SINGAPORE, Feb 6 — Home buyers in Singapore may soon rely on artificial intelligence rather than human agents to find their next property.
Yesterday, property portal Mogul.sg introduced Maia (Mogul’s Artificial Intelligence Agent), the first AI-powered property agent in Singapore.
Maia scours over 100,000 listings from major housing platforms such as 99.co and PropertyGuru to recommend homes to prospective buyers. It also contacts property agents via WhatsApp to schedule viewings on behalf of users.
Unlike traditional buyer’s agents who typically receive a 1 per cent co-broking fee, Maia operates at a fraction of the cost, with Mogul.sg taking just 0.2 per cent in commission.
This move could challenge the conventional property agent model, which has long been criticised for sellers’ agents keeping the entire 2 per cent commission paid by the seller.
In an interview with The Straits Times, Mogul.sg CEO Gerald Sim said the platform simplifies an otherwise cumbersome home-buying process.
“Nowadays, you either pay an agent or do the hard work yourself. So, we’ve tried to build this app with the buyer in mind to help him or her save time and cost,” he was quoted as saying.
To use Maia, buyers log into the Mogul.sg platform and enter their preferences, including location, housing type, budget, and amenities. The AI then curates property listings from external sources and Mogul.sg’s database, allowing users to like or dislike listings. Once a suitable home is found, Maia arranges viewing appointments via WhatsApp.
The AI, developed using Google Cloud’s Vertex AI Platform, can interpret multiple languages, including Singlish. It also facilitates scheduling by sending calendar prompts to both the buyer and the seller’s agent.
Once a sale is completed, Mogul.sg collects its 0.2 per cent referral fee and encourages buyers to update the platform on their progress. Sellers may also find the AI advantageous, as it offers a lower commission alternative to traditional co-broking arrangements.
The emergence of Maia is expected to shake up Singapore’s real estate industry. Mogul.sg’s chief research officer Nicholas Mak said the market is currently saturated with agents, many of whom secure only a few transactions per year.
“This moment is a wake-up call for agents,” said Mak.
“Property agents will need to up their game to stay competitive and ensure that they bring value to their services.”
Real estate firm PropertyLimBrothers has partnered with Mogul.sg to educate agents on how to work alongside AI technology.
CEO Melvin Lim described Maia as a “home buying revolution,” saying it streamlines the process by connecting sellers directly with buyers.
Despite AI’s growing role in property transactions, industry experts believe human agents will remain relevant.
Lee Sze Teck, senior director of data analytics at Huttons Real Estate Group, noted that agents provide market insights and negotiation skills that AI cannot replicate.
“Negotiation is an art,” said Singapore Estate Agents Association president Adam Wang.
“It’s not something AI can do now.”
