SINGAPORE: There were 36,058 registered property agents as of Jan 1, up from 35,251 last year, according to the latest figures from the Council for Estate Agencies (CEA). Channel News Asia (CNA) reported that this is the highest number of property agents recorded since the CEA was established in October 2010 to regulate the industry.
Meanwhile, the number of property agencies has declined. At the start of 2025, there were only 1,046 licensed agencies, down from 1,090 in 2024 and 1,118 in 2023.
Singapore’s largest agency is still PropNex with 12,636 agents, followed by ERA with 8,648. Huttons Asia, OrangeTee & Tie, and SRI rank next, with 5,699, 2,756, and 1,493 agents, respectively.
The CEA has implemented licensing for property agencies and required agents to register to improve professionalism in the sector. Given the industry’s growth, a rule requiring property agents to handle a minimum number of transactions to stay registered is also being considered.
This follows concerns raised during industry discussions about the potential risks posed by inactive agents.
According to the CEA, inactive agents may struggle to keep up with changing regulations, processes, and market trends, which, as CNA reported, could lead to inaccurate advice for clients.
Singapore property agents must pass an exam and register with the CEA through a licensed agency before practising. They should also renew their registration yearly at a fee, which involves meeting specific criteria such as completing at least six hours of training.
In response, agencies like ERA have stopped covering annual renewal fees for its agents starting this year, except for new agents during their first two years.
The agency stated this change helps allocate resources to other initiatives and addresses issues related to inactive agents. Since the policy change, ERA has lost about 300 agents, mostly part-timers or those with no transactions in the past year. It has, however, added 230 new agents.
PropNex does not cover its agents’ renewal fees. PropNex chief agency officer Eddie Lim described this policy as a way to encourage accountability and maintain many active agents.
Meanwhile, other agencies like OrangeTee & Tie continue to cover renewal fees for their agents. This policy has been in place since 2022 and helps reduce agents’ business costs. When asked if the agency might change this policy, CEO Justin Quek said it regularly reviews its policies to align with market needs.
On the other hand, Huttons Asia covers annual fees for its agents on a “circumstantial basis”. CEO Mark Yip said the agency provided support during the COVID-19 market downturn and offers subsidies for agents meeting specific commission targets the following year. /TISG
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