SINGAPORE, Sept. 24, 2024 /PRNewswire/ --MOGUL.sg, Singapore's leading property technology (PropTech) company, proudly announces a significant milestone in its mission to revolutionize the real estate industry. Since launching its 0% Commission offer a year ago, Mogul.sg has helped customers save over SGD 1 million in commission fees, with home sellers saving up to SGD 34,000. As of August 2024, over SGD 50 million worth of properties have been sold through MOGUL.sg.
MOGUL.sg CEO Gerald Sim (right) and COO Goh Chun Kiat (left)
"We're thrilled with the success of our 0% Commission offer, helping hundreds of home sellers in under twelve months. We saw an increased demand for our services following the Government's launch of the HDB Flat Portal, which helped us achieve the $50 million milestone. It has also further reassured users that real estate transactions can be completed without the need to pay agent commissions. Though over 70% of our users are HDB owners, we are steadily seeing more private homeowners using our service as well." said Gerald Sim, CEO of MOGUL.sg.
MOGUL.sg aims to provide a seamless and transparent property viewing, buying, and selling experience by incorporating Artificial Intelligence (AI), geospatial data, and 3D mapping into a comprehensive end-to-end solution. These technologies enable smart, contextual search capabilities, advanced property valuation and visualization tools, and access to detailed property data analytics, helping users make informed decisions throughout the process. Through its 0% Commission Offer, MOGUL.sg provides home sellers with a user-friendly, personalized approach, reducing the need for real estate agents and saving sellers 2-3% in commission fees. For an SGD 150 registration fee, Mogul lists properties across multiple platforms, manages viewings, and provides full agent-like support. Additionally, sellers benefit from a 90-day money-back guarantee if the property remains unsold after that period.
MOGUL.sg customers have experienced real success, as Mary Ho,a satisfied seller, shared, "It took only four weeks for my property to sell after being listed. I received inquiries within 3-4 days and received three offers from four viewings. I saved about 2% of the sale price, which will now go towards my retirement." Similarly, Humphrey Boon, another satisfied MOGUL.sg customer, said, "Mogul helped me sell my property for a record price in just six weeks. I don't think it's worth paying a 2% commission to wait three months or longer and still risk not getting the price I want."
Since its inception in 2019, Mogul has served over 300 customers, guiding them through the transaction process and offering value-added services such as mortgage assistance, house moving and conveyancing through its partner network. Currently holding a 3% market share, MOGUL.sg plans to expand to 10% over the next 12 months through an upcoming capital raise.
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About MOGUL.sg
Founded in 2019, MOGUL.sg is a trailblazing real estate platform in Singapore, using geospatial technology, 3D maps, and AI to disrupt traditional property transaction processes. MOGUL.sg simplifies the buying, renting, and selling process with generative AI and interactive data, making real estate transactions faster, cost-effective and more efficient. MOGUL.sg works alongside the public sector, utilizing its technology to address emergency housing challenges in times of crisis.