Ray White has invested $3 million into Sydney-based proptech company NurtureCloud in a bid to both improve its own network’s offering as exploring international opportunities for the product.
The investment in NurtureCloud, which is a proptech co founded three years ago by serial internet entrepreneur, Adam Rigby, means that Ray White agents will have high-level tech at their fingertips.
Ultimately it will mean they spend less time on administration tasks like call logging, diary and workflow management and paperwork, allowing more time for working personally with vendors and buyers.
Meanwhile, vendors will also have access to a dashboard that provides cutting-edge real-time information on all aspects of the sale progress, keeping them informed at all steps along the way.
Ray White Managing Director, Dan White, who will become Chairman of NurtureCloud, said NutureCloud’s mobile-first platform offers agents a significant advantage in an industry that is poised to benefit from improved data-driven sales management and best-in-class vendor experiences.
“We are delighted to be investing in Adam and the NurtureCloud team, and their unique mobile-first end-to-end platform, developed over the past three years,” Mr White said.
“They are a hugely capable team and have found unique solutions for agents to be more productive whilst simultaneously being able to deliver a much more transparent experience for vendors and buyers. It will be a great addition to our technology offering.
“Our plan is to collaborate with the NurtureCloud team and customise the product to suit our network and roll out in stages over the next 12 months.
“We expect to see strong improvements in productivity, conversion rate across every step of the sales process.
“On top of this, NurtureCloud’s vendor and buyer platforms will enable our members to deliver best-in-class customer experience now and into the future, keeping up with other industries”
NurtureCloud’s technology was incubated inside of the national fixed-fee agency Upside, and utilises data, automation and market intelligence to improve vendor, buyer and agent outcomes.
To-date NurtureCloud has worked exclusively with Upside but are now expanding into the wider market, starting with industry leaders Ray White.
NurtureCloud CEO and founder, Adam Rigby, said NurtureCloud has already proven its worth, drastically improving the efficiency and conversion rate of agents who are part of a remote or distributed sales team.
“The real-estate industry has lagged behind many other industries when it comes to technology and advancements in large-scale enterprise-wide sales management and distributed sales teams,” Mr Rigby said.
“Most real-estate specific software is built around the needs of a single local office and misses the mark when it comes to using metrics to improve performance of an individual or team.
“We are tremendously excited to see the impact of NurtureCloud within Ray White, who are already technology leaders in the industry.
“Their input into our product will be of great assistance and a catalyst for expansion within Australia and other international markets. We strongly believe that Ray White is the perfect partner to help achieve this vision.”