Sony aims to be the next ‘Zoocasa’

by Jordan Maxwell27 Jul 2015
Sony and Yahoo are teaming up to introduce a new real estate website that will match property buyers and sellers, the announcement coming on the heels of Zoocasa’s controversial relaunch.

Sony has engaged in property management through its new financial division, as well as renovation and consulting services, and expects the new service to complement its existing financing and insurance arm, Kazuo Nishiyama told Bloomberg.

“We can’t be caught in the way we used to do business in the past,” Nishiyama said in recent interview. “Even though this is new to us, it will enable us to pursue profit.”

While the site will launch in Japan, it is expected that Sony will rapidly expand operations to global and North American markets.

Japanese typically buy property for the value of the land, according to industry analysts, and tears down existing buildings to construct new ones because home values in Japan tend to decline over time. The government has introduced policies to encourage construction of longer-lasting buildings and to stimulate the resale and renovation market.

Even as residential investment rose to an accumulated 893.3 trillion yen in 2013, the value of the assets fell to 349.8 trillion yen, land ministry data showed.
 

COMMENTS

  • by Louie Papa 7/27/2015 12:39:51 PM

    This will be a big fail, the Real Estate and Renovation internet offerings are already over crowded. The ones that survive will be the ones that cater to local markets. Consumers always narrow down their service professionals down to their local experts and referrals. I'm pretty sure they will generate a lot of ad revenue though, and that"s what its about for Sony, Yahoo, Yellow pages and Rogers and so on.

  • by Shannon 7/27/2015 12:54:55 PM

    Can't agree more. The buyers and Sellers already have a plethora of means of coming together from eBay of a few years ago and now kijiji yet they majority who realize right away and then most who find out the hard way, real estate is a complicated transaction and requires a professional to manage the time, enrergy and contracts to make sure the deal completes. why are people trying to get around the realtors and generate revenue without us when in the end we broker the lions share of the transactions. If they want in the game they should work with us, not against us.

  • by Bogdan Poprawski 7/27/2015 1:04:14 PM

    Let them try, why not.

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