Real Estate Transformation Map

Council for Estate Agencies will certainly collaborate with the real estate sector to release as well as real estate agents scores, with the aim focused on enhancing transparency and openness in the industry. This strategy is common in various other markets such as friendliness as well as food and also drink (F&B), where customers count on portals like TripAdvisor to determine which resort or dining establishment to explore.


The Industry Transformation Map (ITM) recognized the facilities administration and also real estate sectors as having “enormous potential for improvement”, specifically in the implementation of using technology.

Vendors as well as buyers could quickly watch property deals nearby property representatives, beginning with public real estate deals by this year.

The creative use innovation and also information analytics could open several opportunities for the effective administration of centers as well as structures. Much more effective systems indicate reduced life time cost.

A key area of emphasis will certainly be to enhance the implementation of smart solutions to boost the effectiveness of building procedures. Professionals will certainly likewise be urged to create and also build structures with centers monitoring in mind, with maintainability of structures a vital factor to consider in the first preparation as well as design stage.

This consists of a cloud-based device enabling the remote monitoring, evaluation as well as optimization of building efficiency, an estate tracking system making use of video clip analytics, in addition to an automated operations system.

To develop the pool in facilities monitoring, BCA will certainly deal with institutes of greater learning (IHLs) as well as organizations to upgrade the educational program as well as assess supplied by IHLs, in addition to reinforce the continuing education and training (CET) framework.




Improving Property Transactions Related Services

The government has actually taken the initial step by improving the resale purchase procedure for public real estate with the launch of the HDB Resale Website last month, follow by private property transactions. To do so, a workgroup headed by CEA will assist to direct the sector in the right direction.

If well designed, real estate transactions could be well automated, reducing the use of paper works like cheques and cashier orders, which often are time consuming.

The government would certainly continuously monitor carefully with the market as information of the roadmap’s efforts are settled as well as considerably turned out to promote openness and transparency, making residential or commercial property purchase solutions much more straightforward and also effective by leveraging on innovation.

To gear up real estate agents to be future-ready, a SkillsFuture for Digital workplace program has been implemented. CEA’s Continuing professional development framework for representatives will certainly likewise be overhauled too to ensure property agents are always up to date with latest changes in the industry.