CEA slaps $30,000 fine, 12 months' suspension on property agent for faking offers to get bigger commission

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SINGAPORE – A property agent has been fined $30,000 and suspended for 12 months for faking offers and counteroffers in a private property transaction in a bid to get a bigger commission for himself at the expense of his client.

It is the highest sentence meted out so far to a property agent by the Council for Estate Agencies (CEA), the statutory board that regulates the real estate agency industry.

In a statement on Monday (Oct 21), the CEA said Ngu Ping Chuan James Ethan of PropNex Realty behaved unprofessionally and unethically while facilitating the purchase of a condominium unit in the eastern part of Singapore between 2016 and 2017.

The 39-year-old failed to represent his client’s best interest and instead prioritised his own profit from commissions, the CEA said.

“Ngu’s wrongful conduct caused his client to suffer a loss or disadvantage of about $20,000 to $30,000.”

In 2016, Ngu was engaged by a client to look for a condominium unit in the eastern part of Singapore that is more than 800 sq ft in size with a selling price of about $900,000.

They viewed a unit in March 2017 that had a price tag of $1.04 million.

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