Productivity, presence, and partnerships, are three key areas OrangeTee intends to drive this year.
Real estate enterprise OrangeTee & Tie has announced Justin Quek as its new Chief Executive Officer, taking over from Steven Tan, and aiming to ‘come back with a vengeance’ through a big brand refresh.
“After over 20 years of being in the business, we're spending quite a bit of effort to come into the industry, again, come back with a vengeance with a big brand refresh this year. So that's increasing our presence, and partnerships,” Quek said.
Quek brings a strategic vision centred on three key pillars – productivity, presence, and partnerships – to drive the company's growth in the real estate industry.
"We are focusing on enhancing our productivity per capita, which means improving the earnings and productivity each agent brings to our business," he said. This focus on individual performance marks a shift from the traditional numbers game that many agencies play.
In addition to productivity, Quek emphasised the importance of brand presence. "With over 20 years in the business, we are planning a significant brand refresh this year to make a strong re-entry into the industry," he stated.
He recognized the potential in leveraging the formidable partners at OrangeTee's shareholder level. "We intend to capitalise on these partnerships to strengthen our position in the market," Quek noted, highlighting the importance of collaboration in the real estate sector.
Addressing the challenges facing the industry, Quek pointed out the impact of government policies and technological disruption. "The real estate market in Singapore is heavily regulated, and policy changes can significantly affect our business volume," he explained.
Additionally, technological advancements have diversified the business, introducing new models that bypass traditional agents and embrace direct buyer-seller interactions.
To tackle these challenges, Quek's strategy involves promoting consumer centricity and expanding income verticals. "Our goal is to bring more customers into the OrangeTee ecosystem, enhancing engagement between our advisors and clients," he said.
This customer-focused approach aims to empower consumers and provide them with more informed choices in the real estate market.
Furthermore, Quek sees opportunities in catering to the evolving preferences of Singaporean buyers. "With a strong Singapore dollar, there's a growing interest in investing in overseas properties. We plan to cater to this trend by expanding our offerings to include international real estate investments," he added.
Looking ahead to 2024, Quek anticipates a vibrant market with an influx of new launches, presenting both opportunities and challenges.
"Interest rates remain high, and affordability issues persist. However, our robust research department provides reliable market data, enabling consumers to make well-informed decisions," he asserted.