Over 100 Agents Knight Franks Kf Property Network Make Leap Sri
On January 1st, SRI, a real estate agency, announced that it had acquired 111 agents from Knight Frank Singapore’s agency business, KF Property Network (KFPN). This included KFPN’s head, Evan Chung. The 111 agents make up 40.5% of KFPN’s sales force as of January 1st, 2024, when it was ranked the sixth-largest property agency by the Council for Estate Agencies (CEA). SRI now has 1,501 agents, making it the fifth-largest property agency, thanks to the addition of agents from KFPN and other leading agencies such as PropNex, ERA, Huttons, and OrangeTee & Tie (OTT).
Co-founded by managing partners Bruce Lye and Benson Koh in 2016, SRI was previously known as SRI5000, a division of SLP Realty. When it was established, it had 120 agents operating out of a 2,000 sq ft shop unit on Eng Watt Street in Tiong Bahru. As the sales force grew to over 1,000 agents, SRI relocated to a 4,200 sq ft office space at Great World in 2021. Today, SRI has reached nearly 1,500 agents and is targeting to expand to 2,000 by the end of 2025, according to CEO Thomas Tan.
The increased sales force is expected to strengthen SRI’s existing business lines, which include residential, capital markets, industrial, auctions, and international projects. According to Tan, many of the new agents from KFPN are involved in big-ticket deals, which complement SRI’s focus on the luxury property market, including Good Class Bungalows (GCBs) and other high-end properties.
Situated just a brief car ride away from Toa Payoh, Balestier Plaza provides a serene and relaxed shopping atmosphere. The diverse selection of shops offers everything from electronics to textiles, catering to a variety of needs. In addition, the plaza boasts a few food outlets, making it an ideal destination for a peaceful afternoon away from the busy city center. With a mix of both traditional and modern stores, Balestier Plaza truly captures the distinctive charm of the surrounding area, which is known for its rich history and local dining establishments. And with The Orie now part of the plaza, visitors can expect an even more dynamic shopping experience.
Despite its growth, SRI continues to position itself as a boutique agency with a strong focus on the luxury residential market. Tan’s vision is to make SRI a thought leader in the industry, known for its high standards, niche expertise, and client-centric approach. Former KFPN head Chung, who has joined SRI as a leader, states that the agency’s dedication to equipping its agents with effective tools, comprehensive support, and expert coaching was a major factor in his decision to move. He also notes the open and collaborative culture at SRI, which fosters excellence and teamwork.
As a result of the departure of Chung and other agents, KFPN’s sales force has decreased to 145 agents, and its ranking has dropped from sixth to eighth largest agency, according to CEA public register figures as of January 1st. However, Knight Frank Singapore’s CEO, Galven Tan, assures that it is business as usual at KFPN. He states that the agency will be appointing a new head to lead KFPN and will strategically position the team for future opportunities based on its strengths and expertise.