Transforming the real estate agency business to better relate to customers and tap demand from younger homebuyers. That’s what we’re going to talk about today.

Launched in February 2000, our guest OrangeTee aspires to be a reputable, dynamic and fast growing real estate enterprise in Singapore.

The firm prides itself on building trust and long-term relationships and its ability to embrace the old and new to thrive in the realty space.

More notably, the associate agencies of OrangeTee and Edmund Tie & Company had in 2017 merged to form OrangeTee and Tie, a move that puts the workforce of the combined entity of over 4,050 property agents.

Now, OrangeTee is an interesting company to look at because of a number of things. First of all, the company had a leadership reshuffle at the start of this year, where it appointed a new CEO, Justin Quek, who thereafter headed a brand refresh at the company in a bid to underline the firm’s commitment to simplify the real estate experience.

More importantly, the firm also appears to be on the charm offensive to tap a growing group of younger homebuyers and increase productivity.

One way it is doing so, is by engaging younger property agents and enabling agents to increase the transaction size of their deals. It is also in the midst of an internal revamp to make the once “agent-centric” business a more “consumer-centric” one, with a consumer-focused “Property Festival” in store for Q3.

But how much money can the firm unlock by tapping the younger demographic and what challenges does the company face given the amount of cooperation needed from its thousands of agents to transform the way the firm sells houses?

On Under the Radar, The Evening Runway’s finance presenter Chua Tian Tian posed these questions to Justin Quek, Chief Executive Officer, OrangeTee.

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