Merger of Century 21 with Neststac propels firm to fifth biggest agency

By
/ EdgeProp Singapore
|
June 14, 2019 2:25 PM SGT
Following a spate of mergers and acquisitions (M&A) over the past two years, the ranking of the four top agencies in Singapore has stabilised. Developers have even coined the acronym “HOPE” for them. In first position is PropNex with 7,887 agents as at June 11. The second biggest is ERA, with 6,843 agents. OrangeTee & Tie is in third place with 4,278 agents, followed by Huttons Asia with 3,047 agents.
There has been a reshuffle in the ranks of firms in the fifth to eighth spots in recent months. Century 21, for instance, was not even among the top 10 agencies at the start of the year.
Reeve Ho of Century 21 and Amanda Yap of Neststac, which became the latest franchisee of Century 21 Holdings Singapore in May, bringing along 158 agents to the fold (Credit: Samuel Isaac Chua/EdgeProp Singapore)
Global Alliance Property (GAP), a franchisee of Century 21, was then No. 8. Now, GAP has disappeared from the Top 10, while Century 21 and its franchisees combined have leapfrogged to fifth place with 751 agents (see tables below).
“However, there is quite a big gap between the four biggest agencies and the fifth biggest,” concedes Reeve Ho, CEO of Century 21 Singapore Holdings.

M&A of smaller firms

Century 21 has grown through a series of M&A with smaller firms that have since become its franchisees. These include REA Realty Network with 78 agents, PTO Property Services with 45, and Wild Wild West with 22. The latest firm to join Century 21 as a franchisee was Neststac on May 1. The brokerage firm headed by its CEO and key executive officer (KEO), Amanda Yap, has 158 agents. It specialises in marketing overseas projects, especially from Bangkok.
Founded in 2013, Neststac was originally known as Trump Property, renamed ShentonMore Property, then SMP Realty before its latest incarnation as Neststac. According to Yap, the name “Neststac” was coined as a combination of “nesting” and “stack”, which in property terms indicate the unit and facing.
The reason for the merger with Century 21 is the brand franchise and its international network, says Neststac’s Yap. Century 21 is said to be the world’s largest real estate franchise chain, with 8,800 offices in 64 countries and 122,000 agents. Established in the US in 1971, Century 21 is a...