Having successfully transformed the Singapore property transaction scene with its record breaking industry firsts, the progressive PropTech (Property Technology) startup, Ohmyhome, officially launched in Malaysia.
Featuring a unique hybrid model of a DIY (do-it-yourself) plat- form and full fledged agency services; Ohmyhome helps ease pain points for buying, selling and renting, while reinforcing their commitment to making these transactions simple, fast and affordable. They are also the first cross-border property transaction platform which seamlessly facilitates Malaysia-Singapore proper- ty deals.
Proven track record
Bursting into the Singapore property scene in September 2016, Ohmyhome made history by emerging as Singapore’s No.1 app for mass market property transactions in just four short months.
Co-Founded by Malaysian-born sisters, Rhonda and Race Wong have methodically and meticulously grown their business, developed new technology innovations, and added new services to enhance the customer experience. To date they have served more than 4,500 transactions with a combined value of more than MYR 5 billion.
Ohmyhome is unique because of their ‘best-of-both-worlds’ model combining the DIY platform with end-to- end services. They take care of the entire transaction process from search and deal closing all the way through to conveyancing and mortgage advisory.
“Ultimately at the heart of it all, we go all out to sell your homes by providing the DIY platform, top-tier in- house agent services, mortgage advisory, conveyancing and more importantly, we leverage on tech to help us sell at record breaking speed and concentrate on the human-side of things – building trust and providing excellent customer service,” says Rhonda Wong, Co-Founder and CEO of Ohmyhome.
Malaysia to benefit from leapfrogged PropTech
As a technology platform, Ohmyhome anticipates Malaysia will have its own set of challenges, but they are confident that the learning over the past three years will serve them well. Malaysia will benefit from all the prior developed proprietary technology, minimal adjustments to the user interface (UX), but more important- ly the fluid business processes and protocols which have been fine-tuned to serve its customer base with high efficiency. At the core, the platform features 100% genuine listings and zero duplicates which is made possible by their proprietary algorithms. Cutting through this clutter, Ohmyhome makes it faster than market norms to search and transact properties.
For Ohmyhome customers who engage with their agents, technology aids approximately 70% of the agent processes (such as sourcing for new leads, matching of buyers, scheduling, advertising and more) allowing agents to provide more accurate and highly-professional services.
The DIY portion will remain free, and offers a host of tools to empower users to take charge and handle the transaction from end-to-end with minimal stressors. Customers can pick and choose the services they want, which in turn allows them to save up to 4% on agency commission fees.
“Being Malaysian born, it was a natural choice to expand to Malaysia first. In our pre-launch phase, we’ve accumulated a healthy demand for our platform which is indicative of the market’s readiness for a new standard in transacting their properties. We target to have 1,000 listings and 100 transactions”
As part of the expansion strategy into Malaysia, Ohmyhome has secured major partnerships to provide bet- ter services to its customers, such as with major partner banks and conveyancing firms who will offer hous- ing loans and conveyancing services respectively. In addition, several partnership deals have been inked with housing developers, most notably with Sime Darby, Mah Sing Group and Tan & Tan Developments.
Potential buyers are guaranteed the best prices from partnered developers, and enjoy complimentary rides to the showrooms through the Ohmyhome platform.
Cross-Border Opportunities
New to Ohmyhome is the cross-border functionalities which not only increase the pool of buyers and sellers on the platform, but provides a unique proposition to many Malaysians and Singaporeans who have in- vestments or want to invest in both countries.
Race Wong, COO and co-founder of Ohmyhome said,
“We come across many homeowners in both Ma- laysia and Singapore who want to transact their properties, but don’t know where to begin, who to turn to and entrust with their property. Trust is one of the main pain points in this type of cross-border transaction and this is where our customer service and agent team come in. Ohmyhome will be their trusted guide that takes care of the entire process from marketing to viewing and closing. Simply pass us the keys and we’ll handle the rest. With Ohmyhome, your property is in good hands!”
Ohmyhome is currently serving the Greater Kuala Lumpur area and plans to commence business in Johor Bahru in the near future.
For Malaysia, Ohmyhome is accessible via web (www.ohmyhome.com.my), mobile web and on the Google Play Store. The iOS app is set to launch at a later date.
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