Concern in Singapore after leaked emails show real estate agents using unethical pressure tactics

A row has broken out in Singapore over the regulation of real estate agents after a series of leaked emails apparently suggest some have been putting pressure on sellers.
 
With the property sector showing signs of a slowdown concerns have been raised over scare tactics revealed in the emails. They suggest real estate agents have been trying to badger clients into selling at a lower price.
 
The emails appear to be correspondence between agents of real estate firm ERA.
In one email, a senior division director drew attention to a news report on land released for private homes. He called on agents to use the news as ‘a bargaining point to lower down your private residential seller’s high expectations’.
 
In another a real estate agent claimed that a deal was closed after telling the client that the ‘market is going to crash’, cashing in on fears that the government is selling too much land and the economic crisis in Europe could impact on Asia.
 
Industry observers said the gap in expectations between buyers and sellers is widening due to mixed sentiments in the market but the economy in Singapore is strong and interest rates low. Also the number of domestic buyers is increasing, suggesting more confidence in the market.

Source:www.propertywire.com