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ERA Singapore ends perk of covering annual CEA licence renewal fees for its agents

By EdgeProp Singapore

/ EdgeProp Singapore |

January 1, 2025 1:37 AM SGT

Chu: By reallocating resources toward technology, training, and marketing, we reaffirm our commitment to empowering our core team of results-driven salespersons (Photo: ERA Singapore)

From Jan 1, ERA Singapore will discontinue its longstanding goodwill practice of covering the annual Council for Estate Agencies (CEA) license renewal fees for its real estate agents. The gesture, which has been in place for the past seven years, even throughout the COVID-19 pandemic, has been a hallmark of ERA’s support for its agents.

In a statement, ERA says that the decision allows the company to reallocate resources toward initiatives that enhance growth and success for its market-leading salesforce and benefit consumers.

However, ERA will continue supporting new agents by covering their renewal fees for the first two years—a common industry practice designed to help newcomers establish themselves.

Read also: Marcus Chu expects 2025 to be ‘a boom year’ for Singapore’s private housing market

The decision to discontinue the renewal fee coverage also addresses a recurring issue of inactive agents shifting between agencies solely to take advantage of the fee coverage.

It has also resulted in a modest reduction of approximately 300 agents, primarily inactive or part-time salespersons with no transactions in the past year, says the firm.

At the same time, ERA has attracted around 230 new professional agents who joined the agency on Jan 1, highlighting its continued appeal to active and aspiring real estate agents.

“The CEA is currently reviewing the need to implement a minimum transaction requirement for real estate salespersons,” says Marcus Chu, CEO of ERA Singapore. “It underscores the importance of active participation and continuous professional development in the industry.”

Chu adds, “By reallocating resources toward technology, training, and marketing, we reaffirm our commitment to empowering our core team of results-driven salespersons to excel and deliver exceptional value to clients.”

Tags:

ERA Singapore Marcus Chu

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