MRI Software, a global leader in real estate software solutions, announced today that it has completed the $93.4 million acquisition of PropTech Group (ASX:PTG).
The acquisition brings together two innovative companies, who share the common goal of providing the best possible value to real estate agents and agencies.
Thank you to our clients, shareholders, partners and the entire PropTech Group team for helping to make this acquisition possible.
Please stay tuned for more exciting updates as we join forces and continue to work together.
To read the ASX announcement, please click here.
To read the related press release, please click here.
PropTech Group is pleased to announce that our shareholders approved, by the requisite majorities, the scheme of arrangement under which it is proposed that Rockend Technology Pty Ltd, a wholly-owned subsidiary of MRI Software LLC, will acquire 100% of the shares in PropTech Group.
To learn more and read the full ASX announcement, please visit https://investor-hub.proptechgroup.io/4320493
PropTech Group has partnered with National Property Group (“NPG”) and that’s a big win for real estate agents. Here’s why.
Right from within your VaultRE CRM (and soon from within Eagle, too) you’ll be able to access market data from NPG. You won’t have to log into NPG separately. With this deep integration, in just a few clicks you will be able to add market data into vendor proposals, appraisals, pricing strategies, reports, and marketing materials.
This partnership will be so good for agents that it has already been covered in The Property Tribune and Real Estate Business.
Who is National Property Group? The company got established in 2020 after acquiring one of Australia’s leading property data platforms. Then, NPG relaunched its property intelligence platform in 2021 and now delivers instant insights from more than 40 years of historic and current market data.
Click here to learn more about the NPG integration with VaultRE.
Real estate principals in Australia and New Zealand now have a powerful new platform for making their teams more productive, efficient, and profitable.
Through the Learning Hub, real estate teams can access powerful yet affordable training on PropTech Group’s VaultRE and Eagle CRM products and also on the agency marketing platform, Designly and Designly Pro.
Agency principals can obtain consulting via the Learning Hub on how to be as much as 20% more profitable. That is through the PropTech Group’s partnership with Andrew Friebe’s Re-Engage Consulting. Freibe is the former chief operating officer of Harcourts International.
“They say we humans only use about 10% of our brains,” said PropTech Group Chief Commercial Officer Luke Thomas. “I don’t know if that’s true, but I do know that only a few agencies use more than about half of the capabilities in Eagle, VaultRE, and Designly.
“For example, many VaultRE users never turn on the ability to send automated responses to enquiries coming from the portals, even though this could save them 10 minutes per enquiry and can also automatically qualify their buyers for them.
“We just launched our Learning Hub. This first stage provides bespoke, custom training and consulting. You can sign up for as little as two hours of training or save money by purchasing packages that give you more hours at a discounted rate.
“The next stage of the Learning Hub will offer learning paths that lead to certifications and CPD points.
“Close to half of the industry uses one of our CRMs, so up-skilling our user base will have huge benefits to the industry."
Learn more in this video
PropTech Group (ASX: PTG) advises that it is scheduled to release its financial results for the full year ended 30 June 2022 on Tuesday 30 August 2022, prior to market open.
We invite investors to join a live webcast and Q&A hosted by Joe Hanna, Group CEO and Managing Director of PropTech Group, on Tuesday 30 August 2022 at 11am (AEST)
To register in advance for this webinar, please follow this link.
PropTech Group is delighted to announce Leesa Sinn as the new Head of Learning & Development.
This brand new role will be responsible for:
PropTech Group COO Luke Thomas said,
"Leesa is a highly skilled and talented leader, with excellent credentials within the Learning and Development sector, who acted as a fantastic asset for PropTech Group in her prior role, something I know will continue moving forward. She'll be responsible for leading the development and execution of our new training initiatives across our brands, meaning our clients will be in very safe hands. I'm delighted to have Leesa on my team, and I'm excited for the days ahead when we'll be working together delivering positive commercial outcomes and client experiences across all of our products and services."
Leesa Sinn said:
"I am thrilled to be taking on this new role, and look forward to providing learning and development opportunities, to help our Customers benefit fully from our suite of industry-leading products."
Learn more about how the Learning Hub will benefit both shareholders and customers in this video.
The PropTech Group (ASX: PTG) is pleased to announce that it has made some organisational changes to strengthen its leadership team and improve operational and revenue generating capabilities.
Since relisting 18 months ago, the PropTech Group has dramatically increased its product offering through the acquisition of several businesses and through entering partnership agreements. As part of these acquisitions, we have also acquired some excellent managers and visionaries.
Therefore, to further integrate our acquisitions and partnerships and to increase the sales and marketing synergies between them, the PropTech Group has made several changes to its leadership team.
These changes include:
Luke Paverd has been promoted to PropTech Group’s Chief Operating Officer. Luke is the Founder and CEO of Eagle Software and joined the PropTech Group with the Eagle acquisition in 2021. In the new role, he will drive operational success across the Group.
Website Blue Chief Operating Officer, Luke Thomas, has been promoted to PropTech Group Chief Commercial Officer. Luke has 10 years of experience at Website Blue, which was acquired in March of 2021.
Head of Marketing, Audrey Nicoll, has been promoted to the new role of Chief Marketing Officer. Audrey has over 20 years of leading global marketing teams. Since she joined PropTech Group in March of 2021, she has made the marketing function a tremendous success.
Former Chief Revenue Officer, Bill Nikolouzakis, is leaving the business.
Joe Hanna, Group CEO and Managing Director of the PropTech Group said “These changes have the effect of tightly knitting together our subsidiary businesses and partnerships to provide greater value and a better experience for our customers.
“Luke Paverd has nearly a decade of experience building real estate CRM software. He is a master team builder and product visionary who will greatly contribute as COO. In his new role, he will help shape and deliver on our product roadmap and vision for the future.
“Luke Thomas is an industry expert who understands the commercial opportunities and challenges better than perhaps anyone. In his new role, he will oversee the commercialization of strategic partnerships, third party integrations, and training services, as well as ensure franchise groups get the best possible value from PropTech Group products.
“Audrey is a creative and data driven master marketer. In her new role, she will focus on efficient growth and increasing revenue with both product-led and group-wide initiatives.”
To download the full ASX announcement, please click here.
PropTech Group Limited (ASX: PTG) released its results for the first half of FY2022 this week, revealing 98% revenue growth compared to the first half of FY2021.
During the first half, PropTech Group invested for the future, focusing on new products and add-ons that will allow its customers to spend less overall on proptech by replacing third-party software with solutions offered by PropTech Group.
The Company expanded its product and technology development team from 14 in 1H FY21 to 42 in 1H FY22.
The company also signed binding term sheets to act as a distribution partner for Propps and National Property Data. PropTech Group will deeply integrate these services into its CRMs, making it easier for customers to take advantage of them. In exchange, PropTech Group could earn a significant equity stake in each company.
PropTech Group’s CEO and Managing Director, Joe Hanna, said:
“During the first half, we delivered record results by growing all key metrics in our core real estate CRM SaaS business.
“We laid the groundwork for future growth with the launch of new products, the Propps and National Property Data agreements, and investments in R&D and sales and marketing. We have proven that we can deliver rapid growth to these partners with the record results produced by our prior acquisitions, Website Blue and Eagle.
“We also began delivering two new growth initiatives that leverage our 41 percent market share in our core business to substantially increase our addressable market.
“The first of these strategies is the integration of ancillary services into our core software, beginning with payments. The second is the pursuit of international growth in the UK. These initiatives are at early stages but promising. The total addressable market for ancillary services alone, in Australia and New Zealand, is 13-fold larger than the opportunity in real estate SaaS software.”
For more information, see the related ASX announcement.
New listings are the lifeblood of a real estate agent and when they start to dry up, it can make for a tough time.
Fortunately, there are a number of things agents can do to make sure their pipeline is always full and there are always new listings on the horizon.
Here are three things you may need to improve on if you find you aren’t winning listings on a regular basis.
Most agents understand that closing a transaction is the very end result after a long process, which begins from the first time you come in contact with a would-be vendor.
If you aren’t winning listings at the moment, it’s most likely that if you look back six weeks ago, your prospecting wasn’t at the level that it needed to be. A lack of prospecting back then will mean fewer listing presentations, fewer listings and ultimately fewer sales.
To ensure your pipeline remains full, you need to be consistent in your prospecting every single week to make sure you don’t run into dry spells down the line.
Whatever marketing strategy you are currently pursuing, consistency is the key, while always looking to do more of what is working and less of what’s not.
Real estate agents tend to be in either boom or bust mode where they either have too much work to handle or a lack of listings. The top performers always ensure they have a steady stream of new business as they focus on prospecting every single day and put systems in place to manage their pipeline. Consistent prospecting is key.
It is well known that real estate is a relationship business, however, it’s important to understand that in order to win a listing, you will need to work very hard to build a relationship with a vendor well before a listing presentation.
This ultimately comes down to your marketing process and what you are doing to increase the number of touchpoints with potential sellers.
Top agents work hard to get their name out there as much as possible and then continually follow up with both buyers and sellers. This continuous contact helps build relationships well in advance of a vendor ever wanting to list their home. So when the time comes to list, the agent that has put in all that groundwork is likely to have a good chance to win the listing.
Focus more on giving value to people and building relationships and less on trying to win new business.
In some ways, the agents who need the business the least are likely to be the ones that ultimately win the listing.
While success does breed success, it’s important to have a mindset that is focused on helping vendors and doing the best you can for them.
While it might be tempting to make promises of a high sales price to a vendor, this will often not serve you as an agent or the client. It’s far more important to have a longer-term perspective and try to help the vendor solve their problem and do what’s right for them.
If you’re thinking longer term this will help you win business down the track. Imagine if you told a vendor that their property was worth a certain figure, only for it to sell at a significant discount with little interest. That vendor is highly unlikely to recommend you to their friends or family and that will mean your listings and sales will suffer in the long run.
By thinking long term and doing what’s best for the vendor, you’ll be far better off and so will your clients.
Here's Group CEO Joe Hanna's recent interview on the Finance News Network, discussing our strong Q3 FY22 results, including
Download the related ASX announcement here.
Download the related investor presentation here.