An estate agent is a person who deals in real property on behalf of another. He is also one who acts “in connection with the acquisition or disposal of any land, or other premises, brings together or takes steps to bring together the person wishing to dispose thereof and a person prepared to acquire it, or undertakes to do either of those things, or in the case of a proposed transaction including both sale and letting, negotiates or undertakes to negotiate as to the terms on behalf of either party”.

The practice of agency is often carried out by an individual or a firm which employs a number of estate agents. Agency has become a distinct and established practice in Singapore. While there are professional bodies such as Singapore Institute of Surveyors and Valuers (SISV) and among others which exercise control on the practice and conduct of their members who practise as estate agents, there is at present no proper system of accreditation for practising estate agents. The increasing number of property transactions arising from a growing economy and the effects of globalisation have inevitably raised the issues of control and regulation of those who perform as estate agents.

The regulation of entry into and conduct within an occupation is an accepted aspect of business and professional activity. With the building of HDB flats, condominiums and other forms of real estate developments, there is an apparent need to ensure a proper standard of practice and conduct in the agency industry and to reduce any deficiency. Accreditation is a process established by a professional organisation or agency to enable a discipline to be recognised as having met certain prescribed standards. The process entails the following criteria: establishment of standards, development of evaluative criteria, monitoring of performance, and enforcement of standards.