Singapore Real Estate Exchange

Singapore Real Estate Exchange (SRX) is a consortium of leading real estate agencies administered by StreetSine Technology Group in Singapore.[1] The Exchange provides the prices of recently sold properties to participating real estate agents more rapidly than conventional, official channels run by the Urban Redevelopment Authority and Housing Development Board.[2][3][4][5]

StreetSine Technology Group, a subsidiary of Singapore Press Holdings (SPH), is the leader in digital property in Singapore, offering one-stop real estate services including residential and commercial Quality Listings on SRX Property, full valuations from srx.com.sg/valuations, and mortgage financing in collaboration with Maybank on srx.com.sg/mortgage.

StreetSine Technology Group integrates big data sets with mobile workflow applications to help real estate-related organizations and professionals employ real-time, relevant, proprietary information in the marketing of their products and services.

History
  • StreetSine and market leaders PropNex, HSR, DWG, and OrangeTee soft-launched the Exchange on 15 July 2011 as part of a coordinated industry effort to share proprietary pricing information and increase efficiency, productivity, and transparency in the market.[6]
  • By 8 Dec 2011, SRX expanded its Member Companies to most of the market, including ERA Real Estate, C&H, ECG, DTZ, Huttons, Savills, and Re/Max.[7]
  • SRX was officially launched on 8 December 2011 with a ceremony attended by industry leaders, government officials, regulators, professors from Singapore's leading universities and members of the media.

Validated listings

The estate agencies created the exchange to provide validated listings.[8] Listings are validated through internal systems of the estate agencies in accordance with the Estate Agent Agreement for exclusive listings as prescribed by Council of Estate Agencies (CEA). Unlike other property portals in Singapore, the validation listing process through the SRX network of the eleven leading estate agencies ensures that no listing is a dummy or duplicate.[9]

Technology enabler

SRX is an electronic information network administered by StreetSine. It is responsible for collecting, cleaning, filtering, processing, and disseminating information via the internet, smart phones, and tablets.

Government collaboration

Effective 15 November 2011, the InfoComm Development Authority (IDA) of Singapore awarded StreetSine a government grant to further develop SRX as a platform to improve the transparency and liquidity of real estate transactions in Singapore.[10]

Members

As of April 2017, the 15 members of the Singapore Real Estate Exchange are:[11]

ERAHuttonsEdmund Tie & CompanySLPSavills
C&HCBRECentury 21PropNexOrangeTee
DWGHSRKFPNGlobal AllianceScotia

References
  1. Mediacorp, TodayOnline News. "Resale housing prices up: SRX", 10 Nov 2012.
  2. Mediacorp, TodayOnline News. "Real estate agencies launch electronic network on property information Archived 2012-01-08 at the Wayback Machine", 9 Dec 2011.
  3. Channel News Asia "Real estate agencies launch electronic network on property information", 9 Dec 2011.
  4. Straits Times "New portal offers faster access to property data", 9 Dec 2011.
  5. Property Report "Singapore real estate goes digital Archived 2012-01-08 at the Wayback Machine", 9 Dec 2011.
  6. Channel News Asia TV "", 8 Dec 2011.
  7. Channel News Asia TV "", 8 Dec 2011.
  8. SRX website validated listing search "SRX Search"
  9. Mediacorp, TodayOnline News. "Real estate agencies launch electronic network on property information Archived 2012-01-08 at the Wayback Machine", 9 Dec 2011.
  10. StreetSine News "IDA awards financial grant to StreetSine to develop the Professional Co-Broking Network (PCN) for Property Enterprises", 5 Dec 2011.
  11. SRX Website "SRX Members", 13 Apr 2017.
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