AssetOwl’s (ASX: AO1) roll-out of its property inspection platform Pirsee has begun to pick up speed with the company revealing it now has 25 licenced real estate clients using the technology.
This has resulted in 11 new real estate agencies signing up in the last two months alone.
The company noted the 25 licenced real estate agencies using its Pirsee platform had a combined 9,000 properties under their management.
This represents about 6% of all professionally managed properties in WA.
Two of the new agency sign ups were from Victoria – marking the company’s plans to penetrate the national market.
AssetOwl chief executive officer Geoff Goldsmith said the company had seen a “very pleasing” acceleration in the uptake of its Pirsee platform.
He said it has been since it rolled out the new exit workflow feature.
“The increase in new signings demonstrates considerable progress in the company’s sales efforts.”
“The new licences also reflect growing market acceptance of our platform’s industry-leading functionality as well as a growing awareness of the new Pirsee brand.”
Mr Goldsmith added the number of customers moving from a trial to a paid licence was also increasing.
“The acceleration of the transition of customers through trials has commenced, and building upon this momentum will be a key focus for management over the next quarter.”
Real estate inspection providers
In addition to the real estate agencies, AssetOwl has also signed three Perth-based real estate inspection providers to Pirsee.
AssetOwl noted outsourced inspection companies are “an important feature” of Perth’s real estate market due to a “significant number” of agencies outsourcing entry inspections to these businesses.
Although inspection companies will typically use the real estate agent’s inspection platform, these companies can also “heavily influence” the choice of inspection tool.
As a result, AssetOwl has received a number of referrals from these companies.
Pirsee property inspection platform
AssetOwl’s Pirsee property inspection platform is offered as a software as a service product and provides a complete photographic record of a property’s condition throughout a tenancy.
The company says its platform “significant pain-point” for the real estate sector with current real estate inspection processes time consuming and less accurate and ripe for disputes.
AssetOwl estimates Pirsee cuts the property inspection process time by 75%.
It generates a comprehensive and photocentric report, while an owner’s portal allows landlords to monitor the condition of their property in real time.