Natthapon explains why Zmyhome will be the standard for property portals in Thailand and shares the success the company has had thus far
Thai people spend almost a year, on average, to sell houses. One of the reasons of inefficiency in our market is the unestablished of reliable portal, similar to Multiple Listing System (MLS) in matured markets.
Not only in Thailand, several countries where real estate agents are not regulated and protected, most listing portals are full with poor lists.
This results in users misunderstanding the market, and consequently unable to decide what is the appropriate price to sell. Users found that most of the lists were duplicated, sold or missed basic information after they called, wasting user time.
Searching on property portals in Thailand and other developing countries gave a different experience when compared to hotel or air ticket websites because all data were not validated.
ZmyHome is “the only reliable listing portal” in Thailand, because we are “the only portal that all lists are posted by property owners.”
Since we are the only home listing site that save users’ time by including only unique lists, through keeping the site updated and giving complete basic data, we are gaining more users that include both owners and buyers.
Unsurprisingly, real estate brokers also love us, because we act a lot like the MLS, where they can find appropriate properties easily to propose to their buyers.
In addition, they can study data on ZmyHome to advise their clients regarding as appropriate prices, potential rent, market competition and others.
It’s not just the reliability – we’ve created an informative map that helps users compare properties easily. Users are able to compare key characteristics of a property on our map such as price, distance from a train station and age. It helps them compare and find appropriate properties easily.
We believe that if most Thai people use our website, we can earn from property developers who spend over $400M a year for conventional marketing.
Banks, brokers, valuers and government agencies are all our potential clients as well. We can provide quality leads and necessary data to them. This is similar to Google and Facebook using their data helping advertisers reach their customers.
Seven months since our launch, we have approved 4,500 condominium lists and over 800 units were found, sold, or rented. We had over 60,000 UIP in April 2016.
By 2016, we target to command 50% of second hand market of Thailand condominiums, approximately 20,000 units, and earn sustainable income from advertising.
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