ChannelNewsAsia: SINGAPORE : One of Singapore’s biggest real estate agencies, PropNex Realty, is firing more than one-third of its agents. According to its CEO, the move is aimed at cleaning up the profession.

PropNex is firing those who have been with them for over a year, but have yet to submit a single transaction.

About 2,800 agents currently on its list will be affected. The agents were first given a choice to remain as PropNex agents by signing up for Professional Indemnity Insurance as well as a refresher course.

- One of my friends is in PropNex but luckily he is in the IT department and not an estate agent but it will be tough if you are in the list of 2,800 agents. This is what my friend say a massive lay-off by the property market…as a “genocide” and the requirement to sign up an “Professional Indemnity Insurance” and a refresher course may spell more cost required to stay in the real estate line of work.

For those part timers, beware…full timers kindly pull up your socks and work harder. For those “octopus” who work in multiple MLM companies and also work as real estate agent…be aware of the risk of non-performance too. More real estate company may be following suit usually as the economy goes downwards…or simply wants to follow the “monkey”.

“Octopus” will squirt black ink when in danger…but this time is spill blood

Bet the next batch of model real estate agents will be the elites from China that studied in Singapore University.

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