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OrangeTee & Tie to compete at top echelons of real estate agency 

OrangeTee & Tie, a joint venture between real estate firms OrangeTee and Edmund Tie & Company Property Network, is now the third largest agency in Singapore. 

SINGAPORE, 28 August 2017
: OrangeTee and Edmund Tie & Company today announced the launch of a joint venture (JV) company, OrangeTee & Tie Pte Ltd. 

OrangeTee & Tie is the result of a merger between the associate agency division of OrangeTee, comprising 2,938 agents, and Edmund Tie & Company Property Network, comprising 1,122 agents as 24 August 2017. The combined entity will be more than 4,000-strong, making it the third largest associate agency in Singapore. 

Commenting on the merger, OrangeTee’s managing director, Mr Steven Tan said: “Real estate and the wider economy are going through structural changes. Digitization and the sharing economy have disrupted many traditional modes of commerce, and the market has responded by consolidating and rationalizing. 

To do well in real estate, we need to be able to create economies of scale to enhance productivity and cost effectiveness, harness adequate manpower with broad skill sets for market coverage and penetration, and leverage on technology to maximize efficiency and effectiveness.” 

Ms Ong Choon Fah, Edmund Tie & Company’s chief executive officer, added: “OrangeTee and Edmund Tie & Company Property Network are both established industry brands known for strong work ethics and high levels of professionalism. The similarity of organizational cultures is a good start towards a successful merger that is sustainable over the long term. Additionally, both firms complement each other well in terms of capabilities.” 

Edmund Tie & Company Property Network traces its origins to parent company, Edmund Tie & Company (SEA) Pte Ltd, the latter of which is a full-service property consulting firm that has extensive experience in project marketing and development consultancy, and enjoys the support of industry-leading professional services such as research, consulting, valuation, and property and hospitality management services. 

With the combined portfolio of the two firms, OrangeTee & Tie has more than 50 existing residential projects, and at least 4 upcoming launches. 

OrangeTee, on the other hand, is well-known in the industry for being at the forefront of technology. 

Mr Steven Tan said: “In today’s on-demand economy and the context of digital disruption, the importance of harnessing technology to provide greater value and respond to clients quickly is critical to secure a competitive advantage.” 

In addition to its current Work@Home application and New Property Listing Portal, Orange Tee is currently spearheading a digital platform – the Property Agents Review – to list agents’ track records for customers to rate and review. 

Between the two firms, more than 50 in-house training programmes and over 1,400 hours of training per year are available to agents. The JV is thus anticipated to create even better support and services for its agents, raise the quality of their work and professionalism, and thereby create an even more compelling value proposition for clients. 

Ms Ong said: “With 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. Agents need to shift the balance away from administrative and operational activities towards higher value-added services such as advisory expertise.” 

With the merger, associates enjoy the flexibility of working at either OrangeTee’s headquarters in Lorong 6 Toa Payoh or Edmund Tie & Company Property Network’s office in the HDB Hub. 

Expressing confidence and optimism, Mr Steven Tan remarked: “This 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.”