Swipe Your Perfect Property Match
Swipe Your Perfect Property Match
It is now more expensive than ever to list a property online for sale or rent in Australia, where two legacy media portals monopolize most of the market using an antiquated “paid classifieds” ad-based system where you can only list a property online if you pay the high listing fees.
As a rapidly growing disruptor to this existing $23B market in Australia alone, Soho is a new personalized real estate discovery platform that leverages AI technology to match people with their dream home faster, whilst also being free for agents and property seekers to use. There’s no charge to list properties and they are presented to buyers/renters based on the preferences they set in their profiles. Consumers get shown property matches in a tinder like experience and can swipe left or right to quickly shortlist or reject properties suggested. With each swipe the platform is learning more about a user’s preferences and can refine the suggestions even further for the user by leveraging data and AI algorithms.
For agents, due to all the data being captured from explicit user interactions with properties, Soho is able to provide a complete picture for agents of their interested buyer profiles and price ranges; i.e. what type of buyers like their property and what type of buyers do not like their property. Soho is the only real estate platform in the world truly uncovering the real-time demand of buyers and renters in the market that improves the more you use it the app, in contrast to incumbent property platforms which do not react to you in any way the more you use it. By offering “Property Match” in conjunction with a search feature, Soho allows agents to market properties to qualified and engaged buyers with matching profiles, as opposed to just a simple “Pay to list/Search & Refresh” type approach.
Founded in 2018, Soho has quickly grown to 473,000 monthly unique users, 1.74 million page views, and over 200,000 searchable properties – all achieved without significant marketing. The platform supports both properties for sale and rent.
Soho has recently secured a strategic $5M investment from Seven West Media (ASX:SWM), Australia’s largest diversified media company and #1 free to air television network with an audience reach of 20M per month, to scale the platform into the mass market. With exclusive programming rights such as the recent 2021 Tokyo Olympics, X-Factor and other blockbuster hits, this partnership will provide a nationwide platform to market Soho to millions of Australians every month.
Soho generates revenue from partnerships with mortgage lenders, licensing of data to enterprises, and premium subscription upgrades for realtors who want access to their listing analytics and market insights. To this point, Soho has built the platform with seed money and growing traction, is looking for Series A investors to accelerate marketing campaigns, product optimization, acquisitions, roll out of data and subscription products, and additional staff.
Soho was founded by a serial entrepreneur and team with significant experience building first-class technology platforms, including founder Jonathan Lui, who founded and IPO’ed Airtasker.com (ASX:ART $400M+ market cap), Tank Stream Labs and Tank Stream VC. SWM was the largest investor and shareholder in Airtasker and together with Soho will drive the platform to become a major player in the online Australian real estate sector.
More information is available at Soho.com.au
All statements and expressions are the sole opinion of the company and are subject to change without notice. The Company is not liable for any investment decisions by its readers or subscribers. It is strongly recommended that any purchase or sale decision be discussed with a financial advisor, or a broker-dealer, or a member of any financial regulatory bodies. The information contained herein has been provided as an information service only. The accuracy or completeness of the information is not warranted and is only as reliable as the sources from which it was obtained. Investors are cautioned that they may lose all or a portion of their investment in this or any other company. Information contained herein contains “forward looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities and Exchange Act of 1934, as amended. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance are not statements of historical facts and may be “forward looking statements”. Forward looking statements are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements may be identified through the use of words such as “expects”, “will”, “anticipates”, “estimates”, “believes”, or by statements indicating certain actions “may”, “could”, “should” or “might” occur.