The SSIC 68103 classification pertains to letting of self-owned or leased real estate property except food courts, coffee shops and canteens (e.g. office/exhibition space, shopping mall, self-storage facilities). This official code is mandatory when registering a business entity with ACRA (Accounting and Corporate Regulatory Authority) in Singapore.

Key Characteristics:

Compliance with the Estate Agents Act (Cap. 95A) and its regulations, including licensing requirements for estate agents and salespersons.
Common business structures include sole proprietorships, partnerships, and private limited companies (Pte Ltd) registered with ACRA.
Frequent regulatory requirements involve maintaining proper records of transactions, adhering to anti-money laundering (AML) regulations under the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act (CDSA), and complying with the Personal Data Protection Act (PDPA).

Common Business Operations

Real estate agencies and valuation services, including property management, sales, and leasing, but excluding property development.

Activities include marketing properties for sale or lease, representing clients in property transactions, conducting property valuations, and managing residential or commercial properties on behalf of owners.

Examples include ERA Realty Network Pte Ltd, PropNex Realty Pte Ltd, and Huttons Asia Pte Ltd, which provide a range of real estate agency services.

Industry practices often involve leveraging online property portals like PropertyGuru and 99.co, and participating in industry events organized by the Council for Estate Agencies (CEA) to stay updated on regulations and market trends.