On the 7th, proptech company TheBiz, which has over 20,000 licensed real estate agent members, announced that it has signed a Memorandum of Understanding (MOU) with real estate big data/content specialist company Real Estate R114 to strengthen AI/digital-based brokerage business competitiveness.
Through this agreement, the two companies will collaborate to support brokerage tasks with AI/digital technology via TheBiz’s licensed real estate agent platform 'Isiljang,' launched in July, thereby enhancing the competitiveness of licensed real estate agents.
'Isiljang' is a service that supports licensed real estate agents in efficiently focusing on client consultations and brokerage activities by using AI/digital technology for tasks such as site visits, consultation/contract management, and property promotion. It automatically records consultation details with clients into the property ledger and features AI-powered property search and recommendation functions tailored to client preferences. TheBiz is promoting the integration of various businesses on the 'Isiljang' platform to expand agents’ revenue and foster mutual growth with the licensed real estate industry.
Through this agreement, the real estate information portal Real Estate R114 will provide high-quality real estate information by combining real estate data and content and engage in joint marketing utilizing Real Estate R114’s infrastructure. Furthermore, it will cooperate in creating an environment necessary for the advancement of the licensed real estate industry.
Yoon Seong-ho, CEO of TheBiz, expressed, "We sincerely thank Real Estate R114 for joining us in strengthening the competitiveness of the licensed real estate industry," adding, "TheBiz will strive to create a ‘win-win platform’ together with various players in the industry." He also emphasized, "The door of ‘Isiljang’ is always open, so anyone interested in collaborating is welcome to contact us anytime."
Kwack Hyo-shin, CEO of Real Estate R114, stated, "The MOU with TheBiz is meaningful in providing increased property advertising effects to licensed real estate agents struggling with declining transaction volumes and offering general consumers more opportunities to select verified properties through abundant listings," adding, "We will continue to strengthen cooperation to improve the accuracy and reliability of data as a company that provides standards for real estate information." He also said, "Through various joint marketing efforts with TheBiz, we will establish an environment for the advancement of the licensed real estate industry."
TheBiz and Real Estate R114 are expert groups in the real estate information industry, with many veterans having over 20 years of industry experience. With this agreement, ‘Isiljang’ now has the largest membership base in the private sector in Korea, with approximately 26,000 licensed real estate agent member companies (based on business registration).
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