On August 28, 2017 (Monday) two of Singapore’s real estate companies have joined forces thus forming the country’s 3rd largest real property agency.

The merging made more than 4000 agents, with 2, 936 & 1, 122 from OrangeTee Business Solutions and Edmund Tie & Company respectively making its way ahead of Hutton’s and next to ERA Realty.

According to Steven Tan, managing director of Orange Tee:

“Real estate and the wider economy are going through structural changes. Digitisation and the sharing economy have disrupted many traditional modes of commerce, and the market has responded by consolidating and rationalizing. He also added, “To do well, real estate agencies need to create economies of scale to boost their productivity, manage their costs and ensure adequate manpower.”

On the same note, Ong Choon Fah, CEO of Edmund Tie & Company, emphasized that their agents need to embrace changes in technology hence, needing to upskill themselves.

She also added, “Agents need to shift the balance away from administrative and operational activities towards higher value-added services such as advisory expertise,”

For instance, it has a portal for new condo Singapore listings, and is now working on a digital platform known as the Property Agents Review, “to list agents’ track records for customers to rate and review”.

Edmund Tie & Company’s parent firm is a full-service real property consulting firm with experience in project marketing services.

Its Chief Executive Officer said that both firms are established industry brands, and “known for strong work ethics and high levels of professionalism”.

She also added, “The similarity of organizational cultures is a good start towards a successful merger that is sustainable over the long term. Additionally, both firms complement each other well in terms of capabilities,”

According to the media release of both companies, they have more than 50 in-house training programs and 1, 400 training hours per year making their agents equipped to handle their existing residential projects and upcoming launches.

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