April 9, 2020

In light of the challenging times ahead, PropNex is rolling out a $30 million Resilience Support Plan (PRSP) to help their 8,500 agents to tide over this period.

Ismail Gafoor, CEO of PropNex commented, “In view of the ‘Circuit Breaker’ announcement on 3 April 2020 by PM Lee, there will be further restrictions on the conduct of real estate business and thus we are concerned for our salespersons’ cash flow situations. While there are a lot of uncertainties, it is our utmost priority to assure our sales force that the PropNex Resilience Support Plan (PRSP) is aimed at easing their financial commitments during this unprecedented period.”

“PropNex would like to express our gratitude to all Singaporeans and the frontline heroes who are fighting the virus by contributing $750,000 to our community,” added Ismail.

“PropNex has already invested in IT infrastructure that enables our salespersons to get access to quality real-time trainings. We are fortunate that we had strengthened and enhanced our Virtual Office features and PropNex PA app in empowering our salespersons to do presentations to clients, sign transaction e-forms, post listings, co-broke on a huge internal agent network and submit cases online. We are continuing to stay connected via online platforms such us ZOOM, Webinar, Live Streaming, Videos and other means to keep our sales force abreast with market trends and directions,” concluded Ismail.

The $30m PropNex Resilience Support Plan (PRSP) mainly includes 1. $25m Advance Commission Scheme, 2. Another $1.2m Advance Management Fee for PropNex Team Leaders Payouts, 3. $1.25m Team Leaders’ Advance Pension Fund, 4. $1.7m Convention Fee and Training Subsidies, 5. $100,000 Rebates on Business Costs, 6. $750,000 In support of the Community.