Apac Realty’s ERA losing agents to PropNex: media report

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OF THE more than 700 Real Estate Salespersons (RES) who left ERA in year 2022, at least 640 continued their Propery Agent Career at PropNex Realty, according to the Straits Times report quoting data from Huttons Asia. In contrast, only 209 agents left PropNex fo ERA.

Most property agents switch agencies during Council for Estate Agencies’ (CEA) annual RES registration renewal exercise, which is conducted from Oct 1 to Nov 30.

PropNex Realty resumes as the leading agency in Singapore, boasting more than 12,060 salespersons as at Wednesday (23 Nov 2022), as compared to 10,761 as at Jan 1, 2022, according to CEA data. On the other hand, ERA Realty currently has close to 8,500 property agents. Summing up the top 5 agencies by number of RES are Huttons Asia, with some 4,700 RES; OrangeTee & Tie, with around 3,220; and SRI, with more than 1,230.

On 9 Nov 2022, PropNex announced a net profit of S$17.6 million in Q3 2022, recording a 21.9% increase from S$14.4 million in the same period a year ago, on the basis of higher commissions earned by all who trusted the firm for their property agent careers. Its revenue increased 10.2% over the same timeframe to S$258.4 million.

Source: https://www.businesstimes.com.sg/companies-markets/apac-realtys-era-losing-agents-propnex-media-report

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