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[Press Release] MOGUL.SG Transforms Singapore Property Market With 0% Commission Selling

Southeast Asia’s most advanced property portal democratises property selling by giving users free digital tools that empowers them with rich data insights and providing a property concierge who delivers a full range of personalised services for 0% sales commission.




MARCH 2023, SINGAPORE - MOGUL.sg today unveiled its new online platform where homeowners can sell their property at 0% sales commission, a first in Southeast-Asia’s bustling real estate scene.


The 0% sales commission is made possible by technologies that MOGUL.sg has built to democratise the selling process - using geospatial data and advanced tools that deliver insights, which in turn empowers homeowners while providing significant cost savings.


For example, on the MOGUL.sg portal, users can quickly discover how different properties in the same neighbourhood may vary in price, and even see how much sunlight each property receives in a day.


MOGUL.sg’s ‘M-Value’ further assists users by generating an estimated valuation by using machine learning algorithms to analyze multiple geographical and transactional factors.


This is the first time sellers and buyers have a treasure trove of rich and accurate data made available to them, enabling smarter buying and selling decisions.


WIELD PROPERTY DATA FOR OPTIMAL PRICING


CEO and founder Gerald Sim believes that MOGUL.sg will transform the way the real estate industry has operated for decades.


Mr Sim said: “Until now, homeowners have not been able to access rich points of data that truly determine the value of their apartment or home. Thus, they had to rely on third parties to help them.


“By using MOGUL.sg’s technologies, homeowners can now wield property data to set optimal prices that the market will readily accept.


“And instead of browsing many property listings, homeowners can now study property values in a 3D map that provides a deeper understanding of the location.


“Home sellers and buyers have been constantly looking to lower their transaction costs and we are here to make it happen.”


SAVING COSTS


MOGUL.sg’s 0% sales commission service works by assigning a property concierge to the homeowner.


The assigned concierge is equipped with data tools and insights that reduce the number of steps and processes involved in putting a property up for sale, thus making the 0% sales commission possible.


This concierge then provides a full range of personalised selling services to the homeowner.

In place of commission fees, MOGUL.sg will charge a $150 administrative fee to home sellers.


CUTTING DOWN TIME


Homeowners can get instant and free access to a wealth of data, put their property up for sale and be represented by a MOGUL partnered agent in a matter of minutes instead of days.


Most homeowners in Singapore rely on the advice of real estate agents to provide an assessment of their property. They can also consult real estate agencies for the latest details.


MOGUL.sg facilitates this process by guiding sellers and offering advanced data slicing tools previously available only on financial trading portals.


With a few clicks, MOGUL.sg users can locate their property on Singapore’s most advanced 3D real-estate map and access visualised data.


The contextual data includes detailed maps and analyses of the latest property transactions in the area, nearest amenities, environment data like the amount of sunlight a unit receives at any point of time in the day, and more.


Users can dive deeper by slicing the data with filters and dynamic graphing tools.


LOWERING CARBON FOOTPRINT


MOGUL.sg not only saves stakeholders time and money, it also reduces the property industry’s carbon footprint by digitalising many processes and eliminating unnecessary transport costs and emission.


Mr Sim said, “The process of selling a home can be expensive, time-consuming and requires a lot of trips for clients and real estate agents.


“But with our data tools, 3D Maps and our 0% sales commission service, it's possible to save costs and lower the carbon footprint associated with selling a home. MOGUL.sg invites everyone to adopt our free tools to save time and money.


In the near future, we hope to extend our readily available solutions to real estate developers and government institutions to reduce the carbon footprint generated by the real estate industry.”


DEEPER LOOK AT MOGUL.SG TECHNOLOGIES


To cut the valuation process to a few minutes, MOGUL.sg has rolled out the following innovations:


1. DataSuite

MOGUL’s DataSuite is a one-stop search solution designed for home buyers, sellers and property agents. Powered by geospatial data, MOGUL’s DataSuite aggregates past property transactions to provide in-depth search results. As such, DataSuite empowers users to draw insights to the transacted values. With interactive filters and dynamic data visualisation, MOGUL’s DataSuite is accessible, user-focused and most importantly, totally free to use.


2. “M Value”, An Automated Valuation Model

Harnessing the power of hedonic regression mathematics, MOGUL.sg will analyse multiple property values, historical transactions and environmental factors to provide a pricing estimate known as ‘M Value’ (MOGUL Value). This will help users make a more informed valuation.


3. Saving Time And Money, Working Towards Sustainability.

Multiple steps and processes are frequently involved in the selling of a property that consume time and money – for example, a property agent having to commute to a property just to take the photos of the interior.


By encouraging and enabling users to upload their own photos via the MOGUL.sg website, home sellers not only save time and money, they help reduce the carbon footprint created by the industry and drive greater sustainability for the planet.


4. One Fixed Price, No More Bargaining

MOGUL’s property concierge service helps connect the customer with a real estate agent from a partnered agency. They are then able to advise the seller with the best suggested selling price, along with the full range of professional services at a fixed price of $150.


“In the course of business, agents incur a large number of expenses as we have to subscribe to a number of data services and marketing portals in order to provide the best results for our clients. Furthermore, the costs of these services are increasing annually.

MOGUL.sg's DataSuite provides all the data insights that we look for - free of charge - which helps us to greatly reduce our costs and improve our productivity.”

Frank Wong,

Senior Associate Group District Director,

PropNex Realty Pte Ltd


ABOUT MOGUL.sg


MOGUL.sg is a Singapore-based PropTech company that harnesses geospatial data insights to improve productivity and to create hyperlocal, personalised experiences for respective real estate stakeholders. Utilising cutting-edge tech in our products such as our 3D Map and DataSuite, MOGUL’s vision is to transform and radicalise the real estate journey for each and every individual.


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This press release was written in conjunction with our PR partners, GLOO PR and their staff of account managers and copywriters.




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