ERA Singapore ends perk of covering annual CEA licence renewal fees for its agents
From Jan 1, ERA Singapore will discontinue its longstanding goodwill strategy of covering the annual Council for Estate Agencies (CEA) license resumption costs for its property agents. The gesture, which has been in place for the last 7 years, also all over the COVID-19 pandemic, has been a hallmark of ERA’s help for its agents.
In a statement, ERA says that the decision enables the company to reallocate resources towards efforts that boost development and progress for its market-leading salesforce and reward customers.
At the same time, ERA has drawn in around 230 new expert brokers who joined the agency on Jan 1, emphasizing its continued attract energetic and hopeful property agents.
” The CEA is presently reviewing the requirement to execute a minimal deal requirement for real estate sales reps,” states Marcus Chu, CEO of ERA Singapore. “It highlights the significance of energetic participation and continuous expert development in the sector.”
The decision to stop the renewal charge coverage even manages a repeating issue of non-active representatives shifting in between companies exclusively to take advantage of the cost protection.
It has actually also led to a small reduction of approximately 300 representatives, mainly inactive or part-time sales assistants without any purchases in the recent year, says the business.
Nonetheless, ERA will continue supporting brand-new agents by dealing with their renewal charges for the first 2 years– a basic market technique developed to assist startups develop themselves.
Chu includes, “By reallocating resources toward innovation, training, and advertising, we reaffirm our commitment to empowering our core team of results-driven sales representatives to succeed and deliver outstanding valuation to customers.”
