Published April 24, 2007

HSR gets nod as S'pore's largest real estate agency

REAL estate agency HSR International Realtors has been endorsed by The Singapore Book of Records as 'the largest real estate agency' here, with more than 5,000 agents.

HSR also registered an 18 per cent increase in transaction value in 2006 compared with 2005. Transactions in 2006 totalled $5.6 billion, versus $4.73 billion previously.

Chief executive officer Patrick Liew said that growth began in 2003: 'We completely re-engineered the company.' The buoyant market has been lured more recruits. In recent months, HSR has recruited about 120 new agents a month, said company president Dennis Yong.

They are lured by the chance to earn big bucks. Mr Yong said HSR's top performer registered transactions of $100 million in 2006. Commissions vary but are generally one or 2 per cent.

The Singapore Accredited Estate Agencies (SAEA) Scheme requires that all real estate agencies have their agents accredited by Jan 1, 2009. And getting accreditation for agents includes passing the Common Examination for House Agents (Ceha). Mr Yong reckons only about 50 per cent of practising agents have passed Ceha's exam. HSR conducts in-house Ceha classes to help get its agents accredited.