The real estate tech landscape has recently been joined by a new promising project to watch in the months ahead. AgentMile is the first decentralized commercial real estate (CRE) leasing platform powered by AI.
The platform plans to provide a blockchain powered MLS to brokers, landlords and tenants to enable them to list/find commercial deals. As well as that, AgentMile will offer enhanced leasing capabilities, management and reporting.
Market and potential for platform adoption
The CRE market has experienced dynamic growth in Q1 2018 with commercial real estate deals reaching staggering volumes. According to IBISWorld, CRE as a global asset group amounts to $3385 trillion.
In terms of technology, however, the results are much less impressive. The CRE industry is notorious for its reluctance to adopt new tech which inevitably puts investors’ interests at risk.
For example, according to the International Data Corporation’s global survey of CRE executives commissioned by Argus Software,
nearly one-third of the global CRE industry is still using spreadsheets as their primary tool for asset and portfolio management functions. As a result, there is potentially US $11 trillion globally of CRE assets managed within inefficient and error-prone spreadsheets.
Even more industry problems come up when one digs deeper:
- property search via MLS is lengthy and inefficient;
- pre-lease due diligence checks are time-consuming;
- industry data is kept behind closed doors;
- disparate and inefficient property/cash flow management;
- decision-making is getting increasingly complicated.
AgentMile is on track to address these issues by maximizing the potential of blockchain technology and implementing a set of platform features and solutions:
- smart and efficient property search via a blockchain MLS;
- digital identities of people and properties on the blockchain to facilitate pre-lease due diligence checks;
- Smart Contracts to simplify property/cash flow management and reduce transaction dependency;
- industry benchmarks and data open for all, yet incorruptible and not subject to commoditization;
- AI for better decision-making;
- immutable reviews and ratings stored on blockchain.
The AgentMile platform is a combination of three layers:
- Blockchain Network – The backbone of the project utilizing the benefits of decentralized technology such as transparency and security.
- AgentGrow – The front-end solution that makes searching and leasing CRE property fast and efficient.
- AgentDrive – The core of the project, combining data driven decisions with a real estate CRM system.
AgentMile is the latest project launched by AgentDrive, as established real estate startup founded in 2015. AgentDrive works with over 1,000 real estate professionals, in 20 Countries, helping them market and manage over 100,000 properties.
Project website: https://www.agentmile.com
Contact info: firstname.lastname@example.org
Feel free to comment here or in AgentMile’s ICO listing page.
- AgentMile Announces its ICO - Jun 27, 2018
- Problems the CRE Industry Can Address by using Blockchain Technology [Part 2] - Jun 10, 2018
- Problems the CRE Industry Can Address by using Blockchain Technology [Part 1] - May 30, 2018
- Introduction to AgentMile, a Decentralized CRE Leasing Platform Powered by AI - May 22, 2018
- Giveaway: 1x CB Blockchain Conference Ticket - Mar 17, 2018
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Categories:Initial Coin Offering