PropertyLimBrothers co-founder returns to PropNex with 36 salespersons, still a PLB shareholder

A PropertyLimBrothers (PLB) co-founder has returned to PropNex Realty, bringing with him 36 salespersons.

In a PropNex news release, the firm stated that PLB co-founder Adrian Lim started his real estate career in PropNex in 2010 before departing in 2022.

PropNex said: "As of today, 22 salespersons from PLB Realty Pte Ltd have successfully joined PropNex, with a further 15 salespersons currently pending approval from the Council for Estate Agencies (CEA)."

Adrian returns to PropNex as Senior Associate Group District Director, four months after allegations of an extramarital affair resulted in two of PLB's leaders quitting.

'Natural decision'

Before joining the real estate industry, Adrian was a prison officer, along with PLB co-founder Melvin Lim, both of whom transitioned out of the civil service in 2007.

The news release noted that Adrian "established himself as a top-performing leader and consistent PropNex Millionaire.

Commenting on his return, Adrian said: "Returning to PropNex felt like a natural decision for us."

"The company's strong culture, extensive network, and commitment to innovation provide an excellent platform for our team to continue growing and delivering value to clients."

Chief Executive Officer of PropNex, Kelvin Fong, said, "We are delighted to welcome Adrian and his team back to the PropNex family."

"Adrian has built a highly respected brand within the industry and is recognised for his creativity, strong digital presence, and innovative approach to property marketing."

No longer in operational role at PLB

The Straits Times (ST) reported that while Adrian is still a PLB shareholder, he does not hold any positions or directorship in the company.

When asked what his return means for PLB, Adrian told ST that he is no longer in an operational role in the company and would not be able to comment on its operations, strategy, or any ongoing matters.

According to ST, PropNex has 14,387 agents as of May 13, making it Singapore's largest agency by headcount, while PLB has 53 registered agents.

PLB was founded in 2017 and had a revenue of about S$6.5 million in 2023.

Fallout

In February, PLB lost its top agent, Rayne Chua and her team to real estate agency ERA.

On Mar. 9, Adrian told ST that PLB was tightening governance and had launched an anonymous whistle-blowing channel for employees.

Lim said: "In March, I spoke publicly about strengthening trust and governance at PLB. That work mattered then, and it remains important."

"As circumstances have evolved, my responsibility to my clients and to the team I lead has had to come first."

In April, PLB denied reports about the extent of layoffs in its media arm.

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