AssetOwl continues ‘strong sales progress’ of Pirsee property inspection platform

AssetOwl strong sales progress Pirsee property inspection platform ASX AO1 real estate
AssetOwl currently has 40 real estate agencies licenced to its Pirsee platform.

AssetOwl (ASX: AO1) has continued to make “strong sales progress” as it rolls out its Pirsee cloud-based real estate property inspection platform across Australia.

By the end of the December quarter, AssetOwl had signed 40 real estate agencies to its platform.

In Western Australia, the company had 38 agencies licenced to Pirsee – representing about 17,440 of the state’s properties under management and about 11% of WA’s professionally managed real estate market.

AssetOwl says it is clear the company is gaining traction in the WA market.

The other two real estate agencies signed to the platform are in Victoria.

Harris Real Estate

AssetOwl followed up its WA performance by revealing last month it had signed a leading South Australian agency to trial Pirsee.

South Australian agency Harris Real Estate is trialling Pirsee and is working with AssetOwl to expedite development of a state-compliant version of the technology.

According to AssetOwl, Harris manages about 3,000 properties – accounting for about 2% of all professional managed properties in South Australia.

Upgrades and expansion plans

In parallel to developing a South Australian-compliant version of Pirsee, AssetOwl is also working on versions of the platform for New South Wales and Queensland markets.

The company is also developing new features and upgrades that are designed to boost the platform’s functionality.

This includes integrating trust accounting platform Property Tree into Pirsee. Other refinements include upgrading the Pirsee platform infrastructure to improve efficiency of its data migration and overall speed.

In the current quarter, AssetOwl will remain focused on rolling-out Pirsee in WA. Recent marketing activity to gather momentum in WA included a presentation to Ray White property managers’ conference.

Ray White is one of WA’s largest real estate franchises with more than 40 offices across the state.

AssetOwl said its presentation to Ray White provided exposure to the influential franchise and will potentially lead to a number of new clients.

Once the impact of Omicron stabilises on the east coast, AssetOwl plans to continue its Pirsee roll-out in Victoria and launch in Queensland and NSW.

To fund its expansion, AssetOwl is undertaking a $2.26 million capital raising.

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