Some estate agencies have adjusted their guidelines in response to the CEA’s assessment. ERA, for instance, discontinued policy of registration costs for its officials since Jan 1. New providers did, nevertheless, continue to have these fees paid by ERA for the first two years.
The company said the shift allows assets to be allocated to other initiatives and addresses the pattern of inert agents switching agencies to benefit from cost insurance.
ERA said it has since lost about 300 providers, most of which were dormant or part-time officials with no trades in the past month. These deviations were partially offset by the addition of 230 new officials.
PropNex said it does not include registration fees, saying that regeneration of an owner’s permission is an adult role.
“This coverage has contributed to a large number of effective salespersons and the strong performance of our organization. This also fosters accountability, helping us maintain a highly engaged and committed salesforce, ” said chief agency officer Eddie Lim.
Other companies, like as OrangeTee & Weave, continue to pay brokers ‘ renewal costs. It said it has been doing but since 2022 to aid agencies with business expenses.
Asked if it might change its policy, CEO Justin Quek may simply say that the agency regularly reviews its policies to ensure they coincide with business demands and the agency’s long-term goals.
Huttons Asia said assistance for the monthly fees for its officials is given out on a “circumstantial basis”.
For instance, it did so when the house industry took a hit at the start of the COVID-19 crisis. Brokers who achieve certain total payment amounts also get incentives for their fees the next season, said CEO Mark Yip.