Thailand Proptech Firm Leading App
FazWaz,Thailand’s real estate proptech company, takes a data-driven approach to service clients by providing the best value property in the country. FazWaz company founded in 2015 with a primary focus on using a data-driven approach to provide high-quality real-time information.
Recently, FazWaz launched a new app (FazWaz Market Insights) working towards digitizing the local real estate market. FazWaz Chief Executive and Co-Founder Brennan Campbell said the app supports investors, banks, brokers, and real estate developers to analyze consumer behavior and the market through historical and real-time data-driven information.
The problem with the country's real estate market is that data-driven information lags behind consumer decision-making. FazWaz is solving this major problem by accelerating data information in parallel with consumer decision-making. The fundamentals of data do not lie, as it provides accurate information to consumers' purchasing power.
Brennan Campbell continued by saying, "big data is becoming an essential tool for developers and projects to take a better look for new project unit configurations, pricing, strategies, and even ways to segment or remarket slow-selling inventory"'.
Since the start of the pandemic, users have been moving towards digitizing sales transactions in Bangkok. According to FazWaz pipeline data over the last seven years. Online apartment and condo sale transactions rose sharply.
According to James Corbin-Mckenzie, FazWaz's chief customer officer, "there is increasingly a shift from real estate product-based sales to a refocus on the customers."
FazWaz's Market Insights app allows the brogue to push engagement to customers and more easily transition quality leads by collecting data from daily active users. (DAU).
Since the pandemic's start, Southeast Asia has been changing towards online purchases. The property market saw the most significant difference between digitization and data-driven information. Online apartment sales rose sharply, with virtual 3D data tours, dynamically priced auctions, past property market value, or online tours being the driving factors.
The effects of the pandemic did change consumer lifestyles as well. Customers are browsing to acquire a second home in prime destination regions in Southeast Asia. From the coastal town of Hua-Hin to the vibrant Phuket to the azure beaches of Bali. These destination regions saw an uptrend in villa sale transactions. For example, Phuket's villa acquisition saw an increase of 8% year-on-year growth.
Furthermore, FazWaz proptech company is the first in the region to develop an automated valuation model (AVM). The company's automated valuation model is an innovation that can accurately estimate your property market value using real-time and historical data from FazWaz pipe. FazWaz's real estate operations and creation is not only in Southeast Asia. But provide further services to Europe, America, and other parts of east Asia. You can check your property market value now at FazWaz AVM model here.
Presently, eight of major banks in Thailand are using AVM model while calculating mortgage loans of buyers.
The FazWaz Market Insights app is ready to download in both Apple App Store and Google Play Store.