B2B Cambodia's Riel Movers offers in-depth video interviews with influential leaders who inspire, impact, innovative, and create positive change in the Kingdom's business community.
The show's third guest is Tom O'Sullivan, Director of Realestate.com.kh (REAKH). Originally founded in Cambodia in 2009 by a local entrepreneur, REAKH was purchased by Australian company, Digital Classifieds Group (DCG), in 2015, and has since grown into one of the leading real estate platforms in the Kingdom.
Together with our host, Anthony Galliano, O'Sullivan discusses the growth and expansion of REAKH, Cambodia's ever evolving property cycle, what opportunities exist in the local real estate market, REAKH's real estate awards and property show, and more.
History Of Realestate.com.kh
Since being bought by DCG in 2015, Cambodia, O'Sullivan shared, became the company's second largest market in terms of products.
We're a real estate platform that brings together all of the properties in the market. Our clients, being real estate agencies and property developers, have listing packages, and we centralise all the listings in one convenient place online for property seekers to see all of the properties for sale and rent in Cambodia.
O'Sullivan added that when REAKH first entered the market, it was a very traditional real estate portal where we went out to the market, to agents and developers, and we actually bought all their listings onto the platform for free. But as we started to deliver value to our clients in terms of delivering them, buyers and renters, we started to create marketing packages which were which were optional. And we we had that business model all way up until the end of 2019 when covid came to Cambodia. So at that point in time, we said, well, you know, what are we going to do as a business to survive? So we switched the model quite quickly to being a transactional based business. So still having all of the developers and the agencies on the platform, but instead of us charging marketing fees, we would play in the commission. So for property developers, we would do, and we still do everything, end to end, which means we do the marketing, we generate the lead, and we close the deal in house with our agents, and then separately for resale properties and rental properties, agencies still list their properties on the website, and we co broke with With the agent, if their listing generates a lead, I'm