The Toronto-based company is disrupting the real estate industry with innovative solutions that empower consumers at every step of the real estate journey from mortgage approval to closing. Launching with only 10 agents in February 2019, Wowa has seen exponential growth month after month and in less than a year has reached over 250 registered agents and 20,000 monthly visitors. Wowa is expanding across Canada and is currently targeting British Columbia for its next phase of growth.
Home buyers, sellers, and renters are able to use Wowa's online marketplace via the web app on any device and choose agents who present the combination of experience, services, personalities, and pricing that is best-suited to their individual needs. As a platform that combines features from both online shopping and dating platforms, Wowa offers consumers easily comparable profiles with personal biographies, transaction data, and crowdsourced user reviews and ratings. Video interviews created using Wowa's own all-in-one media management platform, MyCast, are also available for some agents.
Wowa CEO Dr. Hanif Bayat, said:
"One of the major barriers in online hiring platforms is the lack of trust and personal chemistry. With Wowa's detailed profiles, crowdsourced reviews, and integrated media solutions, Wowa establishes trust and relationships between real people - our customers and our agents."
Wowa has introduced features that enable consumers to have more insight and options in their real estate service providers. Wowa's AI-powered proprietary Neighborhood Score allows consumers to specifically select for agents with expertise in their area of interest. Wowa also gives agents an opportunity to advertise lower commission fees or cashback, increasing competition in the industry and empowering consumers to get more value from their real estate services.
New immigrants face the most information asymmetry in the real estate industry. They may face language barriers, have few local contacts or connections and have little experience with local regulations and programs. Wowa has made it part of its mission to help these soon-to-be Canadians in Toronto and soon Vancouver discover their options and gain access to top local real estate agents that can guide them through the real estate process.
Wowa CEO Dr. Hanif Bayat, said:
"We believe everyone, regardless of language, ethnicity, age, or socioeconomic status, should have access to the information they need to find trusted and experienced local real estate agents. Wowa empowers Canadians of all backgrounds with more choices and the tools and insight they need for a successful real estate journey."
As a part of its mission to reduce friction and introduce transparency into the real estate industry, Wowa also provides advanced real estate tools and financing options for consumers powered by Wowa's comprehensive database and AI to make smarter decisions in their buying or selling process and help them take advantage of available programs and incentives. Tools like Wowa's First-Time Home Buyer Calculator and Wowa's Mortgage Affordability Calculator give Canadians unbiased and transparent opportunities to plan out their home buying or selling process. "We found that most home buyers were confused about how they were being assessed for mortgage affordability, especially after the introduction of the mortgage stress test." Wowa CEO Dr. Hanif Bayat said regarding Wowa's Mortgage Affordability Calculator, "To help them understand conflicting estimates from different lenders, we developed an all-in-one calculator that combines various models with a comprehensive and intuitive visual interface and guide. The response we received from our visitors has been fantastic."
Following its success in Ontario, Wowa has decided to expand to British Columbia and enable more Canadians to participate in the Wowa mission. With many shared characteristics between the two markets, Wowa believes it can rapidly gain traction in BC, especially Vancouver, as it has done in Toronto by offering the same innovative services and tools that have been highly appreciated by its Ontario customers.
SOURCE Wowa Leads, Inc.