PropNex Realty is officially the largest real estate agency with 6,688 salespersons. (Photo: Jianwei Huang)
Some 845 out of the 1,063 property agents (80 percent) from Dennis Wee Group (DWG) have signed an agreement to cross over to PropNex Realty following a merger announcement in June.
This means that PropNex is officially Singapore’s largest real estate agency with 6,688 agents, according to the Council for Estate Agencies (CEA) registry as of 10 July. That puts it ahead of ERA Realty Network with 6,176 agents and Huttons Asia (3,129 agents).
Commenting on the transition process, PropNex’s Senior Strategic Partner Dennis Wee, who founded DWG in 1993 said: “The extensive administrative support provided plus special briefings conducted personally by the PropNex leaders have contributed to the smooth crossover for the salespersons.”
Of the balance 218 DWG agents who did not choose PropNex, 105 are inactive while most of the remaining 113 agents have decided to join other agencies.
“Since the announcement of the merger, many agencies went all out to woo the DWG salespersons to join them,” said Mohamed Ismail, CEO of PropNex Realty.
Meanwhile, he expects the merger to strengthen PropNex’s new project sales business. In the first half of 2017, the agency recorded total sales of 1,223 units across 16 residential projects including Parc Riviera, Artra and OUE Twin Peaks.
Romesh Navaratnarajah, Senior Editor at PropertyGuru, wrote this story. To contact him about this or other stories, email romesh@propertyguru.com.sg
