Hong Kong’s two biggest property agents Midland and Centaline to reward sales reps with ‘lai see’ to drive Lunar New Year revenues

From now until February 14, Midland Realty will reward agents with HK$2,000 for every flat they sell, and half that amount for each one they manage to lease

A huge windfall of HK$90,000 will come the way of any Centaline rep who manages to sell a new property worth more than HK$50 million

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Ahead of Lunar New Year, Midland gave sales reps a red packet containing HK$500 for every transaction – both rentals and sales – achieved in the primary and secondary market. Photo: Jonathan Wong

Published: 12:00pm, 12 Feb 2021Updated: 12:00pm, 12 Feb 2021

Hong Kong’s two biggest real estate agents, Midland Realty and Centaline Property Agency, are ready to hand out “lai see” money totalling about HK$900,000 (US$116,000) to their agents as an incentive to sell flats during the Lunar New Year holiday.

Meanwhile, Henderson Land Development will give away lai see of as much as HK$23,000 to each buyer at eight residential projects going on sale from now until the end of the month. The Year of the Ox begins today (Friday, February 12).

From now until February 14, Midland Realty will reward agents with HK$2,000 in lai see for every flat they sell, and half that amount for every one they manage to lease, said Sammy Po Siu-ming, chief executive of the agency’s residential department.

“We expect to give away about HK$400, 000 to HK$500,000 lai see in total as incentives to encourage sales,” said Po.

Hongkongers traditionally hand out lai see – red paper packets filled with “lucky money” – during Lunar New Year, as well as on auspicious occasions like birthdays and weddings.

Hong Kong’s two biggest property agents Midland and Centaline to reward sales reps with ‘lai see’ to drive Lunar New Year revenues

From now until February 14, Midland Realty will reward agents with HK$2,000 for every flat they sell, and half that amount for each one they manage to lease A huge windfall of HK$90,000 will come the way of any Centaline rep who manages to sell a new property worth more than HK$50 million

From now until February 14, Midland Realty will reward agents with HK$2,000 for every flat they sell, and half that amount for each one they manage to lease

A huge windfall of HK$90,000 will come the way of any Centaline rep who manages to sell a new property worth more than HK$50 million