (i), (iii) and (iv) only. The ordinary licence and registration cover foreign property marketing, so no separate licence exists.(i) True. A salesperson must have the agency's approval and project-specific training before marketing a foreign property.(iii) True. The agency and salesperson acting for the vendor cannot represent consumers in the same transaction.(iv) True. The agency must give a written advisory on the risks before the consumer commits, such as before any payment to purchase or reserve.Rule: Foreign property marketing from Singapore falls under the ordinary licence and registration. It needs agency approval and project training first, no representation of buyers by the vendor's side, and a written risk advisory before the consumer commits.Source: Estate Agents Act 2010; CEA Practice Guidelines on the Marketing of Foreign Properties, in force 24 Mar 2023, paras 3, 11, 13, 16, 26 and 27

Why the other options are wrong

  • (ii) False. No such licence exists. The Estate Agents Act 2010 applies to estate agency work done in Singapore for property in or outside Singapore, so the ordinary licence and registration apply.

Study the concept behind this question: Property Marketing: Listings & Advertising Rules (Singapore)

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