Singapore’s leading property tech startup Ohmyhome is out to further enhance the way Filipinos buy, sell and rent their homes.
Through its hybrid model of a DIY (do-it-yourself) platform and full-fledged agency services, Ohmyhome seeks to level up one’s homebuying or leasing experience by making property transactions simpler, more efficient and more affordable.
Sisters and Ohmyhome founders Race and Rhonda Wong plans to introduce fast, efficient, and seamless housing transactions to the Philippine market through its website and mobile app.
Empowering buyers
In an e-mail interview, Ohmyhome chief executive officer and co-founder Rhonda Wong pointed out that all countries, including the Philippines, face similar issues when it comes to property transactions. These include lack of transparency, unreliable agents, slow feedback, as well as cumbersome and decentralized property services.
“Ohmyhome wants to enhance the way people live, and the way they buy, sell and rent homes. With Ohmyhome, it is possible to DIY the entire transaction because we allow homeowners and buyers to connect with one another to seal a deal. When we first started, people can be overwhelmed by the idea of technology doing most of the work. However, we have found in our current markets that it is possible to successfully teach and empower our customers to transact and get the best services on their own, completely free of charge. We have transacted over 5,300 homes, making their entire journey simple and smooth,” Wong explained.
“For those who prefer a professional to serve (them), we also have in-house agents who focus on providing personalized services, as our property technology ensures speedy transactions at the best prices. While this service is chargeable to sellers, you can be assured that you will be served by the best,” she added.
This model has so far proven to be highly successful in Singapore and Malaysia, where Ohmyhome continues to handle roughly 2,000 housing transactions a month. The platform has also garnered some 300,000 application downloads, over 175,000 active users and 15,000 unique listings of real estate properties to date.
Unique algorithm
With Ohmyhome, property seekers can browse through a wide range of property listings with honest DIY guides to assist them. Real estate professionals can meanwhile assist consumers with the more complex financial calculations and process of securing housing loans. All these would help empower consumers to make informed choices, while easing the “pain points” in the process of buying, selling and renting.
Its platform also has a unique algorithm that matches buyers and sellers efficiently based on the buyers’ search criteria and the sellers’ property details, thus reducing the time required for manual searching.
“What makes property-related transactions different in Ohmyhome is the simplicity and efficiency of the processes. For Filipinos, buying, renting or selling a home involves several convoluted systems that often leave prospective property sellers and seekers confused. At Ohmyhome, we believe in transparency and reliability. Whether our clients prefer our DIY platform or avail of professional agent services, they are aware of what happens in every step of their housing journey. We make sure that processes are simple, practical and personalized,” she added.
Ohmyhome will make the previously tedious task of browsing through property listings a breeze.
Establishing partnerships
On the property developer front, Ohmyhome has started securing partnerships with established developers, which would benefit from the company’s database of buyers in the Philippines, Singapore and Malaysia.
“For property developers, we are able to provide them with exposure within and beyond the Philippines. As Singapore plays host to a huge population of overseas Filipinos and investors interested in property investments, we believe that (Ohmyhome) will be a reliable platform for both the property developers to list their properties and for buyers to transact,” Wong said.
Sustained growth
Following its expansion in Malaysia last year, Ohmyhome is now tapping the Philippine real estate market, which has seen a sustained growth in condominium property demand and prices over the last decade.
“With the rising population and spending power, Filipinos are more educated and tech savvy than before. We believe that now more than ever, Filipinos need a platform that will provide transparent and reliable housing services that are easily accessible digitally through their mobile phones. With the pandemic tossing added uncertainties to our lives, it is crucial that we get the housing portion right and keep our families safe,” Wong concluded.