PLB and EdgeProp sign tech-sharing agreement to deepen collaboration
By Timothy Tay
/ EdgeProp Singapore |
EdgeProp CEO Bernard Tong (left) and PLB Realty CEO Melvin Lim. (Picture: Albert Chua/The Edge Singapore)
SINGAPORE (EDGEPROP) - Property analytics platform and news portal EdgeProp Singapore, and boutique real estate agency PropertyLimBrothers Realty (PLB), have signed an MOU to deepen the synergies between the two companies.
The two will start a technology-sharing agreement that will give PLB access to EdgeProp’s full suite of proprietary property analytics tools, which can be customised for the PLB’s platform to provide its agents access to the latest market data and analytics.
PLB Realty co-founder and CEO Melvin Lim says the agency is banking on property technology (proptech) and market analytics tools to power the company’s future growth. Melvin and the other PLB co-founder Adrian Lim officially launched themselves as PLB Realty in September 2022.
“For real estate agents to remain relevant and knowledgeable, we must keep ourselves up to date on the latest market trends to value-add the services we can offer our clients. At PLB, our agents regularly use analytics like data comparison and price projections to advise our clients,” says Melvin.
PLB agents will get full access to the suite of EdgeProp’s analytics tools. (Graphs: EdgeProp/PLB)
This increasing reliance on data to make better property decisions is the direction the local property market is heading towards, says EdgeProp Singapore CEO Bernard Tong. He says salespersons who incorporate proptech into their services tend to stand out and open more avenues for them to succeed in a competitive market.
According to Tong, the MOU allows EdgeProp and PLB to collaborate and partner in future endeavours, such as consumer talks and seminars for real estate professionals. The EdgeProp team worked closely with PLB to customise the front-facing portion of their platform to suit their agents’ needs, although EdgeProp still engineers the tools.
“We felt confident leveraging EdgeProp’s suite of analytics tools given its established and recognised position in the local market as a reliable data provider. I have been using some of their tools for the past 10 years,” says Melvin.
The signing of the MOU on June 6. From left: Marc Chan, director of sales and listing team lead, PLB Realty; Melvin Lim, CEO and co-founder, PLB Realty; Bernard Tong, CEO of EdgeProp Singapore, and Shermie Tee, EdgeProp Singapore vice-president, agency sales and training. (Picture: Albert Chua/The Edge Singapore)
In Singapore, EdgeProp was the first to roll out Tower View, where users can view property prices in development by stacks or based on storeys. This tool was among the first to let users view the development floor plans.
Melvin says that the team at PLB that handles the marketing and sales of landed properties frequently use EdgeProp’s Inspector tool to aid them in areas such as lot subdivision, land zoning and other land lot information. EdgeProp’s tools are also used in their new launch comparison and educational content by the in-house media team.
“I am happy that the relationship between the two companies has progressed to a stage that opens new doors for future collaborative opportunities for both sides, and this MOU is the result of our like-minded aim of educating the public about using data to make better property decisions,” says Tong.
PLB agents will also have full access to our full suite of analytics, including LandLens. (Map: EdgeProp)
He adds that he sees many overlaps and similarities in both companies’ business approaches regarding media content and editorial coverage. “PLB has produced a steady stream of educational videos, and one of EdgeProp’s strengths is the breadth of our news and editorial coverage of the market.”
The operating environment is also shifting as consumers become more tech-savvy, and agencies or portals not supported by data and analytics will find it more challenging to support buyers and sellers in making educated property decisions, says Tong.
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