ERA partners NTUC to strengthen real estate agents' welfare and upskilling

Business Times

22-04-2025

[SINGAPORE] Real estate company ERA on Tuesday (Apr 22) signed a memorandum of understanding with the Singapore Industrial and Services Employees' Union (SISEU) to help its agents upskill.
SISEU is an affiliate of the National Trades Union Congress (NTUC).
Under the agreement, which was inked at the consultancy's Asia Pacific Business Conference, ERA will provide NTUC membership to its corporate services employees and access to the union's workplace and welfare benefits. These include training grants such as the Union Training Assistance Programme.
ERA employees and sales representatives will also benefit from improved workplace support, access to professional development courses and discounted healthcare services, among other perks.
Additionally, both the real estate company and SISEU will collaborate to 'transform businesses and jobs' under the Company Training Committee (CTC) initiative, said Senior Minister of State in the Prime Minister's Office Desmond Tan.
The initiative aims to redesign jobs to raise productivity and worker efficiency, encourage the adoption of new technologies and upskill ERA's workforce amid industry transformation.
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Prime Minister and Finance Minister Lawrence Wong previously announced a S$200 million top-up of the CTC Grant to support companies on their transformation efforts, particularly in artificial intelligence (AI) adoption and sustainability practices.
'The CTC formed between ERA and SISEU will support our goal to equip employees with the skills and knowledge to work alongside AI,' said Tan, who is also NTUC's deputy secretary-general.
On the technology front, ERA launched two platforms to help agents better analyse and present market data.
Agents can now transform raw data into real-time strategic insights, analyse trends by region or district, and create polished, data-driven presentations within minutes, said the consultancy.
ERA also noted that the partnership with NTUC and SISEU will help agents gain critical skills to navigate a 'rapidly evolving real estate landscape'.
Buyer sentiment holds firm despite macro cloud
Trade tariffs and worsening economic conditions have resulted in 'a lot of uncertainty', but ERA Singapore's chief executive Marcus Chu believes that the residential market is expected to remain resilient.
'What we are seeing in the short term is largely a knee-jerk effect. I think the market is able to cushion the shocks, should there be any,' Chu told The Business Times on the sidelines of the conference, which drew more than 2,000 representatives.
'We have a very mature residential estate market and plenty of cooling measures, so there's a lot of room to unwind. I think our government has always taken a pragmatic approach to managing the market.'
He added that Singapore continues to be viewed as a 'safe haven', with residential assets seen as offering potential capital appreciation.
In the early days, people see buying homes as a means of putting a roof over their heads, he said, noting that he now observes more young buyers – who have higher earnings – viewing residential assets as a hedge against inflation.
Looking ahead, Chu noted that buyer sentiment among Singaporeans remains bullish in the medium to long term, though their investment horizon may extend, with growth expected to continue at a more moderate pace.
He also said that more buyers are looking at condominiums as there are more options in the market amid a rise in launches.
Notable launches over the past several months include Chuan Park, which saw some 76 per cent of its 916 units being sold on launch weekend in November at an average price of S$2,579 per square foot (psf).
Emerald of Katong sold nearly 99 per cent of its units during its launch at S$2,621 psf, and Parktown Residence recorded sales of more than 1,000 units – a feat last achieved by High Park Residences in 2015.