12 November 2024 – Singapore – HomePay and ERA Realty Network took a major step forward in transforming Singapore’s renovation industry, officially sealing their partnership at the Q4’24 Leaders and Achievers Awards Conference. With the signing of the MOU, HomePay and ERA are kicking off an initiative to support homeowners and empower ERA agents that connect clients to trusted, MAS-compliant interior designers using HomePay’s secure escrow payment solution.
For Singaporean homeowners, renovations often come with risks. It’s an industry that consistently ranks as one of the top three in complaints, with stories of delayed projects, vanishing contractors, and even irrecoverable financial losses. Over 1,454 complaints have been filed recently against renovation contractors (CASE, 2023), painting a picture of an industry in dire need of reliable solutions.
HomePay’s presentation honed in on these challenges, with a solution to homeowners: “With our escrow payment system and HomeProtect, we allow homeowners to go through renovation with a peace of mind.”
This partnership isn’t just about benefiting homeowners—ERA agents play a key role too. ERA agents can now connect clients with HomePay’s vetted, MAS-compliant interior design firms, giving them confidence that clients are getting high-quality service. In an industry where renovation delays and quality issues can hurt an agent’s reputation, this partnership offers a new level of assurance.
For ERA agents, HomePay’s escrow payment system is a game-changer. Gone are the days of dealing with renovation scams and worrying about the reliability of ID firms. With hundreds of vetted firms accepting escrow payment and thousands of interior designers carrying out their deliverables accordingly, HomePay enables agents to help protect their clients’ renovation funds and ensure project accountability, strengthening their client relationships and reinforcing their role as trusted advisors.
As part of the presentation, HomePay teamed up with Repair.sg, Singapore’s leading handyman platform and a hub for repair and handyman services. This partnership adds value for homeowners and agents alike, offering clients access to reliable repair services and creating an additional layer of trust in the renovation process. Through Repair.sg, homeowners have a one-stop solution for ongoing maintenance, while agents can offer even more value to clients, enhancing their reputation and expanding service offerings beyond the initial renovation.
HomePay hosted a booth at the event to connect directly with ERA agents, sharing insights about the partnership and explaining how their service works to protect clients' renovation funds.
The MOU signing isn’t just a corporate agreement—it’s a commitment to raise the standard for Singapore’s renovation industry and make every homeowner’s renovation experience smoother, safer, and stress-free. HomePay and ERA’s partnership promises to deliver on this vision, providing a reliable and secure way to handle renovations and laying the groundwork for a more transparent industry.
For ERA agents, this partnership brings valuable benefits for everyone involved. Homeowners and agents now have a revolutionary tool to ensure renovations finish on time, within budget, and with trust fully intact. Speak to an ERA agent to find out about exclusive HomePay promotions and how this partnership can make your renovation journey a smooth and secure one.
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