Tag Archives: property agencies

2018 Licensing and registration exercise for property agencies and agents

The Council for Estate Agencies (CEA) has issued a media release today on the 2018 licensing and registration exercise for property agencies and agents.

As at 1 January 2018, there were 1,269 licensed property agencies and 28,571 registered property agents.

The number of licensed property agencies and registered property agents as at 1 January over the last three years is shown below:

As at

1 Jan 2016

As at

1 Jan 2017

As at
1 Jan 2018
Number of property agents 29,262 28,397 28,571
Number of property agencies 1,369 1,286 1,269

The Council for Estate Agencies (CEA) issued 66 new property agency licences and 1,344 new property agent registrations throughout 2017. A total of 44 property agency licences and 2,028 property agent registrations lapsed after 31 December 2017.

Size of property agencies by number of agents as at 1 Jan 2018

Size of property agency

Number of property agencies

>500 agents

7

51-500 agents

18

31-50 agents

14

11-30 agents

64

1-10 agents

1,166

 

10 largest property agencies by size, as at 1 Jan 2018

Property agency

Number of property agents

PropNex Realty Pte Ltd

6,684

ERA Realty Network Pte Ltd

5,882

OrangeTee & Tie Pte Ltd

3,898

Huttons Asia Pte Ltd

3,207

KF Property Network Pte Ltd

689

SLP Scotia Pte Ltd

585

Savills Residential Pte Ltd

543

Global Alliance Property Pte Ltd

457

HSR International Realtors Pte Ltd

377

C & H Properties Pte Ltd

328

Source : CEA

Advertisements

Profit slump for some agencies

The profits of some of Singapore’s biggest property agencies have nose-dived by as much as 20 to 50 percent due to weak transaction volumes in the private housing market following several rounds of cooling measures, according to media reports.

As a result, more than half of Singapore’s 1,425 registered agencies could suffer losses, revealed some top names at these agencies. Moreover, many of their agents failed to clinch any sales, or became inactive last year.

“I would not be surprised that many small and mid-size agencies and even the larger agencies, if they are not nimble enough, will face challenges and many will end up in losses,” said PropNex CEO Mohamed Ismail.

Although the firm’s sales in the residential market only declined by three percent this year, profits saw a larger drop of 20 percent as overall transaction value fell alongside property prices.

ERA Realty’s Chief Executive Jack Chua also admitted that profits of major agencies have fallen by 20 to 50 percent.

In 2013, net profit for its agency business ERA Realty Network slumped by 43.5 percent to $10.4 million given the 12 percent drop in sales, based on filings submitted to the Accounting and Corporate Regulatory Authority (ACRA).

As for HSR, it suffered a net loss of $5.42 million in 2013 from a net profit of $3.45 million in the previous year, according to documents submitted to the regulatory watchdog.

However, the situation could get worse. Developers’ sales, which make up about 66 percent of all private non-landed transactions, declined to 4,409 units in H1 2014. This means the year-end total will be a far cry from the 14,948 units seen last year and the 22,197 units in 2012.

Records from the Council for Estate Agencies (CEA) shows 67 licensed property agencies closed their doors last year with 1,425 agencies still remaining as of 1 January 2014.