11 Oct '17, 4am

TIL “There are only 30,000 RE salespersons in Singapore...

Lower commissions, developers being less dependent on agents, and digital disruption are posing threats to Singapore agencies, says industry veteran. The property agency industry has been abuzz with recent mergers and how technology is disrupting the way agents do business. It started in June when PropNex Realty announced a merger with Dennis Wee Group (DWG) to form the largest agency in Singapore with close to 7,000 agents. Two more followed in August – OrangeTee and Edmund Tie and SLP and Scotia. The newly formed OrangeTee & Tie will comprise more than 4,000 agents, making it the third largest agency and pushing it ahead of Huttons Asia with over 3,000 agents. SLP Scotia will have a combined strength of 800 agents and will receive a cash injection of $3 million to grow the business. Francis Tan, executive director of SLP Scotia said: “We are seeing signs that the real es...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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