1. Loan
1.1. All customer need to get CCRIS/CTOS preapproved before view process
1.1.1. Either get assistance from RHB team or subscribe CCRIS or CTOS system
1.1.1.1. If subscribe to CCRIS/CTOS, to collaborate with third party with customer consent system for automated data extraction
1.1.2. So house owners does not get irrelevant viewers
1.2. Assistance from bank
1.2.1. Simulation
1.2.1.1. Get frequent update of DSR Calculation to update system
1.3. Initial Stages
1.3.1. Partner with RHB Bank
2. Lawyer
2.1. To create internal system for lawyer disbursement updates
2.1.1. Which creates income for company via lawyer subscription
3. Website/Platform
3.1. Buy/sell process
3.1.1. Non target properties by banks
3.1.1.1. To inform client during listing
3.1.2. Once buyer interested in the property
3.1.2.1. Buyer can offer a lesser offer and seller can make counter offer
3.1.2.1.1. Limit on counter offer tries and time limit imposed to reply
3.1.2.2. Can straight up purchase without going through offer/counter offer
3.1.2.2.1. Seller cant push to bid if offer accepted without counter offer
3.1.2.3. Once offer is accepted by both parties, seller has the right to push the sale to bid
3.1.2.3.1. Whoever wants to bid, collect minimal deposit via Credit card and then follow up with 10% stake to Lawyers
3.1.2.3.2. If bid exceeds market value, bidder will be informed that balance of excess will need to be paid (more than 10% deposit)
3.2. Owner listing
3.2.1. For renovated properties, allow seller to tick renovation done (eg, extension, ceiling, cabinets etc with dimensions) to auto calculate suggested market value
3.2.2. Engage buying process AI on later roadmap for better conversion and assistance on purchase journey by the customer (replaces the physical negotiation process by current Real Estate Agents)
3.2.3. To get current market value of unit to assist seller on price of property
3.2.3.1. Value obtain from JJPEH
3.2.3.1.1. To confirm if data is in what form whether it is API
3.2.3.1.2. If rental, to get suggested rental by calculating CMV vs bank installment+yield
3.2.4. To create onboarding to seller on how to take unit pictures
3.3. Rental
3.3.1. To offer short term rentals ie 1,3,6 months short rental
3.3.2. Viewing arrangement is direct owner to tenant without needing viewing tokens
3.3.3. Proposed JV with Blueduck or Speedhome for rental 3+1 waiver
3.4. 3 layers of viewing permission
3.4.1. For public not registered, can only see house listing general area
3.4.2. For registered member add access to pictures of house street and some internal pictures
3.4.3. For registered and KYC done members, can see all pictures of house, including internal pictures and VR navigation
3.4.3.1. To engage third party company to perform KYC (identity verification)
4. Outlet/Licensee
4.1. Buyer can sign SPA or loan agreement in outlet as a service
4.2. Renovation
4.2.1. Only available for rental properties
4.2.2. When listing rental, establish seller's condition. (Bare, Basic, Semi or Full)
4.2.2.1. If bare or basic, advise client to get unit renovated if need us to makeover, to raise quote and engage internal renovation team
4.2.3. If Semi or Full, allow customer to tick what items is renovated (eg AC, beds, cabinets) to add to suggested rental amount
4.2.4. For rental that needs renovation prior to rental agreement between owner and tenant, option to engage internal team after price quote (example repair defects)
4.2.5. Alternatively, if customer can't search for units that they require renovation, they can send in a request for renovation for a certain requested unit type and all sellers with that unit type with get notification whether they are agreeable to renovate their unit to close a sale/rent
4.3. Offer custom paid services
4.3.1. Water bill name trasfer service
4.3.2. TNB transfer service
4.3.3. Cleaning services
4.3.4. Moving services
4.3.5. Extra income for outlets
4.4. Level of control
4.4.1. HQ will assist for staffing and hire, but responsibility is on outlet owner. KPI for staff workforce at all times to be in placed (example 1 skilled + 3 non skilled)
4.4.2. Revenue sharing of income with HQ depending on service level KPI measurement
4.4.3. All rental income and sales income within the boundry of area of outlet is shared 80:20 or 70:30 with HQ to make profitable
4.4.4. Outlet to manage all VR recording, viewing appointment, keys collection and handling, complaints management, is duly done and completed on time based on linked booking schedule connected with Main Platform
4.4.4.1. All appointments is mandatory to be performed successfully no matter workforce issues as staffing KPI is at minimum and outlet owner need to do their due diligence if they need to hire more than the minimum staffing requirement
4.4.5. All staff by outlets will have periodic training by HQ on skills, service level, photo and VR capture
4.4.6. Main job scope of the outlet is onground process management and clerical procedures only
4.4.6.1. All buying/selling, price negotiation and informed buying decision to be handled by Fomoprop platform
4.5. Viewing
4.5.1. Optional purchase of insurance if owner worried on security
4.5.2. All viewing appointments MUST be accompanied with Fomoprop outlet representative at all times
4.5.2.1. Reprimand if outlet caught non compliance
4.5.3. All number of viewing to a seller's house controlled by the limited free 3 viewing after KYC done and also , precheck on CCRIS/CTOS, also only KYC verified customers can have the right to view
4.5.4. If customer wants to view more than 3 (after all tokens all used up, can buy viewing tokens on platform)
4.5.5. For verified KYC members get 3 free viewing tokens as well
4.6. Taking photos of units
4.6.1. For initial stages, Fomoprop to assist to take pictures of units for listing
4.6.2. During mid-term of company, photo taking will be done by the owners themselves with very concise tutorial and onboarding of photo taking process
4.6.2.1. Alternatively if client does not want to take photos themselves, they can opt for outlet to send personel to take pictures with a charge (income for the outlet)
4.6.3. VR capture done by outlet staff by schedule from HQ after listing process done