Realestate.com.kh recently announced that it generated over 100 leads for property sales, and rentals, valued at over $14 million, within one month from the release of its new “Home Finder” feature on its website and app.
With the Home Finder, Realestate.com.kh hopes to create a stress-free property search experience for its customers and users by allowing them to key in specific requirements and instantly alerting agents and developers about these needs.
Home Finder takes the hassle away from property seekers or sellers when looking for the most trusted agents who can fulfill the specific needs highlighted in the form. Once a form is filled up it becomes a lead or opportunity and all the agents who have accounts with Realestate.com.kh will be alerted. The property seekers or sellers then will be referred to the leading agents in the industry.
However, to ensure that the platform remains user-friendly, it allows only the first five agents to take the opportunity or lead. It will disappear once five agents respond to it. It keeps users from not having to deal with many agents contacting them later trying to sell their services.
$14M+ in opportunities created with Home Finder
As of 20 November 2019, thirty days since launch, Home Finder has generated a total of 129 leads valued at $14,590,879 in potential property revenue for real estate agents in Cambodia, with each lead averaging at $113,108 value.
Total buy opportunities
There were 54 sales leads in total, worth approximately $14,520,299 in revenue. With a 3% standard commission fee, the total commission opportunity is $435,609. The average property purchase price was $268,894 and with a 3% commission rate, each lead is worth an average of $8,067 to the agent that is ultimately closing the deal.
Total rental opportunities
There were 58 rental leads in total during the 30 days, worth approximately $70,580 in total monthly rental value. With the average commission rate of three quarters of a month’s rent or 75%, the 58 leads generated around $52,935 in commissions for Realestate.com.kh’s clients. On average, each rental lead is valued at $1,217, with an average commission rate of $913.
Total sell opportunities
There were 17 leads for property for sale, worth approximately $2,096,000. With a 3% commission rate, the total opportunity in commission for agents is $62,880. Each lead is valued at an average of $123,294 and with a 3% rate, the average commission per lead amounts to $3,699.
Alex Sing, Agent Subscriptions and Software Manager for Realestate.com.kh said this new feature helps raise the level of transparency on the website and is providing more value to our agent clients, and ultimately making the home finding process in Cambodia easy and effortless for property seekers.
“The new Home Finder feature on Realestate.com.kh is another step towards transparency for agent clients and our end-consumers, the property seekers. The launch of this feature represents our continued commitment to listening to agents on what matters to them and taking action to better serve them. But ultimately this feature is for the end-users, providing them a satisfactory, more streamlined user experience,” he said.
Phan Soumy is a content writer at Realestate.com.kh
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