Man fined $ 72,000 for performing real estate agency work without CEA registration, Courts & Crime News & Top Stories
SINGAPORE – A man has been fined $ 72,000 for performing real estate agency work without being registered as a real estate agent with the Council for Estate Agencies (CEA).
Lim Ruiwen, 31, was found guilty by a court on Wednesday (April 3) of nine counts.
He was fined a total of $ 72,000, CEA said in a statement on Wednesday. If Lim does not pay the fine, he will be jailed for 27 weeks.
He had published nine apartment rental ads from the Régie du logement and private properties on public online real estate portals between January and March 2017, although he was not registered with the CEA.
Under the Real Estate Agents Act it is an offense for entities and / or individuals to act or represent themselves as real estate agents and / or sellers in any real estate transaction if they are not licensed or registered. with the CEA.
Lim acted as a seller for Global Alliance Property Pte Ltd without being registered.
He had been a real estate agent since January 2011 and worked for Global Alliance between January 1, 2016 and December 31, 2016.
Lim’s registration expired after December 31, 2016, as he did not submit an application to CEA through a real estate agency to renew his registration as a real estate agent for 2017.
He was also made redundant by Global Alliance at the end of 2016, the CEA said.
The ads that Lim posted included his name, photograph, cell phone number, old CEA registration number, as well as Global Alliance’s name and CEA license.
The court also considered 43 other similar charges in sentencing.
He had posted 43 ads on other public real estate portals to advertise the rental of other HDB apartments and private properties.
Each offense is punishable by a fine of up to $ 25,000, up to 12 months in prison, or both.
The CEA on Wednesday advised consumers to only hire licensed and registered real estate agencies or agents to help them with their real estate transactions.
They can check it via the public register on the CEA website.
If they come across someone doing unlicensed and unregistered real estate agency work, they should report it to CEA by calling 1-800-643-2555 or emailing [email protected]