Ohmyhome, Singapore’s #1 PropTech Powerhouse Launches in Malaysia

Earlier this month, I was invited to attend the launch of Ohmyhome, Singapore’s #1 PropTech Powerhouse at Greyhound Cafe Mid Valley. 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 on the 3rd of July 2019.

(Left) Rhonda Wong – CEO and co-founder of Ohmyhome and Race Wong – COO and also co-founder of Ohmyhome

This platform features a unique hybrid model of a DIY (do-it-yourself) platform 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 property deals.

In September 2016, Ohmyhome burst into the Singapore property scene and 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.

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 importantly 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.

With only 19 agents, which is the least number of all, Ohmyhome managed to make the highest percentage in volume of sales per agent in Singapore.

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.

As part of the expansion strategy into Malaysia, Ohmyhome has secured major partnerships to provide better services to its customers, such as with major partner banks and conveyancing firms who will offer housing 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. 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 investments or want to invest in both countries. 

Ohmyhome makes property transactions simple, fast and affordable through a DIY (do-it-yourself) platform, top-tier agent services, mortgage advisory, conveyancing and more. Launched in Singapore in September 2016, Ohmyhome is Singapore’s leading PropTech Solution and a CEA-licensed real estate agency. Ohmyhome is also a BOVEA-licensed real estate agency in Malaysia.

The DIY platform connects homeowners and searchers directly at no cost. Thousands of property listings are genuine, unique and simple to browse.

For those who prefer comprehensive and professional assistance, competitively priced agent services are available at 3% commission. Powered by advanced technology and trusted by customers, Ohmyhome agents are the most efficient in the Singapore market. Since launch, more than 4,500 homes have transacted through Ohmyhome which represents a combined value of over MYR 5 billion.

Ohmyhome plans on expanding further in the Southeast Asia Region. With its Malaysian expansion in July 2019, they are the first cross-border one-stop property solution with its tech-enabled offerings that have served thousands of customers in Singapore.

Ohmyhome is currently serving the Klang Valley 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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