Ohmyhome is a a Singapore-based proptech company that offers a comprehensive online platform for real estate transactions. The platform offers a one stop shop for all things real estate, reducing the need for a traditional brokerage. Rhonda Wong, founder of Ohmyhome, joined TheStreet to discuss how her company is transforming the real estate world.
Full Video Transcript Below:
RHONDA WONG: As a company, Ohmyhome, we’re a property technology one stop shop. We're very focused on transactions. So if you're looking to buying, selling, renting or renovating your home, you'll come to Ohmyhome. So what we do is that we provide research, we provide evaluation tools. A lot of technology behind informing you about your property. And if you need to sell, if you need to buy, you can DIY on our platform, post your property by yourself if you like to or you can engage our agents. Ohmyhome agents. We also provide mortgage services. We work with all the banks, we have legal. And finally, after you've bought your home, we'll renovate and fill it out and make it a home.
J.D. DURKIN: And how does this maybe differ from more of a traditional broker, a brokerage or an existing sort of entity in the space that a lot of our viewers might be familiar with?
RHONDA WONG: Well, so usually our traditional brokerage across the world and the agent or broker will work individually. He or she will attend to a customer and advertise and you'll wait for buyers. Now, what's different at Ohmyhome is we work as a company. So think about our agents like the Uber drivers. The company does all the customer acquisition, nurturing information, education, and then we assign the right agent to serve this client thereafter the post-purchase work are the post-Sale work is all done by our platform and technology. And what this means in terms of result and outcome is that each of our agents on average transact 75 properties a year.
And this is way above all the competition in the market in Singapore, they are hovering between 0 to 6, were at 75. Now, even if we compare with the companies in the States, the highest I've seen is 27 deals per agent on average and we're at 75. Now, it's not just about our agents' productivity because this is really very much what technology is here for, what's also very important is the results for the customer. And for the customer we're able to sell 50% of our listings in seven days and 60% above market average prices. So that's what we're really proud of. And we are also the highest rated company in terms of property transaction in the region that we work in, which is Singapore, Malaysia and soon the Philippines.
