SINGAPORE — It promises to bring greater trust and transparency to property transactions among agents, buyers and sellers by providing more information on prices offered by various interested parties for properties on sale.
Called FindNest, it is one of several online ventures launched in recent months that are aimed at providing parties in a sale or rental of a property with more information.
Such ventures are drawing a mix of approval and scepticism from the market.
Launched earlier this month, FindNest provides an open price bidding platform where buyers and sellers can update their desired prices on a website for the consideration of other parties.
Currently in a pilot with HSR International Realtors, FindNest has more than 300 listings from more than 50 agents.
“Buying and selling is done more or less through an agent, so agents kind of control all the information flow between buyers and sellers. With FindNest, it’s a lot more transparent,” said Mr Joshua Koh, creator of the website.
By allowing buyers to list their requirements and encouraging sellers to bid for buyers’ business, FindNest would help make the market more efficient and productive, said Mr Koh.
Other newer platforms competing with industry giants such as Property-Guru and STProperty to provide consumers with access to information on property listings and transacted prices in rental and buying markets include the SRX Home Search App recently launched by the Singapore Real Estate Exchange, while websites such as PlaceMatch and Homie cover the rental market.
The Government’s OneMap website also offers information on transacted prices of public and private property in a given geographical location.