PRC Student in Singapore Earns Over S$10,000 as a Real Estate Agent, Gets Arrested and Fined

Posted on Feb 29 2016 - 8:24pm by Redwire Singapore

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Hardworking, driven, and entrepreneurial.

Unfortunately for one student from China who came to Singapore to study, his antics ran afoul of the law.

From January to July last year, 22-year-old Zhang made S$10,100 just by helping people find places to rent.

He would trawl forums to find out who needed a place where, and would further scour the web to check if these places were available for rent.

Then, he would connect landlord and client, and from that earn a commission – half of the first month’s rental fee per deal.

One client said that Zhang contacted him onling, offering a place to rent in an area which he was looking at.

He said that Zhang didn’t arouse suspicion as he had even gave him a name card later on.

He subsequently rented the apartment for S$2650 a month, and paid Zhang a commission of S$1200.

The entreprenueurial teenager’s money-making ways were over though, when he was outed by the Council for Estate Agents.

For posing as a real estate agent, he was fined S$40,000 by the courts in Singapore.

So it appears that the problem wasn’t that Zhang did his job well, but rather, he did it without a proper licence.

 

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