According to the recently released NAB Residential Property Survey, sentiment in the Australian housing market has collapsed in Q2 as a result of the impact of COVID-19 on the economy. This is contrary however to what we’ve been hearing on Property Edge and as recently as last week our guest, Executive Chairman of the Raine & Horne property group, Angus Raine had this to say about what he is seeing on the ground.Economists can say, Angus it’s a bit of a fool’s paradise [because] when the demand bucket’s been filling and you’ve got a lack of listings, obviously the one thing that happens is the prices go up. That’s exactly what we’re seeing.”
To tell us about the current funding environment, Oriel and Ben are joined this week by Chris Rolls, Managing Partner at PieLAB Capital and self-proclaimed chainsaw juggler. “Our view is that good businesses can always raise capital. Even in the midst of the COVID-19 pandemic, we had one of our portfolio companies raise a $7.5M round which closed mid-April” he says.
That particular successful company happens to be Different.com.au that viewers may recall from a May episode of Property Edge. According to Rolls, “It’s a classic example; a good company with excellent pedigree amongst its founders and growing rapidly. They’re the sorts of businesses that investors want to back.”
In PropTechNow this week, Shaneal introduces us to tracking and collaboration platform DA Tracker. Not only does it track the DA process, it also allows collaboration by providing the ability to invite third parties such as designers, architects and project managers to see exactly what is going on across the timeline of the DA.
Moving into the agency space, Luke Newton from LockedOn credits the “celebrity” of one of the four founding directors, Aaron Shiner as initially helping the company stand out in an already crowded CRM market. Since then and on the premise of “let’s just do it better,” the company has gone cloud-based and is on their third version of their “sexy interface” model.
Understanding the difficulties of prospecting and the importance of existing relationships particularly in challenging times, the company came up with a “Hit List” tool. The function acts as a telemarketing system within the LockedOn platform and allows users to access segments of existing data to reconnect with people they’ve had prior contact with.
According to Newton, “That tool was really well received and it’s actually, probably one of my favourite tools we’ve ever built in the system right now. Just the ability to get through warm to hot contacts and have great chats, has proven to be a great success.”
Join Oriel Morrison, Ben Gaze and Shaneal Sharma next week, for more in the ever-changing proptech space on Property Edge.
Property Edge - 7pm AEST Wednesdays – Exclusively on PropertyTV.io
15 July, 2020