Revolutionizing Commercial Real Estate “AgentMile”
What is AgentMile?
AgentMile is the world’s first decentralized commercial real estate leasing platform powered by AI. We enable brokers and landlords to list their commercial properties on our blockchain powered MLS and offer enhanced leasing capabilities, management and reporting.
the story behind AgentMile
- AgentMile is on track to revolutionize the commercial real estate industry. We aim to become the world’s first decentralized commercial real estate leasing platform powered by AI.
- In 2015, we released AgentDrive, our award-winning real estate CRM (Customer Relationship Management) and marketing platform.
- Following our success with AgentDrive, we launched AgentGrow in early 2018. AgentGrow is a real estate website builder which helps agents and brokers build beautiful and compelling lead-generating websites and landing pages.
- With both products, agents are finally able to perform essential sales and marketing activities under one umbrella in a seamless and effective manner. AgentDrive was awarded “Great User Experience Award 2017” and “Rising Star Award 2017” by FinancesOnline.
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Exploring new challenges
- The CRE industry, despite its traditional hesitancy in adopting new tech, actively seeks a new set of tools to generate better results without jeopardizing proprietary data.
- Our vision of a solution to this problem evolved into the AgentMile platform.
- AgentMile will not only be the place to advertise and find the best commercial deals, but to also empower agents and brokers to utilize the technology for their own brokerages.
Commercial Real Estate (CRE) industry
Now is “the most exciting and interesting time to be involved in commercial real estate”, according to the CBRE Global Real Estate Market Outlook 2017. There is a powerful driving force behind the industry’s steadily improving performance:
- the global economy has mostly barred the shocks of the 2008 financial crisis and subsequent recession. Unemployment is down and all key CRE sectors are witnessing growing demand from both institutional investors, REITs (Real Investment Trust) and high net worth individuals.
- moreover, all key CRE sectors “are in the process of reinventing themselves to accommodate technology-driven changes in business operations”.
What are the major investment properties, or CRE markets?
- Industrial real estate: factories, warehouses, plants, etc. In 2018, the industrial segment is expected to be one of the most dynamically expanding.
- Multi-family real estate: apartment buildings rented out to a variety of tenants both short and long term.
- Hotels but also resorts, motels and the like. Airbnb accommodation excluded.
- Office space: all kinds of office facilities and parking space.
- Retail space: shopping malls, restaurants, storefronts, venues etc.
Who are the key market players? The major parties are commercial brokers, landlords and tenants. In addition, as the property progresses through the leasing life cycle, other parties become involved: banks, appraisers, third-party auditors, escrow agents, government agencies, etc.
Who invests in CRE? The largest sources of ownership in most CRE markets are:
- institutional investors, e.g. public and private sector pension funds, endowment plans, insurance companies, wealth managers, asset managers or superannuation schemes.
- REITs, joining a REIT is the easiest way to invest in CRE;
- Private equity as well as investments from high net worth individuals.
While investing in CRE requires more knowledge, experience and capital, it also provides a more stable income in the long term, compared to the residential sector.
Our Customers
Since 2015, AgentDrive has been servicing both independent brokers and global franchises. This allowed us to gain unique insights and a behind-the-scenes look into the requirements of different business models in the real estate industry. Our customers include global real estate franchise networks such as Coldwell Banker and Century 21 as well as smaller Independent firms.
Current problems faced by
the CRE industry
1.Antiquated and disparate technology.
2.Inaccurate and unverified listing data.
3.Time-consuming due diligence.
4.Full property history not available.
5.Poor cash flow management.
6.Industry data kept behind closed doors.
7Lack of real-time data for decision making.
8.Static property visualization.
9.Difficulty in Investing overseas.
Commercial Real Estate Vs Residential
The real estate blockchain startup scene is exploding and a large number of these startups are designed with residential real estate in mind. However, high investor demand both institutional and private centers upon commercial real estate, making it an extremely interesting and lucrative field for blockchain startups. This is why AgentMile considers that stepping into this niche gap is a great opportunity.
It is generally acknowledged that investing in CRE has a number of benefits over its residential counterpart:
- CRE provides higher returns and rental yields than residential.
- lease agreements are usually middle- or long-term (3 to 10 years) compared to rentals agreements that tend to be short-term (6 to 12 months).
- CRE asset value is increasing over time and enjoys excellent potential for appreciation.
- Tenants often take a contractual obligation to incur many costs, for example insurance.
- tenant-landlord relationships are professional and regulated by the agreement.
AgentMile is on track to implement a new interface for its software together with broker and tenant apps. Our goal is to provide a feature-rich, yet easy-to-use functionality.
Blockchain is the backbone of our project utilizing the benefits of distributed technology such as transparency and security. Fast and efficient CRE property search and rental payments will rely on AgentGrow, our front-end solution. AgentDrive, being the heart of the project, will combine data driven decisions with a real estate CRM system.
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