| Year (as at 1 Jan) | Number of Property Agents | Percentage Change |
|---|---|---|
| 2024 | 35,251 | + 2.39% |
| 2023 | 34,427 | + 6.21% |
| 2022 | 32,414 | + 6.63% |
The number of registered property agents have increased steadily over the last few years to reach an all-time high of over 35,000 to kick off 2024.
Whether you are buying your first home, upgrading from your current house or investing in a property, it is beneficial to engage the services of a property agent to assist you.
Hiring the right property agent is crucial for a smooth and successful real estate transaction. Here are some steps to help you find and hire the right property agent:
Define Your Needs: Understand what you’re looking for in a property agent. Are you buying, selling, or renting? What type of property are you interested in? What is your budget? Knowing your needs will help your property agent to work efficiently according to your requirements.
Research Agents: Look for agents who have experience and a good track record in the specific area or type of property you’re interested in. You can start by searching online, asking for recommendations from friends and family, or checking real estate listings for agents who are active in your desired location.
Check Their Credentials: Ensure the agent you’re considering is licensed and registered with the Council for Estate Agents (CEA). You can verify this information online via the CEA Public Register.
Read Reviews and Testimonials: Look for reviews and testimonials from past clients to get an idea of the agent’s reputation and quality of service. There are many review websites such as the individual property agencies, PropertyGuru, Google reviews and Facebook.
Interview Multiple Agents: You do not have to settle for the first agent you find. Interview several agents to compare their expertise, communication style, market knowledge, and approach to working with clients. Ask about their experience, recent transactions, and how they plan to assist you with your specific needs.
Discuss Fees and Terms: Clarify the agent’s fees and commission structure upfront. Make sure you understand how much you’ll be paying and what services are included. Negotiate terms if necessary, but also consider the value the agent brings to the table.
Evaluate Communication and Compatibility: Communication is key in any real estate transaction. Choose an agent who is responsive, attentive to your needs, and communicates clearly. Also, consider your compatibility with the agent and whether you feel comfortable working with them.
Trust Your Instincts: Ultimately, go with your gut feeling. If something doesn’t feel right or if you’re not comfortable with an agent, it’s okay to keep looking until you find the right fit.
Review the Contract Thoroughly: Before signing any agreements, carefully review the contract terms and conditions. Make sure you understand your rights and obligations as well as the agent’s responsibilities.
Top 10 Largest Property Agencies as of 1 Jan 2024
| Ranking | Property Agency | Number of Agents |
|---|---|---|
| 1 | PropNex Realty Pte Ltd | 11,999 |
| 2 | ERA Realty Network Pte Ltd | 8,891 |
| 3 | Huttons Asia Pte Ltd | 5,298 |
| 4 | OrangeTee & Tie Pte Ltd | 2,814 |
| 5 | SRI Pte Ltd | 1,286 |
| 6 | KF Property Network Pte Ltd | 274 |
| 7 | C&H Properties Pte Ltd | 194 |
| 8 | Century 21 Pte Ltd | 117 |
| 9 | SN Real Estate Pte Ltd | 105 |
| 10 | CBRE Pte Ltd | 97 |
PropNex Realty Pte Ltd is currently the largest and most prominent real estate agency in Singapore. The company was established in 2002 by dynamic industry leaders Ismail Gafoor and Alan Lim. Since its inception, it has grown rapidly to become one of Singapore’s leading real estate agencies.
PropNex Realty’s core business is real estate brokerage, covering a wide spectrum of properties including residential, commercial, and industrial. The company provides a comprehensive range of services such as property sales, leasing, project marketing, and property management.
PropNex has a strong presence in the Singapore real estate market, holding a significant market share in both the primary and secondary residential sectors. The company is renowned for its expertise in Housing Development Board (HDB) flats, private condominiums, landed properties, and commercial spaces.
PropNex boasts an extensive network of real estate agents, often referred to as “PropNexians,” who are highly trained and experienced professionals. The company has strategically positioned agents across Singapore to efficiently serve clients and meet their diverse needs.
PropNex actively engages in project marketing, collaborating with property developers to market and sell new residential and commercial developments. Leveraging its vast network and marketing expertise, the company aims to generate interest and drive sales for its projects.
PropNex Realty embraces technology and innovation to enhance its services and operations. The company utilizes advanced tools and platforms for property listings, marketing, client management, and transaction management, ensuring a seamless and efficient experience for clients and agents alike.
PropNex Realty offers comprehensive training and support programs for its agents, equipping them with the knowledge, skills, and resources needed to succeed in the competitive real estate industry. The company provides ongoing training, mentorship, and professional development opportunities to help agents achieve their goals.
As at 15 Feb 2024, PropNex has a total of 12,233 real estate salespersons.
ERA Realty Network Pte Ltd was founded in 1982 by Mr. Jack Chua, who envisioned creating a professional and dynamic real estate agency in Singapore. Since its inception, ERA has grown rapidly to become a leading agency in the real estate industry. ERA Singapore is the largest international real estate agency in Singapore with presence across 10 countries
ERA’s core business is real estate brokerage, covering a wide range of properties including residential, commercial, industrial, and retail. The company provides comprehensive services such as property sales, leasing, project marketing, and property management.
As at 15 Feb 2024, ERA has a total of 9,083 real estate salespersons.
Huttons Asia Pte Ltd was founded in 2002 by an experienced team of real estate professionals. Since its inception, the company has grown rapidly to become one of Singapore’s largest and most well-established real estate agencies.
In association with Savills, Huttons has more than 5,300 professionals marketing hundreds of local and international projects over 8 countries.
As The Preferred Agency of Choice, it strives to provide the highest level of service to clients through vast knowledge across different market segments, and with empathy. Growing from strength to strength, Huttons is also expanding rapidly and extending its reach abroad, making it a seamless experience for our clients to buy and sell properties globally.
As at 15 Feb 2024, Huttons has a total of 5,365 real estate salespersons.
Key Statistics Of Property Agencies
| Year (as at 1 Jan) | Number of Property Agencies | Percentage Change |
|---|---|---|
| 2024 | 1,090 | -2.50% |
| 2023 | 1,118 | + 1.45% |
| 2022 | 1,102 | - |
The number of property agencies shrunk in 2024 despite the higher headcount of property agents. The top 3 largest property agencies remained unchanged with PropNex in the lead followed by ERA and Huttons.
OrangeTee & Tie, which tumbled out of the top three rankings in 2022, is the only one among the top five agencies to register a drop of about 11 per cent year on year in its sales force headcount. Meanwhile, Huttons recorded the highest growth of close to 9 per cent.
OrangeTee & Tie appointed Mr Justin Quek as its new chief executive with effect from Jan 1, 2024. In December 2023, the former chief operating officer of ERA Singapore, Mr Thomas Tan, joined SRI as chief executive.
PropNex, too, unveiled a new leadership masterplan to fortify its position, appointing Mr Kelvin Fong as deputy chief executive and Mr Eddie Lim as chief agency officer.
PropNex Is The Largest Property Agency in Singapore
PropNex Leads in All Market Segments
Do you intend to buy or sell your property?
You may be thinking what is the next step for you and if it is worth going through the necessary work to buy or sell your property.
When is the best time to sell and can I sell for a better price than my neighbours?
What are my options for buying a property and how can I get the best deal?
Here at The Landed Collective, we specialise in residential properties and that means Condos, Landed Houses and New Developer Sales.
Before you start anything, speak to us for a complimentary consultation as our property agent team will provide you with comprehensive advice, run through the essentials on the property market and answer any questions you may have.