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
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