OpenHouse’s AI Solution Targets First-time Buyers

The application will provide first-time homebuyers with access to exclusive listings and customised recommendations of housing projects

OpenHouse, an artificial intelligence property technology (AI PropTech) company under the OpenMinds Group, has launched an AI PropTech solution, with version one developed at a cost of RM250,000.

OpenMinds Resources developed the OpenHouse AI-driven application in collaboration with property developer TA Global Bhd to provide first-time homebuyers with access to exclusive listings and customised recommendations of housing projects.

OpenMinds Resouces and OpenHouse Technology Director Jan Wong said it now has more than 200 projects through its partnership with TA Global, mainly focused around the Klang Valley, as it noticed this region as one of the hotspots across Peninsular Malaysia for property buying and investment. “This year we aim to list not less than 1,000 projects in Malaysia on the OpenHouse app before going into other regions outside the country,” he said during the launch.

We integrated Al technology with map navigation into the homebuying experience to enhance customisation for our users, while at the same time working with leading developers to offer a wide range of quality property options.

Jan Wong, Technology Director, OpenMinds Resouces and OpenHouse

Wong said the aim is to enhance the entire ecosystem of real estate buying and selling, including educating users. He added that OpenHouse wants to fill in the gap with AI, with navigation maps and news curated in one place.

“Our proprietary technology, RE:ai (Real Estate Al), integrates various data sources – such as news, user behaviour and property valuations – to deliver comprehensive and meaningful information that enhances a buyer’s journey. We integrated Al technology with map navigation into the homebuying experience to enhance customisation for our users, while at the same time working with leading developers like TA Global to offer a wide range of quality property options,” he added.

No Monetisation in First Year

However, Wong stated that OpenHouse does not anticipate monetisation to occur within the first 12 months. “These 12 months, we are dedicated to building the data that is being put out. (And) in trying to get more developers on board as well and also to continue to feed the AI with as much information and data as possible. So, we’ll take at least the first year to find through all these details before going into any form of monetisation in the future,” he observed.

OpenHouse’s mission is to make the dream of homeownership a reality for first-time buyers. “We understand that finding your perfect home can be a daunting task but with OpenHouse the journey becomes seamless and exciting,” he said.

By leveraging Al innovative technology and strategic partnerships, OpenHouse aims to redefine the way people discover and purchase their dream homes.

Jan Wong, Technology Director, OpenMinds Resouces and OpenHouse

Wong stressed that its vision is to become the leading property platform for new property prelaunches and launches in Malaysia, with aspirations to expand into the Asean market. “By leveraging Al innovative technology and strategic partnerships, OpenHouse aims to redefine the way people discover and purchase their dream homes,” he said.

The company said the technology behind OpenHouse is being updated with new functions to be rolled out in the coming months. This includes expanding the custom-built Al tool, Re:ai, to improve property recommendations and enhance the user journey experience.

On the property developer side, it said the Al system will focus on helping increase lead quality for properties through efficient matching.