Singapore comes with experts who are focused on the property industry. Most of the time, these professionals would range from top-ranking jobs including estate agents and lawyers even to the very bottom. They may even work equally with that of professional carpenters who are in-charge in the production of a unique skyline. This is evident in Singapore these days.
The Various Property Experts in Singapore
There is a variety of professionals available in Singapore. As a matter of fact, they may be compared to a 13-story ‘condo’ building which is packed with carpenters who occupy the first floor, and then other professionals in the 3rd and 12th floors who are meant for agents. Upon looking at the real estate market in Singapore alone, there are almost 13 professional classes. What are these?
They are the first professional you will stumble upon in the real estate market in Singapore. Basically, they are considered to be qualified legal practitioners who are a part of the bar for they have graduated as such. They are also a member of the Justice Ministry. What do they do?
These lawyers have functions. They are in-charge in the reviewing and documenting of leases, purchases, appraisals, and inspections. They are also the one who assist in resolving insurance titles together with environmental issues. Lawyers also handle file and represent lawsuits in court and at the same time, they also assist borrowers and lenders who are in the foreclosure proceedings.
Usually, they are situated between sellers and buyers. They are also made up of licensing agents who are registered in CEA or the Council of Estate Agents. These people can also take charge of assisting people to sell or purchase real estate. This is how they normally work.
Any aspiring broker should realize that in becoming one, there is no longer a need for licensing procedures or special requirements. It would only take a matter of going for a training course so that you can become qualified as an Accredited Mortgage Consultant.
It is also a must for most mortgage brokers to be registered members of the Mortgage and Finance Association. This is another inclusion. With this, there will be a need to adhere to the Code of Practice which would always insist professionalism, dedication to work and ethical behavior so that borrowers are taken care of even more.
In order to operate, there is a need to be a part of the Monetary Authority of Singapore. This is a requirement for obtaining a license too. Bankers are unlikely to engage with their individual clients when it comes to real estate; however, they would surely prefer to negotiate with aggregators or licensed firms so that loans may be submitted eventually.
Aside from this, bankers would also provide funds to all the parties engaged in the business. This is beneficial for both contractors and developers.
These terms are crucial for anyone who thinks about selling and buying a property in Singapore. If you are one of them, it is never too late to study even more!