Following the announcement of its new commission scheme, HSR International Realtors have been excluded by its alliance partners from marketing two upcoming Executive Condominium (EC) projects, reported the media.
HSR is part of the Project Alliance Group (PAG) along with DWG, OrangeTee and SLP International.
While recent advertisements for Belleswater and Belleswood ECs include the logo of the Project Alliance Group (PAG); the list of marketing agents does not include HSR.
Despite this, other members of PAG said the alliance remains intact.
According to HSR Chief Executive Anne Tong, some details regarding HSR’s 100 percent scheme need to be ironed out internally, so it “is best not to participate at this moment.”
She explained the decision was mutually agreed with other alliance partners, adding that HSR’s new scheme is not something that the industry can easily accept, with agencies worried that their agents might swing over.
However, Tong assured that the scheme is here to stay, saying “it’s a bold step to break the norm and to be different from everyone else.”
She also revealed that HSR has seen some agents applying to transfer to the agency following the announcement.
Meanwhile, PropNex’s Chief Executive Mohammed Ismail Gafoor said an alliance should have common underlying principles for it to remain intact.
“With one agency having a more favourable commission structure, the showflat will become a poaching ground to recruit salespersons from other agencies within an alliance, which will not be healthy,” he said.
Muneerah Bee, Senior Journalist at PropertyGuru, edited this story. To contact her about this or other stories email muneerah@propertyguru.com.sg
