In a quieter property market, small is no longer beautiful

Singapore

SMALLER property agencies could suffer collateral damage as the latest cooling measures work their way through the private housing market.

Already, ERA Realty, one of the leading agencies, has struck "strategic collaborations" with two agencies - both in a week.

About 280 to 290 agents at CBRE Realty Associates (CRA) and about 375 from HSR International Realtors could potentially transfer to ERA's network. That would bring its headcount to above 6,800, maintaining its place as the country's second-largest agency by salespersons after PropNex Realty. The collaborations also come ahead of the renewal of the salesperson registration exercise for property agents, to begin on Oct 1.

ERA told The Business Times (BT) that the two tie-ups were made to "bring together our combined strengths in the residential market to benefit the overall brokerage business". It added: "HSR's associates can tap ERA's existing array of local and overseas project opportun…