Are you enthusiastic about the real estate industry? Do you have an interest in entering the real estate industry? Do you have an interest in finding out how you may become a part of the fascinating and profitable real estate agent industry? You don’t need to look any farther since we’ve compiled a detailed guide to assist you in achieving your goals of being a successful real estate agent. Continue reading if you want to get a head start on your real estate adventure.
Courses and Tests for the Real Estate Salesperson (RES) Certification
You are required to take a number of Real Estate Salesperson (RES) courses prior to taking your final RES examinations in order to become eligible for a real estate agent’s license and ID tag. These courses must be completed in order. This is a required course for prospective real estate agents, and everyone who wants to become an agent must take it. You should plan on spending between $700 and $800 if you take your RES training from a reputable supplier. Members of NTUC under the age of 40 are eligible to receive up to $250 in UTAP subsidies and an additional $500 in assistance for RES courses and examinations. In addition, Singapore citizens and permanent residents who are at least 25 years old are eligible to get SkillsFuture credits worth up to $500. In most cases, the price of two RES test papers, which includes GST, comes out to a total of $417.30. This will go up to a total of $235.40 (GST included) each test paper for those who are retaking the exam.
After Completing All of the RES Courses and Exams
After passing the required examinations, you will need to pay a fee in order to register with a licensed real estate business. There are several incentives for recruiting offered on a regular basis to new agents. But make sure you don’t do the beginner error of giving in to temptation too easily! Free stuff will never be able to match with having a knowledgeable and experienced RES mentor, which is exactly what you should search for. You need to make sure that your budget includes at least some of the following costs: Registration costs for real estate salespeople are $53.50 plus $230 each year for CEA, for a total of $283.50. Prices for professional indemnity insurance range from $120 to $150 per year.
What is the Real Estate Salesperson Course about?
You are required to successfully finish the RES course in order to become a licenced real estate agent. This course was first established in 2010 and is now provided by CEA-approved course providers.
These courses provide you with the opportunity to learn and comprehend the governing rules and policies surrounding Property Agent Course agency work in Singapore, basic land law concepts, as well as real estate laws in general, such as Singapore’s laws and regulations for the buying, selling, and renting of HDB flats, private apartments, condominiums, commercial business spaces, industrial properties, and other similar types of real estate.
Do not be deceived, though, since this is not only a straightforward one-time class: RES courses offer such a broad spectrum of real estate-related subjects that even seasoned real estate agents who have been in the industry for more than ten years struggle to recall all of the information in its entirety.
The following is a list of the prerequisites that must be met before you can proceed with the RES course:
Must be a citizen or permanent resident of Singapore and be at least 21 years old.
Minimum of 4 GCE ‘O’ level passes or equivalent (WPLN)
Satisfies the CEA’s standards for being appropriate and suitable
When is the RES test going to take place?
Congrats! After having successfully finished the RES training… what do you do?
The moment has come for you to take the RES examination that has been designated for you by the CEA at the NTUC LearningHub Pte Ltd testing centre.
The first one of these normally takes place in either February or March, the second in June, and the third in October of each year. You are required to get a passing score on both of the RES test papers in order to obtain a real estate licence.
As RES tests are often oversubscribed to, you should ensure that you are up to speed with the registration procedure and all of the administrative work that you’ll need to complete. Registration for RES exams closes one to two months before the exam itself, so you should start preparing early.
You won’t want to squander any time, so we strongly suggest that you join up as soon as you possibly can.
To be eligible to take the RES tests, do I need to meet any prerequisites?
Lastly, and maybe most crucially, double check that you have successfully finished the RES course with a minimum attendance requirement of 75%. \
Trying to get your hands on that Certificate of Completion for RES Course but having no luck? We know you are, so check to see that you have attended the appropriate number of lessons in preparation for the big day. You do not want to be let down.
What kind of structure does the test have?
You will be required to take two separate examinations, each of which will run for a duration of 2.5 hours. The following is information pertaining to both Paper 1 and Paper 2:
Section A consists of fifty multiple-choice questions (MCQs), and each question is worth one mark.
15 multiple choice questions with references to either one or two case studies, each worth two points. Section B.
In Section C, there are ten short answer questions (SAQs) that require you to fill in the blanks. Each question is worth two marks.
When will I find out the results of my examination?
Congratulations to all of the newest agents on successfully gaining their credentials and taking the first step toward beginning this fascinating new profession!
About four to six weeks following the exam, the administrator of the test will get in touch with you to let you know how you did.
Remember to take and pass your REC test within two years of the date that your completion certificate was issued, or you run the danger of losing your position as a certified property agent. Now that you finally have your completion certificate, congratulations!
In the event that you are unable to pass any further papers within the allotted time frame of two years, you will be required to repeat the RES course and pass the whole RES test once again. This means that you will need to redo Papers 1 and 2.
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