The Future Of Real Estate Driven By Big Data Analytics

ERA Trusted Advisers elevating real estate advisory with revolutionary PropTech, empowering them to make well-informed, data-driven decisions for homebuyers

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SINGAPORE
- Media OutReach - 20
November 2019 – ERA Realty Network (ERA) is driving its entire sales force towards
becoming more efficient data-driven property advisers by capitalising on big
data analytics. Latest updates on the agency’s in-house mobile application
(iERA) will enable salespersons to view real-time market trends reports,
enabling them with the most accurate of property information and well-informed
advisory services for their clients.

A
walkthrough of the new features on the app was done during ERA Q4’19 Career
Advancement Day on 12 November 2019. Held every quarter by the best real estate
agency in Singapore, as awarded by International Property Awards, the event was
attended by over 1,000 real estate top leaders and achievers.

“As
technology advances, so must we. It is imperative for us to be at the top of
our game, which is why we continually enhance the iERA app for our teammates to
leverage for their business. In turn, this benefits clients as they will be
able to make better decisions with our data-driven advisory services. It’s a
win-win situation,” says Mr Jack Chua, Chief Executive Officer, ERA.

 

ERA Trusted
Advisers can now generate property market trends using real-time data via the
iERA app, enabling them with the most accurate of information for their clients

Pulling
statistics from multiple data points such as Urban Redevelopment Authority and Housing and
Development Board, the enhanced iERA app is capable of producing market trend
reports in data-driven charts based on Property Category, Year From, Property
Type, Project Names, Districts, Street Name, Region and Tenure; with additional
comparison function based on Average PSF or Volumes, in real-time. There are
also other advanced options available for deeper analyses and agents can easily
share such reports with their clients.

The app now
also features a new function called the “Tower View”, which provides the
transaction data for an entire project. Salespersons can now easily view the
latest Transaction Prices and Price Per Square Foot of any tower of interest,
no matter Private Residential or Commercial/Industrial.

 

New
homes prospecting gone digital with Project Webs

The latest
personalised ‘Project Webs’ function is the most revolutionary tool to be ever
released in the iERA app at zero cost to ERA salespersons, thus saving precious
time and money to focus on providing professional real estate advisory to
clients.

 

In line
with the agency’s move to harness the power of digital, one of its newest app
features provides access to a library of developer-grade high converting
websites, allowing agents to publish their own new launch project websites,
simply by the click of a few buttons.

 

Agents are
also able to customise lists of projects suited to the clients’ needs,
personalising their services and further positioning them as ‘trusted
advisers’.

Showcasing
professionalism on Personal Web

 

Questions
on ethical standards about the industry have surfaced recently, following a
case on unprofessional services by a salesperson from another agency. There are
a total of 15 salespersons who have received disciplinary action and suspension
this year. While 11 of them come from the two largest listed agencies in
Singapore, only 1 suspended salesperson is from ERA. “The number of complaints
we have received is less than 0.1% on average. Taking into account the volume
of transactions we do in a year, the percentage is considered very small,” says
Chua.

 

To ensure
that ERA agents always maintain the highest standards of ethics and
professionalism, every salesperson showcases their professional credentials on
the Personal Web, a customised website reflecting their Profile, Transaction
Statistics, Customer Reviews, Award Received, Training Attended, Project
Listings and Existing Listings.

 

The latest
Personal Web update also boasts the integration of the Events/Seminars feature,
allowing ERA agents to personally invite their customers and external
salespersons to such events, and manage follow-up action.

 

Empowering future real estate advisers with
iERA analytics

Released in
August this year, the data-crunching app is capable of producing comprehensive reports
of where potential sellers are, based on strategic targeting of certain
projects or areas such as:  

 

• Temporary
  Occupation Period of Condos by District (announced in Q3)
• Minimum
  Occupation Period (MOP) of Executive Condos by District
• MOP
  of Built-To-Order projects by Estate
• Potential
  Resale Sellers by Profitable Transactions
• Profitable
  Resales by Gross Profit Percent
• Resale
  Condo units sitting on profit
• Transaction
  Data of Private Residential or Commercial/Industrial projects by Block

 

“We want to
enable a more seamless and efficient real estate experience for both our agents
and clients,” says Chua. “In the next year, the iERA app will continue to evolve
alongside digital advancements, to serve them to the best of our abilities,” he
adds.

About ERA

ERA Realty Network Pte Ltd (ERA) has been setting and redefining industry
standards through the pioneering of real estate concepts, technologies,
initiatives and services since its inception in 1982. ERA is a wholly-owned
subsidiary of SGX Mainboard Listed, APAC Realty Limited.

 

Headquartered in Singapore, ERA Asia Pacific has a vast network of
offices throughout the Asia Pacific region with over 17,818 associates spanning
across 9 other countries: Cambodia, China, Indonesia, Japan, Korea, Malaysia,
Thailand, Taiwan and Vietnam. In February 2019, APAC Realty announced its
acquisition of the ERA master franchisor for Indonesia and also taking direct
ownership of the Thailand ERA master franchise through a partnership.

 

In Singapore, we are one of the largest real estate agencies with over
6,818 associates, providing a diverse range of professional services and
solutions for: Private and HDB residential resale, residential leasing, project
marketing, commercial and industrial, property management, auction, valuation
and research.

 

Through extensive network, innovative technological tools and refining
the Ultimate Agent Training Programme, a series of specially curated training
courses developed for ERA associates, over the years, ERA is able to
revolutionise their associates’ skills, equip them with the latest trends and
insights of the property market, and help them stay ahead of the competition.

 

ERA
Realty Network Pte Ltd

Estate
Agent License No. L3002382K

Mountbatten
Square

229
Mountbatten Road #03-01

Singapore
398007