ERA Singapore ends perk of covering annual CEA licence renewal fees for its agents
In a report, ERA says that the decision enables the company to reallocate assets toward initiatives that enhance development and success for its market-leading salesforce and reward customers.
At the same time, ERA has drawn in around 230 brand-new specialist agents who joined the firm on Jan 1, highlighting its continued appeal to active and ambitious property representatives.
From Jan 1, ERA Singapore is going to discontinue its longstanding goodwill strategy of including the annual Council for Estate Agencies (CEA) permit resumption charges for its realty representatives. The action, which in turn has been in place for the past 7 years, also all through the COVID-19 pandemic, has actually been a hallmark of ERA’s support for its agents.
However, ERA will carry on supporting brand-new representatives by covering their renewal fees for the first 2 years– a standard market practice created to help newcomers build on their own.
” The CEA is presently evaluating the demand to implement a minimal deal need for real estate sales reps,” claims Marcus Chu, CEO of ERA Singapore. “It highlights the importance of active participation and continual professional development in the market.”
The choice to discontinue the renewal cost coverage in addition addresses a recurring problem of non-active representatives shifting in between firms entirely to take advantage of the fee coverage.
It has also resulted in a modest decrease of around 300 agents, largely non-active or part-time sales assistants without transactions in the recent year, says the firm.
Chu adds, “By reallocating sources towards technology, training, and marketing, we reaffirm our commitment to empowering our core team of results-driven salespersons to excel and deliver exceptional value to buyers.”
