What comes first to your mind when you hear the term “5A”? Excellent results in a public examination? Top-graded beef you crave for? Or anything related to quality? Earlier, you may have seen some outdoor advertisements showing a cartoon estate agent on buses, bus shelters, trams and even online platforms. This cartoon is in fact our “spokesperson” for a “5A” estate agent.
This is a publicity campaign launched by the EAA to promote the important “5A” qualities that a professional licensed estate agent should possess, and which consumers should focus on when choosing an estate agent to appoint.
The “5A” qualities mentioned in the campaign are literally five qualities which start with the letter “A”, namely “Adherence”, “Ability”, “Accountability”, “Advancement” and “Affinity”. These are the essential qualities that estate agents should possess in order to deliver a professional service to their clients. Let me explain each “A”: first, according to the Code of Ethics promoted by the EAA, an estate agent shall provide services to clients with honesty, fidelity and integrity, which are referring to “Adherence” in the “5A” qualities.
Secondly, the “Ability” of estate agents means that they should have a good understanding of all related legislation and requirements so that they can advise their clients in a responsible manner. They should be able to provide professional services and opinions based on their knowledge, training, qualifications and experience in the real estate business. Estate agents should also possess the quality of “Accountability”, which means they are accountable to their clients; and should protect their clients against fraud, misrepresentation or any unethical practices in connection with property transactions.
As to “Advancement”, it is about being well equipped to deal with the times. You may see that the cartoon estate agent in our campaign is wearing an EAA premium CPD attainment symbol on his jacket. As well as attending Continuing Professional Development activities, estate agents should also keep abreast of the latest trends and development of any laws, government regulations, essential facts and developments in the real estate market.
Lastly, having “Affinity” with their clients means not only that estate agents should accompany their clients to property inspections, they should also fulfil their duties and exercise due care and due diligence, so as to protect and promote their clients’ interests.
The abovementioned “5A” qualities provide guidance for the public to understand the professional characteristics of licensed estate agents. When considering appointing an estate agent to deal with a property transaction, consumers are strongly advised to select an estate agent with such professional qualities, in order to receive quality service and for the better protection of their rights and interests.
Chief Executive Officer
Estate Agents Authority