GAP has signed a strategic collaboration with PropNex Realty, whereby GAP’s property agents will be transferred to the latter. With the transfer of salespersons, GAP will discontinue its property agency business. Meanwhile, the new collaboration means PropNex will further strengthen its position as Singapore’s largest listed real estate agency with over 7,500 salespersons.
Global Alliance Property (GAP), which operates under the Century 21 franchise, has signed a strategic collaboration with PropNex Realty, whereby GAP’s property agents will be transferred to the latter.
With the transfer of salespersons, GAP will discontinue its property agency business. As for its parent company, China Real Estate Grp (CREG), it intends to continue its venture into real estate development in China.
“I believe PropNex Realty will provide greater opportunities and long-term growth for our salespersons with its proven track record in the past 19 years,” said CREG’s Chairman and CEO, Choo Yeow Ming.
The collaboration was announced by PropNex Realty in a press release on Wednesday (20 Feb), but it did not reveal how many agents would be transferred.
A report from the Council of Estate Agencies (CEA) last month revealed that PropNex Realty takes the lead with 7,400 agents, followed by ERA Realty Network (6,490), OrangeTee & Tie (4,056), Huttons Asia (3,067) and Savills Residential (672).
With the collaboration with GAP, PropNex said it has further cemented its position as Singapore’s biggest listed property agency with more than 7,500 salespersons.
“These newly transferred salespersons in PropNex Realty will be able to elevate their business to the next level with the presence of robust training programmes, specially crafted signature bootcamps, strong Information Technology and backroom support and the solid branding that PropNex Realty offers as the market leader in the industry,” said PropNex Realty CEO Ismail Gafoor.
He added that PropNex works closely with property developers in marketing new project launches. For 2018, its agent team dominated the number of transactions compared to joint marketing agencies for many developments.
“We are confident that PropNex Realty will be able to continue its performance in new project launches. With a wider network of salespersons, we are ready to add greater value to property developers in their outreach to consumers, be it in the luxury segments, mid-tier and executive condominiums (ECs).”