PropNex’s efforts to engage consumers and developers pay off

SINGAPORE (EDGEPROP) - It has been a busy year for Ismail Gafoor, CEO of mainboard-listed PropNex Realty. On top of managing an agency with more than 8,300 real estate agents, he leads the production of videos for the new project launches of more than 30 that the agency is marketing this year, and has conducted more than 100 consumer seminars so far this year together with other PropNex leaders.
All this has enabled PropNex to reach more consumers to support the sales of newly launched projects, as well as provide business for their agents this year. The agency’s efforts have been recognised by the developers, with PropNex walking away with the Marketing Agency Excellence Award at this year’s EdgeProp Singapore Excellence Awards 2019.
According to the company’s 2Q2019 financial results report, PropNex closed the most number of new units for almost all of the top 10 best-selling projects from April to June this year. These include Parc Botannia, Treasure at Tampines, The Tre Ver, Sky Everton, and Amber Park.
“While we cannot create a larger home buyers’ market by ourselves, we can capture a bigger proportion of the home buyers who are prepared to buy property,” says Gafoor.
Ismail Gafoor, CEO of mainboard-listed PropNex Realty. The agency has worked to reach more consumers to support the sales of newly launched projects, as well as provide business for their agents. (Picture: Samuel Issac Chua/EdgeProp Singapore)
One reason for the strong sales performance in the new private homes market is that developers have been setting “sensitive” launch prices, says Gafoor. “Buyers lack the urgency to purchase properties today, and that is understandable [given the market conditions]. The only way to lock in buyers at launch is through sensitive pricing, and we are thankful that developers understand [this],” he says.
Secondly, many consumers make the effort to better understand the property market. “Consumers have kept an open mind to understand the market trends. I believe this is good for them, because they will be able to invest in something with a long-term view that makes sense,” he says.
A bright spot for PropNex is the luxury segment which has performed “exceptionally well” this year, says Gafoor. “The honest truth is we were a bit surprised [about the segment’s performance], because we were very worried when the additional buyer’s stamp...