Top property agents earn 66% more than average Singaporean

Romesh NavaratnarajahMarch 17, 2016

Property agents income

Real estate agents still command some of the highest-income jobs in Singapore despite challenging market conditions.

The median gross monthly commission earned by the top 300 property agents at ERA Realty Network hit $11,686 in 2015, according to latest statistics released by the property agency.

This is 66 percent more than the median gross monthly income of full-time employees in Singapore, which averaged $3,949 last year, based on data from the Ministry of Manpower.

These 300 agents are aged 23 to 65, with four of them above 60 years old, earning more than $133,876 annually despite being of retirement age, noted ERA.

At just 28, property agent Kavin Kuah, who joined ERA in 2012, has earned a median monthly gross commission of $119,873.

“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,” he said.

Jack Chua, ERA’s CEO, said the company remains resilient, despite the current market downturn and changes in real estate regulations.

“Media channels are reporting that many property agents quit the industry in 2015. However, statistics prove that the performance of (the) property sector is positive.

“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 upgrading,” added Chua.

ERA remains the biggest agency in Singapore, even after its agent pool dropped by 6.6 percent to 5,947 agents in the October-to-December licence renewal period.

To further help its agents, ERA has rolled out a series of initiatives and policies, such as more professional development and market-focus programmes, as well as welfare and benefit schemes to encourage greater work motivation.

 

Romesh Navaratnarajah, Senior Editor at PropertyGuru, wrote this story. To contact him about this or other stories email romesh@propertyguru.com.sg

julia
Sep 27, 2017
Self employed agents need to top up own CPF etc, pay hefty amount of income tax, no annual or medical leave. It's really tough being property agents.
sqawk
Mar 17, 2016
is this not the case of the 80/20 rule, 300 out of 5947 agents only 5%...the drop thereafter is not reflected in this article...which I find bias...
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