AssetOwl signs first Victorian customer to rebranded Pirsee property inspection platform

AssetOwl ASX AO1 Victoria Pirsee real estate east coast property rent inspection
AssetOwl’s new agreement with a Victorian real estate agency marks the start of its east coast expansion.

Enterprise property management technology provider AssetOwl (ASX: AO1) has signed up its first Victorian customer to its newly branded property inspection platform, Pirsee.

Last month, the company announced the rebranding of its flagship inspector360 software-as-a-service (SaaS) platform, which utilises virtual technology to create an internal view of residential properties.

Pirsee, derived from the words ‘property inspection report” and the verb “see”, was initially launched in Western Australia with the plan being to expand into Victoria and other east coast markets.

This new signing heralds the company’s entry into Victoria and the start of its east coast expansion.

AssetOwl chief executive officer Geoff Goldsmith described it as a “hugely significant” milestone for the company with Victoria having the second largest rental market in the country.

“Pirsee is perfectly placed as the only software that can help property managers and their clients to carry out fully remote routine inspections in a safe, compliant and efficient fashion,” he said.

Remote inspection capability addresses COVID-19 challenges

AssetOwl’s agreement with the undisclosed real estate agency is subject to trial use, which is expected to take longer to complete than normal due to the current COVID-19 restrictions in Victoria.

AssetOwl worked with the real estate industry in Victoria last year when it was first confronted with the challenges of COVID-19. It had a nine-month partnership with Real Estate Institute of Victoria (REIV) to assist in providing real estate agents with remote routine inspection and virtual tour for sale capabilities through its original inspector360 platform.

“While these challenging times mean that our remote inspection capability has received considerable attention, in the longer term we expect to see Pirsee winning market share due to its full suite of market-leading features and functionality,” Mr Goldsmith said.

Residential property inspections in Australia are highly regulated at the state level. According to the Australian Bureau of Statistics, about 645,000 Victorian households rent privately, almost three times more than Western Australia.

AssetOwl said initial talks with Victorian agencies have been “very positive” with particular interest in Pirsee’s remote inspection feature.

“To the company’s knowledge, Pirsee is the only product available on-market today which allows property managers to direct inspections remotely through a video call, while also being able to capture high resolution photos and review them in real time,” it stated.

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