A new Hybrid Marketplace Agency is disrupting traditional Real Estate Agencies.
By eliminating the friction between the Agent, the Platform and the Client, we created an ecosystem for our Agents to continuously build and maintain Client Relationships while delegating and automating their marketing efforts
Proptech company Pepite Technology Sdn Bhd, started a property marketplace (Bumbung.co) in 2016. As a lead generator for many different Agent/Agencies, they could generate quality leads but later realised that many of their clients were not getting the proper/prompt service as they were expecting from their matched Agents.
To date, Bumbung.co has provided over 7,000 client matches of whom are looking to buy and rent properties both houses and condominiums within central Klang Valley. “We asked almost all our Agents why they were not converting the leads that we’ve provided them, and to our surprise, we learnt that many of them don’t have the system or time in place for a proper CRM tool to manage their leads, marketing and listings,” said Lim, Co-founder and CEO at Bumbung.co. “What’s a bigger shocker is that some of these Agents and Negotiators hail from large real estate companies; Savills, Knight Frank, IQI, Reapfield, Remax and Metrohomes, where you have Agents who are dominating some markets,” he added.
Lim later stressed that Bumbung was able to continue pivoting despite the harsh conditions in the market and startup ecosystem was to quickly address the supply problem (listings). “We had to quickly reassess our value proposition to serve our Agent users, by eliminating the friction between the Agent, the Platform and the Client, we created an ecosystem for our Agents to continuously build and maintain Client Relationships while delegating and automating their marketing efforts. We acquired a licensed real estate Agency, and by doing so, we could legally transact all our deals through the platform.”
Bumbung has successfully built an Operating System (OS) that many local Agencies today can only dream of starting. It took them slightly longer than 3 years to where they need to get to, but as an entrepreneur, Lim and his other co-founders found it rewarding that we could take what we learned from the past Agencies they worked with and implement a better way around it as a solution towards innovating the process.
“The first place we looked at innovating was to figure out why Agents didn’t have the consistency in working on the leads that was provided for them, and many even found it difficult to start farming or create a system that builds around their focus area.” Said Lim
Seeing that it was not rocket-science, Bumbung’s team developed backend procedures to automate the online and on-ground marketing work and posting work to different portals. The result of which returned back Agents 30-40% of their valuable time that otherwise has been spent on doing similar of the repetitive low-value marketing work.
“Because of the slight innovation of the process, our Agents today are available to tackle the more important task at hand, to focus towards creating better, wider high-value relationships with existing and new potential clients,” according to Lim.
Bumbung.co | Fine Real Estate
Users who are looking to Buy or Sell their property can begin their journey on Bumbung.co with a simple search or list your property to sell / rent. Bumbung’s team of Agents will perform a pre-valuation check on your property for the right price to market. Their team of Agents currently covers affluent markets in the Klang Valley for residential and commercial properties valued in the ranges of RM 1 mil and above.
You can find listings and houses for Sale in TTDI, Bangsar, Damansara Uptown, Tropicana, Ara Damansara, Saujana, Petaling Jaya and other areas on their website.
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