While most startups put their focus on discovery of properties through listings, Getplace
connects users looking to buy or rent
properties with real estate brokers.
Think of it as an Uber
Much like the ride-hailing app, a person simply inputs their ideal property
or buy, property
type, area, and budget) and their request gets pushed to realtors on Getplace
through its matching algorithm.
The app prioritizes brokers
who will be able to help the client best and allows the parties to chat, share pictures and other media, and arrange a viewing right within the app.
Also similar to Uber, it has a rating system for weeding out bad property
has scored a pre-seed funding
round from Japanese VC firm IMJ Investment Partners and Manila-based Machine Ventures, but wouldn’t disclose the amount.
This “listingless” approach might be appealing for people who have a clear idea of the property
they would buy, but how about those who are still deciding and would like to browse through possible options?
makes money by getting a percentage of the broker’s commission on a sale. There’s no fee for brokers.
Since its launch in July, the app has processed over $400 million in requests from prospective renters or buyers, but Tim declines to share how much of that was converted into a sale, as well as other financial details such as the company’s revenue.
Getplace, registered in Singapore, selected the Philippines as its launch market due to the growing property
demand in the country. The company will use the capital it just raised to expand next year to new markets such as Singapore and Indonesia
This is an excerpt from Tech in Asia. You can read the full article here