Proxperty, The Startup That Shall Help to Navigate The Real Estate Industry.
The global real estate industry it bursting with lucrative cash. During 2012, over $308 billion of global private wealth was invested into large-deal or, anything above $10 million, real estate market. Even with this incredible boom, The property market can be quite difficult to manage, both for purchases and real estates professionals.
While companies such as STPorperty and PropertyGuru have chipped in solve the problem of property search, co-founder and CEO of Proxperty, Nicv Thuang, believes that there aren’t enough tools to help real estate agents in property marketing, making sales, and developing a customer relationship. He had taken up stage recently as one of the the 10 chosen Startup Arena participants to pitch his solution for these problems.
“The real estate industry is still using Web 1.0 technology when it comes to transacting million dollar property deals, which is frustrating. We find it hard for real estate agents to work effectively and stay connected,” he said. “All the tools that have been developed for the real estate industry aren’t integrated, and real estate agents find them really hard to use as a whole.”
Thuang can personally relate to these exasperation, having previously worked himself for a total of three years with real estate firm DTZ. He wants to make it far more simpler for real estate experts by coming up with a suite of application that shall specificall address these matters agents have been experience when completing a sale.
The first solution for this problem would be Proxperty, an application that cross-post property listings to multiple property portals with a single-click. Thuang is tight-lipped on the exact amount of traction, but he revealed that ever since its beta launching five months ago, the team has managed to allure thousands of customers, along with some gorgeous looking five-figure revenue as well. The freemium application monetizes with in-app subscriptions.
They are currently in search of developing an application that shall help real estate agents send professional email newsletters towards their clients within minutes, instead of the usual one to two hours.
The biggest challenge for Proxperty’s so far, according to Thuang, is trying to locate employees who share the same dream as the founding team and being able to fit into its culture.
“We prefer to work with people whom we want to marry from day one and are able to work on the challenges together with us,” he explained. “We learned from past mistakes that not everyone is able to take our goals as their own – the team goal is important to align everybody’s else.”
The team is made up the three co-founders, who are working full-tine on Proxperty, as well as one leading engineer. The found team share a dream of bringing a social networking to the industry known as real estate.
Proxperty has received financial funding from Singapore’s i.JAM Scheme, and is looking towards securing a pre-series A round within the next 12 months in order to expand its scope of services and scale regionally.