{"id":64786,"date":"2017-08-28T14:00:09","date_gmt":"2017-08-28T07:00:09","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/orangetee-and-edmund-tie-amp-company-merge-to-form-singapores-third-largest-agency\/"},"modified":"2017-08-28T14:04:34","modified_gmt":"2017-08-28T07:04:34","slug":"orangetee-and-edmund-tie-amp-company-merge-to-form-singapores-third-largest-agency","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/orangetee-and-edmund-tie-amp-company-merge-to-form-singapores-third-largest-agency\/","title":{"rendered":"OrangeTee and Edmund Tie & Company merge to form Singapore's third largest agency"},"content":{"rendered":"


\nOrangeTee & Tie will comprise more than 4,000 agents, making it the third largest property agency in Singapore. (Photo: Jianwei Huang)
\nHomegrown property agencies OrangeTee and Edmund Tie & Co. announced on Monday (28 August) that they will merge to form a new joint venture company called OrangeTee & Tie. No financial terms were disclosed.
\nThe combined entity will comprise a total of 4,060 agents, making it the third largest property agency in Singapore, pushing it ahead of Huttons Asia with over 3,000 agents.
\nOrangeTee & Tie will also have a combined portfolio of more than 50 residential projects and at least four upcoming launches.
\n\u201cThis merger has been a carefully considered exercise, and we have planned for a growth trajectory that will propel us to become a leading agency in Singapore, both through organic growth and mergers and acquisitions,\u201d said OrangeTee\u2019s managing director Steven Tan.
\nEdmund Tie & Co. has extensive experience in project marketing and development consultancy, while OrangeTee is well-known for promoting technology.\u00a0
\nIn addition to its current work@home application and new property listing portal, OrangeTee is also spearheading a digital platform \u2013 the Property Agents Review \u2013 to list agents\u2019 track records for customers to rate and review.
\n\u201cWith more and more routine tasks being automated or superseded by technology, there is an urgent need for agents to embrace technology, upskill themselves and move up the value chain,\u201d said Ong Choon Fah, Edmund Tie & Co\u2019s CEO.\u00a0
\n\u201cAgents need to shift the balance away from administrative and operational activities towards higher value-added services such as advisory expertise.\u201d
\nThis latest announcement comes two months after a merger between PropNex Realty and Dennis Wee Group made it the largest agency in Singapore with 6,743 agents, according to the Council for Estate Agencies registry as of 27 August.
\nMohamed Ismail, CEO of PropNex Realty, said more agencies are consolidating to remain competitive.
\n\u201cUnlike previous years, we are witnessing a change in the real estate industry scene in 2017. Many small to mid-sized firms might choose not to continue operating on their own and will instead consolidate their business with the bigger players.
\n\u201cI believe that at best, the market today can only afford to have four bigger agencies operating successfully. Over time, only two agencies will eventually dominate the industry,\u201d he said.
\nPropNex is expecting at least 500 agents to come on board in 2018, and just announced a new $5 million training and development roadmap to help its agents improve their skills.\u00a0
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, wrote this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…OrangeTee and Edmund Tie &amp; Company merge to form Singapore’s third largest agency<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

OrangeTee & Tie will comprise more than 4,000 agents, making it the third largest property...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-64786","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-gQW","jetpack-related-posts":[{"id":64790,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/orangetee-and-edmund-tie-merge-to-form-singapores-third-largest-agency\/","url_meta":{"origin":64786,"position":0},"title":"OrangeTee and Edmund Tie merge to form Singapore's third largest agency","date":"August 28, 2017","format":false,"excerpt":"\r The new joint venture company called OrangeTee & Tie will comprise more than 4,000 agents, pushing it ahead of Huttons Asia. (Photo: Jianwei Huang) Homegrown property agencies OrangeTee and Edmund Tie & Co. announced on Monday (28 August) that they will merge to form a new joint venture company\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":68628,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/property-agencies-merge-tap-into-tech-as-real-estate-market-goes-increasingly-online\/","url_meta":{"origin":64786,"position":1},"title":"Property agencies merge, tap into tech as real estate market goes increasingly online","date":"October 10, 2017","format":false,"excerpt":"\r Lower commissions, developers being less dependent on agents, and digital disruption are posing threats to Singapore agencies, says industry veteran. The property agency industry has been abuzz with recent mergers and how technology is disrupting the way agents do business. It started in June when PropNex Realty announced a\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":118615,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/savills-residential-to-merge-with-huttons-asia\/","url_meta":{"origin":64786,"position":2},"title":"Savills Residential to merge with Huttons Asia","date":"September 15, 2020","format":false,"excerpt":"\r Marcus Loo, CEO of Savills Singapore. Photo: Savills Singapore. Savills Residential, the associate\u2019s arm of Savills Singapore, will merge with Huttons Asia, making it the latest consolidation among property agencies in Singapore, reported The Business Times (BT). With the merger, Hutton\u2019s current pool of 3,044 brokers will be strengthened\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":111022,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-condo-prices-in-ccr-rose-10-5-in-q2\/","url_meta":{"origin":64786,"position":3},"title":"New condo prices in CCR rose 10.5% in Q2","date":"September 24, 2019","format":false,"excerpt":"\r This significant price hike of new home sales could be due to the increased demand for luxury homes during the period under review. Image source: OrangeTee The average price of new condominiums in the Core Central Region (CCR) rose 10.5 percent to $3,014 per square foot (psf) in the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":118092,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hdb-resale-market-avoided-major-price-correction-during-pandemic-orangetee-amp-tie\/","url_meta":{"origin":64786,"position":4},"title":"HDB resale market avoided major price correction during pandemic: OrangeTee &amp; Tie","date":"August 5, 2020","format":false,"excerpt":"\r Despite the COVID-19 pandemic and circuit breaker measures, HDB resale prices remained stable. However, HDB resale transactions fell by over 41.9% to 3,426 units during Q2 2020.\u00a0 Despite the COVID-19 pandemic and the uncertain global economic outlook, Singapore\u2019s HDB resale market avoided a major price correction, with prices remaining\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":118076,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/property-prices-to-remain-soft-in-the-coming-months-orangetee\/","url_meta":{"origin":64786,"position":5},"title":"Property prices to remain soft in the coming months, OrangeTee","date":"August 4, 2020","format":false,"excerpt":"\r Property prices are expected to remain soft in the coming months due to escalating tensions and growing economic uncertainties. The future of Singapore\u2019s property market remains uncertain and a full recovery may take a while, given the evolving COVID-19 pandemic and the impending macroeconomic crisis, according to OrangeTee &\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/64786"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=64786"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/64786\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=64786"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=64786"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=64786"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}