AssetOwl expands to capture 10% of WA’s property management market
AssetOwl has now licenced 37 real estate agencies on its Pirsee property inspection platform.
Enterprise property management platform provider AssetOwl (ASX: AO1) has expanded its Western Australian client base to house a collective 14,000 properties, representing 10% of the state’s professionally-managed market.
After setting a monthly record for the number of new trial customers signed up in November, the company now has licenced 37 real estate agencies on its Pirsee property inspection platform.
Formerly known as ‘inspector360’, Pirsee is the next generation of AssetOwl’s photo-centric inspection management platform designed to benefit property owners, tenants, agents and managers.
It incorporates 360-degree imagery, video, voice-to-text and hot-spot mapping of floor plans to accurately document property condition reports and boost the efficiency of the inspection process.
Available as a mobile and tablet app, Pirsee offers improved report quality and enhanced data security, to potentially minimise the risk of bond disputes between stakeholders.
AssetOwl’s recent signings to the Pirsee platform comprise a mix of customers including boutique agencies, franchisees of leading real estate agent brands and a rent-roll aggregator.
Client bases range in size from 100 to over 1,000 properties under management.
Delivering value
AssetOwl chief executive officer Geoff Goldsmith said the broad range of customer types demonstrates the company’s ability to deliver value across a spectrum of real estate agencies.
“Pirsee is clearly gaining traction, with our customers managing a meaningful share of professionally-managed properties throughout Western Australia,” he said.
“We have effectively grown from zero to capture nearly 10% of this market in under 10 months and the range of customers demonstrates our ability to provide value across a range of real estate agencies.”
Product development
Mr Goldsmith said product development will underpin AssetOwl’s efforts to disrupt the inspection industry, and acquire and maintain a sustainable competitive advantage.
The company released a number of significant new features to the platform during the year, the first of which was a “smart condition report” which promotes a paperless, legally-compliant, digital inspection at the start of a rental agreement.
Another addition known as “remote routine inspections” was developed in response to the challenges faced by the industry due to COVID-19 lockdowns and is the only tool on the market which enables property managers to control and guide a live video call and gather high-quality images through the tenant’s phone camera without visiting the property.
The introduction of the “owner’s portal” allows real estate agents to provide landlords with interior views of their property through a virtual tour created during an inspection, enabling the parties to discuss property conditions and ongoing maintenance needs.
AssetOwl also completed the integration of insta360 X1 and X2 cameras alongside the current Ricoh Theta camera to provide an added competitively-priced option on Pirsee with the advantage of delivering high-resolution panoramas for entry inspection reports.