SingaporeReal Estate Exchange is a consortium of leading real estate agencies administered by StreetSine Technology Group in Singapore. 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. StreetSine Technology Group, a subsidiary of Singapore Press Holdings, 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 , and mortgage financing in collaboration with Maybank on . 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.
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.
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. Listings are validated through internal systems of the estate agencies in accordance with the Estate Agent Agreement for exclusive listings as prescribed by . 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.
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 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.
