Photo - Co-Founder of bumbung, Gadiy Lim, at launch in Kuala Lumpur.
According to Malaysian startup bumbung, it is the country's first tech-based real estate company and aims to link home seekers with established and reputable real-estate agents.
At the recent launch in Kuala Lumpur, co-founder Gadiy Lim said the idea for the startup, which was founded with Claire Berneron, was based on their personal experiences and observations on the local process of purchasing, renting and selling property.
"Our proposition was to create a bridge between home seekers looking for their dream homes and match them to the hardest working agents in the country who may have them. In that pursuit of bridging that gap, our KPI is to ensure each transaction and request is convenient, transparent and innovative," said Lim.
He said bumbung offered a cost and time efficient model that would benefit both home seekers and real estate agents. Home seekers can key in their requirements at the website and expect to be connected to five relevant properties or agents within 24 hours.
Lim said that one of the ways to add further value to home seekers was that real estate agents can list their property once, and will be notified by bumbung if a match is made with a listing in the database. Each listing will include pictures and detailed information about the property.
Revenue will be drawn from real estate agents, who will only be charged based on the number of confirmed viewings, which ensured a fair and equal chance of every property listed, he said.
Lim added that bumbung included a rating system for real estate agents, to attract "the best real estate property agents are in the platform and professional photography services for those looking to make their listings more presentable."
"Safety, trust and privacy was also a priority when it comes to vetting both users and real-estate agent, and a lot of attention was afforded in ensuring only licensed real-estate agents are listed in bumbung," he said, adding that during the pre-launch phase, bumbung has already attracted support from many real estate companies, such as Chester, MetroHomes, Homegates Realty, MegaHarta, ReMax Malaysia, and some of the local Reapfield offices.
"Our long-term goal is to become more than just a platform for our users, as Malaysia's first tech based real estate agency, we see it as our duty to that our users enjoy the process when looking for their dream homes," said Lim. "We are passionate about what we do, and we see property more than just dollars and cents, we want to ensure everyone gets a dream home, or rather a dream bumbung over their heads."
Sign up for MIS Asia eNewsletters.