Ohmyhome Is the First Property Platform Solution in Singapore to Pioneer Property Ownership Verification With Singpass

As of today, Ohmyhome’s 110,000 monthly active users in Singapore can access Singpass-verified property listings on the platform. This initiative is part of Ohmyhome’s effort to enhance the security of its platform and ensure the authenticity of all listed properties. This security feature is currently tailored for HDB homeowners who wish to sell or lease their properties, by allowing them to verify their listings automatically via Singpass. With Singpass-verified listings, it will promote a more secure seller-buyer and landlord-tenant communication.

A property platform you can trust, with Singpass-verified property listings

Scammers are getting smarter and more creative with their tactics in 2021, as scam cases surged by 53% from 2020. In fact, the police have warned against the recent spate of rental scams involving fake property listings that cost about 144 victims at least $19,000 in money lost since January 2022.

It is not only important for the public to be well-informed and discerning, but companies who are handling transactions and confidential information need to step up their efforts in enhancing security and compliance.

 
 
 
 
 
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Ms. Race Wong, CPO of Ohmyhome, states “In today’s digital era, it is our absolute duty to ensure that we provide a secure and trusted platform for our customers.  We have partnered with The Government Technology Agency (GovTech) for it is the most adopted national digital identity system in the world, with over 4.2 million users in Singapore. This collaboration will upgrade the authenticity, security and convenience factors in property transactions, and we are proud to say that we are now the first and the only prop-tech platform to do so, and will continue to strive to improve customer experience and trust in our services.”

Dive Deeper: How to Spot Property Agent Impersonation Scams in Singapore

With a DIY platform that allows genuine sellers and landlords to conveniently list their properties for sale or rent, and for genuine buyers and tenants to look for their ideal home and place of accommodations, Ohmyhome has taken the necessary steps to progressively strengthen its anti-fraud policies to reduce impersonation cases with Myinfo’s unique customer’s data, and protect their customers and enhance customer experience. Ohmyhome also enforces a strict compliance policy that will only retrieve users’ Myinfo data upon permission in Singpass. Ohmyhome will only collect the minimum set of data required to verify their homes for sale and rent, and all data sent between Ohmyhome and Singpass are encrypted.

What does this mean for Ohmyhome platform users?

  • HDB Property listing ownership verification can now be done via Singpass
  • A more convenient way for owners to list and verify their HDB properties simultaneously, with Myinfo’s automatic form submission instead of manual entries
  • A more secure environment for seller-buyer and landlord-tenant communication, as buyers and tenants will be able to locate a genuine and verified property listing easily, which will reduce scam cases drastically.

In August 2022 

  • It will be compulsory for all HDB and Private property listings to be verified on Ohmyhome.
  • Property listing ownership verification will be able to be done via (i) Singpass or (ii) Manual submission of documents

How it works

Step 1: Download the Ohmyhome app and start listing your HDB flat

Step 2: Tap on “Retrieve Myinfo with Singpass”

Step 3: Upon successful verification, your information will be filled automatically

Step 4: Your verified listing will display a Singpass-verified icon.

List your home for free on Ohmyhome – no hidden fees!

Post a property listing for sale or for rent within minutes on the Ohmyhome mobile app, available on App Store and Google Play. You can browse multiple ShoutOuts from buyers and tenants that tell you their preferred property, from location to budget. If it matches your listing, you can suggest it to them immediately, start a conversation, and close a deal — all in one app.

Ohmyhome Raises US$5M in Series A+ Funding

SINGAPORE (Aug 4, 2021) – Ohmyhome, the leading Property One-Stop Shop Platform, on Wednesday said it has raised US$5 million in a new round of funding led by Swettenham Blue. This is on the back of a US$1.6 billion cumulative GMV which is expected to quadruple over the next 12 months. Revenue is also expected to triple during the same period, before the launch of its Series B funding next year.

The amount is twice the valuation of the previous Series A round led by Golden Equator Ventures.

The company will use the fresh capital to enhance its data-matching technology across its Singapore, Malaysia and Philippine markets.

This data matching advantage has enabled the company to close property deals in Singapore 2x faster than competitors in the past 4 years. The company’s database handles around 175,000 transactors per month, allowing it to secure stronger prices and speed for its customers’ property transactions.

CEO Rhonda Wong says “Our core mission is to help our customers transact as hassle-free as possible, at the best price. We have stayed true to our mission and we look forward to greater enhancement in our technology to further speed up the pace of transactions. Though we are leading in this area, I feel that we are only getting started. We are excited about the projects in our pipeline.”

Started in 2016, the company has grown from a self-serve business model into a full-fledged property platform. Its one-stop shop model covers every stage of the property journey – from search, self listing, agent service, mortgage and conveyancing, to renovation and even moving services.

In addition, it facilitates the buying and selling of properties across the borders of the three countries it operates in without need for the client to travel to the country, an especially helpful feature amid the pandemic.

To meet the growing demand from Filipinos working abroad interested in purchasing properties in the Philippines, Ohmyhome expanded into the Philippines in 2020. Remittances from Filipinos working abroad reached US$2.38 billion in May this year, the Philippine Central Bank has reported, up from US$2.11 billion in the same month a year ago. A significant portion of these remittances goes into building up their nest eggs, oftentimes in the form of real estate.

“It is Southeast Asia’s second most populous country with a population of over 100 million. It is a fast-growing market, both in population and economy, and we hope to assist Filipinos in their housing needs,” Ms Wong said.

Looking for an HDB or private property?

Here’s how you can speed up your home search

Let Ohmyhome’s smart data-matching technology MATCH you with the right home, according to your specific needs. Submit your preferences to us and our algorithm will filter all our available listings based on those, and we’ll WhatsApp them to you once we find a match. We’ll also send you relevant content that you can use for your research and inform your home buying decision, so you no longer have to spend hours searching online for the information that you need.

You can also call us at 6886 9009 to secure an appointment with any of our Super Agents or message us in the chatbox at the bottom, right-hand corner of the screen. You can also WhatsApp us at 9727 5270!

S’pore Property Marketplace Ohmyhome Raises S$4M- Eyes M’sia And Thailand Expansion

by Melissa Chan, Published in Vulcan Post

The PropTech industry in Singapore is heating up, indeed.

Today, PropTech marketplace Ohmyhome announced that they have just raised S$4 million Series A funding, led by Golden Equator Capital.

Launched in September 2016 by sisters Rhonda and Race Wong, Ohmyhome sets out to make housing transactions “simpler, faster, and more affordable” by facilitating DIY transactions, agent services at fixed rates, and on-demand mortgage and legal services.

According to the press release, Ohmyhome was named “Singapore’s No.1 HDB app” in January 2017.

Said Rhonda Wong, CEO and co-founder of Ohmyhome, “After seeing a strong adoption for our services, our focus now is to further drive growth in Singapore and expand into the neighbouring markets.”

Added Race Wong, COO and co-founder, “As other industries embraced innovation, we saw a gap in the real estate market where transactions are carried out in a traditional manner. […] That was why we founded Ohmyhome to create a one-stop solution to make housing transactions simpler, faster, and affordable for all homeowners and home seekers.”

Daren Tan, Managing Partner at Golden Equator Capital shared: “The market average selling time for property in Singapore is 120 days. At Ohmyhome, the fastest selling time is in one day and average of 33 days.”

Currently, Ohmyhome has offices in Singapore and The Philippines, and with its fresh round of funding, plans to deepen its presence in Singapore and plans to expand into Malaysia and Thailand.