ERA Realtor celebrates fourth anniversary, inks JV agreement with APAC Realty

• “This JV allows both parties to leverage each other’s agent networks, share resources in training and technology, and collaborate on cross-border deals in residential, commercial and industrial properties.”

JOHOR BAHRU (Sept 30): ERA Realtor (Malaysia) Sdn Bhd marked a significant milestone while celebrating its fourth anniversary last Monday by inking a joint-venture agreement with APAC Realty Ltd.

The event took place at ERA Realtor’s office at Taman Eko Perniagaan here, which was followed by dinner, a cake-cutting ceremony and a karaoke session.

“Having a direct JV partner will allow us access to the direct network and support by ERA Singapore. ERA Realtor will also have a strong financial partner as ERA Singapore’s majority shareholder is Morgan Stanley. With an international partner, it will also improve our standing as a professional international agency, guided by values and cultures across the ERA network,” said ERA Realtor CEO, Tai Eefan.  

APAC Realty, the parent company of ERA Singapore and listed on the Singapore Stock Exchange, holds a 100% stake in ERA Realtor Group (Malaysia) Sdn Bhd, which owns 40% of ERA Realtor (Malaysia) Sdn Bhd. Together, APAC Realty and ERA Realtor will collaborate in Malaysia to drive real estate brokerage and franchising business growth.

“When APAC Realty was listed in September 2017, one of the key objectives was to expand its services and geographical footprint across the Asia Pacific region. Malaysia, given its proximity to Singapore and its standing of one of the top six economies in Southeast Asia, presents a prime market for expansion,” said ERA Singapore, ERA Asia Pacific and APAC Realty CEO, Marcus Chu.

“This JV allows both parties to leverage each other’s agent networks, share resources in training and technology, and collaborate on cross-border deals in residential, commercial and industrial properties. The timing of this partnership is ideal, with the recent launch of Forest City’s Special Financial Zone on Sept 20 and the expected finalisation of the Johor-Singapore Special Economic Zone by end of the year. These developments will boost real estate investment and economic growth in Johor.

“ERA Realtor will gain access to ERA Asia Pacific’s extensive network and support system, spanning across 13 countries and territories,” added Chu about the JV.

“This partnership is much like the Johor-Singapore Special Economic Zone — once successfully executed, it has the potential to be a game-changer for the real estate industry,” said Tai.

Meanwhile, ERA Realtor has made great strides over the last four years. From a modest start-up with just a few agents, the team has now grown to over 700 members. With one main headquarter office and four work hubs located in Iskandar Puteri, Johor Bahru, Kulai and Melaka, the network continues to expand.

Notably, a memorandum of understanding was signed with EdgeProp earlier this year to enhance ERA Realtor’s marketing tools.

To drive the spirit of entrepreneurship and develop culture strength, ERA Realtor holds monthly town hall and weekly meetings, and daily group huddles to keep everyone aligned and connected.

“Each year, top achievers are recognised at both national events in Malaysia and the prestigious Asia Pacific Awards held annually in Singapore, where thousands gather to celebrate success. Our core values — Unity, Integrity, Innovation, Gratitude and Passion (UIIGP) — are at the heart of all of our training sessions and sharing initiatives,” revealed Tai.

For its efforts, ERA Realtor was recognised as the Estate Agency of the Year by Malaysian Institute of Estate Agents for two consecutive years in 2021 and 2022.

Meanwhile, the team is on track for regional expansion within Malaysia such as Kuala Lumpur and Melaka, targeting a 30% growth rate in revenue, with a goal of reaching 1,000 agents by 2025.

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