Background

The truth behind IPO and exits within the Real Estate industry. With Peter Gibbons and Jeffery Gray

Transcript arrow_drop_down

Transcript

[ad_1]

Nov 9, 2021

In this episode of The Propcast,
Louisa speaks with Peter Gibbons, MD of Openn Negotiation and
Jeffery Gray, Founder and CEO of PROPIC about what it takes to exit
and IPO a real estate company. They discuss how to set your company
up to be IPO ready, how exciting it is to be in the Proptech sector
right now, and how to maintain resilience when working in a
Proptech startup.

 

Companies Mentioned:

Openn Negotiation
https://www.openn.com.au/ 

PROPIC https://www.propic.com.au/ 

REACH Australia https://nar-reach.com/ 

Domain Group https://www.domain.com.au/group/ 

Second Century Venues
https://www.scv.vc/

National Association of
Realtors
https://www.nar.realtor/ 

MRI Group https://www.mrisoftware.com/

Fleet https://fleetspace.com/ 

 

Shout Outs

Ash from ActivePipe (Ashley
Farrugia)

https://www.linkedin.com/in/ashley-farrugia-99bb0616/?originalSubdomain=au
 

MRI Group https://www.linkedin.com/company/mri-software-llc/ 

 

Key Insights From This Episode:

  • Australia is quite advanced in terms of the
    technology we’re using this vertical… there’s probably a contact
    every two or three months from potential investors, from the US. So
    they are clearly watching what’s happening with technology in
    PropTech, in Australia –
    Jeffery Gray
  • 80% of all consumer inquiries for real estate
    happen out of work hours. –
    Jeffery Gray

 

  • Forbes has estimated by 2025, 95% of all
    consumer interactions are going to be supported by AI technology.
    Residential real estate is the largest asset class in the word. And
    you look at it as a vertical, it is well behind any other consumer
    facing vertical, arguably in the world. –
    Jeffery Gray
  • VC’s and investors in America are…scouring
    the word, looking for technology companies that are investing in
    artificial intelligence. It is the next generation of technology
    and that’s why they’re reaching out. –
    Jeffery Gray
  • There’s positives and negatives to being
    listed. For us it was overwhelmingly a positive on balance,
    particularly around securing the funding so that we don’t need to
    worry about funding now in terms of our runway, but more
    importantly, we’ve got a very clear roadmap that needed funding to
    execute it. –
    Peter
    Gibbons
  • To me real estate is that last great bastion.
    It is a great industry to be in, but there’s so many areas for
    improvement, and that improvement is all about customer journey. So
    the buyer and seller journey, how do we make their lives easier?
    And the key conduit to that is help out the agents. –

    Peter Gibbons
  • COVID was a bit of a wakeup call to maybe there
    are other ways of doing things that aren’t the traditional way that
    we’ve undertaken it. So agents have really embraced it from that
    perspective because a) they either had time on their hands to learn
    about new things, and b) they had to come up with solutions that
    they probably haven’t thought of before. –
    Peter Gibbons

 

 

Keywords: proptech, AI, IPO, listing, public, exit,
property, real estate, funding, VC, investors

 

About Our Guests:

Peter Gibbons, Openn Negotiation


https://www.linkedin.com/in/peter-gibbons/?originalSubdomain=au
 

Peter Gibbons has extensive
experience in property investment banking, property development and
financing and technology development. He has held senior roles in
some of the world’s largest investment banks, including Macquarie
Bank, Bankers Trust and Deutsche Bank, as well as Board roles at
Landcorp, the Western Australian Football Commission, Silver Chain,
and Chairman of the Bethanie Group.

 

About Openn Negotiation

Openn Negotiation is an
Australian property technology company offering a proprietary
cloud-based software platform to support real estate agents in
selling property online with greater transparency. The Openn
platform facilitates a negotiation process, featuring streamlined
digital contracting and automated communication tools, which
enhances a property transaction. The solution provides buyers with
real-time feedback through their device on how much competition
exists and where their price stands in the negotiation, resulting
in an optimal sales outcome.

 

Jeffery Gray, PROPIC


https://www.linkedin.com/in/jeffery-gray-8b3216a/?originalSubdomain=au
 

Jeffery Gray the founder and CEO
of Propic. He has extensive experience in property technology, data
and AI. Jeffery was a former executive of Domain Group, Aristocrat,
Lexis Nexis and numerous other data and technology companies. After
a successful exit from a prior start up, he be came a Real Estate
agent for a period, prior to joining Domain Group. As such has
first hand


experience with the pain points,
challenges and opportunities that the Real Estate vertical
has.

 

About Propic

Propic is an Australian based data and AI
company that delivers conversational AI and data solutions to
residential real estate agents spanning, Sales, Property Management
and Project Marketing, House and Land and Build to Rent Propic’s
conversational AI (Enliven AI) serves consumers 24/7 enabling its
customers to scale with out people and in real time. ReVeal AI is a
data platform that tracks every property and listing in australia,
ingests customer data and its algorithms works out who has the
highest propensity to transact in the future. The agent app tells
and agent, who to call, when and most importantly why, all in
natural language.

 

About Our Host

Louisa Dickins


https://www.linkedin.com/in/louisa-dickins-ab065392/?originalSubdomain=uk

Louisa started her career in
property working at a well-known estate agency in London. Realising
her people skills, she moved over to Lloyd May to pursue a career
in recruitment. She now is a Director at
LMRE, who are a specialist recruitment firm driven
by PropTech and recruitment professionals, and Louisa oversees
their 5 core areas. Louisa co-founded LMRE and provides a
constructive recruitment platform to the new disruptors in real
estate. Louisa is also on the board of Directors at UK PropTech
Association (UKPA).

 

About LMRE

www.lmre.tech

LMRE believe there is a better
way to recruit.
LMRE focus on a more comprehensive, client led focus
delivering exceptional talent to the place at the time. They are
passionate about the industry and passionate about people’s
careers. LMRE spend time with each client to become and an
extension of the business, and their transparency and core values
help them grow with the sector. LMRE simplify recruitment and
innovate with our clients and evolve the people driven, PropTech
community.



[ad_2]

Source link

About the author call_made

admin

More posts

Timestamp

Be the first to leave a comment

Leave a comment

Your email address will not be published. Required fields are marked *

 For anyone looking to expand their real estate horizons beyond borders, this podcast offers a treasure trove of insights from top agents around the globe. Whether you’re looking to showcase your expertise as a real estate professional or uncover the next great investment opportunity as a buyer, Global Real Estate Insider provides the expert advice and market analysis you need to make informed decisions in the global real estate arena.

International real estate platform that connects foreign buyers and investors with international property

0%

Login to enjoy full advantages

Please login or subscribe to continue.

Go Premium!

Enjoy the full advantage of the premium access.

Stop following

Unfollow Cancel

Cancel subscription

Are you sure you want to cancel your subscription? You will lose your Premium access and stored playlists.

Go back Confirm cancellation