More competition, higher costs, slowing sales could hurt property agents’ earnings

AFTER a year of robust earnings as commissions rose while transaction volumes slipped in 2022, Singapore housing agents now face increasing competition in the industry.

For a start, sales volumes have slowed this year, observed Joel Kwok, a marketing director at ERA. It is now taking a longer time to clinch a deal – from less than a month in 2021 and 2022, to around four to six weeks in the current market, said Kwok.  

Quarterly data from the Urban Redevelopment Authori…

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