It was just in 2017 that OrangeTee and Edmund Tie & Company announced a new joint venture called Orange Tee and Tie (OTT) to form the third biggest property agency in Singapore with more than 4,400 agents.
How things have changed though.
With a recent big exodus from Orange Tee and Tie (OTT) toward other real estate agencies, there’s a real possibility that the “big four” will soon become the “big three”. Singapore’s real estate firms now resemble an oligopoly, with possibly just three “power players” dominating the market. But is this a healthy situation for homebuyers?
The state of Singapore realtors today
If you’re looking to buy or sell a home, you’ll notice there seem to be just four agency names: Propnex, ERA, OrangeTee & Tie (OTT), and Huttons.
These are the numbers reported by The Business Times:
It’s estimated that the “big four” account for at least 80 per cent of active realtors in the market....