Three of what are considered the biggest property agencies have partnered up to create an online platform that provides real-time information for both agents and home-seekers who are also attempting to overcome issues that plague real estate portals today.
SoReal Prop as the collaboration is called was first discussed in early 2016 by the chief executives of PropNex Realty, ERA Realty and Huttons Asia after agents alerted them to the challenges they faced when subscribing to property portals.
These included duplicated listings, high subscriptions, increasing fees and outdated information that is not refreshed in real-time.
When their SoReal initiative was announced to other agencies last Friday, seven companies opted to sign up - Savills, C&H, HSR International, SRI, Global Alliance Property, CBRE and SLP International. Talks are underway to bring other agencies on board.
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