Okay to sell real estate online

A new business model based on online operation has made it possible for a small real estate agency to more than triple year-on-year revenue in the first quarter of the year, South China Morning Post reports. As an online property agency, Okay is able to save money on rental expenses and consequently offer higher commissions to its staff, even in a time when the market is cooling. “We run the firm differently. We use technology to change the cost structure of what it means to be an agency,” Okay Chief Executive Joshua Han Miller told South China Morning Post. Okay shares the office with real estate Asia Pacific Properties but has no other retail outlets. In order for clients to communicate with its agents, the company offers the latter tablet computers. “It’s a more efficient way to cut costs. We don’t need attractive retail stores to attract customers,” Miller claims. The Chief Executive Officer of Okay also conceded that by saving money from rentals it can be invested in attracting better agents as their commissions start at 50 percent. In 2013, the Hong Kong-based company achieved a 120 percent growth in comparison to the year before.