REAL ESTATE TECHNOLOGY, REAL ESTATE INVESTMENT
Globenewswire | May 16, 2023
Ohmyhome Ltd. (NASDAQ: OMH, “Ohmyhome”, “the Company”) and Ohmyhome Property Inc. (“Ohmyhome Philippines”) are pleased to announce the signing of a Memorandum of Understanding (MOU) of a strategic investment by Ohmyhome Ltd. into Ohmyhome Property Inc.’s Philippines operations, marking Ohmyhome’s plan of expanding in the large and growing Philippines market.
“Philippines has always been a great market for property transactions. The quality of developers and their projects have improved significantly over the decades, and the country’s economy has seen a strong rebound from COVID with a flourishing digital economy,” said Rhonda Wong, Chief Executive Officer “Many companies have set up their Business Process Outsourcing (BPO) and technology teams here, creating job opportunities and income for families. The growing Overseas Filipino Workers (OFWs) have also been a strong pillar of growth of the real estate industry. We believe that there are ample opportunities for a data-driven technology platform like us to help homebuyers, home sellers, and developers transact their properties.” added Ms. Wong.
Philippines as a Southeast Asia Growth Opportunity
The company’s move into the Philippines market provides robust business growth opportunities. With a record pace of 7.6% in 2022, Philippines is amongst the world's fastest growing emerging markets according to S&P Global. The population growth remains one of the strongest in Southeast Asia with a fertility rate of 2.78 in 2020, and the median age of 25.3 years as compared to 41.8 of Singapore and 38.1 of United States. The Philippines is also a country with one of the highest English-speaking populations in Southeast Asia, making it ripe for international businesses.
Overseas Filipino Workers (OFWs) are also increasingly contributing to the economy and the housing market in the Philippines. The total number of OFWs was estimated at 1.83 million in 2021, up by 3% compared to 2020. Total personal cash remittances grew 3.6% to USD 36.14 billion in 2022, accounting for 8.9% of the Philippines’ gross domestic product. The robust inward remittances reflected the increasing demand for OFWs amid the reopening of economies, and also presents great opportunities for families to upgrade their homes back in the Philippines.
“Ohmyhome’s vision is to be the most trusted and comprehensive property solution for everyone, and the Philippines currently lacks a platform that provides exceptional customer service that Ohmyhome is providing to our customers in the Singapore market,” said Herzon Garland, Founder of Ohmyhome Property Inc. “We believe that with this collaboration, we will be able to provide first class service to our customer base and bring the best Philippines properties to Filipinos here and around the globe.”
Strategic Partnership Provides Synergies
The core component of the collaboration and integration between Ohmyhome and Ohmyhome Philippines, will bring core technologies of Ohmyhome in closing transactions and its MATCH algorithm to complement Ohmyhome Philippines operations in property transactions. Additionally, the partnership will provide resources on both sides to allow for the ease of cross-border property transactions.
The integration of Ohmyhome Philippines’ huge portfolio of properties and units will allow interested buyers and investors of Philippines properties to select from a wide range of units that fit their needs and will be serviced by a dedicated team that works across Singapore, Malaysia, and the Philippines. myElite.pro, an exclusive members-only property network developed by Ohmyhome Philippines for salespersons and referral partners in the Philippines and beyond, could also potentially be deployed in other geographies to partner with trustworthy licensed salespersons and referral partners to serve both homebuyers and sellers who can access all information and services from a single platform on their fingertips.
“This MOU further solidifies our position as the go-to platform for property seekers and sellers to come. We hope to be able to bring our solutions to the millions of families in Southeast Asia, and bring speed, ease, and reliability to property related services in the region.” commented Race Wong, Chief Operating Officer.
The agreement will allow the Company to service the thousands of homeowners and homebuyers across Singapore, Malaysia, and the Philippines as a united team and a dedicated platform that ensures quality services and acts in the best interest of customers.
About Ohmyhome Property Inc.
Originally established by a few business partners who believed in similar visions of the founders of the Company, Ohmyhome Property Inc. was established to expand Ohmyhome’s branding and building partnerships in the Philippines and was provided with Ohmyhome’s branding and the support of web and mobile platforms.
Within a short span of 3 years since its inception, Ohmyhome Philippines has grown the brand into one of the leading property platforms in the Philippines. The business team has also secured partnerships with more than 150 developers with over 80,000 properties for customers to choose from. Ohmyhome Philippines has since become the platform with the largest and most comprehensive property inventory in the nation.
Separately, to leverage on the strong social networks of Filipinos across the country and globally, Ohmyhome Philippines has developed and launched in 2022 myElite.pro with close to 5,000 verified members. myElite.pro is a members-only property network where verified referral partners and salespersons are able to access the most comprehensive property inventory in the Philippines and refer buyers to the network and earn incentives upon successful close. This taps onto the informal network of Filipinos across the country and the world and allows clients to be served by verified partnering salespersons everywhere without incurring additional headcount.
About Ohmyhome
Ohmyhome is a one-stop-shop property technology platform in Singapore that provides end-to-end property solutions and services for buying, selling, renting, and renovating homes. Since its launch in 2016, Ohmyhome has transacted over 13,100 properties. It is also the highest rated property transaction platform with more than 8,000 genuine reviews with an average rating of 4.9 out of 5 stars.
Today, Ohmyhome is the first Singaporean company listed in the US in 2023 and the first women-only founded Proptech company listed in the US.
Ohmyhome is dedicated to bringing speed, ease, and reliability to the property-related services, and to become the most trusted and comprehensive property solution for everyone.
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REAL ESTATE TECHNOLOGY, REAL ESTATE INVESTMENT
PRnewswire | April 03, 2023
SkySlope, one of the proptech industry's most trusted transaction management providers, has launched its new iPhone app for SkySlope Forms, to make it simple for REALTORS® to prepare and manage real estate forms digitally. The app allows real estate deals to keep moving forward — even while agents are on the go.
SkySlope Forms includes libraries licensed to SkySlope by REALTOR® associations and MLSs. Every form is mapped with editable fields that can be adjusted by agents directly in the app.
"We live in a world where mobile solutions are critical to our agents' success," says SkySlope CEO Tyler Smith, "With agents' work locations becoming more flexible, the Forms app allows them to evolve their workflow and take their work anywhere."
An easy-to-use interface empowers agents to keep transactions up-to-date, organized, and constantly tracking forward. To reduce errors and ensure an excellent client experience, transactions can be edited at a moment's notice — not saved for a return to the office, optimizing how and where agents spend their time.
SkySlope has long been a leader in the digital transaction management space. Founded in 2011, SkySlope serves over 650,000 real estate professionals and manages almost 3 million transactions annually. Consistently earning high marks for its ease of use and exemplary customer service, the SkySlope Forms app promises to further advance the company's technological foothold.
"Perhaps most exciting about the SkySlope Forms app is — big picture-wise — it's going to create a usable platform for us to begin incorporating future-forward tech like writing an offer via voice assist," says Smith. "Our goal at SkySlope is always to get agents out from behind a screen and in the field as much as possible. This is just the beginning."
The SkySlope Forms app will be available in the Apple app store. An existing SkySlope Forms account is required to access the app.
About SkySlope
Established in 2011, SkySlope is the customer experience platform managing real estate transactions from contract to close. Serving over 450,000 real estate professionals across the U.S. and Canada, SkySlope manages nearly 3 million transactions annually. SkySlope is on a mission to build solutions that reshape the real estate industry by creating the most powerful autonomous transaction platform. For more information, visit SkySlope.
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REAL ESTATE TECHNOLOGY, REAL ESTATE INVESTMENT
PRnewswire | April 20, 2023
RESAAS Services Inc. (TSXV: RSS) (OTCQB: RSASF), ("RESAAS" or the "Company"), a leading provider of technology solutions for the Real Estate Industry, has announced a preliminary partnership with Rocket Mortgage Canada.
Rocket Mortgage Canada is a digital mortgage broker, using technology to deliver a revolutionized mortgage process. The partnership introduces a unique way for real estate agents to add value to clients by offering access to a simplified mortgage process through Rocket Mortgage Canada.
"Exclusive real estate data gathered by RESAAS shows real estate agents generate higher referral fees when referring clients that are pre-approved for a mortgage," said Tom Rossiter, CEO of RESAAS. "RESAAS has selected Rocket Mortgage Canada because its digital experience is complimentary with RESAAS's technology-forward solution. Our goal is simple: to enable RESAAS agents to pre-qualify their clients quickly for the best mortgage products and lowest rates available."
"As a fintech company, Rocket Mortgage Canada understands the value of a digital experience to help simplify the mortgage process for both clients and their real estate agents," said Hash Aboulhosn, President of Rocket Mortgage Canada. "That's why this partnership with RESAAS makes sense – their technology for the real estate professional provides yet another digital touchpoint on our way toward fully digitizing the mortgage process."
Under the terms of the one-year agreement signed on March 1, 2023, Rocket Mortgage Canada and RESAAS will share the revenue generated via the partnership from all new mortgages, mortgage renewals and refinances.
About Rocket Mortgage Canada
Rocket Mortgage Canada is a digital mortgage broker and a part of Rocket Companies (NYSE: RKT). Rocket Companies is a Detroit-based holding company consisting of personal finance and consumer technology brands including Rocket Mortgage, LLC, one of the largest mortgage lenders in the U.S. Founded in 2020, Rocket Mortgage Canada aims to transform and modernize the mortgage experience in Canada by providing a streamlined process for individuals looking to purchase a home or refinance their mortgage. Rocket Mortgage Canada's mortgage agents aim to deliver the highest level of client service. For more information, or to apply for a mortgage, visit RocketMortgage.ca.
About RESAAS Services Inc.
RESAAS is an award-winning global technology platform for the real estate industry. With over 500,000 real estate agents utilizing RESAAS in 160 countries, RESAAS enables real-time industry communication, delivers new business opportunities and captures unique real estate data. Some of real estate's biggest brands leverage RESAAS to provide business intelligence to real estate brokerages, franchises and associations. For more information, please visit https://www.resaas.com.
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