Text: Shi Ying Wong. This article was originally on BEAM and has been republished and edited with permission.
Having been a tenant for more than 10 years, Ng Chun Lei saw how property agents in Singapore struggled with the administration of real estate transactions. On top of their hectic property viewing schedules, they have to deal with large amounts of manual paperwork.
“My agent came over to my place late at night with several sets of the same agreement and got me to sign them multiple times. Right then, I knew that technology could save precious time which could otherwise be used for more viewings, or to catch up on rest.” recounted Chun Lei, on his personal experience with the hassle and paperwork often encountered in leasing processes.
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On average, a property agent deals with more than 20 pages of administrative documents throughout one leasing process. This process often gets delayed or prolonged simply because these hard-copy documents are inconvenient and troublesome to deal with.
The Real Estate Industry Transformation Map was released in February 2018, laying down the direction and key initiatives to future-proof Singapore’s Real Estate Industry. Following this, Chun Lei thought that it was an opportune time to launch a product that would reduce friction in property transactions.
Chun Lei founded Rejig in March this year, in line with the government’s roadmap to make property transactions more seamless and digitalised.
Rejig is a document, communication, inventory and leasing management mobile application designed specially for real estate agents, tenants and landlords. The app increases the productivity of property agents by providing an integrated document storage and communication system for all property transactions.
“We want to build a trusted global community of tenants, agents and landlords operating in an ecosystem focused on collaboration, efficiency and transparency.” says Chun Lei, on his vision for Rejig. “We also hope to reduce the overall incidence of real estate transaction fraud and eliminate the manual paperwork involved. Less paper is also more green!”
When asked to advise fellow entrepreneurs and startup owners, Chun Lei shares: “ Startup life can be lonely. It helps to surround yourself with like-minded people to bounce ideas and share experiences. You may also face many setbacks along the way so brace yourself and keep trying.”
Rejig hopes to launch its pilot phase within the next month to do more validation and testing. They intend to use the insights and feedback garnered to refine the product and hence deliver the greatest value to tenants, agents and landlords.
Visit Rejig’s website to find out more about their work.