How Marcus Chu’s CEO appointment became key for ERA’s growth
He has been instrumental in the company’s delivery of solid financial performance.
Over the past year and despite a challenging economic environment, ERA Realty Network has experienced multiple successes and achievements due to the vision, leadership, and dynamism demonstrated by its leader and CEO, Marcus Chu.
Having been in the position for over a year, his succession came at a crucial time when the pandemic was prevalent. The housing market experienced unprecedented growth as the industry went through a transformation.
With numerous activities surrounding the real estate market, Chu's appointment was instrumental in driving further growth for the ERA business by bringing about key organisational changes.
The CEO has delivered a solid financial performance for ERA, as the company’s net profit increased by 116% and its revenue grew by 87.2% in FY2021 against the previous year. ERA also accounted for 40.3% of all property transactions in Singapore in FY21.
Under Chu’s leadership, ERA also launched its Asia Pacific headquarters in Singapore, which advanced the company’s market leadership and presence in Singapore and the region. He also established two new niche and exclusive business units, Capital Markets & Investment Sales and Luxury Homes Divisions, to capture market share in big-ticket real estate investments such as commercial, industrial, and good-class bungalows.
Meanwhile, as the pandemic accelerated the digital transformation initiatives in the real estate sector, ERA also launched its proprietary SALES+ super app to strengthen its prop-tech capabilities to cater to the industry’s evolving demands.
SALES+ features a robust suite of solutions aimed to empower its agents to serve their clients efficiently, including the latest industry trends, analytics, and reports. Comprehensive training sessions are also held regularly to equip ERA agents with its new app solution. Demonstrating an enhanced and digitally equipped agent network, the SALES+ app was also widely adopted, with over 6,500 downloads as of October 2022.
These achievements, amongst others, have brought recognition not just to ERA but to Chu himself. The SBR Management Excellence Awards recognises Chu’s efforts and awarded him the Executive of the Year - Real Estate Agency award.
The prestigious awards programme honours individuals or teams that have made a huge contribution to the companies’ success and Singapore’s growth. At the same time, the programme will also honour employee engagements and COVID management initiatives that made a positive impact on its workforce or customers.
The SBR Management Excellence Awards is presented by Singapore Business Review Magazine. To view the full list of winners, click here. If you want to join the 2023 awards programme and be acclaimed for your company's employee engagements and management initiatives, please contact Julie Anne Nuñez at email@example.com.