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Property News03 Feb 2016

Century 21 Singapore joins SRX membership

The Business Times
Lynette Khoo

SRX Consortium C21

CENTURY 21 Singapore Holdings Pte Ltd (C21), together with its affiliates, has become a member of Singapore Real Estate Exchange (SRX), joining 14 other agencies that have already done so.

There are some 410 real estate agents registered under the C21 franchisees in Singapore after the latest licence renewal with the Council for Estate Agencies (CEA) - a significant jump from slightly more than 300 agents last year.

This increase in agent strength made it possible for C21 franchisees to join the SRX as a member, according to Century 21 Singapore CEO Ku Swee Yong, who is also key executive officer of International Property Advisor, a franchisee of Century 21 Singapore.

As a member of the SRX, salespersons of C21 can provide their clients with property information available on the SRX platform, including real-time sales and rental transaction data, as well as property listing technology on property portals and features unique to these portals.

According to the SRX, its members represent 80 per cent of Singapore's registered agents, 90 per cent of resale transactions, and much of new property sales. The other members are PropNex, HSR International Realtors, OrangeTee, DWG, ERA Realty, DTZ, C&H, Savills, RE/MAX, Huttons, Global Alliance Property, SLP, CBRE, and KF Property Network.

The membership criteria include a minimum number of transactions and exclusive listings that can be expected of a 500-man agency.

"The reason we consider agent count, transaction count, and exclusive listings is that the agency must be large enough to be statistically significant to the market," said SRX Property chief executive officer Sam Baker.

"In addition, each agency must have IT systems in place that can ensure the integrity and transmission of the data."

Original article was published on The Business Times

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