The Changing Landscape of Real Estate Brokers
“In 2022, the number of real estate brokers decreased by 70%, indicating that the majority of brokers in the market are unprofessional, not well-trained, and do not consider this as a sustainable, long-term, ethical profession. Such individuals contribute to the negative social perceptions of the real estate brokerage profession,” shared Tô Văn Hùng – Founder of the startup RecBook on the “After the Shark Tank” program.
RecBook is a platform that provides daily updated general information about the real estate market, enabling brokers, offices, and real estate exchanges to work on a single unified platform, replacing all websites, software, and social networks. Simply put, it is like a “CRM” (Customer Relationship Management system) that helps connect brokers and clients based on relevant information.
Despite the slow real estate market, RecBook has achieved consistent revenue growth over the years, with an expected revenue of 30 billion VND in 2023. Recently, RecBook secured a 6 billion VND investment for a 20% stake from Shark Phạm Thanh Hưng and Shark Minh Beta.
Tô Văn Hùng – Founder of the startup RecBook.
Sharing behind-the-scenes stories, Shark Hưng revealed that there were moments he wanted to turn away but ultimately decided to support RecBook. As the leader of CenLand, he had previously established a similar model called nghemoigioi.vn.
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Mission aligned. Many ideas that you, Hùng, are working on have the same mindset as ours back then. They complement what we were lacking. The experiences I have gained in nearly 10 years are what I can contribute to Hùng,” explained Shark Hưng, regarding his partnership with RecBook alongside Shark Minh Beta.
“Secondly, I have proposals from some very prominent figures worldwide. They are working on similar models and want to find a company that is large enough to connect with the global real estate network. This is a platform from the United States,” revealed Shark Hưng, stating two additional future plans with RecBook.
As for Shark Minh Beta, both he and Beta Group have a strong interest in the real estate market. Aplus, a company under Beta Group, also secured an investment commitment from Shark Hưng on Shark Tank Vietnam Season 6.
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Since Shark Hưng and I have collaborated on a proptech (real estate technology) project like this, I am interested and want to continue learning. Alongside the passion and dedication of RecBook’s Founder, all the elements show that this is a game I cannot afford to sit out,” explained Shark Minh Beta, elaborating on his decision to join forces with the real estate startup.
Furthermore, the Chairman of Beta Group believes that the quieter phase of the real estate market is a good opportunity for companies like RecBook to delve deeper into the real estate industry, and thereby elevate the professionalism of brokers.
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The contributions I can make are related to strategy, communication, and how to tell a compelling and effective story to reach the most people, so that they will come to me,” added Shark Minh Beta.
