Property intelligence start-up Propic has appointed David Choi as their new Chief Commercial Officer and Strategist with an immediate start.
David Choi joined the senior leadership team at Propic, and is tasked with growing the $6 million investment from Antony Catalano and Alex Waislitz’s ‘Series A funding’.
Dubbed as the ‘go-to-guy’ for PropTech innovators in Australia, Mr Choi believes Propic’s goals are ambitious but achievable.
He said more agency leaders are looking to take advantage of Artificial Intelligence (AI) technologies to automate out-dated real estate systems, and better anticipate people’s buying, selling and rental choices.
“Propic has the right technology at the right time for what real estate leaders want and need, right now,” Mr Choi said.
Mr Choi has been the chief strategist behind some of Australia’s leading property and fin-tech businesses over the last 20 years.
He was one of the founding members of Homepass, and led commercial and tech innovation at Domain Group and realestate.com.au for several years.
He also served as Chief Commercial Officer for global marketing automation platform ActivePipe, and was appointed to the Propic board as a non-executive director in 2020.
Propic founder and CEO, Jeff Gray, said the recruitment coup highlighted a pivotal point in the company’s growth trajectory.
“With the right focus and team on board, it’s reasonable to expect our annual recurring revenue (ARR) to be tripled in 12-18 months,” Mr Gray said.
“David’s calibre of experience and character, his deep connections, and passion for technology transforming real estate makes him a great fit at Propic, and we value having him on board full-time now.”
Mr Choi said real estate was a highly emotional transaction experience, which can be stressful.
“We know 70 per cent of real estate inquiries happen after hours, between 7pm and 10pm, and people sometimes wait 48-72 hours to get a response from an agent,” he said.
“There’s no other advanced industry where that type of customer service would be acceptable.
“Propic conversational AI answers all those after-hours questions in real-time, which also relieves stress on agents to respond to thousands of questions instead of doing what they love about their jobs, connecting with people that our predictive technology tells them are ready to buy, sell or move home.”
Fuelled by the Series A funding, Propic will soon be hiring more data scientists, engineers, marketing and sales experts as the PropTech start-up seeks to transform itself into a global technology partner for the real estate industry.