http://www.todayonline.com/singapore/new-websites-seek-make-property-deals-more-transparent?singlepage=true
FindNest, it is one of several online ventures launched in recent months that are aimed at providing parties in a sale or rental of a property with more information.
It promises to bring greater trust and transparency to property transactions among agents, buyers and sellers by providing more information on prices offered by various interested parties for properties on sale.
Currently in a pilot with HSR International Realtors, FindNest has more than 300 listings from more than 50 agents.
By allowing buyers to list their requirements and encouraging sellers to bid for buyers’ business, FindNest would help make the market more efficient and productive.
Other newer platforms competing with industry giants such as Property-Guru and STProperty to provide consumers with access to information on property listings and transacted prices in rental and buying markets include the SRX Home Search App recently launched by the Singapore Real Estate Exchange, while websites such as PlaceMatch and Homie cover the rental market.
The Government’s OneMap website also offers information on transacted prices of public and private property in a given geographical location.
Industry watchers were divided on whether access to more information would help homebuyers and sellers make more informed decisions.
Transacted data helps to frame the highest and lowest transaction prices and is helpful to buyers in making an offer, said Mr Nicholas Mak, executive director of research and consultancy at SLP International Property Consultants.
However, Mr Eugene Lim, key executive officer at ERA, said: “You can put the information in front of people. Do people understand the data? Sometimes, too much data becomes noise.”
Property agents place their listings on platforms that can generate the most leads but, without listings, consumers cannot benefit from the websites, he said.
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