ERA Realty Network has announced a S$1 million startup grant to help offset joining fees for new real estate salespersons joining the industry. With the grant, new agents joining ERA pay a sum of S$100 for administrative and materials fees, instead of the usual amount of S$1,127. This covers the joining fees of S$563.50 per agent - comprising admin fee (S$53.50), registration fee (S$230), compulsory...
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Private equity firm Northstar Group, which has led a management buyout of the ERA Real Estate franchise here, said yesterday it aims to list the property brokerage on the Singapore Exchange within the next two to three years, moves that signal growing interest in the city’s real estate market. If successful, it would be the first listing by a real estate brokerage in the city, a spokesperson from the...
ERA Realty Network, the largest real estate agency in Singapore, has been sold to Indonesian private equity firm Northstar Group for over S$100 million, months after owner Harry Chua put it up for sale. According to media reports, the master franchise rights to the ERA name in Asia Pacific was sold for less than the S$150 million price tag that Chua's Hersing Corporation is said to have asked...
Hersing Corp is looking to sell its Asia-Pacific franchise for ERA Real Estate agency for up to S$200 million, according to a Dow Jones report citing sources with knowledge of the sales process. Hersing’s wholly-owned ERA Realty Network is Singapore’s largest real-estate agency with more than 4,800 salespeople. According to its website, Hersing also owns the master franchise rights for ERA Real...
For every property deal they close, their agencies would take a cut of their commission, and how much would depend on the productivity and seniority of the real estate agent. But some agents are getting around this commission system — prompting one agency to issue a “final warning” to all its agents on Tuesday. In an email, ERA said it had discovered that some agents under a “80/20 scheme” —...
ERA Realty Network is implementing a set of measures to improve transparency and accountability on the part of its agents. The move - the first of its kind in Singapore - comes on the heels of a court decision criticising the behaviour of two ERA agents for breach of duty and fraud. On Thursday, the High Court ordered ERA to pay S$257,000 to a couple who had engaged one of the agents to sell their...