Freelance real estate agents seen as way to boost business and cut costs
Savills leads charge in recruiting 'partners' with the idea they will sell properties to people in their professional or social networks
International property agencies are recruiting freelancers from different industries to expand businesses amid poor market sentiment.
Property agency Savills is recruiting people to set up what it calls "partnerships".
In the partnership or "associate" system, the recruit continues to work in his or her existing job while also selling property for Savills. They are paid a 50 per cent commission on any deals they broker, compared with the standard 20 per cent paid to in-house agents.
But they do not get paid the retainer paid to most standard in-house agents.
The partnerships will operate under the umbrella of Savills Associates, a subsidiary set up in Hong Kong two months ago.
"We believe Hong Kong is mature enough to introduce the partner system," said Keith Chang Chok-kee, managing director at Savills Realty.