Property cashback platform PropRebate launches in Malaysia
By Digital News Asia June 15, 2018
- Keys in buyer requirements and connects them with a network of sellers and agents
- Checks with banks will verify the buyer’s ability to obtain a mortgage
PEPITE Technology Sdn Bhd announces their newly-launched property cashback platform, PropRebate.com, a service that assists home buyers purchase their dream property by simplifying and shortening the process.
With the local real estate industry generally unshaken by the technological revolution, the overall structure of the industry is cumbersome. Gadiy Lim, the co-founder of Bumbung.co alongside chief technology officer Ped Rahmati, who previously served as the Director of Software Engineering at Monster Technologies Malaysia disrupted the property purchasing process by combining a few steps and creating value through cashback benefits.
PropRebate aims to save time and create cost efficiencies for buyers by directly keying in their requirements and connecting them with a network of sellers and agents with five relevant listings.
With the buyer’s knowledge, a check with banks will verify the buyer’s ability to obtain a mortgage, improving the quality of each buyer.
Buyers will no longer be left in the dark worrying that their loan may be rejected. The verification in the buyers report generated by PropRebate will be a bargaining point for sellers to act swiftly to secure a serious buyer.
A buyer can also request for a property that they’ve already been eyeing by getting in touch with PropRebate. The property’s agent/seller will be contacted by PropRebate and invited onto the platform.
Once a property is bought/ old, the buyer uploads their copy of the stamped and signed Sales and Purchase Agreement (SPA) to PropRebate.com and can benefit from the additional cashback (starting from RM1,500 for the lowest property price of RM300,000).
“We understand what property buyers are going through and with today’s listing platforms, the buyers are faced with too much noise among the hundreds of thousands of listings. We took this as an opportunity to create something valuable for buyers. By innovating the purchasing process that buyers and sellers have to deal with, we ultimately shorten the property acquisition process to as few steps as possible.” said Gadiy.
The platform also acts as a lead generation engine for local real estate agents, guaranteeing hassle free deals with serious buyers.
Alleviating the worries of property agents, Lim said that PropRebate does not remove them but engages their professional services in handling the showing of premises, deposits and the conveyance of the property.
“The real estate industry has not been impacted by disruption and has grown to become a market with a lot of supply. We see this as an advantage; our aim is to quickly be the market leader for demand. We’ve seen a positive uptake as we’ve successfully seen four out of five buyers go on their first property viewing within the same week,” added Lim.