PETALING JAYA: Juwai IQI has completed 22,000 transactions in the first three quarters of 2021 which represents 117% growth in transaction volume from the same period last year.
The real estate technology group attributed the growth to effective recruitment as the company expands its global agent network to 23,000 agents.
Its co-founder and group executive chairman Georg Chmiel said the company accelerated its rapid growth despite Covid-19 and has been profitable and cash flow positive since July, 2020.
“We have expanded our network into Mongolia and Portugal this year, most of the sales growth is organic and driven by technology-enabled productivity gains.
“We are gradually replacing classifieds portals and traditional agency models. Our new model integrates the super application, IQI Global agent network, and the online property marketplaces, Juwai.com and Juwai.asia. This gives real estate marketers an end-to-end marketing and sales solution,” he said.
Juwai IQI co-founder and group CEO Kashif Ansari said when Covid-19 occured, the company’s technology platform Atlas already included features such as virtual tours, virtual meetings, and digital presentations. That enabled them to keep serving the market in spite of difficult conditions.
“Juwai IQI engages approximately 12.9 million users each month, and our agent network is truly globe-spanning, operating in 20 countries either directly or through affiliates or associates. Our diversified global agent network has been a real advantage during the pandemic,” he said.
Juwai IQI group managing director Daniel Ho said digital real estate has remained resilient during the pandemic.
“We foresee a robust market post-pandemic in which buyers will continue to take advantage of relatively inexpensive financing, act on postponed transactions, and benefit from strong economic and employment growth,” he said.