ERA acquires listing rights on Chinese property portal Fang.com
Real estate agency ERA has acquired listing rights on Chinese property portal Fang.com, which has 80 million registered users and a monthly visitor count of 14.83 million, for its Singapore property listings section.
The move by ERA will help its 17,300 agents tap the Chinese market. The platform allows an immediate virtual meeting to be hosted between potential overseas real estate investors and ERA agents.
When the number of Covid-19 cases hit its peak, the New York Stock Exchange-listed property platform handled over 120,000 times of live streaming, with over five million viewers daily, as the country was on partial lockdown with strict quarantine measures. In one of its live sessions, 102 apartments were sold in half an hour and over 1,000 units were sold in a day.
Under the exclusive arrangement with Fang.com, ERA will be subsidising the on-boarding cost for its agents to utilise the suite of features on Fang.com to market local properties to potential buyers in China remotely.
Since July, the real estate agency has organised four live streaming sessions on Fang.com and garnered a combined total of over 130,600 viewers and over 42,800 engagements during these sessions. It is set to organise another live streaming session on Fang.com on Oct 2 at 11am, catering to Chinese buyers.
“With Singapore becoming the de facto country to invest in for Chinese technology giants, more investments are expected to come in and with that, housing demand will rise,” comments Jack Chua, CEO of ERA.