Friday, 9 December 2011

Singapore real estate goes digital

real estate
In December, Singapore’s leading real estate agencies officially launched the Singapore Real Estate Exchange (SRX) with StreetSine™ at a ceremony attended by industry leaders, government officials, regulators, professors from Singapore’s leading universities and members of the media.

SRX is an electronic network powered by StreetSine Technology that allows leading estate agencies and sales people to access a realtime system and source the information they need to conduct real estate transactions. StreetSine and market leaders PropNex, HSR, DWG, and OrangeTee soft-launched the Exchange in July last year as part of a coordinated industry effort to share proprietary pricing information and increase efficiency, productivity, and transparency in the property market. SRX quickly expanded its member companies to include most of the market, including ERA, C&H, ECG, DTZ, Huttons, Savills, and ReMax.

Within hours of closing a sale or rental, the agent submits the transacted price and because the agency is linked electronically to the SRX database, it is immediately distributed on an anonymous basis to the entire SRX network and can be used to price other homes using comparable market analysis. On average, SRX receives 300 sales and rental transactions a day. The sales transactions are posted on the SRX weeks or months before they are published by URA or HDB and no other source in Singapore has rental transactions.

Source : http://www.property-report.com

11 comments:

  1. Well, with any housing sectors that are either falling or improving, one thing is for sure - that technology itself helps the industry to grow and innovate itself as well. arizona real estate continuing education

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  4. Congratulations Matt Cutt! Thank you so much for taking the time to share this exciting information.
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  5. This is a real scoop for everybody. This is an interesting blog page. I do hope you could do some more post. Good job!

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  6. The heading itself is simply explanatory and attention grabbing. I would like to mention that in Singapore I am planning to make an investment and this is so informational blog for me.

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  7. Digitalization is the concept that is reserving its space in each profession and real estate is the profession which has now gone into digitalization.

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  11. Singapore has always been a technologically-advanced country. This blog post shows that it extends to its real estate.

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