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Three major forces have changed advertising since Don Draper last prowled the corridors of Sterling Cooper. Silk's decades of research finds an industry that, while evolving in fundamental ways, is healthy and creative.
are well acquainted with the mystique of the advertising business, circa 1960s, where relationships were consummated over martinis and campaigns fashioned through the wizardry of creative director Don Draper, swooping into the pitch meeting at the eleventh hour with his latest brilliant inspiration.
ERA Realty key executive officer Eugene Lim, whose firm crossed 6,000 agents, said that gross commissions grew by 20 per cent or more last year as the firm focused on serving sellers and developers, and diversifying its revenue sources by market segments in order to close more deals.
"We are also using technology to improve our productivity so agents can advise on the most current selling prices and trends." At Singapore's second-largest agency, Prop Nex, gross commission also grew by more than 20 per cent in 2016 from 2015, marking a record in terms of absolute commissions earned and percentage growth since its inception 16 years ago, said its CEO, Ismail Gafoor, adding that net profit also grew in tandem.
A 10-15 per cent drop in the number of agents across the top 10 property agencies here could be seen after the latest licence renewal exercise.
This came despite some of the biggest agencies here having clocked higher gross commissions last year, reinforcing the adage that size does matter in this industry.
Singapore SINGAPORE'S property agency industry continues to shrink as more agents throw in the towel and smaller agencies close shop amid keen competition in a tepid market, with technological disruptions also nibbling at the transactions pie.For decades, advertising agencies have thrived on, and in some ways fostered, the idea of advertising as a creative black box."How you get a breakthrough campaign rather than a run-of-the-mill one has long been the burning question for clients and their agencies," says Alvin J.Unless, of course, Expedia buys Priceline next month (or vice versa).Travel industry executives, analysts and regulators debate whether such consolidation inspires healthy competition.