UrbanZoom Unveils Ratings-Based Commission for Housing Agents, A First in Singapore

UrbanZoom, Singapore’s premier AI-enabled research portal for residential properties, has unveiled its latest offering, Urban Agents, in response to user feedback.

Urban Agents has been launched as a referral platform to connect home sellers with a curated list of property agents from various licensed agencies who were picked for their reliability, track record, and service orientation. 

One of the unique features of the Urban Agents programme is the introduction of FairPay Pledge, which pegs the agent’s commission to the final rating given by the home seller.

"Typically, home sellers and the property agent agree on the commission rate upfront. However, our programme will allow the home seller to rate the performance of the agent at the end of the transaction and pay what they think is deserved." explains Michael Cho, founder and CEO of UrbanZoom.

"This rating-based commission initiative, an industry first, will radically change the service delivery mindset of the agent and put greater impetus on the need to work even harder for the customer.  Unlike other online ratings which can be hard to verify and are often inconsequential, our rating system goes directly into the bottom line of the agent."

Aside from FairPay, other enhanced privileges that are offered as part of the Urban Agents programme include free home photography, basic home staging, boosted advertising listings, free rides for selected home-viewing buyers, use of smart locks for vacant units, and insurance to cover any accidental property damage during home viewings.

More importantly, all home sellers will have access to a private webpage with timely updates so that they can track progress and keep tabs on the performance of their property agent. 

"We hope to create this win-win situation where home sellers have assurance of a great customer service, while the agents we work with will be able to receive a consistent pipeline of exclusive leads and enhance their level of services with the consumer-oriented perks included in Urban Agents programme." adds Michael Cho.

Urban Agents is the latest addition to UrbanZoom’s suite of services as it pursues its mission of empowering home owners in Singapore, beginning with data-driven, actionable insights into their homes. Last month, the company also opened up API access to its proprietary auto-valuation tool, Zoom Value, for businesses to tap into property data and insights in real-time.

For more information on Urban Agents, please visit the website at www.urbanagents.com