Property market likely to ‘remain robust’ in 2022: OrangeTee & Tie CEO

By Felicia Tan

/ EdgeProp Singapore |

December 14, 2021 1:42 PM SGT

Photo: Albert Chua/The Edge Singapore

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SINGAPORE (EDGEPROP) -- The property market in Singapore is likely to “remain robust” next year, says Steven Tan, chief executive officer (CEO) of OrangeTee & Tie.

Read also: Private resale market resurgent in 2021: OrangeTee & Tie

The positive outlook is due to the eventual opening up of Singapore’s economy, as well as the return of international travel, says Tan.

“The supply lag caused by the delay in construction should continue to drive up transaction volumes in 2022. We are thus gearing our agents up to identify and leverage these opportunities by equipping them to become more efficient and innovative in their work so that they are able to tap the opportunities,” he adds.

In an email interview with EdgeProp Singapore, Tan shares that the property agency business, as well as its consultancy and advisery business under OrangeTee Advisory have both performed well this year.

OrangeTee & Tie reported a record high number of transaction volumes during the year, while OrangeTee Advisory had clinched the marketing rights to several notable collective sale projects including Thomson View, which launched for collective sale at a reserve price of $950 million in November, he adds.

The figure makes the development the largest en bloc project in terms of price quantum this year. (See potential condos with en bloc calculator)

On the success of both OrangeTee & Tie and OrangeTee Advisory, Tan notes that both arms have benefitted from their mutual collaborations.

“[This is achieved] by tapping on both networks to reach out to residences for en bloc and marketing opportunities,” he explains.

Business outlook

Next year, beyond the positive outlook for Singapore’s property market, Tan is also buoyant on the prospects for both OrangeTee & Tie as well as OrangeTee Advisory.

“[In the year ahead], we expect to be significantly growing OrangeTee & Tie’s agency strength and customer base as part of our business expansion plans. At the same time, we will be looking to diversify into more areas, to broaden our range of services to clients for our consultancy and advisory business, OrangeTee Advisory,” he says.

Next year looks to be a big one for the property group as it will be unveiling a series of initiatives to empower and support its agents in terms of growth, sales, technology and resources.

“Firstly, our growth empowerment is to support our team leaders to accelerate their team growth through multiple channels and innovative recruitment packages. We will be launching an industry-first internship programme to provide a career opportunity for the new agents, especially the millennials,” shares Simon Yio, chief operating officer at OrangeTee & Tie.

Next, the property group also seeks to aid its agents in providing excellent customer support service by equipping them with the latest digital marketing skills such as interactive content marketing and podcast marketing.

The group also intends to include a “Business Technology” function for its Agent and AAG InstantPro apps to aid its agents in enhancing the customer service experience for their clients.

Finally, agents will now get the opportunity to learn new skills and experiences under the group.

“We have dedicated a substantial portion of our 2022 budget of over $5.5 million towards helping our agents acquire new capabilities, enhance their productivity and grow their income. Our agents can thus look forward to property research support, facilities support such as a live streaming and video production studio, and subsidies for the advertisements and events,” says Yio.

“When dealing with OrangeTee & Tie’s agents, customers can expect enhanced engagement through digital platforms along with personalised service from our dedicated agents. They will also have access to the most updated data-driven insights to facilitate their property-related decisions. They can be assured of restful nights, knowing that their interests are well-taken care of,” he adds.

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