SRI, a renowned real estate agency, has announced on January 1st that 111 agents from Knight Frank Singapore’s agency business, KF Property Network (KFPN), have joined their firm. This includes the head of KFPN, Evan Chung. This move has resulted in the 111 agents accounting for 40.5% of KFPN’s sales force, which was ranked sixth by the Council for Estate Agencies (CEA) in 2024.
With a sales force of 1,286 agents, SRI was previously ranked as the fifth-largest property agency. However, the addition of 111 agents from KFPN, along with recruits from the top four agencies, namely PropNex, ERA, Huttons, and OrangeTee & Tie (OTT), has boosted SRI’s sales force to 1,501 at the start of 2025.
Co-founded by Bruce Lye and Benson Koh in 2016, SRI was a spin-off from SRI5000, which the duo had established as a division of SLP Realty six years earlier. Starting with only 120 real estate agents, SRI has grown significantly and now operates out of a 2,000 sq ft shop unit on Eng Watt Street in Tiong Bahru. However, when its sales force surpassed the 1,000 mark, SRI relocated to a larger office space at Great World in 2021.
Thomas Tan, the CEO of SRI, shares that the firm has reached a major milestone by achieving nearly 1,500 real estate agents and aims to grow the team to 2,000 by the end of 2025. This expanded sales force is expected to strengthen SRI’s existing business lines, which include residential, capital markets, industrial, auctions, and international projects. Tan also highlights that many of the new agents from KFPN are involved in high-value deals, complementing SRI’s focus on luxury properties such as Good Class Bungalows (GCBs).
Despite its growth, SRI maintains its positioning as a boutique agency with a strong focus on the luxury residential market. Tan aims to transform SRI into a “thought leader in the industry, known for its high standards, niche expertise, and client-centric approach.”
Evan Chung, previous head of KFPN, now joins SRI as a leader and shares that his decision to move was driven by the firm’s dedication to equipping agents with effective tools, comprehensive support, and expert coaching. He also mentions the open and collaborative culture at SRI, making them feel supported as professionals and a team striving for excellence together. Chung believes that this will be a great platform to grow their business and serve their clients through various market segments such as residential, commercial, industrial, auctions, and international properties.
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After the departure of Chung and other agents, KFPN’s sales force has decreased to 145 agents, resulting in it dropping from sixth to eighth place among the largest agencies, 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 and they are appointing a new head to lead the agency and evaluate its strengths and expertise to strategically position itself for future opportunities.