You’ve probably heard us before, but we’ve got a pretty good tech stack in relation to what we’ve built here, specifically Thailand and Southeast Asia. And basically I’ll try and walk through you how we differ from a traditional portal and what different functionalities we have. And just interrupt me if you have any questions along the way.
Okay, so in relation to Faz, we have multiple different sites for not just one country, but each language. And the reason why we did this is a few years ago when Matula looked at acquiring Fazwas, we kind of looked at their strategy and how they were doing this. We realized that having language specific sites when we’re looking at countries actually helped us rank as opposed to having one site for six languages.
So an example of this would be if I scroll to the bottom, even in Thailand, we’ve got a Fazbaz.com, we’ve got a Thai site, Chinese site, French site and German site. And they’re all separate domains.
So if I switch, for example, to Thailand, you’ll see Fazwas, Co PH, and if I switch to German, you’ll see FazWaz de and the same as you go through all the different languages, fr, so you’ve got Fazwas, French. Now, not to try and confuse you, but some sites we have language regional specific. So for example, in Thai fazwas co PH just serves Thailand only.
So on here, this is only purely Thailand. But if you went to a German site, this is servicing all the regions that we have. You can see pen on pen.
In here you can see Dubai. Some sites are Language Pacific. So firstborn Co Ch, and then you have more language global sites like German, French, Chinese and Russian.
So there’s actually quite a lot of domains actually floats around. We’re not just Fazbas.com, there’s a huge amount of domains for even just Thailand for specific and what it allows us to do.
For example, in German we’re number one. In French. We’re number one.
Chinese were number one. Russian were probably not in relation to Thailand specifically. So it allows us to really capitalize on the international markets in each region.
And for the actual global regional sites like German, we do very well, not just in Thailand, in all regions that we serve and how it works. I’ll give you a list of all the countries that currently the actual group sites have. Let me just go back to English because I can’t read all this 1 second.
So if I go to all countries, you can see here that we’ve got platforms in Asia, middle East Africa, Caribbean, South America, central America and North America. And when we say platforms and how this actually works. So our main businesses, our core business is only Thailand.
But what we did was our technology is so scalable that to launch another country in another region is under a day’s work for us and very little maintenance fee. And this is all fully humanly, translated based on rules, as opposed to Google Translate. So when you go on to, for example, if you went onto, I don’t know, Myanmar, for example, and had a look at the platform, this is all fully localized.
It all actually makes sense. It’s not just a Google translated FazWaz is even in Thailand. It’s much bigger than the it’s basically made up of the.com,
which is English co ch, which is Thai, the German, the French, the Chinese and the Russian. And even if you went to somewhere like FazWaz CN, which is the Chinese site, this is actually hosted in China, and they all work slightly differently. So this would use something like it would use Baidu maps, which is not blocked in China.
So it’s all very localized to work behind their firewall, et cetera, et cetera. And this is all fully configurable on our back end. So what happened with FazWaz is we went through three evolutions of the platform.
So we’ve actually built this from scratch three times, which is a bad thing and a good thing. It’s a bad thing because it’s very expensive to do this. The good thing is, along the way, we didn’t just hack at the platform, we went back and rebuilt.
So now everything is configurable and variable. So we can easily flip, for example, one of the websites use a different form of a map or a different skin or work slightly differently. And that’s all done through our admin panel.
So it’s all very customizable. And mentioning before, the difference between regional and global sites is, for example, Fazbas.com is just Thailand for English people, whereas a global site would be like Fazbas De, which has maybe ten to 20 countries on there.
Okay? And what that works is that Synergy’s SEO is that there is no relation between, say, Chinese and English. Chinese speakers are not looking to view the same page in English, but Chinese speakers are looking to not just view Thailand, but other regions. So it makes sense for both the user experience and also from a Google ranking perspective.
So when we look at a lot of the know the ability for us to rank, everything’s going up like this very quickly. So we gained a lot of traction across our kind of global basis. Now, why did we do this? I think that the reality was, one, we want to capitalize on all languages in one market.
The second was that we planted a seed. It was so cost efficient to actually launch other regions. We launched multiple regions to see which ones actually worked and started providing us with good lead flow and the ability to rank.
And we’ve seen this not just in the UAE. We rank very well in Vietnam, which were probably number one in relation to English platform. Indonesia, we do very well.
And a load of other regions across South America, like Costa Rica, we do very well. Bali as well. We do very well.
Specific regions, sorry, my follow sign there when I was talking specific regions, we do well, and we can share all the stats with you in relation to how well we do, not just in Thailand, but outside Thailand as well. And the reason why we’ve done all this as well as partly, is that we’re actually transacting. We’ve realized that we can centralize the team in Thailand and utilize the platform to transact in any country.
So at the moment, from Central and Thailand at the moment, this is actually transacting. We transact in the UAE, Cambodia, Thailand, and now we’re looking to expand to other regions. And actually, the actual footprint doesn’t cost us very much to do it.
It’s just all a centralized process that’s an intro to the websites, how it works, all different languages we have. So if you went to just one more demonstration of this, if you went to FazWaz Ae, which is, say, our UAE platform, obviously it’s in English. If you switch to Arabic, it’s all customized, it’s back to front, it’s all done properly.
So even the map goes backwards and all the text goes backwards. So it’s all built for effectively the localized market. So it’s all done very well.
Do you have any questions in relation to the countries, how the sites, the languages differentiate, or was that kind of a clear overview? Yeah, I do have a question. So when you say that Fazwas, for example, you have different domains and different language, the idea is to capture the international market. And you said that you rank pretty high in Fazwan Vietnam.
So I suppose when I go to Fazwan VM Vietnam, it’s basically not showing me properties in Vietnam, it’s properties in Thailand. It’s just that you capture the that’s that’s that’s actually properties in Vietnam. So let me try and show you some of the rankings.
For example, if I just pull up our rank tracker so you can kind of see what I’m being. So if I looked at Vietnam here, you can actually let me just sort by rank 1 second. Let’s go backwards.
So you can actually see that this is actually Vietnam search terms. For example, Vietnam real estate, like will rank number one for so we’re actually capturing not just Vietnamese traffic in Thailand, we’re actually targeting all countries. So we’ve kind of got like a global so the actual technology that we built is impresent in 30 countries and targets localized countries.
So the actual countries we’re present in is, I think, 30 different countries. So all of Southeast Asia and all the Middle East and a lot of South America, and we’re gaining a lot of traction. So you can see like, if you went to a similar thing with Indonesia, for example, we’d probably be number one for Jakarta Real estate, amongst other you see Jakarta Real estate there we’re number one.
And this is searching in Indonesia on this is basically tracking our rankings across. So we have a lot of different platforms that ranks. If I clicked on, for example, Jakarta Real Estate here, this is actually showing real estate in Jakarta using our platform.
So you can actually go this is on Tie above. You can switch it to say, a dollar value. I don’t know what currency they use.
And you can navigate around and do all the functionality that you would do on Fazwas, for example. And the reason why we did this is that we generally believe that our transaction platform has a lot more scale than Thailand’s. Thailand was our test bed to get it right.
But the actual technology we’ve built, which has cost us a fortune, is very scalable. So we actually placed it in multiple regions of soft launch, a very small cost. So, for example, if we wanted to scowl into I’ll just choose a random country, say for example, we saw an opportunity in I don’t these in Brazil and we thought that we could start transacting Brazil.
Fazbaz Brazil is there and it ranks and we can just literally look at adding our transactions stacked to this model. So we have footprint globally now, right. So same as what you have shown just now on China.
Correct. When we were building this transaction tech along the way, obviously we’re not fully there to the end of where we want to be yet, but we looked@booking.com and we were eventually thinking we wanted to be the booking.com
of real estate. That was the plan. So Thailand was where we launched.
But we would eventually go and start transacting other regions. Now we’ve proven it that we can start transacting Dubai. Essentially we’ve got no one on the ground then we’re transacting now every week in the UAE and we think there’s no difference to any other market as long as we use our processes, which we’ve got very good.
Now our stack, which allows us to rank and drive traffic for free, this is organically. If I just pulled up maybe Href, which is tracking all our rankings, I’ll just show you some of the platforms. You can see some of the movements.
Let’s just say I brought up the Thai platform, which is here. This is Thailand Thai. So if I went to organic search, you can see that the actual growth is now like a straight line.
And we’ll see this for all different countries. We’re doing it. So we really looked at the big aggregators like the Matulas, like the Trovits, and we backwards engineered them.
And this was during the process of when initially they were looking to acquire us. We thought that the technology, the way they’ve actually structured all the platforms to rank was very good. So we believe we’re probably one of the best in the market actually doing this in terms of driving organic traffic through the platform.
Although we’re early stages on our growth is know double digits monthly now in terms of all regions. And we can share that to you in kind of a FazWaz group pack, which not just shows Thailand, but shows our growth across other regions. So we actually generate more leads and more traffic outside of Thailand than we do in Thailand, which is what we don’t really talk about because we only transact mainly in Thailand.
That’s because budgetary constraints, et cetera, et cetera. Does that help answer your question? Yeah, one more question. So if I browse, say, Fazwa China, for example, so all I see right now are listings on can I say can I can say that whatever that I see on Bazwa China, the listings are the same as Thailand.
Correct. So it doesn’t have just Thailand. I think there’s others as well, but for Thailand at least, it’s the same.
So if I’m a Chinese from China, I’d like to buy a property from Thailand. I can go to Paswazuas Yen and not Paswazuas Co thai.com, for example.
Correct? Yeah. And it’s basically it’s one technology stack which distributes the inventory. So if you update on one, it’s centralized across the so it’s a very well built stack.
So if you add property in Dubai or change, it updates across every single site we have and gives them a proper localized experience. So Fazworth CN runs every that we have across say, but it does it in a localized manner to them. For example, we serve WeChat, for example, and QR code as opposed to email inquiry.
So I think if you went to I’m just going to have a look now. So if you went onto one of these properties, which it depends actually where you are, what we serve, I don’t really know. I think we have to speak to the tech team about that one, how it works in terms of serving localized inquiry manners.
But as far as I know, if you log on on mobile, you will see the QR, which is for the WeChat. They’re all very localized platforms, but your current customer team are all English speaking for now. Say that one more time.
Sorry. The current customer team is Bazwas customer support team, or the sales teams are all English. No.
So across our customer support team. So our nurturing team, which pick up our lead flow, speak 16 different languages, and that’s mainly for Thailand. We have a lot of Chinese buyers in Thailand.
French, german. Spanish, Italian. So we cater for the full market, but usually the commonalities, they all speak English as a primary language or a secondary language.
So for example, when we’re looking at the UAE, we can deal with from Thailand, essentially from our bank office, we can deal with Arabic speaking German speakers, french speakers and English speakers alike. So that’s the customer service team and the agent team is similar. We have like a fully diverse multilingual agent team that deals with because in Thailand 30% of all the transactions are through Chinese buyers.
Currently cool. Awesome. So next I want to show you is the search and how search works differently.
To say, a traditional when I say traditional portal, I mean you’ve seen all this stuff in the US. But I think say we’re comparing ourselves to say, an FDB portfolio like Dome. The way they would use it is fully on listings, scrolling down a page.
I think that the reason why people don’t use map search is one, it’s expensive and two, it affects the rankings. So a lot of companies are adverse to moving over to showing the map because it affects the rankings of the site because it has to be all SEO friendly. So for us, we spent a lot of time working this out.
So we only serve map based search for everything. And then when we say map based search, we can remove the boundaries. So say for example, I’m only looking at I’m going to start drawing here.
So if you can see this. So I’m going to say I’m looking at this region here, this region here, this region here. Sorry, 1 second.
Pop that up and I click apply. I can then narrow down my search to just these regions. So for our real estate search experience is based on map based search on locations.
Now we’ve actually mapped out every single boundary of every location, not just in Thailand, but everywhere. And this is the same in UAE. So if I looked at, say, example, I changed my search and went to where I live in Phuket.
Which place Kamala? You can see here, you’ve got the let me just reset the search. I’ve got the other filters in. You can see here that you’ve got the actual boundaries of every know.
And these are the administrative boundaries that the government provide us. So we’ve taken them all and put them into the site. So we’re working out.
So there’s other things we do as well. So I’m going to have to switch to mobile to actually show you. I’m going to need a Chrome to show you how that would work.
But I could show you on desktop as well. So we also use geolocation. So there is things like condo houses for sale near me down here.
If I click on this that wasn’t a very good experiment. 1 second. Just see why it didn’t work.
Okay, so click property for sale. For me, it’s asking for my location. I will allow and then it will literally just draw a border around where I am now.
Now this works very well mobile, which I can show you in a Chrome browser and inspect. So we use geolocations and we’re tracking everything. So say for example, you’re in Bangkok and you’re a property and you want to see what’s around you.
Our platform is one of the only ones that can service it. The same way you would look@booking.com and type in hotels near me.
Very similar. Okay, that’s another core function that the site has just going through it. We also have ratings and reviews.
You can see all these five so sorry, as well. It shows you how far away the property is. You can see 0.3.
You’ve got it all on a map as well. So you can actually see the distance to each property. Now when you’re looking for residential transactions, this is perfect because you might go and see a unit.
You might like that unit in that specific area. You want to see what other units are very close. The platform will just bring it up for you.
So we have all these star ratings now. We actually rated the majority of each project. This is done through our consumer base and our internal review teams.
If I scroll down, you’ll see lots of different project reviews here for each review for each project. Sorry. And I’ll show you how that works.
And what that does is it creates ratings so they can actually rate the different projects by different type of facilities they’re looking for, where they’re looking for value for money or maintenance or quality overview. And I’ll show you roughly how that works if I just skip to this. So I’m going to go to room 21 Fazwas.
So this is a project that I have in Bangkok, where I live in Bangkok, one of my condos that I own. And if you scroll down here, you’ll see a load of reviews here by our users and they’re full of reviews. You’ll probably see my name appear somewhere down here, which is me, and I’ve left a review for it.
And what that does is it asks you to review based on we will ask you to log in. So I’m not going to do it, but ask you to fill in criteria. So we’ve actually created a full database of every development in the whole country.
There’s reviews for the people. We’re the only ones for residential living. So there’s obviously booking.com
and ago that have the hotels, but we’re the only ones. So if you now go to maybe to Google to the room 21, I would imagine that you can see here that actually reviews from the web. Google’s picked us up as an official review source.
So they actually validate our opinion on how we work. That’s also very useful. So moving on, let me just go back to the search.
There’s a very interesting I mean, there’s all different things you can do. We have a deal with Matterport, so it’s kind of an exclusive deal where they’ve given us a crazy value for actually doing all the Matterports. In Thailand, we’ve got an unlimited package.
So we’ve actually mapped out thousands of properties using 3D tours and we can actually just sort by them as well. So, for example, I’ve just turned on any project that has a 3D tour. So say, for example, I’m going to pop into cool waters.
I can literally walk through the whole project. Now this really exists on let me just go to a bird’s eye view or floor plan. This really exists on 1 second.
Let me just have a look at something interesting like a bedroom. This exists on every other platform. The functionality in terms of having 3D tours, the only difference is that we have every single project in Thailand maps out communal areas and the actual everything.
So we’ve got a team that went around and did thousands of projects and units. So say for example, you want to look at the gym, you can actually just walk around the gym because it actually makes a difference between for the consumer making their choice in the end. So this is still going.
You can actually turn on and off all different filters on the site whether you want and there’s all different cognitive signals that we have across the site and I can show you that a bit later. So I’m just making sure I don’t go off. One big thing that’s happening on the search, which is we’re rolling out AVM.
So we’re the first ones, not just in Thailand, but most is. So we got it in most emerging markets we can now estimate any price within 4.3% that came out today.
There was an update today of the value, any property within the whole country now and bar a few urbanized regions, but say for example in Bangkok. So now, because our valuation is going to be shown on the site, we’re now allowing people to sort by value. So say, for example, AVM says the price is $100,000 and their price is $150,000.
Our consumers will now be able to search by value because the majority value being that we believe this is massively underpriced and it will give them 1000 reasons. And I’ll talk about that site later about how the ABM works. That’s another function that exists on the search.
And the other part is because we collect so much data as a team, because we’re not an aggregator, we’re not a portal. This is all our listings. All listings come directly from owners or through us.
We have a huge amount of Filtration you can do so for example, we could just say we want to look at properties near the beach and that will just bring up all the properties that have beachside. Or we can look at, I don’t know, properties that you can only have a guaranteed rental yield and then you can keep narrowing down that allow dogs. All right, obviously there’s none that have a guarantee rental yield that allow dogs.
But we’ve got a huge amount of Filtration, land plot, area, land title deed year built, all different features that we can sort by. So if I just reset the search to show you what I mean, so we can say I’m only looking for properties of private pool. So there’s quite a lot of them actually.
And we want 24 hours security. There’s still a lot of them that has a C view. Yeah, sorry, out of curiosity, sorry to interrupt you, but out of curiosity, all this such as C View, city View, all this tagging, is it being done manually or is it being done through yeah, because the reality is that we work with the owners directly to actually upload it.
So they upload pictures. And we’ve got something called the Vision API which is a Google image recognition which works when I upload the pictures to understand commonalities like if there is CV because this always gets people just put if you can see the sea out of your window in your bathroom if you look we’re head around the corner, people put it down as C view. So we rely on both user data development data because say the units are in development a project then we know the answers already.
So we have that for each project. But if it’s like a landed property solo, we have to rely on their pictures and also altogether API to kind of validate it. But depending on where you are, the actual functionalities change say for example here it says nearby beach.
If I switch this to Bangkok, for example, 1 second bang Bangkok select if I switch to Bangkok and reset the search, got my filters on there and I go features more. Sorry here now nearby there’s no beach. It knows this and now it says well, what’s important? Well, this is the train station.
So if I click BTS, it then is building here a line of all the BTS stations. Actually I want also I don’t know boat transportation as well. So add in these regions here, which are boat transportation.
So the system is pretty clever and how it does it and it even works for say, points of index. Say for example, I want to be near, I don’t know, Pukett Airport. I wonder if this works.
Pukett International Airport. It will draw a radius around the airport and say this is roughly where it wants. So it doesn’t just work with regions.
You can put you want to be near a 711 and be specific and it will allow you to do this and actually filter around it. So we’re one of the only platforms that can do pretty much any of that, to be honest. The other part is that I want to draw attention to on the search.
Let me just reset the search again is that we’ve got a ranking algo because we don’t use paid listings, zero paid listings because we’re not a portal. Let me just get out at the airport, sorry, let me go back to developers don’t pay us to feature listings. Users don’t pay us to feature listings.
Our only interest is in serving what properties consumers want. We have a very complex ranking algorithm which is definitely quarterly IP of Fazwas, which looks at user behavior, all different things. And it’s called a REXIS.
It’s actually used in the US. We developed that with the data scientist and it works out what properties you like and what you’d be searching for based on your user behavior in similar users and suggests different people, different properties. So the ranking alcohol is totally dynamic and it’s dynamic not against just English, against Thailand.
It works differently based on different user bases because Thai interact with Fazwas different. So they do with say the English because the price point is probably lower. Not on average.
On average, yes, but not totally. There’s very wealthy tires as well. So we’ve got a lot of that happening.
And when you go back to Fazwas, it’s always looking at what you viewed and then suggesting properties here that you might of and the tech team can explain to you how that works because I don’t really know, but I know that functionally wise we spoke about serving a better experience and this is what happens. So I think that gives you a good overview of why the search on Fazwas is different to us. Now when we talk about how do we get people to search, these aren’t what’s it word called like bridge pages.
So what I mean by that, if you go to Puket property and you Google it, for example, where I live, we’re number one here. But if you click on it, this is the search pages. You don’t go anywhere else.
It’s not like you have to click. So we’ve built this into our they’re fully they’re very, very fast and we’re the only ones not just in Thailand but probably in the region running this kind of tech stack. Okay, so I think that gives you a good overview of the search functionality.
Do you have any questions regards to that or pretty okay. Pretty okay. That’s good.
One thing, the 360 degree, the virtual tool only applies to new property and not secondary yet. So what we did with new homes is we sent our team, I think we had a team of 20 relatively cheap team that went out and mapped every communal area and every single development there was. When we say communal, we’re talking about the lobbies, the gyms, everything.
This is all out, no one else has it. So we’ve got the most complete property and project database with like 100 fold. Then I’ll talk to you later about that on the actual project pages about how we’ve done that.
I think they might actually be here. Cool. So that’s search, that’s how our user interface and we can sort and also there’s other things, these words like what it has, it gives them good indication, some cognitive signals where it crosses out the price and basic stuff and we rewrate them and a lot of people utilize that.
I think one thing I actually wanted to show you was which is why we’re winning quite well in terms of clients. I’m going to switch to Chrome. Here.
Just tell me if you can see this. Can’t seem to okay, I’ve got a change of sharing here. Sorry, I’m a bit of a noob when it comes to MacBooks and 1 second, maybe like that.
Okay, cool. Maybe that will work. Okay.
Can you see that? So one of the best parts of our platform is the mobile. We built this so many times, it became mobile first. So let me just try and put this into a mobile.
So I’m going to put an iPhone X and I’ll show you roughly how this works. So I’m looking at Bangkok on the search. The actual map is built into mobile as well.
So when you’re on mobile, you can actually draw exactly the same as desktop. I’ll just show you how that works. I can actually draw here and then apply.
So this is how it’s looking on a mobile. So it’s actually all the functionality works on mobile. And we get a huge amount of things, especially like as I showed you, with the near me functions and everything else, it’s not just like, oh, we’ve done this on one side, not the other.
So there’s not many platforms anywhere that can do this on both mobile and desktop to the same degree, unless it’s basic in app based format. So that’s just something I wanted to draw your attention to. Cool.
All right, let’s let’s just roll on to the unit and project pages. So if I go to let’s have a look at Bangkok. 1 second, Bangkok.
I’m going to just turn on this 3D tour and find a nice one. Okay. I’ve got no idea.
I’m just clicking on anything. I don’t really know the project. So we capture a huge amount of information on each project.
So we’ve got besides having the full lineup of pictures and everything else, that all websites will have. As we mentioned, we’ve got all the walkthroughs of the feature amenities. So we’ve got common area walk through.
We’ve got pictures and 3D tours. Reception lobby. So I can actually walk through the reception lobby.
So here we go. Of any project. They’ve done everything and it took us a long time.
We actually did this over COVID. So when everyone was kind of sleeping over COVID and said, we’re going to wind down the business, we decided to go on a massive, huge data drive to get ourselves ready for a post COVID snow. That’s why we actually really believe in our numbers in terms of we’re happy to sit by them saying, listen, that’s the kind of structure we want because we’ve done so much work.
We’ve done it even through the gyms, everything. So we are kind of a silly question. These new projects are projects that is ready.
What about projects that are not completed yet? Oh, no, this isn’t completed. This is every project not just completed. Projects off plan and completed.
This is every single project in Thailand. That’s what we’re doing. So even for incomplete projects, you would just use the showroom and kind of do okay.
Correct. And you can put on know in our office, and you’ve seen all the functionality, it’s not new, but in Thailand, none of it exists. Right.
We’re the only ones that do anything. Basically, we’ve mapped this out. So I just walked you through.
So we’ve got floor plans, which we do with matterport. We’ve got master plans, which we work with the developments to get for every single development, every single unit, and then the street view and wherever you want. So it’s basically the issue with agents is and this is in general, is that they try to hide data, so they utilize the agent.
We don’t give you the location. We’re like it’s here. This is where Zach map go there yourself if you want to.
Right? Because we do all this type of stuff. We map out all the different I don’t know what this is all different locations, too. We’ve got a full list of everything in our system, like all the hospitals, you can say how far bangle hospital I want to walk, and it will just show you.
Right. We’ve been very transparent. My motto, especially mine, so I work with two real estate guys, was to have very poor and Brennan are real estate guys, in case you didn’t know, is to have a very transparent marketplace so people can actually find what they’re looking for.
And this is the showpiece of really what it is. So then we have a full description, which is actually written by us. We’ve got a content team that writes every description of every project and reviews every project themselves.
There’ll be reviews down here. We’re the only ones doing this. And the reason why we do it is not just for the love of the game and to help our consumers.
For Google, we rank number one for most projects in yeah, like Property Guru does for Singapore, for example. And I can actually show you that, for example, let me just pull up a rank tracker and I’ll show you a list of, say, projects. We track 1 second.
It should be a thing called test. We go so it just shows you there’s 132 projects. You rank was number one above all the developers and everything else.
This is a list of them. It just goes on. So you can type in any of these into Google.
And we’ll just rank number one for all of them. And this is in Pukette and Bangkok and all different regions. So say, for example, I don’t you know, Fazfaz will be number yeah, above their Facebook, above their own page.
And so, because we’ve got so much unique content, this is what portals talk about. When we say unique for us, it’s not like aggregating content from the developers. That’s not unique.
It’s actually creating our own content for each different page. So Google sees us now as a valuable source, not just for reviews, but for everything. For example, I’ll just carry on going with this one.
We have FAQs, is this pet policy? What’s the sinking fund? This is working all out itself. This is rule based, driven from our system. And how can you own the properties? So giving a lot of FAQs, if I typed in, I don’t know, for example here, I’m just going to guess Camelar Hills, which is development.
Sometimes you see all the FAQs pop up depending on what but we’re still number one for everything. It works really well, not just for us, but for Google as well. So I’m just going to reload the page because I expanded way too much there.
I’m going to keep going through this. So we talked about Matterports all the units, so we’ve got a lot of data. So we mapped out every development.
We know what each development has, central system, this is all automated. So inherently if a unit joins the development, you list your unit. Will we know what facilities the development has? What are different unit types from the development? So you’re basically applying, just saying this is my unit type.
We have all the information around the unit types. You just got to basically say what interior you have. So you can see here you’ve got views.
All the camp fees are worked out, all the common area facilities are worked have. So we also track salt data. So we’re the only ones in Thailand that has any sales data.
And the way we do that is a mixture of so sales data is not available in the public domain. Thailand and emerging markets alike do not give out this. It’s a backwards economy.
So we’re tracking sales data. The way we do this is that we’ve got very good relationships in relation to the sellers on the platform. This is not manual, so when they want to delist, they give us a reason why and they usually say they sold the property and they’re happily giving us transaction prices along that with our own sold data for our agent sale.
We’re the only ones with any form of transaction data in Thailand and that feeds into the ABM, which we’ll talk about slightly later. So lots of different sold data here and we find that agents regionally in Thailand all use fazwa to find out what’s know. This is the only place you can go to and then if you go into so we’ve got AVM values here.
So this unit here, for example, is 4.5 billion. That’s their listing price.
Our AVM believes that it’s 4.46. So it’s slightly overvalued and given the range, this exists on all sites and we’re actually giving more information. So at the moment we’re in betas.
We just launched with the values a mid range and a low range and upper range. We also have a competency score, which is basically a standard deviation of how confident we are in a price and then we’re going to give them 1000 reasons why this price is that price. So it’s not going to be like my mate Joe says, this property is worth $100,000.
It’s going to be these are the 10,000 reasons why your property is worth this price. You can read it all here and they’re full PDF reports, downloadable, and it’s all for free. There’s nowhere else anyone can go.
There’s no price point they can beat us on. We’ve done this and now we’re giving away to the market for free. And I’ll talk about how we’re integrating that with the banks afterwards, et cetera, et cetera, et cetera.
So I think that gives you a good overview of the project pages. Now, so we’re looking at a project here, which is an S 22 I just want to wear on the project. So inside you have all the units.
You can actually go and see all the units inside and make comparables and they will inherit the parent kind of information of the development. So that’s kind of what it has. Okay, so the big difference between us and say, a portal, is that we don’t care about leads.
We don’t care. But leads does not mean deals. It’s just rhetoric that’s been spun around 100 times.
But if Sean disagrees or agrees, I think for relation to transactions, I can send you a million names and numbers, try and convert them to a transaction. We only care on two, really, metrics that we track here. So in Thailand, if you’re looking in Thailand specifically, so it’s looking at your GoIP, it shows you this page.
If you’re outside Thailand, it will show you this, which is, yeah, this is just basically send your details or connect with us, blah, blah, blah. But here it’s about schedule viewings or making offers. Now these are all fully automated workflows and they’re so complex that I have to actually show you a video on how it works as one of the dev teams have to show you both from a seller and a buyer making an offer on a property and how they negotiate through the platform.
Now we’re doing transactions on the platform where they’re agreeing price negotiations nonstop, totally without us. So we don’t really want them to send us a lead saying this stuff here is basically I’m interested in the condo. Well, what really are you interested in? It’s just like register your interest, right? The reality is, do you want to view it or do you want to buy it? And if you want to buy it, you can offer a discount.
Now, I don’t know if this is going to work, but I’ve got a video of how this works. So it’s a ten minute video. Do you want to watch it quickly? It’ll give you a good overview of both sides happening.
Is that okay? Yes, that’s fine. Go ahead. Sure.
Let me just try and find it. So I think someone was I asked them it’s because everyone’s out of the office. Because this COVID belabi.
Here we go. So let me see. So to make an offer, the user has to go.
So can you hear this or no? Or is it sending the sound to the unit details page? I can hear perfect. You can hear yeah, I just unlisted. I was thinking that probably I could just go to YouTube and watch.
I can send it to you. The only reason why we probably would not want to say it is like right, this is like we know a huge team and it’s all the flows on both sides. But user can click on the make an offer button to start the offer and then the user has the option to select between two options.
They can start their offer or they can just request details or schedule a viewing. They can also see how it works. And we have a video that explains the process.
At first we ask them if they already viewed the property and if they select no, they have the option to see the property or to see walkthrough video of the property. So that’s our matterport. And then the next step, we just explain them how this whole make an offer process work and what the next steps would be.
At first they have to provide their contact details and they have to verify their phone number because we want to make sure the phone number is actually their phone number. So they have to receive a validation code, enter it here, and then only then they can continue with the offer process. Yeah, the next step would be selecting the offer amount.
I mean, they have the option to select up to 25% below the current listing price so they can type in how much they want to offer and they can select all the other conditions of the offer. So if they want to build the furniture or just some part of the furniture, they can decide how they want to split the transfer fees, pay cash or finance are they pre approved for their financing. And then they can also select how much deposit they want to pay.
So they have the option to pay up to 10% of the offer amount as their deposit. And we just always have like small info text next to the fields that explains what it means. And then we suggest them dates for the transaction.
So I think they also have the option to select dates by themselves when they want to sign the reservation date, when they want to view the property, final walkthrough. So they have the option to use our default selected dates or to select it by themselves. The next step is optional, so they have the option to submit their ID or a copy of their ID, but they don’t have to.
There’s also a feature. So if they click this button, you send an SMS to their phone with a link and then if they click the link they have the ability to upload or take a picture from their phone and upload it straight away from the phone to the offer and that’s the last step for the buyer. So it just gives them an overview of the whole offer, how much they offered, what conditions they selected, the time, they can add some notes, this notes are just going to the home advisor just internally to fastbus.
If they decide to cancel they have to submit a reason why they want to cancel the offer. In this case we just submit it. So now the offer is submitted.
At this point we are sending an SMS to the seller and to the buyer just to confirm that the offer was received and that’s how the buyer is seeing it now on their deal room. So once they submit an offer, they have access to the deal room here they can see that’s the offer. So with this bit, this is showing all the active deals.
So when you’re a consumer you can actually make offers on multiple properties, you can see all the offers running, they can actually see what you can submit offers on multiple properties. So just highlight that thing and I can show this dashboard afterwards. This is our user dashboard which is like all our users use and those are previous offers.
At this point the buyer has to wait for the seller to verify their ownership. So just explain that because we want the offers have to be real, otherwise they don’t mean anything. So for the seller to actually view the offer, they have to validate they own the property.
Now, the only way they can do that is we ask them to upload the titles, the deeds of the properties. So we’re actually collecting everything on the platform, the full title deeds of every single property that’s coming through. So we don’t just get the property with all the title deed, all the ownership, everything all stored centrally on our system.
That was a buyer submitting an offer. You’ll now see the seller pick up the offer and how they see it and then you’ll see the negotiation happen. Okay? Okay, now I’m logged in as the seller, so the seller was notified by email and by SMS about the offer.
So I think that’s the offer that the seller received, that’s the email that the buyer received. Sorry to interrupt Michael, just quick one before I just get one. So here the seller, is it the developers or fazwa’s agent? No.
So the sellers is the homeowners. So we don’t just transact in new homes, we transact in secondary homes. The seller is the other side.
This is without the agent, there’s no fazba’s agent involved. Right? So this is primary or secondary? Again? Both, yeah. So this is a scenario where fazwa’s agent is not involved.
Correct. So the agent is the platform. This is basically like an airbnb workflow where Fazwa’s is taking commission with no physical agent and this is happening on a daily basis.
Now in relation to negotiations at the moment we feel like you’ll see the whole way through and there is a need at some point for maybe a viewing property if they haven’t seen it. But what we ask is that say for example, we take you on a property viewing tour, we say wait, don’t send the offer to the agent, just do it through the platform. It doesn’t get it wrong, right? It calculates the fees on both sides.
Everything’s always correct and you’ll see it works out what property price is, how much transfer fees there would be based on the property type and the region, what VAT you have to pay. It works out absolutely everything. So the seller will know the net net they’re going to get in their pocket instantly.
The buyer knows the actual net price that he’s going to pay inclusive of all fees and negotiations done because the issue is in negotiations. I’m not a great negotiator in general, I don’t want to say that because I might do a deal with you guys, but I don’t want to lose space. So I rented a property, they’re just like, oh it’s $2,000 a month.
I’m like, all right, whatever. Right? But if reality is I would put a $0.01 bid on ebay, no problem, no problem, right? I would bid $0.01
just to be cheeky. So what we’re realizing is that negotiation side is difficult for people and there’s no guidelines. So this allows them to negotiate without losing face between each party, which is very good for the Southeast Asian market, specifically the domestic markets and also the international markets.
So the revenue that is associated to this segment of business is classified under online transactions in the PNL. I’d have to find out. I mean I know Paul looks through is doing with due diligence but I think at the moment we inclusive it all in.
So because still the workflow needs someone to actually transfer, we’re still saying agents workflow but the reality is we’re moving closer and closer to cutting out the agents here from the transactions. I’ll carry on and then we’ll talk midway through this video. So you’ll see now you’re going to see it from a seller’s perspective, how they’re going to see it come through a seller being developer or a homeowner for the seller.
If the seller receives an offer, we don’t show them the amount that they being offered. So we want them to actually log into the site and verify their listings to provide all the details. Yeah, so it says that you’ve been offered two XXX so they have to now validate their details to see the offer.
That’s how we catch them in. So there’s an offer, they know it’s 2 million bar, they got no idea what it is or who it’s from. So now we get the sellers to engage through the platform by saying good news, received an offer, blah blah, blah, this is nice.
And only then we show them the offer amount. So we notify the seller that they received an offer. Yeah.
So they can still not see the offer amount. They still have to verify it first to see the full amount. So just tell them how to verify the unit.
Is this still for sale? Yes, go for sale. Yeah, same thing as for the buyer. They have to verify their contact details and they also have to verify their phone number.
Yeah, now we just ask them if it’s currently occupied, if it’s empty, or if it has a long term tenant, it asks them details about their ownership because the answers that they provide here affect our calculation. So I think in the next step we show both parties the net price that the buyer would have to pay or the net amount that the seller would receive. And it depends on how the property is being owned.
So if the seller owns it via the company, how long did the owner own this company? The property already? Yeah, so with that sorry, it’s using tired tax laws. So for example, if you own it through a company, which is common, you have to pay withholding tax, which is a business transfer tax. And depending on how the properties is different, property taxes, our system is calculating this based on the ownership information and they have to provide ownership documents.
They cannot continue when all those fields are required. So the reason why we have this is that there’s so much inventory where it’s not what it seems. So for the offer flow to be real, they need to validate they own it with the correct titles, which if they’re genuinely interested in selling the property, they should have.
But you wouldn’t believe how many people don’t have it and it’s shocking and oh, sorry, the seller also has to provide identification documents. So for the buyer it’s optional. But for the seller to see the offer, the seller has to upload a copy of their ID.
So again, this is a one time process. So if you’re already a seller, like a multiple seller, you’ve got lots of properties, one time process and once you’ve done, we’ve validated you, you’re the right person. So this is the overview page for the seller and they can just see all the details they entered to verify their listing.
They can also reject this offer at this stage, but they would have to provide a reason why they want to reject it at this point. Okay, so now the unit is verified at this point. We’re also sending an email to the Fastball support team and then a home advisor from Fastwood is actually looking at the details if the name on their ID is matching their name in the account, if their name is on the ownership documents that they provided.
So I think the home advisor is checking those details manually at this point. We also show the offer amount so that’s the first time that the seller can see how much he’s being offered. And at this point, the seller has seven days to counter the offer or accept it.
That’s the deal room. So I think here we show this is the deal room for the seller and we should show the now we calculate how much would the seller receive after transfer fees. This is being calculated based on what yeah, so for this part here, there’s no commission to the buyer.
So the buyer never sees anything. The buyer just submitting his offer. So the seller would see here, it’s got a service fee here, which is what our fee is online.
And this is actually the net they’re going to receive in their pocket. Everything done. So to the dollar, which is no one else can work out.
You wouldn’t believe what happens in now is it goes through and agents sit there and mess around and get it all wrong. This is just 100% and you won’t believe that this is such an easy process that no agent can fulfill at all. At the moment, in Thailand entered so the buyer entered that the buyer will pay the transfer fee.
So there’s no transfer fee for the seller, no stamp duty based on how long they own the property already. And that’s all being calculated based on the details that the seller provided when they verified anything, just a summary of the whole offer. Now the seller has three options.
They can reject the offer, they can counter the offer, or they can accept the offer. Let’s assume the seller wants to counter the offer. So what they can do here is the seller and the buyer can negotiate in their own currencies and it’s automatically converting, converting it to the other side.
So, for example, okay, let’s say the buyer wants ¥9 million. So at this point, we’re notifying the buyer via SMS. After the unit was verified, the buyer also has access to the room.
Now the buyer has the same option. He can cancel the offer, counter it, or accept the counter offer from seller. And we display how much the buyer could save or saved already.
Based on the initial, the actual list price is 2.9 million. And yeah, the sell already went down to 2.5
million. We just want to show that was the initial list price. Now the sell already went down by this amount.
So and then we want them to meet somewhere in the middle. So if there was more negotiations, they can only negotiate now in the blue theme. It keeps closing the gap, getting them together.
We can assume now the buyer is putting a higher offer during this negotiation process. Just say, what if there’s another buyer they want to bid for the thing. So is there like an exclusivity period.
So, no, at the moment, no exclusivity. At the moment, it’s only used ten to 20%, maybe 10% of all the inquiries. Now, that’s just quite a lot.
I’d have to find out a number of how many make them offers are there. But at some point, if we become like the market leader in Thailand, we’ve got a load of flow. Yes, there’ll be lockout periods and everything else while this is going on, but the reality is that until an offer is accepted, really, we want multiple offers being bid up.
And it also shows you on the property pages, if there’ve been offers already made and the seller has been rejected, it shows you the consumers, that actually there’s been about four offers on this property already. These are the price points and this is what’s been rejected. That way they know that they can’t get away with a lower offer than what’s already been rejected on the system.
So say, for example, you’ve got $100,000 property, you rejected already, a $90,000 offer. It will show on the front end if someone submits an offer to anyone looking at that property and it’s been rejected by the seller. Say no to not submit an offer less than 90,000 because it’s already been rejected, not to the buyer, but to any other potential buyers.
So at the moment, what we’d want is we want to create a bidding system to make liquidity on the buyer side because there’s none to create, like a real marketplace. Sorry to interrupt again, to make things clear during the viewing. So when I choose to schedule a viewing, who’s going to facilitate the viewing? Is it a southwest agent? Yes, sorry, this is the make an offer workflow.
This one we’re looking at, if it’s a scheduled viewing workflow, what happens is there’s another workflow and they can put themselves in and select what properties they’re going to view and it will build them out. The itinerary and the tour, what time the agent is going to pick up, look at the geolocation of the properties to make sure that this is the route that they can complete within an hour. And it suggests them properties similar that they can view.
Because really, we only want the buyer to take a few options. Make an offer you like, it enough to actually put down a physical offer, not buy it now, because no one’s buying at the market price, always putting offers. Or the other one is I want to view.
We don’t want someone just saying, hey, I want more details, because everything we have is on the platform. There’s nothing more we can give them. That just means they’re uncertain, but they can still submit a general question to us, we’re trying to catch up with you soon, so we’ll try and get them down one to two workflows, because the conversion on these workflows are much higher than say, I think the question was.
That during the viewing. During the viewing, is Fadwa’s agent going to be there? Because the biggest problem when it comes to transaction is the leakage. So the moment that buyer, potential buyer, sees the seller, there’s a potential that they may negotiate not on the platform, but outside 100%.
So we work with Baker McKinsey in Thailand now. So Baker McKinsey is one of the big four, I’m sure you know them. So they’ve drawn up contracts for us, which means that if the buyer and seller go through any of these workflows, there’s a legally binding contract that the seller has to abide by.
Now, we’re not saying we’re going to pursue them in a court of law, but there is enough reason now for them not to go and actually create leakage. So we’ve actually worked. So if we actually give them the client, this is legally our client, basically, we spent a lot of money with them to get this all drawn up and that goes into letters of consent.
They’ve showed us how to make this where this is actually enforceable in a tie corridor. So we’re about to roll this out because, of course, leakage is always a problem. And that’s both with developers and obviously secondary market new homes and secondary because we provide so much value to the seller here in relation to, say, a normal other website.
Just show to the listing that if they use our platform, go through our processes, we want to get paid. What we’re finding is that we’re about working with a company called Rabbit to offer a transactional insurance in case there’s a problem that happens. So to give them safe peace of mind to utilize the platform and do a transaction for both sides.
So you know, like Airbnb, you know that if you book through Airbnb, if there’s a problem, you’ve got a centralized place to go to so you might be able to find it directly, which is leakage. But more people than not and are happy to utilize the platform for both, say, Goda or Airbnb and book through the platform and pay the marginalized fee as opposed to going directly. As a peace of mind.
So that’s something we’re working on at the moment. So we’re definitely not the full way through this. Just got rolled out, God knows, maybe five, four or five months ago, and it’s been moved in phases.
So we haven’t fully completed all the workflows and it’s because we want to get feedback from the market first before we start going heavily into doing it. But definitely these are all my questions that are coming up from our team. And we’ve got a workshop in place to identify, we think, in terms of the leakage.
Specifically, we have these legal workflows working out and they said they’re enforceable. We can send you all the details. Got it.
Sorry to interrupt. You may continue. About a minute away.
Yeah. So now, just so I can see the latest offer can see the counter offer from the buyer in their own currency. That just so shows them they are getting closer.
Maybe now the seller would accept this offer. They have to confirm one more time. It tells them that the actual purchase price is based in the currency of the seller.
That’s stage one. So we’ve actually agreed the offer and then it will basically the next part is that we’ve also been working with Base McKinsey. They’re our lawyer of choice because they’re relatively good here and it’s a good stamp to say this will work.
So it will draw up the reservation agreements automatically. So no need for lawyers at all. So we’re cutting out lawyers because here they’re the biggest waste of money possible, especially in emerging markets where they’re probably 99% are absolutely terrible.
And all the contracts were standardized for all different homeownership types, et cetera, et cetera. So it’s drawing it up. It’s allowing you to sign online and then pay the deposit through our platform.
And that’s the rest of the workflow. Now, currently we have all that disabled. So at the moment we’re just focusing on hitting a KPI in number of offers being made before we release further functionality because we don’t want to shove this audience in one go.
So we need to kind of ease it in. It’s not like just turn the whole workflow on, but we’re doing transactions. The south team, you can probably speak to them about it in a separate conversation about people come.
I think I might have lost okay, I think I lost you a few seconds. So you were saying that so if you speak to sales team separately, in part of the process that you’re running, you’ll find that a number of offers now coming through this workflow and the seller is just basically calling the agents, calling up both parties and just getting the contracts done. I mean, it’s pretty easy.
And that’s becoming the job of an agent. So even if you went to do a viewing with a client, now we’re encouraging our agents to say if you want to submit an offer and you’re interested, do it online because the process is much more fluid and explains everything, whereas mumbling agents saying 20 different things. This is the biggest problem that we have within our business and the global marketplace of this happening.
So that is the kind of make and offer workflow which leads to transactions and the completed. The only thing we can’t do is transfer ownership or open doors. We have to open doors if needed.
Yeah. At the point of reservation, does buyer pay a deposit or reservation fee? Correct. It’s a non refundable deposit.
Well, it’s refundable based on certain contingencies happening, which was defined again with Baker McKenzie, which Brennan can tell you about how that all works in relation to what voids an agreement. I think it’s something to do with due diligence, obviously, but it’s a non refundable deposit and it goes into escrow and it’s connected with all the banking systems in Thailand so they can make the payments. So that’s kind of the make and offer.
Now, I won’t bore you with the schedule of viewing, but the schedule of viewing is equally as impressive the workflows. But the honest truth is I don’t know how to do it. And in terms of I know how to schedule viewing, but I don’t know how to show you from the other side.
And I wasn’t expecting an empty office because of another COVID outbreak here, but I could get you a separate demo of that, which is our other workflow. We try and push people down. Two workflows here.
That’s really what we’re interested because we’ve got all the 3D tours. Like, what else do you need? We’ve got all the information, cam fees. What else do you need really, to make a decision? Yes.
You might want to see it. We’ll schedule a viewing with you and it will ask you if that’s a virtual viewing or physical viewing. And then it will trigger the making of a workflow.
And they’re basically the two workflows. Let me just jump out of this and delete that. And to be honest, I can actually send that to you.
I’ve got no problem sending a video, I just hadn’t watched it yet, so I didn’t know what it was, how much detail. So along the process as well, we’ve got total visibility through our admin panel. We can see everything going on in every single deal.
They’re the call to actions, schedule view, making, our far, how it works, all videos and stuff going on about that. Self listings is equally as impressive. So self listings, like, you just select your development, it looks at your pictures using Vision API and ABM suggests the value, what price you should be selling at.
And the reality is, again, for that one, I would need a separate person to demo this to you because that’s a tech team that really know how this works. But basically, if you’re listing your property, the system will guide you through what the price should be and how to improve the price as well, which is quite clever. And it’s not like add better pictures.
It’s not like that not like basic nonsense that everyone preaches. So it kind of understands like, based on your property, this is what you need to do if you want to hire property price, this is what price you need to list it for if you want to sell it within this time frame. And you can actually go online and have a go yourself.
And that’s through you click Sell here. I’ll try and show you a little bit of it quickly. I don’t fully say Sell condo.
So you put the project name in. So it says Camela Regent. How do I get rid of these icons here next? And it will ask him is this the project? And that is the project.
So yes. And you go through this making this rubbish up. Now, what building is it in? Because it knows all different buildings in the project and unit IDs.
I’m just going have to to make this up, so I’ve got no idea. Let’s go. Building gay.
What floor is on? Third. Let’s just say it’s fully furnished. It’s part of the foreign quote, so it gives you all the overview, what year was it, and then you optional upload your documents.
If you do it now, you get access to make an offer immediately. If you don’t, you’ve got to validate it later. These are the actual in features of your property, not the communal area.
So it just has got a Jacuzzi, it’s got a terrace and it’s got city view, and then make your listing stand out. So just add the pictures I want now to do that, add my DBP logo and then upload the floor plan. It gives you 20%, like more inquiries, blah, blah.
And then the price, the sale unoccupied or okay, based on what I put in, because it was nonsense details, it says that it can’t get me an estimated price because I put a 300 square meter condo in the building, which only has 40. But if I would have done it properly, it would give me estimated price and it gives you all guidance onto it. So I’m going to cancel out that.
But this all works on mobile desktop very well. The other part I’ll draw attention to if I go to Fazwas.com. So here, this is our dashboard.
So if I’m logged into the system, you have this dashboard here, so you can see your recently viewed properties and you can see it’s a proper dashboard. It’s not like some rubbish dashboard. All users have access to this.
So you can see your save searches, your viewings. You put through any scheduled viewings. I’ve done none offers.
I think you’ve got offers, sent offers made. So you can see I’ve got an offer here which I haven’t finished, and it’s got notifications, everything, how many reviews you’ve written. So these are all my reviews I’ve done.
It’s creating a whole ecosystem for users to come back and utilize the platform because the actual engagement rate on the site is extremely high. Some site users are spending by sellers and buyers, and we’re really geared for that. Let me just keep going through this.
So we’ve got a good user, you won’t try and use your time, all different alerts. God knows we want notification preferences attached here. So the next but I don’t know what your time is looking like.
I don’t want to kill you into how much time you got or are you kind of running out for the day if you don’t want to listen to any more because you just had enough in your I do have something to rush every day. Okay. But yeah, it was a very fruitful tech functional run through.
Definitely share this with Sean. So I think it does give us a very clear picture on how does the online transactions being done. At least what you have already on hand rather than giving us all the functions and telling and we’re not sure if those functions are already ready or just on the way.
So right now we are kind of clear. There’s a load more in relation to how the workflows work. And this is which I’ve seller workflows, buy workflows.
We’ve also got an app which is called Insight app, which is for free for the whole market, which provides the market data which is probably worth looking at at another point. But the main point is that and this is the conversation we have multiple times with potential acquirers of the company is that we tech company, a real estate company we’re more tech than anyone else. We’re so far beyond on Tech.
This kind of demonstrates because there’s a lot more to this as well. How CRM works. Lead flow.
We’re so far ahead of traditional know that it’s light and day now between know in terms of how know no one’s even close to this, especially in emerging markets. I mean, the closest companies you will see for this is maybe offer pads in the US. Have an offer platform similar.
To what we run. Redfin have schedule a viewing workflow similar to what we have. We’ve basically emulated the big tech giants in the US and taken a lot of their functionality and brought it to these markets.
I don’t think we’re really innovating. We’re really taking stuff and bringing smartphones. I think the core innovation that Fastware has is the ABM that’s like proprietary to our it’s almost impossible to replicate.
You need our data set and you’ve seen how much data we have. And use vision API. Everything else.
This actually exists. And if you would like a separate demo, I mean, our guys in US, they’re data scientists. They built out I buyer for the US models.