In a bid to secure at least half of the market share in the landed housing and Good Class Bungalow (GCB) segments, ERA Realty Network has recruited 60 agents from JLL Residential who specialises in these markets, according to media reports.
Overall, 60 agents from JLL Residential crossed over to ERA, pushing the manpower of Singapore’s largest property agency to 6,016.
They are among the 170 salespersons, who were originally courted by PropNex when JLL Singapore purchased a 20 percent stake in PropNex International in August. However, these agents with expertise in GCBs decided to join ERA instead.
According to ERA’s Chief Operating Officer Marcus Chu, the specialised department will further expand its reach in the GCB market. While the property agency had brokered such deals in the past, it previously did not have a team focusing on this niche segment.
The department will be helmed by Henry Lim, a seasoned broker with 20 years of experience who has sealed about $1 billion worth of deals.
Also joining ERA as Group Division Director is Bernard Wu, who recently negotiated a $18.8 million GCB property along Jervois Road (pictured), which was reportedly purchased by CDL’s Chief Investment Officer Sherman Kwek.
Additionally, ERA’s move is part of its strategy to penetrate the investment market of ultra high net worth individuals (HNIWs), who usually own pricey assets such as hotels and commercial buildings.
Image source: Google Map
Muneerah Bee, Senior Journalist at PropertyGuru, edited this story. To contact her about this or other stories email muneerah@propertyguru.com.sg
