Singapore abounds with experts in the field of property. These professionals range from top-tier jobs like estate agents and lawyers to lower-tier but equally professional carpenters, working together to produce a unique skyline for Singapore.
The different real estate experts in Singapore
The availability and variety of professionals in Singapore can be compared to a 13-story ‘condo’ building with carpenters occupying the first floor, other professionals on floors 3 and 12, and the upper level occupied by agents. There are approximately 13 professional classes in the Singapore real estate market.
officers
The agent is the intermediary between sellers and buyers.
Agents are now licensed by the Council of Realtors or CEA.
A real estate agent is a person who helps people sell or buy real estate.
Lawyers
An attorney is a qualified legal professional who becomes a member of the bar upon graduation and acceptance. A lawyer must register with the Ministry of Justice.
Functions:
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Document and review purchases, leases, inspections and appraisals.
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Assist in the resolution of insurance titles and environmental issues.
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Present and represent lawsuits in court in case of disagreement during real estate transactions.
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Assist lenders and borrowers in foreclosure proceedings.
mortgage brokers
There are no special requirements or licensing procedures, but an aspiring broker must complete a training course to qualify as a Certified Mortgage Consultant.
All mortgage brokers must be registered members of the Mortgage and Finance Association.
All registered brokers must adhere to an industry Code of Practice that stresses professionalism, ethical behavior and dedication to working in the best interests of borrowers.
architect
In Singapore, as in other countries, the architect is an important figure in the pre-construction phase of a real estate project because:
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Provide expert advice on building designs and drawings.
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Offer suggestions on the most suitable contractors for the job.
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Develop distribution plans for real estate buildings.
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Inspects and supervises construction work.
banking
A banker must register and obtain a license to operate from the Monetary Authority of Singapore.
Bankers typically do not interact with individual clients when it comes to real estate, preferring to deal with licensed firms or aggregators who deal with mortgage brokers and submit loans through aggregators.
Bankers provide funds to all parties involved in the purchase of real estate and also to property developers and contractors.
Surveyor
The Singapore Institute of Surveyors and Appraisers represents local surveyors, appraisers, property managers, real estate consultants and real estate agents at a professional level.
To the surveyor:
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Conducts or supervises inspection operations.
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Make calculations of the survey data.
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Analyzes the data and produces the final production map, plans or graphs
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Offers recommendations for changes.
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He acts as a consultant advising his clients on the best choice of survey schedules, logistics, methods, instrumentation, costs and other aspects of the project.
Inspector
An inspector can obtain an operating license from the Ministry of Manpower.
An inspector:
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Carry out inspections of the structural, mechanical and electrical conditions of the properties
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It provides information to the real estate agent or buyer on how to identify the most obvious major flaws that may exist in a given house, building or structure.
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An inspection does not make it easy to detect all faults, problems, or faults that may exist in a given home.
validation surveyor
The validating surveyor must have a license from the Land Authority of Singapore.
The validation inspector:
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Acts as an accountant for structural engineers, mechanical and electrical engineers, and other expert consultants.
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Help customers get value for money
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Evaluate or appraise interest of a specific nature in real estate at any time
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The assessment is based on correct market evidence.
Contractor
In Singapore, the licensing authority for a contractor is the Land Authority of Singapore.
In real estate, a contractor:
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It is a person or company that has won a contract to participate in the construction of a structure for a client
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Take part in the real construction work
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Work with the surveyor and architect to build and complete the project.
developer
A developer in Singapore has to be registered with the Singapore Land Authority.
The developer:
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It is a person or company that buys land to build a structure on it.
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You must develop a housing project with more than 4 units
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Needs of available real estate sources
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Negotiate funds for the execution of a project
Financial Advisor
All licenses related to financial services are controlled by the Monetary Authority of Singapore.
A financial adviser tries to help clients use their monetary resources in the most efficient way.
counter
An accountant is a financial expert whose services are also essential in real estate transactions.
An accountant:
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Possesses the right knowledge when making business decisions about real estate
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It has the ability to assess tax impacts, which is key to the success of a transaction.
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Spend a good part of your time studying, researching, thinking and applying systems, financial measures and tax planning for investors.
Carpenter
A carpenter in Singapore is usually hired by the contractor and is usually licensed to carry out the actual construction work on a project. The Carpenter:
Build under the advice and supervision of the architect and contractor.
property manager
A property manager is a qualified expert who is employed by the owners of real estate.
Generally, the property manager:
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Oversees real estate investment on behalf of the owners
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Document and screen potential tenants to occupy rentals
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Collect the rents paid by the occupants of the rental premises
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Negotiates rental contracts and conditions on behalf of owners.
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Arranges for proper maintenance work on the owner’s premises, such as cleaning, plumbing, and electrical systems.