Major real estate consolidation play announced

Agencies have been promised more automation after a new acquisition brought real estate forms, contracts, software, data and banking under the same roof.

PropertyIQ, which is a recent joint venture between CoreLogic RP Data and Macquarie Business Banking, has acquired ADL Software.

ADL Software’s products include ADLForms, an electronic contracts and forms service, as well as ADLInspect, which allows agents to complete condition on-site reports using their mobile devices.

PropertyIQ’s software options already included Connect, a real estate CRM that is powered by Salesforce, and Portfolio, a property management and trust accounting system.

Chief executive Dawie Verryne said bringing all those products together was designed to make agencies more efficient and profitable.

“The property services industry is often challenged by the number of forms used for their sales and property management businesses, as well as regulatory requirements in each state,” Mr Verryne said.

“By providing ADL Software as part of the PropertyIQ software suite, we are bringing more automation and integration to the workflow of real estate businesses.”

ADL Software claims to supply more than 3,000 offices across Australia. Alan Liddle, who founded the business 14 years ago, will stay on as general manager.

“I am excited about this opportunity to take ADLForms and ADLInspect to an all-new level of integration and mobility through PropertyIQ,” Mr Liddle said. The time is right, the technologies are right and the industry is ready for it.”

PropertyIQ is designed to make agencies more efficient by integrating workflow with data, analytics and banking.

Connect gives agents the chance to list and sell on the spot by allowing them to draw on CoreLogic RP Data’s national property database and view real-time market information.

Portfolio aims to help agencies keep track of activities in their rental portfolio and automate routine activities so they can be more responsive to the needs of landlords and tenants.

[Related: Why smart real estate players will use tech to get ahead]

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