SINGAPORE - A man has been fined $72,000 for conducting estate agency work without being registered as a property agent with the Council for Estate Agencies .He was fined a total of $72,000, CEA said in a release on Wednesday. If Lim fails to pay the fine, he will be jailed for 27 weeks.
Under the Estate Agents Act, it is an offence for entities and/or individuals to act or hold out as estate agents and/or sales people in any property transaction if they are not licensed or registered with the CEA.He had been a former property agent from January 2011, and was with Global Alliance between Jan 1, 2016 and Dec 31, 2016.
Source: Real Estate Daily Report (realestatedailyreport.net)
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