Singapore, 25 May 2016 – Many Singaporeans buy and sell their properties. While most usually engage a real estate salesperson to save the hassle, some of them are actually planning to handle the property transactions on their own.Minister for National Development Mr Lawrence Wong recently cited a case study where a real estate salesperson advised the seller not to sell his property after calculating the cash proceeds. The proceeds were too little and did not fulfil the seller’s objective. If the seller had handled the property transaction himself, he would have lost his home and not achieved his financial goal.

With more than 20 years of experience, Marcus Chu, Chief Operating Officer of ERA Realty Network, will now address some of the risks associated with do-it-yourself (DIY) property transactions and how you can avoid them.

Potential Pitfalls

  1. Emotional attachment – Sellers have an emotional attachment to their properties. Thus, they expect a higher selling price without really understanding the market conditions and transactions. This will usually lead to an unsuccessful transaction.
  2. Qualification of buyers – Unlike agents who have a vast network and marketing expertise to reach out to qualified and interested buyers, DIY sellers may have less access to qualified buyers. Engaging a non-qualified buyer not only causes a loss of time but also unnecessary incurred cost.
  3. Psychological dilemma – On average, the selling process of a property will take more than three months. DIY sellers may lose patience and become desperate. As such, they may choose to sell their homes at a lower price. Alternatively, a real estate salesperson engaged by the seller may advise him otherwise.
  4. Procedures of transactions – A DIY seller and a direct buyer may not be familiar with procedures such as the contra facility and may mess up the timing arrangements for submission, first appointment and completion. Changes of appointments require a resubmission to Housing and Development Board (HDB) and will thus incur costs and create inconvenience.
  5. Legal redress support – If a buyer is to default on the deal, for example, he withdraws on the first appointment, HDB will treat the case as cancelled. There is no support for legal redress from HDB. The seller would need to hire his own lawyer to seek compensation from the buyer. If the seller has bought a property and needs the money from the sale to facilitate his purchase, he will need to convince the ex-buyer to close the deal or search for a new buyer within a limited timeframe.
  6. Minimum Occupation Period – The three-month extension for seller to stay will delay the MOP for the buyer by three months. Both parties need to negotiate on cost such as the property tax and conservancy charges.

 Tips for DIY buyers & sellers for HDB resale flats

  1. Resale Levy – The resale levy amount is fixed based on the first subsidied property, but you only need to pay when you purchase a second subsidied property. It is applicable to buyers who:
    a. Dispose of their subsidised flats and then buy a second subsidised flat from HDB
    b. Dispose of their subsidised flats and then buy an EC from a developer where the land sale was launched on or after 9 December 2013, including those where tenders were not closed, e.g. Westwood Avenue, Canberra Drive and Anchorvale Crescent
  2. Usage of Central Provident Fund (CPF) Savings – The Public Housing Scheme (PHS) enables CPF members to use their CPF Ordinary Account savings to buy new or resale HDB flats. Buyers can use their CPF Ordinary Account (OA) savings to buy an HDB flat (new or resale) to:
    a. finance all or part of the purchase price;
    b. service monthly housing loan instalments taken to buy the HDB flat; and
    c. pay the stamp duty, legal fees and other related cost such as flat upgrading cost.
    Nevertheless, you are not eligible if you are:
    a. buying an HDB flat with a remaining lease of less than 30 years; or
    b. buying an HDB flat with a remaining lease of less than 60 but at least 30 years and your age plus the remaining lease of the HDB flat is less than 80 years.
  3. Checking of various grants – DIY buyers should check and fully utilise the various CPF Housing Grants for HDB flats catered to different categories of buyers, such as first-time applicants, second-time applicants, first-time and second-time couple applicants, non-citizen spouse and more.

Many sellers opt to handle the property transactions on their own to save on the commission. Nevertheless, these are some of the pitfalls that they should look out for to prevent from losing more in the long run.

Singapore, 20 May 2016 – 
By
Eugene Lim, Key Executive Officer
Seah Yao Hui, Research Analyst
ERA Realty Network Pte LtdSince the imposition of several rounds of cooling measures, private property prices have fallen by 9.1 per cent from their peak in 2013 while transaction volume has more than halved from 2012.The first few major project launches in 2016 have fared well in today’s languid market.

Located within walking distance of Choa Chu Kang Mass Rapid Transit (MRT) station, Wandervale, an executive condominium (EC) project developed by the Sim Lian Group, sold about 50 per cent of its total units in its launch weekend.

The following weekend, two other residential projects were launched, The Wisteria and Cairnhill Nine. Both were well received by buyers, who snapped up 116 out of 216 units at The Wisteria and 134 out of 268 at Cairnhill Nine.

Big or small?

Developers have taken to launching smaller units so as to keep the overall quantum affordable. The average gross floor area of units at new projects fell from 1,051 square feet in 2010 to 810 in 2015 for city fringe properties. Suburban developments saw a smaller decrease from 1,017 square feet in 2011 to 811 in 2015.

Correspondingly, at both Cairnhill Nine and The Wisteria, we note that the bulk of the transactions are small units. 1 bedroom units made up 70% per cent of all the units sold at Cairnhill Nine and all 1 bedroom units were snapped up the launch weekend of The Wisteria.

We attribute this to the attractive prices of these projects. At Cairnhill Nine, prices for a one-bedder started from $1.35 million. For buyers, this presents a fantastic opportunity to own a trophy Orchard Road property. Over at The Wisteria, one-bedroom units went for less than $500,000. Coupled with the convenience of having a retail mall managed by Keppel Land Retail Consultancy just a lift ride away, buyers found this a value buy.

However, these sales figures tell a contrasting story compared to 2015. Then, many of the newly launched projects saw strong take up for two-bedroom units, while one-bedroom units were largely not in favour.

A reason for the apparent preference for one-bedroom units would be the individual attributes of the developments. Cairnhill Nine is located within a short walking distance to Mount Elizabeth Hospital, which would provide some form of rental demand in the form of medical tourists who need to stay in Singapore for an extended period of time. Furthermore, being integrated with Ascott Hotel and Residences guarantees a high level of service provided to all residents, which appeals to tenants as well. Hence, buyers tend to investors who are looking to rent out their property.

Similarly at The Wisteria, majority of the buyers are investors. Its main draw is its affordability. The relatively low quantum caters to the aspirations of Singaporeans to own private property. In addition, The Wisteria holds an edge over many private condominiums at the same price point because it is integrated with a retail mall. The extra layer of convenience adds to the ease of renting out units in the future.

On the other hand, Wandervale, being an EC targeted at families, saw buyer activity focused on larger units. The four-bedders are 87 per cent sold and the larger three-bedroom premium units account for 66 per cent of the total three-bedroom sales.

This is because ECs have more stringent ownership regulations, which discourage investment activity. These include the five year minimum occupation period and income ceiling. Hence, buyers of ECs tend to be families who are looking to occupy the units. As such, larger units are preferred by this group of buyers.

Foreigner interest still strong

Buying activity from foreigners has plummeted after the imposition of the Additional Buyer’s Stamp Duty (ABSD). When the ABSD was first introduced in December 2011, foreigner transactions dived. Q1 2012 figures show a 72 per cent drop in foreign purchases from the preceding quarter.

Since then, foreigners have taken a back seat in purchasing properties in Singapore. This is most evident in the Core Central Region (CCR) where the number of foreign purchases fell from 285 to 74 after the ABSD was implemented.

However, we observed that Cairnhill Nine has seen substantial foreigner interest, with 46 per cent of the buyers being foreigners.

Amongst them, Indonesians formed the bulk of the buyers. This corresponds to the historical preference of Indonesian buyers for the Cairnhill enclave. Last year, 39 per cent of their purchases in District 9 and 10 were in this area.

A reason for the increased interest could be the price quantum. In addition to being a new project launch, the overall quantum for units at Cairnhill Nine was also among the lowest in the vicinity. As such, foreigners could have found it the price palatable, even after accounting for the 15 per cent ABSD.

HDB upgraders active

Buyers at The Wisteria with a HDB address accounted for almost 90 per cent of the total buyers. Most of them bought the one-bedroom units, indicating that are probably intending to rent out the unit while continuing to live in their current HDB flat. This demand is significant, as almost all the one-bedroom units were bought by purchasers with HDB addresses.

Pricing also comes into play here, as most HDB owners who want to purchase an additional property must have enough savings, either in the form of cash or Central Provident Fund (CPF) monies, to pay off the ABSD and at least 20 per cent of the sale price of the unit. Hence, this group of buyers tends to be extremely price sensitive. In this regard, The Wisteria has managed to attract this target group quite effectively.

HDB owners looking to upgrade to a private address also contributed to the sales at The Wisteria, being the only people who bought three-bedroom units. It is likely that these people are buying for their own occupation. This corresponds to the Singaporean dream of climbing up the housing ladder.

Age matters

Most buyers of private property tend to be older, owing to the higher capital requirements.

On this front, both Cairnhill Nine and The Wisteria share a common trend. Buyers over the age of 40 represent 59 per cent and 49 per cent of the total respectively.

However, we also note that many parents are buying homes in their children’s name, as some buyers are below the age of 30.

In Cairnhill Nine, the percentage is around 20 per cent. This is possibly due to the traditional Chinese mindset to help their children own their first home.

Wandervale, being an EC with eligibility conditions, attracted mostly buyers in their 30s. This group made up 55 per cent of the total. They are likely to be families who have bought their first flat and are looking to upgrade. An EC becomes an attractive option as it shares many similar features as private condominiums but are sold at a lower price.

These three recently launched projects have performed well as they share some common attributes.

First, they have kept their prices reasonable. In today’s market, buyers have many choices when it comes to buying a property. In order for them to commit to a purchase, they have to be convinced that the project is a value buy, and pricing plays an important role.
Second, these projects have certain non-price characteristics that appeal to their end users. Cairnhill Nine offers services from Ascott, which the high net worth individuals will probably prefer. The Wisteria is integrated with a decently sized shopping mall which would contribute to rental demand and hence appeal to investors. Wandervale located between two MRT stations with convenient access to both. Together with the schools and amenities nearby, it is an attractive package for families.

As developers line up more project launches in the coming months, buyers are faced with an array of options. Recently launched projects include The Visionaire EC in Canberra and Sturdee Residences at Farrer Park. GEM Residences at Toa Payoh, Northwave EC in Woodlands and Treasure Crest at Sengkang are set to be launched in the coming months.

With all these quality projects in the market, it is no wonder that buyers are spoilt for choice.

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Singapore, 21 April 2016 –

  • ERA announced impressive month-on-month increases during its Q2 Career Advancement Day.
  • Singapore’s largest property agency gathered feedback on the cooling measures.
  • Under the witness of Minister for National Development Lawrence Wong, ERA launched a new scholarship initiative to groom potential talents in property industry.

Despite a challenging environment, Singapore’s largest real estate agency, ERA Realty Network (ERA) has managed to set a record high of commission receivables for both HDB and private residence resales in March 2016. The agency shared this milestone with attendees of its Q2 Career Advancement Day, held today at NTUC Centre Auditorium.

For the month of March, the agency registered a 64% increase in commission receivables for HDB resales, 26% higher than market increase; and a 73% increase in private resale, 36% higher than market increase.

ERA’s top 50 salespersons also managed to hit an average income of S$92,000 in just a month, which equals to a 72% increase from February 2016.

This feat comes hot on the heels of the Budget 2016 announcement, which did not include any measures to rejuvenate the property sector. The absence of measures was met with disappointment amongst industry players and home owners looking to invest in properties. The new record is evidence that there are still lucrative opportunities for property agents even though the industry is experiencing a bullish climate.

Mr Marcus Chu, Chief Operating Officer of ERA, says, “Teamwork is the key ingredient to our success. As Singapore’s largest real estate agency with 6,100 salespersons, we have the resources and assets to offer our customers top deals and close transactions efficiently. We continue to empower our salespersons by upgrading their knowledge and skill sets. For example, IMPACT, a series of continual training sessions, invites thought leaders in respective fields to share their expertise with ERA’s property agents.”

“One of our salespersons, Melissa Tan, recently received compliments from Council for Estate Agencies (CEA) for her outstanding service. We are very proud to see our salespersons remain highly regarded in today’s market. They go the extra mile to provide top-rate services to their clients.”

Mr Chu also credits ERA’s incentive programmes as another success factor. As an agency with a vast network of partners, ERA can tap on the complementary strengths of these associations. Recently in March 2016, top achievers were sent to the ERA International Business Conference 2016, held in Orlando, USA. ERA is the only real estate agency in Singapore that offers agents the opportunities to attend international conferences.

To date, ERA has executed marketing launches for over 200 international and local residential projects. “In March, ERA has managed to hit 476% and 395% increases in Executive Condominium (EC) and private project sales respectively, and that is largely due to the high level of trust our partner developers have in us. Amongst the projects we have undertaken include Bellewaters, Cairnhill Nine, Kingsford Hillview Peak, The Wisteria and Wandervale. These projects cover different estates in Singapore, attesting to our national presence as well as expertise in Singapore’s key districts,” says Ms Doris Ong, Chief Operating Officer of ERA.

ERA Echoes Government’s Action to Continue Monitoring the Property Market Closely

During Chief Executive Officer of ERA, Mr Jack Chua’s opening speech, he echoed governement’s action to keep a close track of the property market, and be prepared to respond to policy changes when needed.

“We have gathered feedback from the ground. For many Singaporeans, it is a dream and goal to own a second property in Singapore. To build a recurring rental income stream, many choose to rent out their spare rooms or properties. This income in turn is used to offset the high living costs and also to build a nest egg.”

Currently, a married Singaporean couple is entitled to an ABSD refund when purchasing a second property. However, the couple still has to pay the ABSD first. A refund is only valid when a certain set of conditions is met.

Also, many home buyers take up a loan to finance their home purchases. When the ABSD of 7% is factored in, their Total Debt Servicing Ratio (TDSR) becomes infavourable. TDSR is a technique used by banks to assess loan applicants and their financial abilities. With this added tax burden, many eager home buyers no longer make the cut.

In turn, many Singaporeans have turned to unorthodox measures such as de-coupling — releasing of one individual’s name from the lease so that he can purchase a second property — to circumvent the ABSD.

Launch of Real Estate Scholarship Initiative under the Witness of Minister for National Development

Under the witness of Minister for National Development Lawrence Wong, ERA also launched a new scholarship initiative aimed at grooming potential talents in the property industry.. This scholarship aims to support and encourage ERA’s family of employees, salespersons and customers to pursue further studies in local institutions.

The first scholarship was awarded to Mr Seow Chze Kuan, who came from a humble family. His mother is a chamber maid and his father is a gardener. He joined ERA as a salesperson to earn and save for his university school fees. Mr Seow will further his study in the Department of Real Estate, National University of Singapore in August.

By encouraging higher education, ERA hopes to groom a generation of high-calibre performers. Buoyed by competent and knowledgeable talents, the industry stands to benefit and market performance will thrive.

ERA Career Advancement Day is a key initiative that celebrates the stellar achievements of ERA’s top property agents as well as arms them with professional skills and knowledge that will advance their career goals. Awards are given out to the Top 5 new achievers as well as Top 100 achievers for Q1 2016. Division Director promotions and appointments of Division Director are announced at the event too.

Singapore, 16 March 2016 – The median gross monthly commission earned by top 300 real estate agents [1] hit $11,686.49 in 2015, according to the latest statistic released by ERA Realty Network, the largest real estate agency in Singapore.This statistic reinforces that real estate agents are still commanding some of the highest salaries in Singapore despite challenging property market conditions. On average, the median gross monthly income of full-time employees in Singapore in 2015 was S$3,949 [2], which is 66% lower than the median gross commission earned by real estate agents.

These 300 agents aged from 23 to 65 years old, with 4 of them aged above 60 years old, earning more than $133,876 annually despite being at their retirement age.

“Media channels are reporting that many property agents have quitted the industry in 2015. However, the statistic proves that the performance of property sector is positive,” said Jack Chua, CEO of ERA Realty Network. “There are always opportunities in the market. Be it a fresh graduate or a senior citizen, everyone has an equal chance to succeed in the venture.”

“The market is tough, but everyone in the company remains committed to our tradition of innovation and service excellence, putting in their best efforts to elevate their service to clients – all these have allowed the company to be resilient even in the face of financial crises, market downturns, and changes in real estate regulations.”
In 2015, ERA Realty Network has rolled out a series of initiatives and policies to help agents to grow their income by creating more sales and cost-saving opportunities.

  • Knowledge and skill training remain at the apex of ERA’s priorities. Training is necessary to groom and grow the agents. ERA has organised more professional development programmes, market-focus programmes and other refresher courses to keep its agents abreast of the latest market developments and standards, helping them to close deals.
  • With the help of tools like ERA SG Project mobile app, salespersons are able to be competitive through the access to real time information about new launches and property transactions conveniently. Agents can show to potential buyers what are the available units and prices anywhere, anytime.
  • High compliance cost has always been one of the key concerns for salesperson. In 2015, ERA has expanded to five offices spread over 65,000 sqft of space, at Mountbatten Square, SLF Building, Zhong Shan Park, Toa Payoh Hub and 600 Toa Payoh, providing full facilities support to help our salespersons minimize their costing. To further defray the compliance costs from salespersons, ERA has also implemented free CPD program and renewal reimbursement program to all qualified existing salespersons.
  • Being the largest real estate agency in Singapore, ERA has been appointed to market most of the projects in Singapore. This creates more project sale opportunities to our agents.
  • Customers-centric initiatives – ERA has made salespersons’ information transparent and accessible to customers. They can choose agents based on testimonials, preferred locations and their respective strengths.
  • First and only real estate agency that offers agent welfare and benefit for greater work motivation. ERA has set aside S$500k a year for its ERA Extra Mile Programme in recognition of salesperson’s efforts in service rendered to clients, and recruitment. They can benefit from the ERA points by redeeming the course fees for their CPD and ERA Professional Development Programme training. Salespersons can also purchase corporate merchandise such as corporate uniforms and name cards with their ERA points.

Jack shared, “Many individuals are lured by factors such as high salaries and work-life balance. However, selling properties has never been a simple sales job. It is a long-term, viable career that requires constant upgrade. A good real estate salesperson has to be discerning, trustworthy and professional so that he can advise and recommend the best solutions to his clients.”

At a young age of 28, ERA Top Achiever 2015 – Kavin Kuah has earned median monthly gross commission of $119,873.27. “I started my real estate career in ERA in 2012 and have successfully unlocked several milestones with the support and encouragement given by the company. Real estate is a good career path if you are someone who looks forward to no-ceiling income. There are always opportunities around, it’s all about commitment, passion and perseverance.”

[1] These 300 real estate agents are 2015 ERA Top Achievers announced in February 2016.
[2] Income Summary Table by Ministry of Manpower, 28 January 2016, URL: http://stats.mom.gov.sg/Pages/Income-Summary-Table.aspx

Singapore, 23 February 2016 – Spring comes to the withered tree, like a dry tree reviving in spring; good fortune that comes after a long spell of challenges《枯木逢春》喻枯干的树遇到了春天，又恢复了活力Over the past few months, many reports have been indicating that the property market is struggling and it’s the main cause underpinning the recent sharp drop in the number of registered property agents. Nevertheless, a downturn can bring about opportunities if one is nimble, as the recent report by ERA Realty Network (ERA) shows that the overall market has actually improved over time with an increase of 15,366 transactions from 2014 to 174,795 transactions in 2015.

There should be more opportunities available for property agents now since more agents fall behind. But what are the ways to succeed? What would be the prospects for Chinese-speaking agents and how can they remain relevant in the industry?

In recognition of this concern and to further motivate real estate salespersons, leading real estate agency ERA is organising a special Chinese seminar next Tuesday for ALL real estate salespersons. A total of three speakers will be there to share their inspiring stories of how they had managed to weather failures in their careers before enjoying the sweet taste of success.

Event Details:
Date: 1 March 2016, Tuesday
Registration Time: 1:30pm
Event Time: 2pm to 5pm
Venue: HDB Hub Convention Centre Auditorium

Fee: $18 (Fully subsidised by ERA for all ERA and External Guest Salespersons)
Interested real estate salespersons from external agencies can contact their preferred ERA salesperson to secure seats for this HIGHLY ANTICIPATED EVENT!
CPD Points: 2 non-core

For more information about the event, please visit https://www.era.com.sg/event.

Singapore, 2 March 2016 – ERA Realty Network (ERA) is proud to unveil its brand-new website. The new portal offers a sleek aesthetic as well as a slew of user-friendly features. Designed to be a one-stop solution for both property agents and clients, the website is optimised for viewing on different devices such as desktops, tablets and handphones.Amongst the marquee features include the Total Debt Serving Ratio Calculator; Real-time Loan Packages Comparison; and Monthly Loan Repayment Calculator. This trio of calculators allows homeowners to better plan for their property purchases.

Smarter Borrowing with Total Debt Serving Ratio Calculator
The Total Debt Serving Ratio is a formula aimed at encouraging more prudent borrowing. As a rule of thumb, clients’ total monthly debts cannot exceed more than 60% of their gross monthly salaries. With this calculator, clients can make more informed financial decisions in real time; property agents can also advise their clients accordingly.

Just Five Minutes to Compare Loan Packages in Real Time
Teaming up with iCompareLoan.com, ERA is now able to offer the former’s Home Loan Report™ to property agents with real-time home loan interest rate comparisons from different providers. This report incorporates the rules and calculations of Central Provident Fund (CPF) Board, Inland Revenue Authority of Singapore, and Monetary Authority of Singapore. Detailed calculations of down-payment cash required; taxes payable; CPF required; and financing costs are formulated in just three to five minutes.
Now, property agents are well poised to tackle property financing matters, which in the past were known to slow down or jeopardise deal closures. With this feature, ERA’s property agents are on deck to offer sound financial advice.

Monthly Repayment Calculator Highlights Financial Liabilities
The Monthly Repayment Calculator takes into consideration factors like Loan to Value; Interest Rate; and Loan Tenure. Home buyers can readily work out their finances as well as their monthly liabilities. This would allow them to gauge their spending power and settle for a purchase that suits their financial abilities.

Charts on Stamp Duty to Facilitate Clear Understanding
Easy-to-understand summaries, as well as infographics illuminating on stamp duties, are also available to help clients fully absorb what the taxes entail. From Buyer’s Stamp Duty to Seller’s Stamp Duty and Additional Buyer’s Stamp Duty, the page provides adequate information on how each tax affects different groups of individuals.

Offering Valued Market Insights
Buying a home is a form of long-term investment. A voice of authority in the industry, ERA will offer insights that empower both clients and salespersons as well as enhance their knowledge of property markets. Armed with such information, the latter can plan for their future investments as well as purchases.

An Online Repository of Compliments by Satisfied Customers
Clients looking to shortlist property agents can now do so even more confidently. A database of testimonials penned by satisfied customers will allow new clients to make informed hiring decisions. Salespersons with a stellar track record can use this page to build their personal branding and evoke trust.

Free Training Videos to Raise the Calibre of All Property Agents
ERA has taken the lead to elevate the profile of Singapore’s property agents. It will be uploading videos that impart skills and dole out important tips. All property agents in Singapore will be able to learn key takeaways from these sessions.

Web Design Optimised for Social Media Sharing
All content on the website is now optimised for sharing on Facebook, LinkedIn, Pinterest and Google+. Property agents who actively use these networking sites to further their customer reach can easily share up-to-date and meaningful content with their clients.

www.iCompareLoan.com has collaborated with ERA to bring Home Loan Report™ to their property agents and assist them with closing deal transactions faster.Problems faced by Property Agents
Property buying and its financing is becoming more complicated. Property buyers now demand professionalism and financial knowledge. Many property agents are not trained in finance to handle this.
People are not buying second or third properties due to the Additional Buyer stamp duty.
Normal transactional demand from people selling their houses to buy another house is also reduced, due to the difficulty in financing.

Solution
iCompareLoan’s Home Loan Report™ helps property agents generate Property Buyer Reports — this report incorporates the rules and calculations of CPF Board, IRAS and MAS — with detailed calculations of down-payment cash required; taxes payable; CPF required; and financing costs in a flat three to five minutes.
Property agents can use this report to help homeowners assess their ability to purchase a new property upon selling the current one.
Home Loan Report™ helps property agents conduct successful listing presentations, opening up opportunities for two transactions:
• To SELL the Home Owner’s current property.
• To BUY the next property.

“We are delighted to collaborate with ERA, a progressive and forward-looking property agency that embraces technology to heighten efficiency for its property agents. An agency that cares about its property agents and collaborators is an important collaborator for iCompareLoan.com,” says Paul Ho, Managing Director of iCompareLoan.com
“In the past, agents struggle with property financing matters which slowed down or completely jeopardised deal closures. We are delighted that iCompareLoan.com has come up with an automated three-to-five minute solution to help property buyers assess affordability and calculate their down payments. This will greatly help agents to successfully secure seller listings as well as help these homeowners buy new homes.,” says Chief Operating Officer, Marcus Chu.

Singapore, 3 February 2016 – ERA Realty Network (ERA) today hosted the 2016 Asia Pacific Business Conference, themed “Transform Tomorrow”, at Sands Grand Ballroom, Marina Bay Sands. Over 2,000 property agents and brokers from the Asia-Pacific region were in attendance.A marquee highlight of the event was the award presentation, where ERA recognised the achievements of its top agents. Awards were handed out to its Top 300 Singapore Achievers; top ERA agents all over Asia Pacific; as well as the top division directors in its 178 divisions of agents.

Recently ranked Singapore’s largest real estate agency by Singapore Business Review, ERA boasts a 6,000-strong workforce and has partners from USA, Japan, Indonesia, Korea, Taiwan, Thailand and Malaysia.

In his opening speech, Mr Jack Chua, CEO of ERA, said, “ERA Singapore has been facing tough times these recent years, but I am proud to say that with the hard work of our staff and salespersons, the agency has remained resilient and continued to grow through these times. We are looking to further expand ERA not only in Singapore but also Asia Pacific.”

“In general, Singapore real estate sale transaction has been declining since 2013. However the market has improved over time, and transactions have increased in 2015 as compared to 2014. The overall transaction market has increased from 159,429 transactions to 174,795 transactions in 2015, an increase of 15,366 transactions.”

A stalwart in the industry

ERA has been gaining traction over the past few years with new offices and franchises being established all over Asia Pacific. ERA’s 6,000 agents account for 20% of the total number of agents in the industry. Yet collectively, ERA agents are responsible for over 25.48% of the total 174,795 transactions closed in 2015. That is over 44,532 transactions.

In 2015, the market also saw a year-on-year increase in the number of transactions. ERA accounted for 46.37% of the total number of increased transactions — over 7,125 transactions. Such a stellar performance attests to the productivity and calibre of ERA agents.

A positive outlook

According to Mr Chua, sentiments for the real estate market are positive for 2016, as no new cooling measures will be rolled out. ERA will harness the market potential and bring about greater growth by emphasising on six key areas:

  1. Technology

ERA will revamp its ERA Singapore and Asia Pacific website as well as introduce more features and benefits to its iERA mobile app.

The website revamp will feature a brand-new design. Our partners will receive a dedicated page that introduces what they do. A centralised listing will also help facilitate cross-border sales. Through these, ERA agents will be able to introduce the listings to their customers and negotiate deals effectively. Training sessions, videos as well as an online shop will also be available when the new website is unveiled.

  1. Online and social media marketing

ERA will ramp up its online branding efforts and create more brand awareness across its different social media platforms. ERA plans to reach out to more consumers and agents by making regular updates of market trends, educational property information, ERA insider news and training videos more accessible to everyone. Advertising campaigns on both Google, Facebook and YouTube channel are in the pipeline.

  1. Listings (Consolidated Asia Pacific Listings & Singapore Commercial Listings)

A series of corporate effort will be rolled out to further increase ERA’s market presence in the commercial sector. For instance, ERA will focus on building relationships with commercial clients such as Ascendas, Ascendas Real Estate Investment Trust (A-REIT), Keppel REIT, C&P Logistics Hub and more. ERA will then be consolidating and publishing its commercial listings on the new ERA Singapore website. Agents can go directly to the developers or owners to close the listings, or to team up with ERA’s commercial department.

  1. Training

Training remains at the apex of ERA’s priorities. Training is necessary to groom and grow the agents. ERA will organise more specialised classes and refresher courses to keep its agents abreast of the latest market developments and standards.

  1. Agent welfare and benefit

In 2016, ERA agents can look forward to even more welfare benefits. From medical benefits to F&B and shopping perks, ERA agents can now work hard and play harder. All they need to do is to present their ERA ID tags at the partnering vendors.

  1. Recruitment

ERA will continue to attract potential talents through its recruitment efforts. With the recent subsidiary from the government, the course fee required to be an agent is very affordable. For example, by tapping on the SkillsFuture credits (S$500) and UTAP funding (S$250), interested individuals can now sign up for the Council for Estate Agencies (CEA) approved Real Estate Salesperson (RES) course at less than $85 at Appointed Course Provider. – which is the only and most affordable approved RES course in Singapore. This makes it a low-risk investment that will open up a whole new world of possibilities.

The course imparts invaluable knowledge as well as offers a look into real-life applications and insightful case studies.

Through these approaches, ERA is well poised to achieve greater success for their new appointments in 2016.

At the start of 2016, ERA has already been appointed for the launch of 8 exciting residential property projects including:

  1. WanderVale, an executive condominium in Choa Chu Kang with 534 units
  2. The Wisteria, mixed development in Yishun with 216 units
  3. Integrated development at Cairnhill with 268 units
  4. Ardmore 3, a condominium in Ardmore Park with 84 units
  5. The Visionaire, an executive condominium in Canberra Drive with 632 units
  6. Condominium at Toa Payoh with 578 units
  7. Sturdee Residences, a condominium in Beatty Road with 305 units
  8. Condominium at Lorong Lew Lian with approximately 500 units

Singapore, 2 October 2015– ERA Realty Network Pte Ltd (ERA) has been awarded the 5-Year Outstanding SHARE Award and SHARE Corporate Platinum Award by the Community Chest. The award recognises the consistent commitment by the company to its charitable efforts, despite a difficult real estate market.ERA has maintained a nearly 18-year relationship with the Community Chest, starting with organising the Win A Dream donation draw in 1997, which had a top prize of S$200,000. Despite facing challenging real estate market conditions in recent years, the company has continued to consistently contribute to the Community Chest. These efforts have culminated in the company being awarded the 5-Year Outstanding SHARE Award and SHARE Corporate Platinum Award.

SHARE Platinum Awards are given to companies where at least 90% of employees participate in contributing a minimum of $300k to the community chest in a year. To be eligible for the SHARE Corporate Platinum Award, companies must match the amount contributed by their employees. Additionally, the 5-Year Outstanding SHARE Award recognises ERA’s efforts in consistently achieving the SHARE Platinum Award for 5 consecutive years.

The Community Chest presented these awards to ERA at the Community Chest Awards 2015 ceremony, which was held at the Capitol Theatre, on 25 September 2015. The ceremony was graced by Dr Tony Tan Keng Yam, President of the Republic of Singapore, and Tan Chuan Jin, Minister for Social and Family Development.

Jack Chua, Chief Executive Officer (CEO) of ERA said, “We are committed to our Corporate Social Responsibility efforts, no matter the market conditions.” He added, “ERA staff believe in this as well, which is why the gladly contribute a small portion of their salary to the Community Chest every month.” Jack Chua, CEO further commented, “We look forward to our continued relationship with the Community Chest and winning the Outstanding SHARE Award for the next 10, 15 and 20 years to come!”

In addition to the Community Chest, ERA has also worked closely with charitable organisation such as Singapore Association for the Deaf, Canossaville Children’s Home (CCH), and Metta Welfare Association. The company will be donating funds to CCH for their upcoming Q4 ’15 Career Advancement Day- Excelling Together. ERA had previously donated over S$78,000 to CCH in November 2014 which was raised in collaboration with our inaugural talent challenge- ERA’s Got Talent. The company has also donated 600 used jackets to Metta Welfare Association in June 2015, and organised an ERA Charity Walk 2015 in March 2015, donating S$80,000 to the Singapore Association for the Deaf.

Singapore, 24 September 2015– ERA Realty Network Pte Ltd (ERA), the largest international real estate agency in Singapore, will hold its 4th Quarter (Q4) ERA Career Advancement Day on 22 October 2015, at Suntec Singapore Convention Centre, Hall 404. The company will also donate to Canossaville Children’s Home for every seat reserved before 30 September 2015.ERA organises a Career Advancement Day every quarter, which serves as an opportunity for salespersons across ERA to celebrate each other’s success. Q4’s ERA Career Advancement Day, themed Excelling Together will be held on 22 October 2015, at Suntec Singapore Convention Centre, Hall 404. About 1,200 salespersons and invited guests are expected to turn up. A key highlight of this event will be a talk by an overseas keynote speaker, Darmadi Darmawangsa, President, ERA Indonesia, on “Secrets of the Champion!” This talk will cover key lessons on how to be a successful person in life. The previous Career Advancement Day, Growing Together, was held on 3 August 2015, at Yio Chu Kang Stadium, in conjunction with SG50 celebrations. During the event, ERA broke the Singapore Record for “The Largest Number of People Performing the SG50 Happy Dance Together”.

Jack Chua, Chief Executive Officer (CEO) of ERA said, “Our Quarterly Career Advancement Day is an important event to us.” He continued, “This allows the senior management staff to align the company’s direction with our salespersons, ensuring that the company continues to excel together.” Jack Chua, CEO further elaborated that the Career Advancement Day allows salespersons to understand how they can continue to grow their careers with ERA. He shared, “Despite a challenging market, we continue to grow from strength to strength as the largest international Real Estate Agency in Singapore, since our local milestone of 6,000 salespersons in 2014.”

For Q4 ERA Career Advancement Day, ERA will be donating to Canossaville Children’s Home for every seat reserved before 30 September 2015. ERA has a strong commitment to Corporate Social Responsibility work, having previously adopted Canossavile Children’s Home twice. In addition to adopting Canossaville Children’s Home for this event, the company has also been an Ambassador for the Deaf, with The Singapore Association For The Deaf since 2010.

Jack Chua, CEO said, “While we celebrate the good services rendered to our clients, it is important for our salespersons to remain humble.” He added, “We recognise the need to share our success with the less privileged, such as the children from Canossaville Children’s Home.”

Canossaville Children’s Home cares for young children and adolescents who are at risk, lack parental care, or family support. The home also runs a Student Care Centre for children from single-parent poor families.