The Australian developers of an app, iCommercial, which enables agents to run their day-to-day business via their mobile phone or tablet are planning to debut the technology overseas.
Launched with CBRE in 2014 by Kegan Harry (pictured left) and Lachie Gibson, the iCommercial app allows agents to respond to enquiries with full property details in seconds and at any one time, they can search and view their full database of property listings pulled automatically from the CRM.
Other founders include Simon Holland and Tomas Spacek of app developer Papercloud.
By automating the sales process for agents, iCommercial allows agents to respond to more enquiries faster and keeps vendors and landlords up to date with the latest activities.
According to the company iCommercial has established itself as the leading sales and productivity tool for commercial real estate agents, with almost 3,000 agents using the app Australia-wide and over 28,000 listings acquired of the 40,000 commercial listings in Austrealia, equating to about 70 per cent of the market.
Major clients include international agencies such as CBRE, Savills, Colliers and Knight Frank.
Kegan Harry says expanding internationally is therefore a natural progression for the app.
He says the company is currently in talks with agencies who have a major customer facing portal in New Zealand, Europe, Asia, the Middle East and the US.
“The commercial real estate sector has really been considered the poor cousin of the real estate sector by the media agencies here in Australia; always being a second thought to the residential sector," Harry says.
“We wanted to give these integral industries the dedication and specific modification they needed, designed by individuals who understand the industry intimately."
In an interview with Australian Financial Review (AFR) newspaper, Harry declined to reveal any targets for overseas growth, only saying it would follow Knight Frank into NZ in the "next three months" and CBRE into the US within a year.
The company, which had raised $1 million in seed funding at launch including from an unnamed backer, didn't need further capital for the overseas push, he told the AFR.
iCommercial shareholders include former Carlton AFL player Luke Livingston and IT investor Greg Bound.
It had $300,000 in earnings before interest and tax last year and a revenue of about $450,000.