An Australian-developed real estate technology start-up is set to expand into the lucrative US and UK property markets.
ActivePipe, which is headquartered in Melbourne, is subscription based software system which utilises data and predictive algorithms to automate and personalise communication to the consumer on behalf of the real estate agent.
The system plugs into the agent’s CRM and provides real-time analysis to agents about which contacts are highly active, the properties they are interacting with, and the likelihood of them becoming imminent buyers and/or sellers.
After a successful Australian launch this year, which saw the technology adopted by over 50 real estate networks with agents reporting significant increases in sales and listings, the start-up is set to launch in the US$23 trillion American residential real estate market and the £5 trillion UK residential real estate market in early 2016.
ActivePipe CEO Ashley Farrugia says he set out developing the software in 2008 after several agents failed to return his calls when he was on the market for an investment property.
“CRM systems are brilliant and essential tools for managing large numbers of contacts, but they are effectively data museums – they reflect what has happened, not what will happen. We deliver data discovery and predictive intelligence to the agent’s data,” he said.
“It’s not a case of technology disrupting an industry. Rather, it’s about technology making an industry aware of a problem it did not know it had, and unleashing the awesome efficiencies and opportunities available through data discovery.”