Gone are the days when homebuyers have to call up advertisers of skimpy classified ads to get more information. HomeSpace.sg effectively utilizes Web 2.0 technology to simplify the process for the homebuyer.
HomeSpace.sg is a powerful yet easy-to-use map-based real estate search engine that effectively bridges the gap between the homebuyer and seller. Unlike online classifieds, HomeSpace uses it's search technology with the power of Google maps to return relevant search results.
While the proliferation of Internet use is notably high in Singapore, most sites do not fully utilize its power in the real estate marketplace. "Most other sites only provide simple text based search, which makes it especially hard for people who are not certain of what they want yet." noted Vinod Nair, Chief Executive Officer of The Real Group, the company that created HomeSpace. "How we've addressed this is to put all our listings on Google Maps, which makes it much easier for people to look around before filtering down" he added. This not only allows them to conduct a visual search for all the houses near the vicinity of their preference through a clear map-based format, it allows them to filter their choices to suit their desires. This greatly reduces clutter, and at the same time, provides Homebuyers with alternative choices. Buyers are now able to make informed decisions of what units they would like to view without being restricted by an agents' inventory.
Home-sellers typically have to provide a spectrum of information manually while posting an advertisement for their home. However, HomeSpace has developed SmartPins which automatically scans the amenities around the home and tags it to each property listing, reducing the work required for sellers to put up their home for sale. Over and above resale homes, HomeSpace has recently struck a partnership with one of Singapore's largest property developers, Far East Organization to showcase its new developments to prospective homebuyers.
HomeSpace empowers sellers to easily post fuss-free listings via a simple online input in about 20 seconds. The platform, using only the home's zip code, automatically populates the listing with other necessary information and maps it onto Google maps using its "SmartPins" technology which displays locational details for each property such as nearby schools, MRT stations and shopping malls. If a seller enters in more details to a listing it gets a higher quality score and that listing is ranked higher in search results.
"Creating a listing has never been easier. We have cut the time and effort needed to create one by over 80%," said Timothy Kua, Director of Marketing. "All we really need are what we like to call 'ZAP' - Zip code, floor Area and Price - to put up a quality listing for you that is automatically furnished with road name, facilities if it's a condo, nearby amenities like schools and malls and even the distance from these places. Gone are the days when every detail needs to be painfully filled out; now buyers can see almost everything you have to offer in just three easy steps. Of course, sellers can also add additional information such as the number of rooms and photographs just as easily on the website."
HomeSpace strives to increase the amount of information to buyers. "We are currently working on providing past transactional information to empower buyers to know how much bargaining power they have based on recent transactions." said Vinod. Eventually, we hope this will put the power in the hands of the consumer so that they will be able to make more informed buying decisions and avoid being cheated by rouge agents.
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