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Can property agents take up other forms of part-time employment or freelance positions?

· Thinking of Selling

Property Agents

Part Time or Full Time

Property agents are expected to provide unbiased advice to their clients transacting in property. However, agents may be placed in a conflict-of-interest situation if they were to receive monetary gains by offering moneylending or financial advisory services in a property transaction. Under such circumstances, property agents may be perceived as being unable to fulfil their obligations to their property clients objectively.

This is why the Estate Agents Act prohibits an individual who holds a moneylender’s licence, or is an employee, director, or partner of a person who holds a moneylender’s licence, from running a property agency or practising as a property agent.

The same applies for financial advisers, whereby the Financial Advisers Act states that they are not allowed to be involved in running a property agency business, or act or hold themselves out as a property agent representing a property agency.

Apart from these two restrictions, if you are currently a property agent and are considering another role, do check with your property agency or refer to the terms and conditions in the associate agreement that you have signed with your property agency.

Your agency may have guidelines on whether associates can take on paid positions elsewhere, and you may be required to inform your agency of these arrangements, regardless if these other roles are on a part-time or freelance basis.

Similarly, if you are already holding a job and are considering being a part-time property agent, do check if your employment contract with your company allows you to be involved in other forms of paid work.

Depending on your company’s policy, you may need to inform your employer of your plans and seek your company’s support before registering via a property agency to become an agent. 

Property agents are expected to provide unbiased advice to their clients transacting in property. However, agents may be placed in a conflict-of-interest situation if they were to receive monetary gains by offering moneylending or financial advisory services in a property transaction. Under such circumstances, property agents may be perceived as being unable to fulfil their obligations to their property clients objectively.

This is why the Estate Agents Act prohibits an individual who holds a moneylender’s licence, or is an employee, director, or partner of a person who holds a moneylender’s licence, from running a property agency or practising as a property agent.

The same applies for financial advisers, whereby the Financial Advisers Act states that they are not allowed to be involved in running a property agency business, or act or hold themselves out as a property agent representing a property agency.

Apart from these two restrictions, if you are currently a property agent and are considering another role, do check with your property agency or refer to the terms and conditions in the associate agreement that you have signed with your property agency.

Your agency may have guidelines on whether associates can take on paid positions elsewhere, and you may be required to inform your agency of these arrangements, regardless if these other roles are on a part-time or freelance basis.

Similarly, if you are already holding a job and are considering being a part-time property agent, do check if your employment contract with your company allows you to be involved in other forms of paid work.

Depending on your company’s policy, you may need to inform your employer of your plans and seek your company’s support before registering via a property agency to become an agent.

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