Here’s How Much You Need to Start as a Property Agent in Singapore in 2023

Starting as a property agent is by no means an easy feat. You are your own boss and your income is directly an attribute to your results. The harsh reality of the real estate industry is the amount of marketing you’ve done for yourself.
More Marketing = More Lead = More Income

However, this amount can be quite vague and it’s one of the most confusing aspects for new agents just starting out. That’s why If you are looking to join the real estate industry but want to know what is the exact amount you need to start, how much to keep yourself afloat, and how much is needed to market your business.


What’s the Cost even Before Becoming an Agent?

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Before you can become qualified to be an agent, there are some upfront costs that you need to bear in mind.

Signing up to take the RES exam

If you need to take the real estate salesperson (RES) exam to qualify as an agent, the cost of taking the course and exam is:

RequirementsCosts
RES Course$700 to $800
RES Exam1st Attempt(2 paper): $417.30
Modular Re-Sitting(1 paper): $235.40
*NTUC members can get a $250 UTAP subsidy. Singaporeans and Permanent Residents can also use their SkillsFuture credit (up to $500) for the course. If you are looking to take the exam, please check your SkillsFuture credit and use it!


Registering under an Agency

Once you have completed the exam, you will need to register an agency of your choice. Do consider the various packages they provide, the workplace environment, the mentorship you might be getting, and the opportunity for growth in the particular agency.
(PS. We are from Huttons😉)

ActionsCost
Registration Fee for CEA$53.50 + $230
Professional Indemnity Insurance$120
Other miscellaneous costs(e.g. ID tags, training course, photo shoot)$300 to $500
For some of these fees, different agencies might absorb the cost for you to compensate for having you in their agency.

With all that, the total base cost(without subsidies) is $2,120.80. Don’t forget to spare some cost.

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