For a service-oriented organization, proof of the consumers’ trust is like hitting gold. This was as good as a literal dream come true for PropNex, Singapore’s largest real estate company, when it won a Reader’s Digest Trusted Brand 2008 Gold award.
The Reader’s Digest Trusted Brand is based on a survey that polled 60,000 independent consumers across Asia for their feedback on brands that they felt were reliable and dependable.
Hardly new to the awards scene, PropNex is a familiar face in the SME 500 rankings, and has won Superbrands, e50.startup and Singapore’s Brand Prestige awards amongst many others. But CEO Mohd Ismail is particularly proud of the Reader’s Digest Trusted Brand Gold award.
“This award is different. This sign of trust comes from and is endorsed by our consumers. It is a tangible recognition of what is a relatively intangible quality in our industry,” emphasises Mohd Ismail.
PropNex, he continued, is the industry leader in a highly unregulated business. Since its formation in 2000, PropNex has always aimed to increase the professionalism of real estate agents and protect the interests of the consumers.
“In fact,” he noted, “our motto is ‘Service you deserve, people you trust’. We are proud and honoured that the consumers have validated this guiding principle.”
Interestingly, when then Minister of State for Defence and National Development Mr Cedric Foo officiated the opening of PropNex’s offices at HDB Hub, he commended PropNex on placing consumers’ interests and protection as its first priority. Shareholders’ remuneration was the lowest ranked priority out of seven beliefs.
PropNex firmly supports efforts to regulate the industry and raise the standard of professionalism, like IEA’s issuance of a Practising Certificate. For example, besides undergoing the extensive in-house CREST training programme and 288 days of training for continuous development, all new agents also have to cover the Propfessional Indemnity Insurance.
PropNex’s many efforts have certainly paid off with an award that’s worth more than its weight in gold.