![]() ![]() Several real estate agencies and associations are supportive of this initiative. We wanted to create an effective platform that can provide transparent and fast information that would be beneficial for consumers, (agents), and even property developers.” Said CEO of ERA Realty Mr Jack Chua, “In times of digital disruptions, the three of us knew that the time is right to work together, embrace innovation and technology, and add value to industry stakeholders. ERA Realty, Huttons Asia, and PropNex Realty, under the SoReal umbrella, will govern the data on the SoReal platform comprising information and listings from 16,000 agents from across the agencies. On 12 March, three of the industry’s biggest agencies came together to launch the SoReal Prop portal, RealAgent app, and RealHome app. (Image: Ministry of National Development) ![]() ![]() The future evolvement of FPA and our other technological solutions specially developed to increase agents’ productivity…such as (our) mobile applications, website, customer relationship management system, and an internal portal… will play an important role in the digital transformation progress for the industry.” #2: Exploring new partnerships that will benefit both the industry and consumers Minister for Social and Family Development and Second Minister for National Development Mr Desmond Lee (second from right) launching SoReal with (from left to right) Mr Jack Chua (CEO of ERA Realty), Mr Jeremiah Ng (CTO of SoReal), Mr Ismail Gafoor (CEO of PropNex Realty), and Mr Goh Kee Nguan (CEO of Huttons Asia). Smart algorithms that use multiple data points, such as agents’ past transaction statistics, customer ratings and reviews, and online presence, will enable consumers to find the most suitable property agents who can cater to their needs.īut it is not only consumers who will benefit from this technological innovation.ĮRA Realty’s Chief Operating Officer Marcus Chu said, “With the launch of FPA and continuous effort in IT innovations, we hope to aid agents who have been facing increasing marketing cost to generate leads. This is a dedicated website for consumers to customise their search experiences for the right property agent. With more tools, agents will have access to more information and capabilities, and this is where the industry can evolve.ĭuring the event, ERA unveiled its newly revamped review platform, FindPropertyAgent.sg (FPA). Technology, while presenting challenges for property agents, also offers opportunities to provide new services. He emphasised that the objective of the Real Estate ITM is to improve the efficiency of property transactions, and not to replace jobs. Mr Tan said that technology is here to stay, and pretending it does not exist or requesting for regulations to prevent its impact on particular interest groups would not be constructive. Speaker of Parliament Mr Tan Chuan-Jin, at the 2018 ERA Asia Pacific Business Conference on 8 February, noted that there are increasingly more consumers who prefer to conduct transactions on their own via property portals. #1: Tapping on technology to take the industry further In the same month, OrangeTee & Tie, during its Business Conference, announced that it would integrate verified reviews of its agents from its Property Agents Review portal with Carousell’s existing user feedback system to give property seekers in the marketplace greater peace of mind when searching for property on Carousell.ĬEAnergy walks you through how the industry is gearing up for an exciting transformation journey ahead. ![]() Shortly after, PropNex Realty, during its Annual Convention, attributed its record success in earnings to the impactful training and development programmes conducted for all its agents to ensure that they are equipped with deep knowledge of the market and proper skills to address their clients’ needs.Ī month later in March 2018, three property agencies – ERA Realty, PropNex Realty, and Huttons Asia – came together to launch SoReal, an online platform for agents to provide the latest information to consumers for their real estate needs. In February 2018, ERA Realty unveiled its revamped FindPropertyAgent.sg platform during its Asia Pacific Conference. Since the launch of the Real Estate Industry Transformation Map (ITM), several property agencies have pledged their commitment to embrace the ITM’s strategies of tapping technology, raising professionalism, and improving client centricity for a future-ready industry. REITM Focus: Revving up for transformation ![]()
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