DirectHome Pte Ltd (‘DH’) is a Singapore incorporated company founded by Kiegan Chia. Notably, DH also facilitates lawful cash-backs to buyers (as reviewed by relevant authorities) who buy primary properties via DH. The cash-back arrangement is a novel and valuable feature that sets DH apart from its competitors. DH’s ICO is unlike many other ICOs because it is based on an already viable and profitable business model. Unlike many blockchain startups, DH already has an established business which goes beyond a vision and a roadmap. DH has succeeded because it reduces transaction and search costs for buyers and sellers and allows buyers of primary property to share some of the profits property developers earn. While traditional property web-portals are agent and developer centric, DH is disruptive to existing incumbents because it puts ordinary buyers first, significantly reducing search-costs.
DirectHome (‘DH’) is the brainchild of Kiegan Chia, an engineer by training and former elite top-performing realtor. Kiegan believes that the real estate agency business as we know it is a dying trade. In February 2016, he thus launched DH, a comprehensive online platform, that connects property sellers (and landlords) to potential buyers (and tenants). The platform provides a means by which parties can avoid the need for agents (and associated fees) in transacting successfully. DH allows its users to view prospective homes from the comfort of their laptops and instead of contacting an agent to schedule viewings, allows users to message sellers directly if a listing catches their eye. The two business lines DH currently offers are in respective of (a) secondary sales (‘resale properties’) and (b) primary sales (‘developer sales’).
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