Regional News

Malaysian Startup Bumbung Connects Homeseekers With Agents

By Anna Game-Lopata 2 Comments NEWS, Regional News
bumbunglaunch03

Bumbung co-founders Gadiy Lim and Claire Berneron

Malaysian proptech startup Bumbung connects users who've keyed in their requirements to five relevant properties or agents.

Co-founders Gadiy Lim and Claire Berneron were looking to create a long-term solution for both home seekers and real estate agents.

Bumbung, which means 'roof' in Malay, is the result of their personal experiences and observations of the process of searching and viewing a property.

Their plan was to create an innovative, cost and time efficient model that would solve some of the existing problems and benefit both home seekers and real estate agents.

For real estate agents, Bumbung offers an easy-to-use mobile application that allows them to manage their leads and listings. They only need to list their properties once to receive notifications through the Bumbung app if a user makes a request that fits one of their listings.

The duo say each listing will be vetted through before it gets sent to users.

"Bumbung also offers high quality photo services for agents as an added service," says Lim."Partner agencies and agents who have exclusive listing may currently request for a free photo shoot via agents@bumbung.co."

Lim says the platform moves away from traditional property on which "agents purely gamble on advertising on the front page and wait for miraculous phone calls".

"Why do users risk going with the wrong agents who waste their time showing the wrong houses?

"Our proposition is to create a bridge between home seekers looking for their dream homes by matching them to the best agents in the area who have the closest fit of the property,
he says.

"In that pursuit of bridging that gap, our goal is to ensure each viewing process is convenient, transparent and time saving."

Lim adds one of the startup's key differentiators is that real estate agents will only be charged based on the number of confirmed viewings, which he says ensures a fair and equal chance for every property listed.

"Other key things that makes Bumbung stand out include a rating system for real estate agents, ensuring only the best real estate property agents are on 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 real-estate agents are licensed and verified on Bumbung," he says.

In terms of revenue, the startup charges agents for every genuine lead that gets matched to their property stock.  Unlike many typical ad based portals, agents are not charged to upload listings.
"When users have put in a request for an area or listing, our algorithm cleverly matches them a listing in the areas we cover, currently just the Klang Valley," Lim explains.
"Agents who have matching listings will be pinged and are given the choice if they want to push their listings to the buyer/tenant. We charge agents on agreed viewing appointments from there."
For agents, the 'Bumbung for Agents' app is ready to download from the AppStore and Playstore.
The company is currently giving out 3 free credits for every agent who downloads the app. A prepaid system allows agents to purchase the amount they are comfortable with of an approximate of RM10 per credit.
"We're partnering agencies to push out our efforts to have a high quality curated listings. In exchange, we are giving better rates,' lim says.

 

Of Bumbung's  long-term goal, Lim says he hopes the business will become more than just a platform for its users.

"As Malaysia's real estate-based tech company, we see it as our duty that our users enjoy the process when looking for their dream homes.

"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!"

In the months leading up to its official launch, the startup claims it has gained traction and support from numerous real estate companies including Chester, MetroHomes, Homegates Realty Sdn Bhd, MegaHarta, ReMax Malaysia and some of the local Reapfield offices.

 

Comments

  • Stanley
    June 2, 2016

    What a great service !

  • Chong
    December 2, 2016

    There is another similar C2C property rent marketplace – Roomz Asia. Getting more and more startups like this in ASEAN, which is good to catch the boom.

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