PropTech innovator, Propic has reinvented its Artificial Intelligence technology, with a trio of revamped products aimed at meeting real estate consumers’ demands for 24/7 service, giving agents more time in their day and generating leads with outbound prospecting.
The platform has launched Propic Concierge, Propic Advantage and Propic Insights across residential sales, property management and project marketing.
Propic Founder and Chief Executive Officer Jeffery Gray said the PropTech provider, and its products, were constantly evolving.
“Propic Concierge provides conversational AI across residential sales, property management and project marketing,” he said.
“At a brand level, the technology can provide 24/7 real estate on demand across all aspects of a real estate business.
“Propic Advantage mines industry data, CRM data and our data and will tell an agent who to call, when to call and why to call.
“It’s machine learning that works out which properties and consumers are most likely to transact in the future.
“Finally, there’s Propic Insights, which spans helping our customers manage their franchise network, providing the industry with insights around the market, agents, agent performance, agencies and competitive insights, whether it’s helping them to understand how they’re performing relative to the market or helping customers recruit new agents or offices to the network.”
Mr Gray said Propic Concierge for property management was particularly exciting as it automates maintenance, chases rental arrears, handles complaints and provides customer service on inbound inquiries.
The price guide for Propic Concierge for property management is about $2 per property under management per month.
“If you think about leasing inquiries, Propic Concierge will deflect 98.6 per cent of that work away from a team member,” Mr Gray said.
“In maintenance, it will remove around 80 to 85 per cent of all human involvement in the coordination and management of maintenance.
“On average, our customers that turn on Propic Concierge to handle all their payment arrears will reduce their rental arrears by 48 per cent in the first 90 days.”
The technology also automates smoke alarm compliance, organising and recording everything from contacting the tenant to sending the supplier to complete the compliance and processing invoices for payment.
Mr Gray said with the amount of time saved, agencies could channel their human resources into building stronger relationships with landlords, closer connections with tenants and prospecting for new business.
“The technology is like this superstar employee that never sleeps, never tires, but frees up the broader team to do the more valuable tasks in property management,” he said.
Propic Concierge is also available for residential sales and project marketing.
With residential sales, it is trained to answer prospects, buyers, sellers and the thousands of inquiries that come via an agency’s website, email, real estate portals and social media, at the cost of about $140 per listing.
In project marketing, Propic Concierge helps win more off-the-plan sales by connecting via Facebook, real estate portals, email and text to handle prospective buyer conversations as they happen, even after hours.
The price guide for Propic Concierge for project marketing is $2200 per development per month.
Propic Advantage has a price guide of $160 per sales agent per month, while Propic Insights for individual residential sales and property management leaders has a price guide of $140 per person per month.