When I first read the article “Unlicensed property agent faces charges” that talked about someone selling overseas property without a license from CEA, I wasn’t at all surprised.
The usual mode of operation would be to hold a property seminar preview (promoting via advertisements on the Straits Times), sell a property investment course and then in some cases, offer property investment opportunities to the participants.
Even as far back as the year 2008, I had already wrote an article on a particular property investment seminar.
Currently, there are many more parties doing this and I don’t believe that all of them are licensed with CEA.
Some operate it more like a seminar business with the referral fee from developers as an additional income.
My business associate Wilfred Ling also had his letter published in the Straits Times Forum today on the proposed regulation of investment seminars – Regulate Investment Seminars.
There has been no news on that so far.