SPEEDHOME Keen To Combat Illegal Brokers With Industry Associations

9th Sep 2021 Kuala Lumpur –  Whei Meng Wong, the CEO of Malaysia’s biggest end to end rental platform; SPEEDHOME, has responded to the joint statement issued by 5 real estate associations cautioning the public to only deal only with real estate agents and firms registered with the Board of Valuers, Appraisers, Estate Agents and Property Managers (BOVAEP).

Whei Meng Wong, CEO of Malaysia’s biggest End to End rental platform; SPEEDHOME, responded by saying “I stand strong with the Five Real Estate Association in making sure the real estate environment in Malaysia should operate and comply with the existing laws of Malaysia.”

Wong continued by saying “The interest of property landlords and tenants should get protected from the illegal brokers in a more regulated way. SPEEDHOME is ready to step up with the real estate association to combat the industry’s multi-level issues.

Wong said. “As a registered, licensed insurance agent, a profession that is similarly regulated but under Act 758, I can relate to the frustration as I have gone through examinations before being granted a license. I believe SPEEDHOME can be part of the solution given the unique position it has.”

Welcomes Cross-Collaboration To Foster A More Mature Real Estate Industry

SPEEDHOME is an Insurtech company that specialises in Landlord Protection Insurance and operates the largest end to end property rental platform in Malaysia to generate leads for the insurance packages.

While it is rare for professionals from different industries to work together, this would mark the first milestone for cross-collaboration to foster a more mature real estate industry.

Amid this challenging environment where the country is in the economic recovery stage, it’s crucial for different industry players to come together to provide more varied solutions for the market.

For example, through SPEEDHOME, landlords can rent out their units that have been left vacant for too long due to the pandemic. This was also made possible because of Landlord Protection Insurance, which can compensate landlords better, removing the need for traditional deposits thus attracting tenants faster.

In his statement, Wong also said, “despite coming from a different industry, SPEEDHOME welcomes all real estate agents to use the platform for free. I am all in for a healthy competition.”

In the end, Wong expressed “I’m ready to contribute and we will reach out to the respective bodies to initiate a dialogue to address this matter seriously. Together with our influence, reach, and technology know-how, we can be more effective and efficient in growing the real estate market. I hope we can give some updates by mid-October on the outcome.”