The Dubai-headquartered real estate firm embraces the digital revolution by inking a multi-million Ringgit agreement with Malaysia’s no.1 property site.
Kuala Lumpur, 23 January: This collaborative effort, first of its kind between a real estate agency and a digital company, is set to change the way Malaysians experience property. IQI Realty will leverage on iProperty.com’s digital and non-digital marketing solutions as well as the site’s reach to empower its real estate agents, thus helping consumers achieve their property or homeownership dream.
The deal involves equipping agents with access to data and valuable insights to help customers make accurate and informed decisions. Under the terms of the agreement, iProperty.com Malaysia will also work together with IQI in coming up with customised in-house training for IQI’s agents on how to best leverage digital solutions and data insights to engage and serve their Malaysian customers.
Data will help build trust between realtors and consumers
Haresh Khoobchandani, CEO, Singapore & Malaysia, REA Group-Asia emphasised that iProperty.com’s initiatives are driven by the company’s purpose to change the way Malaysians experience property. “We are not just looking to transact, we want to partner with real estate agencies all over the world to change the way consumers experience property. The home buying process is evolving and real estate agents who embrace and have the skills to leverage technology are at a clear advantage,” he said.
Haresh explained, “For instance, data will hasten and boost the client-customer relationship as these real-time figures provide certainty. Before, an investor or homebuyer has to depend on word of mouth or the agent’s industry knowledge when determining the transacted price of similar units within a project or in the surrounding area.”
“Meanwhile, having access to and understanding iPropertyiQ’s data will enable an agent to provide the most up-to-date, relevant information on sub-sale property transaction prices to their clients as the data is sourced from JPPH, which officially records property transactions once the stamp duty for the sales and purchase agreement is paid,” he added.
Data analysis to assist agents in finding the perfect fit for their clients
Leon Kong, General Manager (Agent Sales), iProperty.com Malaysia shared,” According to SimilarWeb, iProperty.com.my is the leading place Malaysians turn to for property information online. Hence, we are able to capture aspiring purchasers and renters search trends, i.e which areas they are interested in; property type and size preferences and targeted price ranges. Our big data solution, iPropertyiQ compiles this information and churns out valuable analytics, thus providing agents with an added edge – they will be able to advise investors on capital appreciation and rental yield figures as well as provide a clear picture of consumers’ current demands.”
Kashif Ansari, Group CEO, IQI Global said, “As a global real estate agency with a strong presence in Malaysia, we see digital technology as the core enabler of the real estate business in Malaysia. In fact, we are looking to jump onto the blockchain bandwagon for our business operations in Dubai, it is only a matter of time before the blockchain trend disrupts the real estate industry in Malaysia as well.”