Mr. Louis Chan

As there are ups and downs in Hong Kong's property market, frontline property agents often face uncertainties in their careers. In an attempt to meet performance targets, the agents may feel stressful and discouraged sometimes. Centaline Property Agency Limited's management is always concerned with how to alleviate the employees' pressure. During the peak seasons, Centaline adopts various award schemes to boost the employees' morale; during the low seasons, the company emphasizes brand building to help agents explore more business opportunities. With the solicitude for the well-being of its employees, Centaline has been rewarded The Employer of Choice Award for consecutive years.

Established in Hong Kong 40 years ago, Centaline's business is currently covering Hong Kong, mainland China and the Asia-Pacific region, and has become a well-known brand. Having rewarded The Employer of Choice Award and Asia Pacific Outstanding Employer Award for 5 consecutive years, Mr. Louis Chan, Vice Chairman and Chief Executive Officer (Residential)  Asia Pacific of Centaline Property Agency Limited, said the awards give recognition to the employees' efforts. "Centaline always emphasizes gaining social recognition and clients' support. Every stakeholder is delighted for Centaline receiving the Awards again."

Numerous Cash Prizes to Boost Employees' Morale

In 2018, there was a whirlwind of ups and downs in the property market. As an outstanding employer, Louis believed keeping the employees' morale high during the challenging moments was essential. "In the first three quarters in 2018, the property market was prosperous, attracting numerous youngsters to enter into the property industry. However, staring from the 4th quarter, there was a decline in the property market, resulting in resignations every month. It is known that salaries of property agents mainly consist of commissions. During the peak seasons, the agents' salaries are attractive. During the low seasons, their salaries are influenced adversely. Therefore, we have established several award schemes to retain passionate talents in the property industry.

Taking the sales of first-hand residential properties as an example, it usually takes over two years for the agents to get their draws on the sales commissions. Therefore, Centaline has established a reward scheme for agents to draw a certain part of their sales commissions in advance; hence, they can obtain liquidity more easily. Besides, Centaline has established the "Market Share Award". When a branch or a team is excellent in expanding market shares, they will receive cash rewards and subsidies for celebration feasts.

Besides monetary rewards, Centaline always emphasizes team spirit. Through providing travel rewards, training programmes and diversifying recreational activities, Centaline aims at strengthening employees' morale and team spirit. "We have numerous ways to boost their morale. Since the employees appreciate travel rewards the most, Centaline Eagle Club has arranged outstanding agents to visit France, and members of branches with satisfying performance to visit Japan and Thailand. Besides, when a team has met the performance targets, members will be provided with subsidies for hosting banquets and activities. The aim is to raise the employees' morale.

Block Trade Experience Sharing Session

Louis mentions that Centaline has newly introduced the "Block Trade Experience Sharing Session", arranging agents from Hong Kong and mainland China to share their experience in closing the deal of a block trade. "This year, there are numerous cases of block trades in Shanghai and Shenzhen; hence, we have organized many exchange tours, to enable these elite agents in mainland China to share their successful experience in block trades, and let coworkers create more business opportunities. Frankly, it is a honor to be invited to participate in the Sharing Session.

It is unavoidable that property agents sometimes feel stressful to meet performance targets. Louis admits that the frontline agents may be under tremendous pressure . "Undeniably, agents may often feel discouraged. From the perspective of an employer, it is essential to express the company's solicitude for the well-being of its employees, especially during the low seasons. Maintaining a positive relationship between the employer and employees is vital to raise workplace efficiency and business competitiveness. This is a clear and definite goal for Centaline! During the peak seasons, Centaline can earn more and achieve a financial surplus; however, during the low seasons, the company will organize different activities to encourage employees to continue striving for excellence. For instance, Centaline Club regularly organizes wine tasting events and music concerts for the employees and their clients. This helps building client loyalty, whilst encouraging work-life balance among the employees, adding colours to their careers.

Agents are Destined to Face Challenges

There are peak and low seasons in the property market. In the first three quarters, it was regarded as the peak seasons; however, starting from the 4th quarter, the trade volume had shrunken and the entire property industry was facing manpower losses. Thriving through ups and downs in the property industry, Louis said for anyone who wants to enter into this industry, he must get psychologically prepared and ready for the feature of this industry.

"There is always a cause-and-effect relationship in running business. Diligence is of utmost importance and there is no free lunch. Working harder for higher pay is always true. Agents should aim at long-term career goals in order to thrive through the ups and downs." In addition to diligence, Louis believes staying optimistic and mastering sales strategies are the keys to success. "You must take the initiative to explore business opportunities. You can keep on daydreaming or stay downto- earth to take the initiative to call your clients. However, in recent years, the public generally dislike cold calls. Therefore, agents should be smart at making and controlling the number of cold calls."

Portable Database to Keep Abreast with the Digital Age

Utilizing innovative technology has become a world trend. Centaline has spent countless amount of resources in introducing IT elements to its business. In 2018, Centaline had spent over 100 million on upgrading its hardware and software. Throughout the years, Centaline has always been a leader in incorporating IT elements into their business. The introduction of CentaMap, and the recently launched mobile app and website for online property viewing services, are some of the innovative examples.

In 2018, uploading information about the second-hand residential properties onto the Cloud was the latest and most important breakthrough in Centaline. Centaline's employees can use their phone numbers to log onto the Cloud server to browse information about the second-hand residential properties regardless of time and spatial constraints.

The possession of information about the second-hand residential properties is the greatest wealth of Centaline. It is brave for Centaline to allow its employees to access to such information through mobile phones. In fact, such an act makes Centaline a pioneer in the local property industry. Of course, Centaline trusts its employees. Meanwhile, security measures have been employed to safeguard such important information." Louis said even though such an online service has just been offered for the first year, it receives highly positive comments from the employees. This does not only allow them to browse information about the second-hand residential properties anytime and anywhere, but also enables them to response to clients' inquiries more quickly. As a result, their work efficiency has been raised significantly.

At present, the property industry is in its low seasons. Louis was asked whether the company's recruitment strategy would be affected. Admittedly, Louis said "survival of the fittest" is always a golden adage. In reality, there is 3-5% of manpower losses in the property industry every month. Therefore, property agencies must keep on recruiting new employees, and allocate more resources in organizing diversifying activities to retain talents. As mentioned, Centaline Club organizes different events and seminars for employees and clients, aiming at raising their loyalty to the company.

"In 2013, we celebrated for the company's 35th anniversary and established Centaline Club, with an objective of bonding our employees and clients. "3C", which comprises "Centaline", "Care" and "Culture" are the core values of Centaline Club. Through building an interactive platform, we anticipate our clients can gain better customer experience about property agency services!"

Louis said Centaline Club has two clubhouses. One is in Tsim Sha Tsui, and another one is in Causeway Bay. Every month, Centaline Club organizes numerous cultural events and sharing sessions. Some events are particularly memorable. Taking the singing performance of Vienna Boys Choir Music Academy as an example, it was sponsored by Centaline Club and Centaline's employees and clients can enjoy a high-quality concert. By hosting such an event, it echoes with Centaline's objective of gathering talents from around the world, bringing property agency services to a new height.