Pepite Technology Sdn Bhd is launching a new property cashback platform to compete in the ever-evolving real estate marketplace in Malaysia.
PropRebate.com is a service that assists prospective home buyers with purchasing the property they desire by simplifying and shortening the process entirely.
With the local real estate industry being somewhat unshaken by the ever-evolving technological revolution over the past years, the overall structure of the industry has proven outdated and inconvenient, causing Gadiy Lim, the co-founder of Bumbung.co alongside Chief Technology Officer Ped Rahmati, who previously served as the Director of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 to bring about the positive change with the disruption of the property purchasing processes by combining a few steps and creating value through cashback benefits.
PropRebate aims to bring about time and cost efficiency for property buyers by directly keying in their requirements and connecting them with its vast network of sellers and agents which has five relevant listings. With the buyer’s knowledge, a quick check with the bank will verify the buyer for their ability to attain a mortgage loan, improving the quality of each buyer. For the first time, buyers will no longer be left in the dark knowing that their loan may be rejected (which actually affects the buyer’s ability to attain a loan next time).
The verification of buyers in the buyer's report generated by PropRebate will be a bargaining point for sellers to act swiftly to secure a serious buyer.
A buyer could also request a property that they’ve already been eyeing on by getting in touch with PropRebate to notify them, the property’s Agent / Seller will be contacted by PropRebate to invite them on to the platform.
Once a property is bought/sold, the buyer uploads their copy of the stamped and signed Sales and Purchase Agreement (SPA) to PropRebate.com and can benefit on the additional cash back from PropRebate (starting from RM1,500 for the smallest property price of RM300k).
“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 which does not help to make home finding easier but instead adds on to time consumption. Fortunately, we took this as an opportunity to create something valuable for our buyers. By innovating the purchasing process that buyers and sellers have to deal with, we ultimately shorten the property acquisition process down to as little steps as possible.” said Gadiy, co-founder of Proprebate.
The platform also secondarily acts as a support system to local real estate agents as a lead generation engine, guaranteeing hassle-free deals with serious buyers.
When asked about if it is removing Agents out from the property deals, Lim responded, “PropRebate does not remove them, but we engage them for their professional services of handling the opening 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 an infinite supply. We see this as an advantage; our aim is to quickly be the market leader for demand (buyer’s). We’ve seen a positive take as we’ve successfully seen 4 of 5 buyers go on their first property viewing within the same week.” added Lim.
Edited by Victoria Haviland
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