The investment group, John Singleton Group, has announced its investment in a new real estate software, Property Realm, through its investment arm Bonython Property and Investment. The software is set to revolutionize the property management sector in Australia by combining artificial intelligence (AI) with voice recognition technology to enhance the rental experience for landlords, tenants, and property managers.
Property Realm utilizes platforms such as Google Assistant, Google Home, Google Mini, SMS, and will soon integrate with standard email systems to provide tenants with full access to their tenancy details. This innovative technology allows tenants to access all the information they need in a self-service environment at any time of the day or night, seven days a week, with ease.
Furthermore, Property Realm aims to be at the forefront of adopting voice and AI technology across the real estate sector. It will soon offer similar solutions for Facebook Messenger, Apple’s Siri, and Amazon’s Alexa products, making it a highly sought-after tool in the industry.
According to Paul Anderson, Executive Chairman of Bonython, Realm is the future of communication for tenants, landlords, and property managers. However, the startup is not limited to real estate interactions. Its flexibility and adaptability to any situation make it the ultimate platform for customer self-service, available 24/7 when convenient for them.
Realm has heavily invested in a new technology that seamlessly integrates voice recognition through Google with a real estate agent’s trust account, as revealed by Patrick Hill, CEO of Realm, the developer of Property Realm. With the integration of AI, tenants can directly communicate with their real estate agent’s trust account and access their information.
This cutting-edge technology enables tenants to inquire about their rent’s due date, the timing of their next inspection, or log maintenance requests, among other things. This development will undoubtedly revolutionize the real estate industry’s communication, management, and customer service processes.
Enormous potential of the global market
According to data released by Realm, the United States has an enormous 40 million rental residential properties under management, while the UK has 7.5 million, and Australia has an estimated 2.2 million. In Australia, the average rent roll ranges from 280 to 320 properties, with the larger property managers overseeing as many as 11,000 managements.
On average, tenants in Australia make 3.4 calls per month to their property manager, and Realm estimates that 80-90% of these calls can be resolved through their AI, CLAIRE, using technology already owned and utilized by the tenant.
The collaboration with the John Singleton Group is an exciting opportunity for the technology start-up, as it will support the expansion of Realm and the delivery of its product lines both domestically and internationally, and into other industries. The John Singleton Group’s expertise in advertising, hospitality, hotels, and development gives them a unique understanding of buyer behavior, and they recognize that Realm’s offering is the future in communication and business through AI and voice recognition.
Property Realm’s Rollout
Property Realm is currently engaged in discussions with leading residential real estate networks for a nationwide implementation of their AI technology solution. According to Mr. Hill, the company is also actively working on integrating their platform with popular trust account management software providers such as PropertyMe, Rockend’s Property Tree, and VaultRE.
While the amount of investment made by Bonython Property and Investment in Property Realm remains undisclosed, it is clear that this infusion of funds, expertise, and access to a larger network will significantly bolster the company’s rollout plans across Australia.
