Under the new regulatory regime administered by the Council for Estate Agencies, the estate agency must appoint a key executive officer (KEO) who is responsible for the overall management of the business and supervision of all its salespersons.
As stipulated under the Estate Agents Act 2010, the KEO has to satisfy enhanced licensing conditions including passing the CEA’s Real Estate Agency (REA) examination or have equivalent qualification. The KEO must also demonstrate to the Council for Estate Agencies (CEA) that he has put in place the proper policies and procedures for the management of the business. These are stipulated in the Code of Practice under the Estate Agents (Estate Agency Work) Regulations 2010. All practising company directors and partners are also required to pass the CEA’s Real Estate Agency (REA) examination.
The REA syllabus is prepared in the context of laws in Singapore governing real estate agency and related work and shall focus on sale and lease transactions involving private residential, HDB, commercial and industrial properties located in Singapore.
The syllabus does not include laws or regulations of other countries governing transactions of foreign properties and real estate agents are advised to be familiar of such laws or regulations when advising their clients in foreign properties transactions.
RES Exam Format
Important Notice to RES Examination Candidates
The RES examination schedule for Paper 1 and 2 has been revised, starting from May 2013 RES Exam.
Paper 1 which used to held on Saturday will be rescheduled to Sunday, starting from May 2013 RES Examination.
Paper 2 which used to held on Sunday will be rescheduled to Saturday, starting from May 2013 RES Examination.
For the upcoming May 2013 RES examination, the revised dates are 18 May 2013 (Saturday) for Paper 2 and 19 May 2013 (Sunday) for Paper 1. The examination timing remains unchanged. For more information on the RES examination schedule, please refer to our exam administrator website at http://www.ntuclearninghub.com/res-exam.
Starting from May 2013, the RES Examination Format will include a new Case Study Section in both Paper 1 and 2 in the form of multiple choice questions. The objective of the Case Study Section is to test candidates' knowledge in a practice-oriented context. Candidates may refer to CEA's website for more details on the new exam format.
Our RES Volume 2 (100 questions) is our recommended pick - of course, if you have time, you should revise all the exams we have to offer, but if you have to choose one of the volumes, RES Volume 2 is the best as it contains a high percentage of scenario questions. Challenging!!! (Priced at $10.99)
Our RES Volume 3 (100 questions) contains several RES-related calculation and "number-facts" questions, as well as questions related to terminologies. While it covers both Paper I and II, we think that Volume 3 seems to be more geared towards Paper I. (Priced at $10.99)