Property analytics platform as well as news site EdgeProp Singapore, and boutique real estate agency PropertyLimBrothers Realty (PLB), have signed an MOU to strengthen the synergies between both businesses.
The two parties will begin a technology-sharing arrangement that will grant PLB access to EdgeProp’s complete range of exclusive property analytics tools that can be customized to fit the PLB platform to give its agents with access to most recent market information and data.
PLB Realty CEO and co-founder Melvin Lim says the agency is betting on property technology (proptech) and market analytics tools to fuel the company’s future expansion. Melvin along with the other PLB co-founder Adrian Lim officially launched themselves as PLB Realty in September 2022.
“For real estate professionals to stay up-to-date and informed, they must remain up-to-date on the most recent market trends to enhance the services we offer our clients. At PLB our agents frequently employ analytics such as price projections and data comparison to help our clients.” Melvin says. Melvin.
This growing reliance on data for making better property decision-making is the trend that the local property market is heading toward according to EdgeProp Singapore CEO Bernard Tong. Salespeople who integrate proptech into their offerings are more noticeable and provide more opportunities for them to be successful in a highly competitive marketplace.
According to Tong Tong, the MOU permits EdgeProp and PLB to work together and collaborate in the future like consumer sessions and training for real estate professionals. The EdgeProp team worked closely with PLB to customize the front-facing aspect of their platform to fit the needs of their agents, though EdgeProp continues to develop the tools.
“We were confident in using EdgeProp’s tools for analytics because of its established and well-known reputation in the local market as a trustworthy data service. I’ve used a number of their products for over 10 years,”” Melvin adds. Melvin.
In Singapore, EdgeProp was the first to introduce Tower View which allows users can see property price developments through stacks or according to storeys. This tool was the first tools to let users see floor plans for development.
Melvin mentions that the staff at PLB who manages the sales and marketing of the landed properties frequently utilize EdgeProp’s inspector tool to assist them in areas like lot subdivision, land zoning, and other information about land lots. EdgeProp’s tools also are used in their launch comparisons and educational content created by the media team in-house.
“I am delighted to see that our relationship with these two companies has advanced to an era that opens up new possibilities for future collaborative opportunities for both parties and this agreement is a result of our shared goal of educating the general public about the use of information in making better property choices,” says Tong.
He explains that he has noticed numerous similarities and overlaps in both firms’ approaches to business with regard to media content and editorial coverage. “PLB has been producing a continuous flow of instructional videos and one of the strengths of EdgeProp is the range of our editorial and news coverage of market.”
The working environment is changing as people become more technologically adept, and agencies or portals that aren’t supported by analytics and data will be more unable to aid buyers and sellers to make informed property choices, according to Tong.