PropertyGuru has recently hit a record high of 1 million listings as well as crossed the 30,000 mark for the number of real estate agent subscribers advertising on its websites. This milestone can be attributed to a strategic combination of breakthrough innovation and commitment towards improving the business of agents.
PropertyGuru places a strong emphasis on the innovation and improvement of its products, introducing many new tools and features to enhance the quality of listings. These enhancements include the recently launched Transactor tool, as well as a new listing quality system and a floor plan database in Singapore. As a result, PropertyGuru has been able to improve the both the listing volume and user experience for visitors to its sites.
With a deep understanding of the differences in each of its target markets’ property landscape, PropertyGuru also constantly strives to help better the business of agents amid the market slowdown in developed countries like Singapore and build visibility across new, untapped territories in the developing countries of Malaysia, Thailand and Indonesia.
The Company has gone beyond simply selling advertisements- holding a number of events throughout the year, including exclusive networking events, seminars and roundtable sessions. These events give the agents an opportunity to gain business insights as well as pointers by participating in active dialogues alongside key industry players, peers and colleagues regarding trends in the property market. The events take place in all the markets PropertyGuru operates in, attracting a large number of attendees for each of these events.
Agent subscriber growth was the strongest in Thailand, with the number of subscriber agents doubling at the end of H1 2014 as compared to the year before. Indonesia and Malaysia both experienced a 50% increase in the number of agent subscriptions within the same period – a testament of the growing popularity of the brand becoming the preferred advertising media for property agents in the region.
“Our strategy towards our agents has always been driven by the aim of empowering them to become more influential in the property search process by enabling them to widen their exposure, becoming more informed, and improving their efficiency,” said Steve Melhuish, Co-Founder and Chief Executive Officer of PropertyGuru. “These growth figures are a testament of the trust and confidence the agents as well as property seekers have in us, and we will continue to build on this relationship and fulfil each and every of our stakeholders’ needs.”