The new Chairman of the Board of Directors of Dat Xanh Real Estate Services Joint Stock Company (DXS), Mr. Nguyen Truong Son, said that DXS’s strategic mission for the period 2021 – 2025 is to consolidate its leading position in the primary brokerage segment, which develops quickly and strongly. secondary brokerage segment, and at the same time accelerate the process of digital transformation and application of modern technology in business activities.
According to Mr. Son, the secondary brokerage and financial services segment will be the driving force behind DXS’s breakthrough development in the future.
What is the key development strategy for the period 2021 – 2025 of Dat Xanh Services, sir?
Dat Xanh Services is the largest real estate service company in the country today, with 53 member companies, 300 trading floors spread across 63 provinces and cities, nearly 10,000 sales staff, and 100,000 collaborators, transactions from 30,000 to 50,000 products per year. The system of member companies is strong in each region such as Dat Xanh Mien Bac, Dat Xanh Mien Trung, Dat Xanh Mien Nam, Dat Xanh Mien Tay, Dat Xanh Mien Dong South, Dat Xanh Premium… In addition, some units specialize in the segment of high-end products such as Dat Xanh Plus, foreign products such as Dat Xanh International. Each member is planned to develop a specific market and product segment, in which the majority of members have enough financial capacity and business implementation capacity to cooperate with the developer and investor. cover the whole project.
With these strengths and available platforms, Dat Xanh Services will continue to aim for the No. 1 primary brokerage market share and increase its market share in the future.
In addition, the company will develop a fragmented but very potential secondary brokerage segment, while promoting financial services and derivative services to complete the ecosystem. Which, the secondary brokerage segment and the financial services segment are the driving force behind the company’s breakthrough development in the following years.
What is the key development strategy for the period 2021 – 2025 of Dat Xanh Services, sir?
It must be said that the secondary brokerage business is very difficult, so no company stands out and dominates the market. There are also very few companies participating because the brokerage fee is low, only 1.5% – 2%, while the primary brokerage fee is much more attractive, usually from 5% to 8%. In addition, because the source of products is a difficult problem when businesses have to spend a lot of resources to exploit each product, it is very time-consuming and expensive, but they cannot grasp the monopoly because customers often send products to sell. for multiple brokers at the same time. As for the primary market, the source of products sold by the table should be much simpler.
But, the secondary market will “take the throne” when the primary supply will tend to decrease in the future – the same as in other developed countries. Moreover, in Vietnam, the secondary real estate brokerage market is still in its infancy and no one company currently dominates the market.
To be successful in this market, as mentioned, because of low-profit margin, it must be deployed at a large scale to take advantage of the advantages of scale and must apply high technology to collect a large source of products. Cost-effective. Brand and reputation factors are also very important for customers to trust the transaction and must also be attractive enough for the brokerage community to participate.
Dat Xanh Services owns huge customer data and the source of primary products turns into huge secondary products every year. The company also soon plans and is investing and developing technology such as real estate dictionary, planning information, ACN model to solve conundrums about products, brokerage, and customer experience.
The secondary brokerage service is comprehensively researched and developed by DXS in the ecosystem. Customers can access and experience the best for finding a diverse product that fits their needs in the fastest, safest, and most effective way.
So how is the process of digital transformation and real estate application development at Dat Xanh Services conducted, sir?
Many years ago, everyone thought that real estate transactions would not be able to take place online because of the great value of the property, customers had to go to see the project, model house many times before deciding to buy the product.
The development of technology has gradually changed customer behavior, customers spend most of their time online learning about projects, viewing 3D images, 360-degree movies, project review videos, viewing reviews. Discuss and evaluate the project before deciding to pay it down. Besides, the traditional way to reach customers such as through advertising channels, telesales… is more difficult because customers already have a huge amount of information available, so it is difficult to access without a database. whether good.
With that trend in mind, 3 years ago, DXS’s Board of Directors had many trips to Australia, the US, and China to consult real estate business models applying technology and shake hands to promote the transformation process. change number. Taking advantage of the opportunity and rapid development strategy with the goal of digital transformation as the focus of this decade, the Company has pioneered in building a strong real estate technology ecosystem for primary real estate distribution. secondary real estate brokerage and derivative services (such as financial services, property management, online property valuation, online planning check, advertisement, etc.).
In the past 3 years, it can be said that the company has applied information technology comprehensively and deeply into the distribution system. Specifically, DXS has systematized 7.5 million customer data accumulated from the early days of the establishment until now to take better care of them. At the same time, the company has also digitized the entire sales process, customers do not need to bring cash to the opening event to buy products, but can stay at home, transfer money to reserve, confirm the transfer deposit money is very convenient. In addition, we expand financial technology services to connect with banks for loans to customers.
Thank you, sir.
Source: Cafef