We have a few real estate auction service platform in Malaysia with strong reputations. But, there’s a rookie in the industry that challenges top players and succeed in just a short period. This is the story of Frankie Goh Chee Keong, founder and CEO of an online property auction platform, BidNow that aims to become the go-to online platform for sale and purchase of auction properties in Malaysia.
BidNow has a mission to change the traditional property auction method in Malaysia
BidNow’s origins date back to 2019 – a relatively new online auction platform. But, it is led by a team that has been in the property industry for quite some time. Frankie, the founder who is also the CEO of the company, has been engaged in the real estate industry selling properties ranging from high-value residential and commercial properties for a decade. He told WargaBiz that he used to go around and posted advertisements on property sales.
“I went from door-to-door distributing flyers. After spending quite some time distributing flyers, I managed to become a registered real estate agent. I sold all types of new and owned properties, including auction real estate and land,” he said.
His hard work paid off when he was awarded top sales estate agent for his outstanding performances. Sixteen years serving in the real estate industry allowed him to be appointed as the COO of ActFast – a renowned auction house. As a stakeholder in ActFast, he utilised his valuable skills to achieve greater heights and contribute to the organisation. The new position helped him discovered the auction industry and property trading.
Frankie’s long time wish to establish BidNow
BidNow.my was established in May 2019 out of his passion for the auction industry. He always dreamed of setting up a one-stop online auction property consulting firm that he can call his.
Frankie is confident to established the online bidding platform as he has foreseen the tremendous potentials for the development of robust auction real estate sales in the near future. As told by Frankie, all these would not happen without help from his mentor – Chris Yong Kin Siong who strongly believes in his idea and shows full support from day one.
“Chris assists me in supervising and drafting strategic planning and implementation of development projects. Given his extensive financial consultation and prospects in real estate investment experience, his insights are valuable and much needed. He even helps in promoting BidNow.”
Criticised but never give up
Talking about the time when they first started BidNow, society’s acceptance was a bit cold. They received some negative responses that underestimate the idea to be a money-burning project. However, they still trust in their instinct and they believe that BidNow will slowly replace the traditional auction market.
“We have to make the first move to change the traditional market.”
One of the largest auction property trading platform in Malaysia
One of Bidnow’s notable achievement is they managed to be one of the largest auction property trading platform in Malaysia in just a short period. For Frankie, he targets to attract more people to make full use of the e-Auction property transaction model through the platform.
With the mission to be the most comprehensive online property platform in Malaysia, BidNow provides a platform for local investors to buy new or existing properties at a relatively low price. Bidders can also buy properties that are auctioned by banks through the platfrom.
“Public can access all auction property listings in Malaysia through our online platform. There are unlimited potentials in the sales market for the auction real estate, be it in the Klang Valley, Johor, Terengganu or anywhere around the country.”
Hunger for more
What makes BidNow unique is it also provides professional consulting services including, legal and accountancy advice for investors in any auction process. With Bidnow’s mission to change the traditional method of auction property in Malaysia, Frankie said he is prepared to liaise with other property portals to foster a win-win situation and fully develop the auction property trading market-based in Malaysia.
Headquartered in Kuala Lumpur with three branches located in Penang, Sabah and Sarawak, BidNow is aspired to become Malaysia’s largest auction property database to provide the e-bidding system to all auction house and bank.
“We are planning to create an ecosystem comprising lawyers, auditors, bankers and bidders. My long term plan for the company is to expand its online presence across SEA and become the No. 1 real estate search engine in the world,” he ended.
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