Tougher rules for realtors to impact their ranks

2013-3-12

From:Macau Business

The fallout from rules designed to raise professional standards among the city’s 8,000 real estate agents could see up to 40 percent of their number quit within three years.

Vincent Ip Kin Wa, director of the Macau General Association of Real Estate, has made the prediction, Macau Business reports in our March issue.

The new rules were approved by the Legislative Assembly in October and are set to be enacted in July.

They will establish a minimum education level and introduce a licensing system for real estate agents.

Previously, anyone was able to join the trade and there were no certification or registration requirements.

The Macau General Association of Real Estate opposes the new standards, particularly the accreditation scheme. It claims agents will walk away from the industry altogether.

The association represents about 600 real estate companies out of the estimated 2,000 in Macau.

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