The Clock Is Ticking for Traditional Real Estate Models with Arrival of Proptech Startup Bluenest

Amidst surging investor interest in the Singapore property market, Bluenest’s tech-based model streamlines the entire purchasing and selling process for consumers.

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SINGAPORE - Media OutReach - Oct 31, 2019 – Seamlessness and
transparency will soon become the new hallmarks of property transactions for
savvy consumers.

Backed by Rocket Internet, tech-based real estate agency Bluenest eliminates the
inefficiencies currently present in the purchasing and selling process.

“Property agents these days are like entrepreneurs, managing the
entire customer journey themselves from lead sourcing to paperwork at varied
commission rates,” says Bluenest founder Jeff Lim.

However, these one-man shows typically mean a long, time-consuming
process for both agents and consumers. Real estate transactions can last around
6 months from start to finish, covering everything from house viewings to legal
processes.

Bluenest’s A.I. and data-based platform closes the loop between
buyers and sellers and aims to cut in half the average time it takes to
transact a property.

The technology available to its agents also allows the firm to
deliver greater cost savings to end-users. For instance, Bluenest charges only
1% in commissions for premium brokerage services compared to the standard
market rate of 2%.

Like the owner-listing platforms that have grown in popularity in
recent years, Bluenest’s goal is to enhance the transacting experience for
consumers.

However, the company’s competitive edge lies in the advisory
services that its agent pool offers. Using tech to automate the repetitive
processes involved in the sale, Bluenest agents are better able to focus on
advisory and can deliver a higher-than-average closing rate for their
clients. 

“Digital marketing is our strength,” Lim notes. “We market
properties as an agency rather than as lone individuals.” This integrated
approach enables them to help homeowners sell their properties at higher prices
and in a shorter time frame.

The Bluenest platform is also designed to give sellers full access
to the relevant data and incoming offers, affording them greater control over
their transactions. That way, clients need not worry about under-the-table
dealings by shady agents, as with the recent case of agent fraud in Singapore.

If the results are any indication, Bluenest’s approach of
leveraging technology to change the real estate landscape seems to be working
so far. The company closed its first deal in less than a week and has gained
good traction in the island-state since its launch in September this year.

About Bluenest: