A week manning the reception desk to cover Covid staff shortages led FLK IT OVER CEO and Founder Andrew Colagiuri to create a new system for property keys, which he believes is a game changer for property managers.  

“During Covid when lockdown was introduced for select Sydney suburbs eleven of my fourteen staff were affected, so I chose to man the reception desk and experienced first hand how outdated the check in and out system for property keys is,” says Mr Colagiuri. 

“Like most businesses at the time, there was no option but to roll up the sleeves and do whatever was needed to keep the business going, this meant spending some time on reception,” said Mr Colagiuri. 

“After some research we found most offices still using a checkout book, or excel spreadsheet so there was definitely an appetite for an updated system that not only tracks keys, but works seamlessly and delivers a great experience for their trades who often hold keys and return when they are back in the area,  not knowing the urgency .” 

Trades are busy, and on the road a lot so writing messages or answering their phone can be tough which leads to a lot of unnecessary back and forth, but with our smart sms conversations it’s so quick and efficient for them to keep the agent informed and updated.”

“FLK A KEY is an extension of the e-document signing tool FLK IT OVER, that enables keys to be logged and photographed in the platform and an overdue section enables managers to quickly see what keys need to be followed up.” 

“When keys are overdue a text message is sent to any trades or tenants to notify them their keys need to be handed back, FLK A KEY has an automated conversation on the agent’s behalf via sms. It then emails this conversation to the agent. It’s all about using technology to deliver efficiencies .” 

“It enables those with the overdue keys the ability to respond with the touch of a button explaining the delay or date of intention for returning the keys.”

“This puts an end to chasing the return of keys with endless phone calls and the technology makes it very simple to see who needs reminding to return the keys.”

“Chasing 10 outstanding keys can take upto 30min of phone calls and back and forth, now they can let FLK A KEY do that for them and move on to dollar productive activities.”

“When keys go missing, it costs time and money (and sometimes the client) so we want to make sure we remove all three issues for agencies.” 

“If the agency has 300 rental properties and uses this technology rather than manually updating the traditional spreadsheets and endless phone calls they usually have 20-30 keys out at any time so the time save nature is massive, plus it’s a great customer service experience.” 

“If agencies want to increase profits they will need property managers to manage more properties and the only way they can do this is through improving efficiencies by using the latest technology.” 

“Since its launch four years ago over 500 real estate agencies are actively using FLK IT OVER, including ASX listed McGrath Estate Agents, translating to 100 percent year on year growth with six figures a month in recurring revenue.” 

“Over 4,500 active property managers are logging in every month to use the system with around 13,000 real estate documents a month.”

“FLK A KEY is available now for property managers to use in conjunction with the FLK IT OVER software.”

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Homely.com.au, the largest industry-backed real estate marketplace in Australia, announced its new partnership with National Property Group, which includes a deep integration of the National Property Data offering.

Led by Homely’s Head of Product Luke Kenyon and Head of Industry David Webb, the integration will deliver more accurate home values, average values, sold prices and help customers and consumers make better informed decisions about properties.

“The integration with National Property Group complements our much-loved unique suburb review content, giving consumers all the tools they need to find their home on Homely,” says Luke Kenyon. “Strategic partnerships drive 10x growth in companies like Homely. Having worked on similar strategic partnerships, I couldn’t be more excited about this. The National Property Group partnership is a natural next step for Homely as we look to disrupt the industry.”

National Property Group brings more than 40 years of historic and current market data to the partnership. Established in 2020, after acquiring one of NSW’s leading property data platforms, National Property Group works with some of the industry’s most influential leaders and technology experts, and is committed to a more collaborative approach to property technology.

“Partnerships like this one with Homely, enable us to continue to break down silos in the property technology industry, and empower both consumers and property professionals to get the data and information they need, then take action, without the complexity of many different platforms,” says Don Harb, Chief Operating Officer at National Property Group. “Through our increasingly expansive data set and integrations, we empower people to do more with data, as quickly, simply and confidently as possible.”

Consumers using Homely will benefit from the latest comprehensive property data, including recent sales, automated valuation models (AVMs), government and demographic data and other valuable data points to help with accurate, real-time estimates for residential property prices.

Agents will benefit from Homely and National Property Group’s data enrichment products to support accurate property estimates and more compelling listing conversations. This data will be bundled into Homely’s Homely Plus membership program, providing more value to agent partners.

“National Property Group offers great data for real estate professionals to find information they need for better listing presentations,” says David Webb, Head of Industry at Homely.

Homely Co-Founder and Co-Chief Executive Officer Adam Spencer says, “The strategic partnership between National Property Group and Homely marks a major milestone in our ambitious growth trajectory. As well as accelerating our data strategy, the partnership allows us to provide even more value  to consumers looking to Homely to help them make better informed property decisions.

“We’re delighted to partner with a business that shares not only our ambitions but also our corporate values in delivering the best experiences possible for consumers and agents in the industry.”

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Global PropTech leader MRI Software today announces its acquisition of LeaseEagle, an Australian-based leader in commercial property lease management solutions for tenants in corporate, retail, healthcare and other sectors. Founded in 2005, LeaseEagle’s software is used by clients to manage over 50,000 locations across Australia, New Zealand and South Africa.

The solution meets a timely need as COVID-19 rent relief amendments made to International Financial Reporting Standard IFRS-16 in 2020 may still be relevant to pandemic-affected commercial tenants in 2022. As well as ensuring complex accounting standard compliance, LeaseEagle’s advanced cloud-based software reduces the risk of missing critical lease dates and makes detailed occupancy analysis across multiple real estate assets simple. It also provides data-driven reporting for better decision making, saves time and improves accuracy with automated invoicing to significantly increase business process efficiency.

MRI Software managing director and senior vice president (Asia Pacific), David Bowie, says adding LeaseEagle to MRI’s existing suite of integrated workplace management systems (IWMS) and unique AI-based lease abstraction and intelligence solutions is “timely and strategic.”

“Commercial property deals in 2021 were nearly double the value of 2020 investments amid the most extensive rewrite of property leases in history. That mix of fast growth and complex change represents very high risk, and I believe this acquisition gives MRI the right solutions and expertise to help clients measurably reduce that risk.”

Mr. Bowie explains, “Very few tenants retained a simple monthly rental profile over the last 18 months. Many faced variable credits, floating deferments and conditional termination rights, all of which heighten the risk of manual error that can cost organisations dearly – in some cases, as much as hundreds of thousands of dollars.

“For large tenants, the complexity and burden for compliance and accuracy with data-intensive lease accounting standards is significant. LeaseEagle provides those organisations with the ability to centralise all lease and franchise information, gain real-time reporting and integrate process automation, and we’re thrilled to welcome them to the MRI family,” Mr. Bowie says.

Lee Trevena, chief executive officer and founder of LeaseEagle, adds, “I had each one of our 185+ clients in mind when considering this transaction. Well-loved brands rely on LeaseEagle as a single source of truth for multi-site lease management, and MRI’s history of cultivating a client-centric culture and bringing in the right talent to deliver the best value to their customers makes this the perfect fit. I look forward to the LeaseEagle team adding to that legacy.

“My strong belief is that joining the global MRI family provides LeaseEagle customers the best of both worlds by giving them access to some of the world’s best real estate expertise, innovation, client service and support resources while maintaining everything they know and love about LeaseEagle,” Mr. Trevena says.

COVID-19 impacts IFRS-16/AASB-16/NZ IFRS-16 standard compliance

The International Financial Reporting Standards (IFRS), the Australian Accounting Standards Board (AASB) and the New Zealand Accounting Standards Board (NZASB) mandated full compliance from 1 January 2019 with new lease accounting standards known as IFRS-16 globally and AASB-16 and NZ-IFRS-16 in Australia and New Zealand, respectively. Since then, far more complex lease reporting data is required across entire lease and option periods, and COVID-19 rent relief amendments first made in 2020 may continue to apply into 2022 for pandemic-affected commercial tenants.

For those companies impacted, non-compliance is simply not an option. LeaseEagle ensures clients have the reporting, analysis and data management needed to effectively maintain compliance while balancing their already demanding workload managing commercial tenants with multiple sites during such historically significant and disrupted times.

LeaseEagle is the fifth acquisition by MRI Software of PropTech innovators in Australia and New Zealand in the last few years. The four other recent Asia Pacific acquisitions are Box+Dice, Palace and WhosOnLocation in 2021, and Rockend in August 2019.

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COVID has forced every industry to embrace new technologies, to cope with the challenges of the pandemic. Learning how to remain productive while away from the office has plenty of lessons for the property industry when it comes to moving with the times. Those who remain stuck in their ways risk being pushed aside.

For starters, technology like Sorted Services is the key to streamlining workflows, in order to save both time and money for property professionals. For example, automation can handle about half of the tasks that occupy an agent’s time and mental energy – such as providing a seamless tenant onboarding process, complete with reference checking and leasing handovers.

Beyond this, the technology can assist agents with better-managing clients, as well as liaising between renters and owners. This includes facilitating and negotiating lease renewals, organising repairs or maintenance, and replying to client and tenant inquiries.

The idea isn’t to downplay the value of agents or put them out of a job, in fact it’s the very opposite.

Automation frees agents from mundane repetitive tasks, so they can put that time and effort into more important things – just like Excel freed accountants from adding up columns of numbers, so they could evolve into trusted business advisors.

For agents, automation lets them spend more time on those important tasks which require the human touch, like building the business, strengthening relationships and delivering excellent customer service. 

It works both ways, as today’s customers have rapidly changing needs and increased demands. They expect seamless digital interaction with service providers, it’s not negotiable.

Digitising and automating cumbersome manual paperwork and processes is a real-gamer changer in the property industry – increasing productivity, reducing operational costs and enhancing the overall customer experience. Yet, this kind of efficiency boost is still only the low-hanging fruit when it comes to the full potential of property technology.

Looking to the future, agents need to evolve to become more than just facilitators, just like accountants became more than human calculators. A great agent needs to convey knowledge and expertise. In order words, they need to bring value to the table and make themselves an invaluable part of the process.

The property industry has access to a wealth of data. It can seem overwhelming but, with the right tools, all that data can be turned into actionable insight. Advanced analytics strategies let agents get on the front foot, crunching the numbers to help them find the precious needle in a haystack of information.  

For example, the technology can optimise a range of processes such as tenant attraction and churn, commercial lease negotiations and asset valuation. It can also improve tenant experience and operations. They’re all classic examples of agents learning how to work smarter through technology, rather than simply working harder.

Beyond advanced number crunching, new technology brings the next generation of augmented and virtual reality, to assist agents with providing personalised service. It further blurs the boundaries between the physical and digital worlds when it comes to engaging with clients on their own terms, anywhere, anytime.

Meanwhile, when it comes to dealing with the physical world, smart building solutions can streamline property management to unlock efficiencies and create new opportunities.

COVID might have jolted the industry from its technological slumber, but it’s only the beginning when it comes to revitalising Australia’s property industry and embracing the future.

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Australian property management company, :Different, today announced it has raised $25 million in a Series B round as it sets sights on expanding nationally, and building its team of property managers and technology platform to continue looking after homes and the people who live in them. The raise was led by Commonwealth Bank venture-scaling entity, x15ventures, and Antler, and will also see CBA and :Different form a strategic partnership to collaborate on exclusive offers and benefits to reach homeowners across the country. 

:Different was founded by ex-Silicon Valley executives, Mina Radhakrishnan and Ruwin Perera in 2017 and has grown quickly to reimagine the property management experience through people and technology. It has doubled the team in the last year alone, and now services properties across Australia’s eastern seaboard, with thousands of owners, tenants and properties under management.

The partnership with CBA will help :Different reach its 15 million customer base, with :Different soon being accessible across various CBA channels including the CommBank app to support property investors with guidance throughout the entire home buying journey.

Commenting on the raise and partnership, co-founder Mina Radhakrishnan said: “We started :Different because we had heard all too many horror stories of property owners and renters having a subpar experience with their property managers. Little communication and transparency into the important things that can make a real difference to the overall living and ownership experience. We knew things had to change, and with people who care, and powerful technology, we could create a better experience for our property owners, their properties and the people who live in them.”  

“Our ultimate mission is to be the all-encompassing assistant to the home, and this latest raise and our partnership with CBA, brings us another step closer to reaching this goal and helping even more Aussies.”

Co-founder Ruwin Perera also commented on the raise and partnership: “Partnering with CBA presents a momentous opportunity for not only :Different as a company but for Aussies right around the country. The new alliance will see us tap into CBA’s 15 million strong customer base to offer them a better approach to home ownership.” 

“Finance and homes are inextricably linked. We are a trusted partner in the home, and with CBA at our side, we will deliver value through reimagined products and services as the basis of a home platform, designed to service the needs of homes and the people who live in them.”

“We are thrilled to have x15ventures and Antler backing us. Antler’s international presence will give us the reach to take :Different to other markets around the world. Both partners have a vision to disrupt the status quo to solve real world problems in unique ways, which is at the very core of why we started :Different, and makes them a perfect pairing for us.”

“We’re looking forward to what this new chapter brings for us and our team, as well as the millions of Australians who own or rent homes.” 

x15ventures Managing Director, Toby Norton-Smith, said: “We’re excited to welcome :Different into the x15ventures family. This investment and strategic partnership continues our commitment to bring differentiated products and services to CommBank’s customers. Our ventures are now improving the digital customer experience throughout the home buying journey.”

“Working closely with exceptional founders like Mina and Ruwin and global industry heavyweights like Antler, is a privilege. This exposure and immersion with the broader startup community is key to x15ventures’ strategy to build, buy and invest in digital businesses that will reshape banking as we know it,” he said.

“We are proud to support :Different as they continue their momentum as Australia’s fastest-growing property manager. In :Different, we see a world-class team, building a customer-centric platform for the home in one of the most exciting emerging tech ecosystems globally and beyond,” adds Teddy Himler, Antler Partner.

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Launching a real estate technology company ensures that you are operating in a market that is sufficiently large, fragmented, and ripe for disruption to give you every chance of success. There are abundant opportunities.

And if you are not looking to found a company but to work in one, then I suggest you consider choosing a proptech for your next employer.

Show Me the Money

Property is the world’s largest economic sector. This is where the money is. 

The sums are enormous. Australian residential real estate is worth $8.9 trillion, according to CoreLogic nearly one-quarter more than just four years ago. Real estate is worth more than three times the value of all Australian listed stocks.

It’s not just the size of the asset class. It’s also the fact that more than $400 billion of housing transacts each year. As every real estate agent knows, where there is a transaction, there are also potential commissions and related expenditures.

With this knowledge, we can see why the real estate sector looks like a rich opportunity to many technology startups. That also explains why established proptech companies the REA Group and Domain are each worth billions.

Ripe For Disruption

If you were a would-be company founder, you might worry that the successful proptech companies already operating represent an insurmountable obstacle to your new business. 

In reality, the opposite is true. The real estate industry is in fact both fragmented and ripe for innovation.

How can this be? 

For one thing, the market is so large and geographically diverse that it is very difficult for any single company to dominate. 

Virtual and 3D tours are a good example. At least a dozen companies offer these services. Matterport may be the best-funded, but it is a long way from running the table. Rather than a single dominant company, there is a profusion of brands and offerings that serve different market segments or parts of the country.

Another reason there is still so much opportunity for new proptech companies is that the pace of technological innovation in real estate has been relatively slow. Good real estate agents can make decent money with just a mobile phone and an Instagram account.

In the past two decades of massive disruption, tech startups targeted industries where margins were larger than in real estate. Meanwhile, property largely passed under the radar. This state of affairs is now changing. 

The COVID pandemic made technology central to the industry.  As has often been said, the pandemic forced 10 years of innovation into just six months. As a result, more than four out of five Australian real estate companies are investing in improving or acquiring technology in 2021, according to new research from the Property Council.

The real estate industry is seeking change. Why shouldn’t you be the one to bring it?

How to decide where to focus

Because real estate is multifaceted and immense, there is a surplus of opportunity for the clever entrepreneur. To narrow your focus, you may find it useful to categorize the world of proptech into four conceptual categories: 

• Investing: enabling investors to evaluate opportunities more effectively
• Building: facilitating construction management
• Managing: tools for real estate agents, buyers and renters, or property managers
• Living: facility management or home IoT solutions such as security or energy management

There are innumerable opportunities in each of these categories where you can make your mark. 

Over the past two decades, more than half of all global proptech investment has gone to property listings portals and similar businesses, which fall into the “Managing” category mentioned above.

With so much attention focused on a single sub-sector of proptech, there is a tremendous need for investment and innovation across nearly every other area.

The opportunities in proptech are practically endless. I encourage you to pursue them.

The post Why your next company should be a proptech appeared first on PropTechNOW.

In the last two decades, technology has changed the world so much that it can appear unrecognisable. 

Industries which were once thought untouchable have folded, while others have been forced to adapt or die. And, as the real estate sector has been gradually finding out (and which the pandemic has accelerated) technological innovation can be far more helpful than harmful if used, and embraced, appropriately.

Improved efficiency  

While once real estate agents relied on manual handling in pretty much all aspects of their job, technology has made it possible for much of their work to be automated and digitised.

One advantage of adopting a technology platform such as Sorted Services, which is especially designed for the real estate sector, is that it’s able to take care of 50 per cent of the tasks that occupy an agent’s time and mental energy. 

Proptechs now offer a seamless tenant onboarding process, not only reducing costs in operational support, but also enhancing the overall customer experience.

Reference checking, communications and leasing handovers, which used to take hours of agents’ time and emotional energy, can now be largely automated, redirecting agents’ time to more pleasant and interesting tasks, such as thinking of ways to meet clients’ emotional needs or expanding the business further.

The internet also provides real estate agent businesses with far more targeted reach than traditional newspapers. Agents used to spend small fortunes running classified ads in newspapers, while now far more sophisticated Google and ad targeting can get much better results at a fraction of the cost. 

If technology could help take the pressure off of marketing costs, application and reference checks, agents could spend more time providing customers with the assurance that they’re being listened to and that their issues are being addressed in a timely and sensitive manner. 

Easier for consumers means more business for Real Estate Australia

Technology (and various proptechs) in the past 15 years has fundamentally changed how consumers search for homes. 

Consumers are going online to look for information to support their buying and renting decisions, with surveys demonstrating that more than 90 per cent start their new home journey online. 

People also watch “how-to” videos on YouTube, read review sites, look up specific brands on search engines and already have an idea of what they want before an agent even enters the picture. 

As a result, agents no longer have to take each client to see new properties for the first time, freeing them up to deliver better client service by going above and beyond what is expected. 

The fact that consumers also search online more means that portals such as Domain or Realestate.com.au can gather valuable data into consumer renting and buying behaviour, making it easier for agents to advertise appropriately to different segments of society.

For instance, we know that in Australia, national buyer demand fluctuates wildly across the states, with New South Wales and Victoria seeing high activity while smaller states such as the Northern Territory and Western Australia commanding less, and different, types of attention. 

It’s difficult to see just how much the various proptechs, enabled by the internet, have changed the way real estate functions. While what we’ve included above may not seem so revolutionary now, literally life-changing platforms such as Facebook, Instagram, YouTube, cloud services or touch screens didn’t even exist 16 years ago, let alone were being used routinely in most industries and by most people. 

Who’s to say what will happen in the next 16?

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Leading service providers in the conveyancing market, Smokeball and triSearch, have partnered to create a compelling premium practice management system, triConvey, for licensed Australian Conveyancing businesses.

For the first time, conveyancers will have access to an integrated software and search system at a favourable overall price point to the business. triConvey clients will have a modern tech solution focused exclusively on their needs. The solution is powered by Smokeball’s best in class practice management software and triSearch’s integrated search platform, all supported by one unified team.

triSearch CEO, Taylah Allen, explained the partnership was established from understanding the importance of integration between software and search in the conveyancing market. 

“This partnership is a huge win for the Licensed Conveyancing industry that for many years has desired a tailored solution at an affordable price. triConvey delivers them just that, industry leading practice management software, integrated with their searches, and with one dedicated support team,” Allen said.

Smokeball CEO, Hunter Steele, added that the creation of triConvey supports the company’s small law growth strategy. 

“We want our licensed conveyancers to have the best specialist expertise, and this partnership creates a whole sector focus for them. Our rapid growth across the small law sector doesn’t allow for that, so we are delighted to create a business that gives them this hyper focused approach,” Steele said.

“If you are a licensed conveyancer, triConvey is the product for you. If you are a law firm that provides conveyancing services among other services, Smokeball continues to be the product of choice in the Australian market.”

To ensure success for its clients, triConvey addresses the pain-point of support, which historically would see the client contact differing HelpDesk teams for search and software. However, with triConvey there is one support team that covers all technical enquiries for both solutions.  

More information about triConvey for Licensed Conveyancers can be found via the website at www.trisearch.com.au/triConvey. For law firms interested in Smokeball , more information can be obtained via the website at www.smokeball.com.au.

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ListingLoop.com.au, a first-of-its-kind real estate marketplace for pre-market and off-market properties, recently closed a $3 million funding round that will enable the company to accelerate its existing strong growth trajectory.

The company, which launched in 2019 and was founded by proptech entrepreneur Rhett Dallwitz and real estate director and strategist Andrew Meehan, gives property buyers quick and easy access to pre-market and off-market real estate – properties that are not typically advertised through mainstream channels and those which property buyers may not otherwise know are for sale.

The raise was led by Michael Locaso from investment and advisory firm LP7, who co-invested in the round and has since become Listing Loop’s Chief Operating Officer.

Business and property entrepreneur Michelle Catelan is the lead investor, hailing from the founding family of RP Data, Australia’s leading property data, information and analytics provider (now CoreLogic). Michelle joins Rhett Dallwitz, Andrew Meehan and Michael Locaso on the Listing Loop board.

A consortium led by specialist property developers Resi Ventures, as well as technology investor Allectus Capital, participated in the funding round joining the likes of other existing sophisticated and professional investors including NBA and NBL legend Andrew Bogut.

Co-founder and Chief Executive Officer, Rhett Dallwitz said “we are extremely proud and excited to welcome these industry heavy hitters as investors in ListingLoop.com.au. Each investor is as committed as we are to innovation and shaking up how real estate advertising is done in Australia”.

“This raise will accelerate our rapid growth and expansion across Australia while continually building out our technology and AI features. From day one we’ve adopted an agile approach that allows us to cater to the needs of independent and franchisee real estate agencies, through to the growing demand from corporate real estate franchisor groups around the country,” Dallwitz said.

In this housing market boom ListingLoop.com.au is giving buyers the upper hand, especially

those who are serious about finding their next home and are tired of missing out. Buyers are notified in real time the moment a new property hits the market allowing them to get in first before the masses.

Listing Loop’s smart tech is giving agents a competitive advantage to win new listings and sell properties faster. Sellers realise that great prices can be achieved with off-market sales and without having to pay expensive advertising fees upfront.

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Reapit, backed by private equity firm Accel-KKR (AKKR), today announced that they have completed the acquisition of Agentpoint PTY Limited, the largest provider of real estate agency websites and lead generation technology in Australia. 

Agentpoint was founded in 2001 and is a leading industry supplier of estate agency websites and lead generation technology for real estate professionals, offices, large network groups and start-ups. Over the past 10 years they have serviced more than 23,000 agents, built nearly 2,000 websites for Australian real estate professionals and in 2019 alone helped estate agents create more than 11,000 digital proposals using their ProposalPoint solution.  

The company has continued to invest heavily in product development over recent years, extending their digital marketing product range to include powerful tech that drives, captures, tracks, and converts leads with the agents’ CRM and website at their core. 

Meschell Howarth, General Manager at Upstate Property Group, a client of Agentpoint, commented: “Using Agentpoint created significant efficiencies for us. Their knowledge of the real estate industry and all the add-ons that they offered as part of their product suite helped us to not only create a website that is a perfect for our agency, but also shaved months off the project had we decided to work with a website company that had to be brought up to speed first.” 

Reapit provides market-leading software solutions to over 33,000 users in 4,500 offices and manages more than 200,000 tenancies across the UK and Australia. The company continues to gain a strong foothold in the Australia and New Zealand market, which started with the acquisition of Agentbox in 2018. The addition of Agentpoint into Reapit’s product portfolio will provide Reapit customers access to an even wider choice of world-class solutions, giving them the competitive edge in a fast-evolving market. 

Mark Armstrong, CEO, Reapit, stated, “I am delighted to confirm that the acquisition of Agentpoint is complete. Integrating their outstanding product portfolio with our current market-leading offer greatly facilitates our mission to provide estate agencies in the UK and Australia with the most comprehensive and innovative range of PropTech solutions, all under one roof.

“The property market is currently going though unprecedented change and the residential estate agency market is therefore adjusting at pace to the new demands. As a trusted PropTech partner, we have a duty of care to our customers, present and future, to deliver best-in-class solutions that will see them through these times, thriving and growing. Acquiring Agentpoint reaffirms our commitment to estate agents that we will never stop delivering leading solutions that match the effort they put into growing their agencies.”

Ryan O’Grady, CEO, Agentpoint, added, “All of us at Agentpoint are incredibly proud of the services we’ve been able to provide for our customers in the 19 years since the company’s formation. We now look forward to extending our award-winning product range to Reapit’s international customer base.”

Park Durrett, Managing Director of Accel-KKR and a member of Reapit’s board of directors commented, “We are pleased to support Reapit with their acquisition of Agentpoint. The addition of Agentpoint into Reapit’s product portfolio further illustrates their position as a market leader in the UK and Australia, providing estate agencies with an enhanced suite of solutions to facilitate their strategic goals.”

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