FazWaz, the Phuket startup that has built a tech-first platform to take on Thailand’s real estate giants, is announcing its overseas expansion today.
The move underscores just how far and fast the company has moved since being founded in 2015 in the small beach town of Kamala in Phuket. While real estate markets go up and down, FazWaz has definitely been in a strong growth boom.
The business offers a clear and easy way for property owners to list, market and sell properties, as well as follow through on the many pieces of complex transactional data that occur before and after a deal is made.
FazWaz through its technology is now generating 9,000+ new buyers for the Thailand market per month, that are more qualified and targeted than any other portal in South East Asia. Its agent network has grown 100% in just the last 6 months and is on track with its strategy to control a leading market share of all residential property sales within Thailand.
According to CEO Brennan Campbell, “FazWaz is continuing to build an end-to-end technology platform that services agents and their clients through every step of the real estate journey. More agents are now moving to join the FazWaz network as we open up the platform this year and are excited to expand internationally in 2019 as well.”
FazWaz is trying to disrupt (and improve) the real estate business with ‘tech’ in emerging markets. In addition to the now-established sites like DD Property (Property Guru) and DOT Property (Lifull Connect) that aggregate listings and provide a way to view properties from a range of agencies, there are startups like FazWaz looking to tackle the bigger issue – how to make the market easier to transact and more transparent.
Paul Trayman, the FazWaz COO, says that the property-tech scene in South East Asia is really the ‘David and Goliath’ battle.
“There has been lots of consolidation in the markets to create large conglomerates, snapping up market share but dialling down leadership and innovation. It is now up to companies like us to pave the way towards a 2020 ecosystem, where investment in real estate within emerging markets is a more fluid and trusted process”
If companies like FazWaz manage to improve transparency within Thailand and other markets, then The Thaiger is right behind them. The ride has been interesting to watch, and we are excited to follow their domination on the international scene.
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