Juwai IQI Delivers 117% Transaction Volume Growth in First Three Quarters of 2021, Despite Pandemic
Juwai IQI, the real estate technology group that provides an end-to-end marketing and sales solution, announced that it completed 22,000 transactions in the first three quarters of 2021, despite the pandemic. That represents 117% growth in transaction volume over the same period in 2020.
Effective recruiting has resulted in Juwai IQI expanding its global agent network to approximately 23,000 agents.
"These new results show that we continue to accelerate our rapid growth despite COVID," said Co-Founder and Group Executive Chairman Georg Chmiel. "We have been fully profitable and cash flow positive since July of 2020.
"While this year we have expanded our network into Mongolia and Portugal, most of the sales growth is organic and driven by technology-enabled productivity gains and the expansion of our agent network through successful recruiting strategies.
"Our increasing success is further evidence that the Juwai IQI model is ideally suited to the times. We are gradually replacing classifieds portals and traditional agency models. Our new model integrates our super-app, our IQI Global agent network, and the online property marketplaces, Juwai.com and Juwai.asia. This gives real estate marketers an end-to-end marketing and sales solution.
Juwai IQI Co-Founder and Group CEO Kashif Ansari said, "We have always been a technology-first company, and it has now been a decade since we began aggressive investment in digital systems. When Covid emerged, our technology platform, Atlas, already included such capabilities as virtual tours, virtual meetings and digital presentations. That enabled us to keep serving the market in otherwise difficult conditions.
“I am excited to see that we have gained market share globally. Malaysia, Canada, Vietnam and Australia are leading the charge.”.
"Juwai IQI engages approximately 12.9 million users each month, and our agent network is truly globe-spanning, operating in 20 countries, either directly or through affiliates or associates.
"Our diversified global agent network has been a real advantage during the pandemic. Markets worldwide have been alternately stimulated enabling us to balance some locations with more rapid growth in others.
Juwai IQI Group Managing Director Daniel Ho said, "I want to congratulate the entire team of staff and agents around the world for their excellent performance in difficult circumstances.
"Digital real estate has remained resilient during the pandemic. In the post-pandemic period, we foresee a robust market in which buyers will continue to take advantage of relatively inexpensive financing, act on postponed transactions, and benefit from strong economic and employment growth.
"Persistent financial and monetary stimulus, high economic growth, and an increased post-pandemic appetite for risk-taking will provide further upward pressure on home prices.”