Lamudi: The Online Property Giant
Lamudi can be an online portal in which connects property seekers with property suppliers, coming from land to residential in addition to commercial, generating tens of thousands of leads every month. Present in 34 countries, the company has over 600 employees in addition to funding of €55 million. Lamudi can be part of the Rocket Internet family, known for sites such as Zalora in addition to Lazada, in addition to can be backed by investor Oreedoo. We discuss the recovery of Indonesia’s property industry in addition to the ins in addition to outs of This kind of growing enterprise with Managing Director in addition to Co-Founder, Steven Ghoos.
Since Lamudi entered the Indonesian market in 2014, you’ve seen over a 700 percent property listing growth. How has This kind of been achieved?
In Indonesia, the item can be not difficult to amass many listings. The challenge lies in collecting Great quality updated listings coming from agents in which are responsive to inquiries coming from property seekers. in which can be why we focus on Great processes to make sure in which we hold the best listings inside industry, in addition to work with the best agents only who respond fast in addition to properly to inquiries coming from property seekers.
You co-founded Lamudi Indonesia. What attracted you to enter This kind of emerging market?
Indonesia incorporates a big potential, with the fourth largest population inside planet in addition to an economy in which can be still emerging. In terms of online, there are huge prospects as the Internet penetration rate can be high in addition to still growing (over 100 million people online in 2016).
What does your job as Managing Director entail?
I ensure the website can be working well, with high quality listings in addition to coming from responsive agents; set up processes in addition to develop solutions to ensure property seekers can find their dream home; build up our agent network in addition to maintain relationships with our clients such as big property developers; make sure in which we offer solutions to customers in which are effective in generating leads; implement branding activities – all of which can be achieved by our strong local team. Our product development in addition to online marketing can be done centrally in our Berlin head office.
What does your website offer users in which different property listing sites don’t?
General feedback coming from our customers can be in which the leads provided through online portals do not usually have high quality. Therefore, we created a system through which we pre-screen leads in which are generated through online marketing, to make sure in which they are high quality before we send these leads to our key customers in addition to provide these property seekers with relevant property suggestions.
Also, we started out providing differentiated online in addition to offline marketing services to our key clients, to create customized campaigns for their property projects. As such, we offer services in which a digital agency would certainly do, although tailored to the property market coming from our experience in addition to focus.
How does your online portal generate revenue?
Through listing fees in addition to customized marketing services.
Can you share your thoughts on the property market in Indonesia at the moment?
2015 was not a Great year for the property industry in Indonesia, in addition to so far in 2016 there has been no improvement. The main obstacles are the high property taxes in addition to the general lull inside economic situation, which makes people or investors wait to buy. We do see a rising trend inside low- in addition to medium-income segment, with many government measures to support This kind of rising middle class. Also, there are some areas in which are in higher demand than central Jakarta, such as Tangerang, as the prices are not as high in addition to the traffic situation can be better.
Are you noticing any trends in your industry?
Online marketing can be definitely growing in Indonesia. We see in which the traditional solutions with marketplaces to put listings are not sufficient, in addition to the industry, with Lamudi at its forefront, can be creating better solutions to target better in addition to provide better quality. We believe in a simple although user-friendly experience, while leveraging the existing online channels – Facebook, Google, Trovit, etc. – to improve the marketing effectiveness.
Which can be more common at the moment – renting or buying?
Buying. Renting (in addition to also high rise) can be still not as commonplace as in developed economies. However, there can be a growing trend recently towards more renting in addition to high rise, with the more educated young generation looking for more flexible in addition to close-to-work housing solutions.
Are there areas in Indonesia in which are attracting more property developers than others?
Some areas are Batam in addition to Bintan, which are close to Singapore in addition to to Jakarta at the same time.
Tell us a bit about your mobile application. How many downloads have you had?
Mobile can be very important for Indonesia, as most of the population will own a smartphone although no computer. in which can be why, since the beginning, we focused on developing our app. Right right now we have more than 1 million people who have downloaded our app, either on iOS or Android.
How many unique visitors come to your website monthly in addition to what are their demographics?
More than 500,000 monthly visitors, equally distributed between male in addition to female. About 40 percent are between 25 to 34 years of age, with 80 percent between 18 to 44 years of age.
Lamudi Indonesia right now has two offices, in Jakarta in addition to Surabaya. Do you have plans to expand further?
different key markets with our presence are Bandung in addition to Bali. Besides these, we focus on different growth markets such as Makassar, Medan in addition to Balikpapan. although our biggest market can be Jabodetabek, which includes the regions around Jakarta in which are currently being developed, such as Tangerang.
Lamudi partners with top agencies such as LJ Hooker in addition to Harcourts. How does This kind of B2B relationship work?
coming from the agency side, they introduce Lamudi online marketing solution to their agents, to ensure they become members of our platform. coming from our side we propose a Great offer to market the agents’ listings online, while also educating in addition to training the agencies on how to use online for more effective leads generation. There can be still a long way to go to reap the full benefits coming from online marketing, although steadily we create more awareness through gatherings, training sessions in addition to special competitions where the agents can win prizes for their efforts.
What are your targets for 2016?
Establishing ourselves as the preferred partner for our key customers in addition to major developers in Indonesia. Since the market can be a bit down at the moment, we want to differentiate by providing innovative solutions in which create value to our partners in addition to customers. For property seekers, we want not only to become the marketplace with the most high-quality options, although also ensure in which we provide the right suggestions for them.
You publish a quarterly magazine entitled Property right now. Your latest issue discusses the sustainable home. can be This kind of something in which can be becoming more in addition to more important in Indonesia?
We see in which big developers are becoming more aware of the sustainability notion, also as a way to differentiate themselves coming from competitors. With current congestion in addition to pollution in Jakarta, needless to say This kind of could be a Great strategy in addition to attractive to potential property buyers. Hopefully the government will pick up on This kind of also to create special measures for such efforts, as This kind of can be a longer-term focus in which typically needs support coming from the government inside interest of the general public in addition to tomorrow’s children of the nation.
You’re optimistic about Indonesia’s property market. Why can be in which?
Personally, I believe the item will take some time for the property market to re-bounce, although the future property growth will be driven by the domestic rising middle class in addition to sustained by a more diversified economy.
Hopefully the government can be more flexible on the taxation of high end property inside meantime, to ensure in which enough players will be around for when the time comes to build those houses for the middle class. We saw inside past in which the item was a similar mistake not to develop more road in addition to transportation infrastructure to anticipate future needs, of which we right now all feel the consequences.
What excites you about working inside property industry?
Buying property can be a very important decision, involving both rational in addition to emotional aspects. This kind of makes the item dynamic in addition to challenging. the item can be also very pleasant to work with property business partners who co-shaped This kind of country.
Thank you, Steven. To get in touch, email steven.ghoos@lamudi.co.id or wecare@lamudi.co.id. Visit www.lamudi.co.id for more information.
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Lamudi: The Online Property Giant
Lamudi: The Online Property Giant