Number of property agents on the rise, says CEA

By
/ EdgeProp
|
January 4, 2018 6:16 PM SGT
On Jan 4, the Council for Estate Agencies (CEA) – the statutory board that regulates Singapore’s real estate industry – announced that the number of registered property agents increased to 28,571 as at Jan 1, 2018, up slightly from 28,397 last year. This marks an increase of 174 agents.
“The increase in the number of registered agents could be due to positive sentiment in the real estate market,” says Chia I-Ling, director of policy & licensing at CEA. On the other hand, owing to consolidation of agencies in the past year, the number of licensed agencies fell y-o-y from 1,286 to 1,269.
The largest agency as at Jan 1, is PropNex Realty with 6,684 agents. PropNex merged with Dennis Wee Group (DWG) last June. Meanwhile, OrangeTee & Tie – formed from the merger of associate teams at OrangeTee and Edmund Tie & Company (ET&Co) last August, ranks third with 3,898 agents.
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(Credit: Samuel Isaac Chua/The Edge Singapore)
SLP Scotia – the result of a merger between SLP Realty and Scotia Real Estate Group in July – is in sixth place with 585 agents.
Table 1: Number of licensed agents and registered agencies, 2016 to 2018
As at Jan 1, 2016
As at Jan 1, 2017
As at Jan 1, 2018
Number of property agents
29,262
28,397
28,571
Number of property agencies
1,369
1,286
1,269
(Credit: CEA)
Table 2: Ten largest agencies by size, as at Jan 1
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
(Credit: CEA)