Teo Poh Siang is a prominent figure in Singapore’s strata management industry, boasting 35 years of dedication to property consultancy, information management, and training. In this interview, Teo discusses his journey from a fresh graduate to establishing Wisely 98 Pte Ltd, highlighting the transformative role of technology in strata management and Wisely 98’s position as a “Digital Strata Managing Agent.
- Can you share with us how your journey led you to the field of strata management and what ignited your passion for it?
As a boy, I dreamed of becoming a doctor, but a disappointing exam result in the Singapore-Cambridge GCE’ O’ Level Examination in 1978 shattered that dream. Undeterred, I stumbled upon the obscure “Building Maintenance & Management” course at Ngee Ann Technical College. Despite my initial unfamiliarity, I found myself unexpectedly captivated by the world of building management.
My dedication paid off, and I secured the Ngee Ann Kongsi Scholarship, graduating as the Third Most Outstanding Graduate in 1982. This early success propelled me into a career as a Property Executive, managing diverse strata properties for international consultancy firms.
Driven to deepen my expertise, I pursued regulatory training, becoming a Registered Salesperson in real estate. Simultaneously, I earned a Bachelor of Real Estate (Valuation) Honours from the National University of Singapore, all while working part-time.
- Can you share a pivotal moment that influenced your decision to establish Wisely 98 Pte Ltd?
Driven by a passion for steering the future of building management, I recognized the vast potential in this evolving field. After five years as the linchpin of the property management division at my previous firm, I approached my boss, eager to acquire a stake in the company. However, my aspirations were rebuffed – I was not the partner they envisioned.
Undaunted, I quit and established Wisely Property Consultants Pte Ltd in 1993, operating from a modest 50-square-foot office with just two tables. This fledgling practice provided strata management services for commercial buildings and real estate agency services. As my business flourished, I consolidated operations under Wisely 98 Pte Ltd in 1998, expanding into the condominium management sphere.
- Could you share an example of a project where you’ve significantly impacted the strata management community?
Like any industry in Singapore, manpower shortages posed challenges exacerbated by the COVID-19 pandemic. As a leader, I knew differentiation was key. In early 2021, my company was appointed Managing Agent for The Floravale, a 20-year-old condominium with 754 units still relying on paper-based operations. Tasked with modernizing the estate, we acquired the Qornerstone Estate Enterprise System (QE) with support from IMDA’s Capability Development Grant.
Data management is critical in strata management, and QE’s cloud-based platform brought transparency, accessibility, and streamlined operations. We reduced physical visits and service requests by encouraging residents to use the Qommunity Resident App (QR) for estate matters. Furthermore, implementing Qommunity Smart Access allowed visitor entry via mobile devices, saving The Floravale around $60,000 annually by eliminating a dedicated security officer. We’re implementing further digital enhancements across estates, driven by a vision to propel this sunrise industry into the future through innovation and operational excellence.
- Could you tell us how technology is transforming the industry and what role Wisely 98 Pte Ltd plays in this transformation?
Transitioning to the strata management industry was an uphill battle, requiring a mindset shift from all stakeholders. Abandoning old methods and embracing new technologies demanded perseverance and commitment from leadership.
Wisely 98 took the lead, pivoting from manpower-centric to system-centric. This new approach involves implementing better online platforms, mobile Apps, IoT, and management software that streamline the strata management process, making it easier for residents/occupants to access information and interact with their management committees and strata managers. We call ourselves the Digital Strata Managing Agent.
- What inspired you to write “A Practical Guide to Strata Management in Singapore,” and what unique insights does your book offer readers?
As a strata practitioner, finding comprehensive guidance on managing developments was arduous, with information scattered across various sources. The thought emerged: What if a singular resource covered Singapore’s strata management essentials?
Existing books lack specific guidance for managing agents and strata managers, leaving a crucial gap. While legal and industry professionals offered insights, there was no holistic practitioner’s guide.
Filling this void, “A Practical Guide to Strata Management in Singapore” became a Singaporean strata practitioner’s first and only book. It lists A-to-Z practical solutions, procedures, and checklists for common strata management issues.
The 2nd Edition offers updated coverage of the BMSMA amendments effective February 2019, guiding readers through daily operations, management, finance, and preventive procedures. With over 30 legislations, a code of practices, and 75 case studies distilled into simple language, this comprehensive guide provides practical insights and real-life anecdotes to make legal and technical aspects accessible to managing agents and strata managers.
- As an expert in strata management, what challenges do you see emerging in the industry?
The strata management landscape is often underestimated, with practitioners hiring untrained personnel and providing little to no training, operating under the misconception that this field is accessible to all. However, new entrants are often caught off guard by this profession’s broad and deep expectations. Intense competition, occasionally driven by price wars, further compounds the challenge.
With over 428,000 condominium units in Singapore, collectively valued at over S$428 billion, delivering tangible value becomes the differentiating factor. Trained workforces and tailored services set strata managing agents apart in this high-stakes industry.
Creative service packages that blend physical human interaction with digital solutions—a “phygital” approach—are essential to staying ahead. Personnel must be willing to embrace constant client appraisals, with rewards tied to meeting key performance indicators and achieving high standards.
