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.
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.
REAL ESTATE TECHNOLOGY, BUYING/SELLING
PRnewswire | March 28, 2023
Lone Wolf Technologies ("Lone Wolf"), the leader in residential real estate software, is excited to introduce the newest innovation in Cloud CMA: Live buyer tours. Buyer tours, already one of Cloud CMA's most popular report types, connect with MLS data to provide clients with a better sense of what they're looking at when they are touring homes. The new live buyer tours turn previously static reports into dynamic ones—with easy-to-read, real-time data on any device.
"We're making it possible for real estate professionals to take the reports they already provide and put them directly into the hands of their clients—wherever they are," said Jimmy Kelly, CEO of Lone Wolf. "This new feature is a significant improvement to the overall client experience that Cloud Agent Suite helps professionals offer, greatly improving convenience and understanding for everyone involved in the home-buying experience."
With live buyer tours, clients have instant access to the most relevant information about their favorite listings, including:
A real-time list of showings, organized by time, for simpler schedule management on showing days Comprehensive details that include drive time, directions, and other logistics so agents and clients stay on time and on the same page
Live feedback fields that share directly with their agent so clients can actively participate in tours and take notes for later discussion
"As real estate continues to shift in an increasingly digital direction, real estate professionals need to be able to follow suit," said Greg Robertson, GM of MLS at Lone Wolf. "With this improvement to buyer tours, agents can provide their clients with the option that best fits their needs through the home buying process—whether they prefer a classic report or a digital one. This will empower agents to own every moment and turn tours into transactions through the upcoming busy spring selling season."
With over 300,000 CMA reports generated every month, Cloud CMA is the industry's most popular tool for transforming static, generic CMAs into visually stunning and informative presentations that empower real estate agents to win more listings and attract new prospects—as well as nurture clients over time with a regular cadence of reports on their home's value.
This new feature is part of Lone Wolf's continuing mission to adapt and improve features and benefits across all solutions and software, ensuring that professionals and their clients alike have access to the best technology—where and when they can use it most.
Users of Cloud CMA will find this feature waiting for them in their dashboards, and agents can sign up for Cloud CMA for a limited-time free trial here.
About Lone Wolf Technologies
Lone Wolf Technologies is the North American leader in residential real estate software, serving over 1.5 million real estate professionals across Canada, the U.S., and Latin America. With cloud solutions for agents, brokers, franchises, MLSs and associations alike, the company provides the entire real estate industry with the tools they need to amaze clients, build their business, and improve profits-from transactions to back office, insights, and more, all in one place. Lone Wolf's head offices are located in Cambridge, ON, and Dallas, TX.
REAL ESTATE TECHNOLOGY, INVESTMENTS
Businesswire | June 01, 2023
SmartRent, Inc. (NYSE: SMRT), the leading provider of smart home and property operations solutions for the rental housing industry, today announced the launch of its Community WiFi solution, built by multifamily experts for the multifamily industry.
Through Community WiFi, SmartRent is elevating renter expectations for wireless service at their communities in terms of connection speed, dependability, portability and affordability. It is also raising the bar for management teams by upgrading infrastructure and working harmoniously with major property management systems and existing tech stacks for smooth integration and implementation.
SmartRent is an established industry leader, specializing in smart home technologies, self-guided tours, access control, asset protection and IoT solutions. Broadly, the impact of smart technology has often been limited by the WiFi system deployed at the property level. Resident-acquired WiFi varies substantially from home to home, and bulk WiFi packages are still dependent on the signal strength and reliability of individual routers and modems in each home, common area and amenity space. After analyzing the needs of apartment communities and experiencing the challenges firsthand, SmartRent decided to help solve the long-standing industry issue. Through its development of Community WiFi, SmartRent strives to deliver dependable, accessible, community wide internet access to serve as the bedrock upon which rental housing communities can confidently build out their smart home and proptech systems.
“SmartRent’s Community WiFi is the culmination of years of discovery with our clients and a deep understanding of the pains associated with connectivity at the property level,” said SmartRent CEO Lucas Haldeman. “We are uniquely positioned to bring a truly game-changing WiFi solution to the market. Through our infrastructure upgrade expertise, vast hardware and software installation experience and intimate knowledge of smart home technologies for IoT, we have designed Community WiFi to power fully connected communities. Dynamic and reliable high-speed internet connectivity is not only one of the single highest demand amenities for today’s renters, but also the backbone of efficient, high-performing properties.”
Residents can initiate Community WiFi in a matter of minutes, with no need to set up an installation appointment, through the SmartRent app — the same platform used to manage smart home devices and smart access controls and receive calls from video intercoms. Featuring up to 1 GB connection speeds, the service is competitive with individual in-home WiFi plans. A consistent connection encompasses the entire community, including amenities, common areas and office spaces, so residents and on-site staff aren’t required to connect to various routers as they move about the property. The powerful, reliable connectivity also enables WiFi calling, making it essential in areas with marginal cellular reception.
As a marketable amenity, Community WiFi can be leveraged to boost lead conversions and resident retention. Through infrastructure ownership, operators can gain a direct NOI boost from a monthly connection fee per unit and an overall increased asset value through significant infrastructure upgrades. Community wide connectivity fortifies smart communities, providing stability for property technologies and smart home devices to enhance overall IoT performance.
Founded in 2017, SmartRent, Inc. (NYSE: SMRT) is a leading provider of smart home and smart property solutions for the multifamily industry. The company’s unmatched platform, comprised of smart hardware and cloud-based SaaS solutions, gives operators seamless visibility and control over real estate assets, empowering them to simplify operations, automate workflows, benefit from additional revenue opportunities and deliver exceptional site team and resident experiences. SmartRent serves 15 of the top 20 multifamily owners and operators, and its solutions enable millions of users to live smarter every day. For more information, please visit www.smartrent.com.