Ravi Chandran
Proptech applicable in a crisis proves tie-up between MOGUL.sg and OrangeTee & Tie. Their vision is to integrate new format of property search for market.
Proptech company – MOGUL.sg has just announced that they have signed an agreement with OrangeTee & Tie (OTT), one of Singapore’s leading Property Agency with well over 4300 agents.
Proptech applicable especially in times of crisis
The announcement comes relatively timely during this circuit breaker period for the market where many property agents and buyers are homebound, showing that benefits of property technology are applicable especially in times of crisis. This integration will allow OTT agents to utilise MOGUL.sg’s proprietary keyword search, A.I matching and geospatial data in their Agent App.
Integrating MOGUL.sg’s proprietary keyword algorithm into their current Agent App is the next step into their app evolution. OrangeTee Executive Director Simon Yio shared that: “We are excited to incorporate MOGUL’s proprietary system into our Agent App.” Yio continued: “Digital transformation is not a solo journey- it is a journey where we co-evolve and co-innovate with reliable strategic partners such as MOGUL so that everyone can leverage on each other’s strengths to play a critical role in the business ecosystem and constantly create better value for the consumers.”
Proptech applicable to revolutionise searching and listing habits
This partnership has been in progress for some time and is the latest and largest alliance to date for the new portal on the block. Wanting to revolutionise searching and listing habits has always been a hurdle in a developed market like Singapore. MOGUL.sg’s CEO and co-founder Gerald Sim reminisced: “We experienced a lot of resistance for adoption at the start, but once users understood the logic and saw the simplicity and effectiveness, there was little convincing required after.”
A product developed out of frustration, Sim shared how exasperating it was for an agent to operate the current formats in the market, where the searches are unwieldy and irrelevant and these agents have to yield to the portals listing priorities according to how much money was spent.
Sim shared: “We are now returning the power and control back to the agents. The more detailed you are in your listing, the more successful it will match on the platform. No more boosting fees! Agents are no longer at the mercy of spending credits to get on the first page of prospect users’ search results.”
In agreement to Sim’s view, Yio (OTT) said: “Not only are we integrating the geospatial data benefits of MOGUL.sg but these upgrades to the OTT Agent App will allow our agents to post their app listings directly onto MOGUL.sg as well, ensuing in greater convenience for all our agents.”
Powered by Singapore Land Authority’s (SLA) ‘OneMap’, MOGUL.sg is one of the geospatial technology start-ups housed at SLA’s industry centre- GeoWorks and has seen exponential development over the last year.
MOGUL.sg platform’s proprietary keyword matching algorithm and data technology is achieved by translating verified geospatial data from OneMap, sataellite imagery and MOGUL.sg’s 70 million geodata points. Users will also be able to access OTT’s list of agents and their professional reviews on it.
With the OTT Agent App already considered a ‘Super App’ with its current medley of features, this product integration will enhance OTT’s Agent App to be the only agent app in the market with geospatial capability in the industry. This partnership is a primer of what’s to come in the exciting future with regards to property technology and will be made available to come end of June 2020.
Agent App is exclusively available to all OTT Agents on Apple App Store and Google Play store.
About MOGUL.sg
MOGUL.sg is a cutting-edge Real Estate platform harnessing geospatial technology to digitally enable home buyers, home renters, property sellers and Property agents in Singapore to search and sell in a smart and hassle-free manner through geospatial data from Governement agencies.
Although MOGUL.sg has previously signed up other leading property agencies, Knight Frank, Century 21, SLP, however, OrangeTee & Tie is by far the largest partnership to date. The integration of the products will be available by end of June 2020.
About OrangTee & Tie
Founded in February 2000, OrangeTee has firmly established itself as one of the most reputable, dynamic and fast-growing real estate companies in Singapore over the span of two decades.
The company remains at the forefront of technology and innovation within the property industry, as a champion for transparent and ethical advisory practices, while committed to building a sustainable business, by building a sustainable world.
Mr Paul Ho, chief officer at iCompareLoan, said, “the fact about proptech applicable in this time of crisis is without doubt. The value-added commercial real estate solutions provided by proptech companies points to the signs of the times. Property services firms and agents must upgrade to keep up with technology or they must die.”
He noted that many property agencies struggle to keep up with all the regulatory changes in the industry, as well as the changing financial calculations for acquiring a property. He urged property agents to master the basics in property financing, refinancing, taxation and CPF.
Mr Ho said that iCompareLoan.com runs a full 2 – 3 days course on how property agents can produce such reports for their customers. He added that the trademarked course teaches Property Agents how to generate complicated Financial calculations using – Home Loan Report (TM) – in 3 mins flat. This helps Property agents to close deals faster and serve customers more professionally.
The Home Loan Report tool is a Singapore’s first one-of-a-kind analysis platform that provides latest updates of detailed loan packages and helps property agents, financial advisors and mortgage brokers to analyse home loan packages for their clients and give unbiased home loan / commercial loan analysis for their property buyers and home owners.
