Faced with a sluggish property market, fewer people are getting themselves licensed as real estate agents and more are leaving the industry, according to figures from the Council for Estate Agencies (CEA). As at Jan 1, there were 30,830 real estate salespersons, or agents, down from 31,783 the year before. Of the total, 3,006 were new entrants to the industry, down from 3,336 in the previous...
Property Agency
Teho International is moving deeper into the property sector. It announced on Thursday (Sep 25) that it had signed a non-binding letter of intent, to buy over ECG Group, a property development company, for S$17 million. Teho is a holding company mainly specialising in marine, offshore oil and gas. The proposed acquisition will allow Teho to expand its operations in the local and overseas property...
International real estate services firm JLL has bought a 20 per cent stake in home-grown PropNex International in a bid to grow its Singapore residential property business. PropNex International - the project marketing arm of PropNex - specialises in marketing new property developments. Its current projects include City Gate at Beach Road, Commonwealth Towers at Alexandra and Thomson Grand. JLL had...
Property agency PropNex has launched a new fund to invest in real estate at the development stage in a partnership with fund management company Infiniti Asset Management. PropNex says the new fund - Infiniti Real Estate Strategies Fund - is designed to co-invest with developers in land bids for both local and overseas projects. These include executive condominiums and commercial properties in...
With property transactions dampened by various cooling measures last year, some real estate agencies have said they are encouraging their agents to diversify their income stream. That means looking beyond local transactions and venturing into the overseas and rental markets as well. The Council for Estate Agencies (CEA) announced on Thursday that there was a 27 per cent fall in the number of new...
The Council for Estate Agencies (CEA) has said it has licensed 1,425 estate agents and registered 31,783 salespersons as at January 1. About 3,300 of the registered salespersons are new entrants to the industry last year, compared to about 4,500 in 2012. This represents a drop of about 27 per cent. Last year, CEA issued licences to 1,492 estate agents and registered 31,040...
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...
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...
Singapore’s real estate agency industry is set to become more competitive with the announcement that Colin Tan, widely considered Singapore’s top real estate sales trainer, will soon launch his own agency. Called District 65, the firm will comprise a team of highly trained sales agents who will undergo the ColinTan Training & Consultancy (CTTC) “Becoming a Million Dollar Realtor”...
Visible changes have been made over the last two years to improve the standard of real estate agencies, but more changes might be on the way, experts at a National Real Estate Congress said yesterday. The Council for Estate Agencies (CEA) was set up in October 2010 to enhance regulations for the industry, which has about 1,500 agencies and 32,000 licensed agents. The statutory board provides regulatory...