Property analytics platform EdgeProp Singapore, as well as the news site EdgeProp Singapore, and boutique real estate agency PropertyLimBrothers Realty (PLB), have entered into an MOU in order to enhance the synergies of the two companies.
The two parties will sign an agreement for technology sharing which will grant PLB the access to EdgeProp’s entire range of proprietary property analytics tools. These can be customized to fit the PLB’s platform, giving its agents with access to the latest market information and analysis.
PLB Realty’s co-founder, CEO Melvin Lim says the agency is relying upon property technological innovation (proptech) as well as market analysis tools in order to fuel the future growth of the company. Melvin along with Adrian Lim, the another PLB Co-founder Adrian Lim officially launched themselves as PLB Realty in September 2022.
“For the real estate professionals to be current and well-informed, we need to stay up to current with the latest market trends in order to enhance our services to our clients. At PLB Agents at PLB regularly utilize analytics like price projections and data comparison to provide advice to their clients.” Melvin says. Melvin.
The increasing use of data to help make more informed property choices is the way that the market for the local property market is headed towards, according to EdgeProp Singapore CEO Bernard Tong. He believes that salespeople who incorporate proptech into their offerings are likely to be noticed and provide opportunities for them to be successful in a highly competitive market.
According to Tong Tong, the MOU will allow EdgeProp along with PLB to work together and collaborate in the future including consumer training and talks for professionals in the field of real estate. The EdgeProp team collaborated in close collaboration with PLB to customize their front-facing part of their platform in order to accommodate the needs of their agents, though EdgeProp is still the one who developed the tools.
“We were confident in using EdgeProp’s tools for analytics because of its established and well-known place within the local market as a trusted data provider. I’ve been using some of their tools over the last 10 years,” says Melvin.
When it came to Singapore, EdgeProp was the first to launch Tower View which allows users could view property prices under development through stacks or in relation to storeys. EdgeProp was among the first tools to allow users to view the floor plans of development.
Melvin mentions that the group at PLB who manages the marketing and sales of land properties often utilize EdgeProp’s Inspector tool to help them with areas like lot subdivision land zoning, lot subdivision and other details about land parcels. EdgeProp’s tools are also utilized for their latest launch comparision and educational content created by the media department in house.
“I am pleased that the partnership between our two companies has advanced to the point where it opens up opportunities for collaboration for both parties This MOU was the result from our common goal to educate the public about the use of information to help make more informed property choices,” says Tong.
He also notes that there are numerous similarities and overlaps in the business strategies of both companies in regards to editorial and media coverage. “PLB has created a constant flow of educational videos and one of the strengths of EdgeProp is the range of our editorial and news reportage of market.”
The working environment is changing as people become technologically adept, and agents or portals that are not supported by analytics and data will be more unable to aid buyers and sellers to make informed property choices, according to Tong.