Ravi Chandran
Ohmyhome, Singapore’s leading PropTech marketplace, today announced that it has launched the first ever tri-service HDB Sellers Package in the industry, for home sellers who concurrently sell and buy within a short timeframe. The package consists of agent services, conveyancing and mortgage advisory.
Ohmyhome, Singapore’s leading PropTech marketplace, said that the tri-service package was primarily developed to provide home sellers with a smooth transition from the sale of their home to the purchase of their next home, with a focus on financial planning and timeline management.
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For home sellers, these are the two main areas of concern because there could be financial consequences if they are not properly managed. At least once every two weeks, Ohmyhome encounters a home seller who did not properly plan the sale of the current home and the purchase of the new home.
With the HDB Sellers Package, sellers intending to sell their home and buy another property shortly after, can now receive professional guidance to navigate the complex process. Ohmyhome’s tri-service package not only develop the client’s financial outlook analysis as part of its agent services to sell an existing property, it also includes the legal conveyancing required during the sale and a mortgage advisory service to help clients plan the purchase of their next home.
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Ms Rhonda Wong, CEO and co-founder of Ohmyhome said, “Our vision at Ohmyhome is to provide a platform where home sellers and buyers have access to all the services they require, making the entire process simple, fast and affordable. And that’s why we introduced this HDB Seller Package that integrates agent, legal and mortgage advisory services to ensure that sellers have a smooth process from the sale of the current home to the purchase of the next home, a process where meticulous time and financial planning is essential and which will be taken care of with Ohmyhome.”
Ms Wong added, “We have served over 100 home sellers with our HDB Sellers Package and are confident that our clients will continue to welcome it as it provides an end-to-end guided service for those who are unfamiliar with the complicated process of property transacting.”
Growing in tandem with the successful HDB resale segment, Ohmyhome, the leading DIY proptech marketplace, reached new milestones and in August last year, Omyhome said that it has recorded more than 35,000 users actively chatting and searching on rental. There are currently more than 1,000 non-duplicate, active rental listings on its portal.
Ohmyhome said that with its DIY proptech marketplace it aims to alleviate the search-related problems faced by tenants and landlords by providing useful features and implementing a direct tenant-to-landlord approach. This proves to be a winning formula, with some landlords receiving requests-to-view on the first day of listing. In addition, the proprietary ShoutOut feature is highly popular, with more than 7,000 listings suggested to tenants thus far.
The DIY proptech marketplace simplifies the rental process in four main ways:
1. Simplifies the search process with its easy-to-use ‘Location & Price Map’.
2. ‘ShoutOut™’ streamlines suggestions to tenants’ specific demands in the DIY proptech portal.
3. Essential information are readily available in the DIY proptech portal which facilitates decision making.
4. ‘Tenant’s Journey’ boasts seamless rental experience with comprehensive bite-sized guides in the DIY proptech portal,
Mr Paul Ho, the chief mortgage consultant at icompareloan.com said that DIY proptech tools are already disrupting traditional business operating models in real estate here.
In welcoming the launch of Omyhome’s DIY proptech marketplace, he said the proptech tool is already revolutionising the industry, and that property agents “must upgrade or 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.
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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™ – in 3 mins flat. This helps Property agents to close deals faster and serve customers more professionally.
Proptech (or Property Technology) is technology and real estate coming together to propel the real estate industry forward. The proptech ecosystem is flourishing now in many parts of the world, thanks in large part to ample venture capital, community efforts in local tech hubs, and an increasing realisation that there is a real need for innovation in the sector.
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