A leading real estate franchise group has signed a cheque to financially back a proptech start-up to simplify administration tasks.
Ray White has invested $3 million into NurtureCloud to enhance what the agency can offer its network and explore international opportunities for the product.
This will give Ray White agents access to a service that will slice the amount of time they spend on administration tasks.
Additionally, vendors will have access to the platform to monitor real-time information on the progress of their sale.
Ray White managing director Dan White will become chairman of NurtureCloud, and he is looking forward to working with the team.
“Our plan is to collaborate with the NurtureCloud team and customise the product to suit our network and roll out in stages over the next 12 months. We expect to see strong improvements in productivity, conversion rate across every step of the sales process,” Mr White said.
“On top of this, NurtureCloud’s vendor and buyer platforms will enable our members to deliver best-in-class customer experience now and into the future, keeping up with other industries.”
NurtureCloud was founded three years ago by Adam Rigby, who is also behind the national fixed-fee agency Upside.
In the short amount of time NurtureCloud has been around, it has improved efficiency, Mr Rigby said.
“The real estate industry has lagged behind many other industries when it comes to technology and advancements in large-scale enterprise-wide sales management and distributed sales teams. Most real estate-specific software is built around the needs of a single local office and misses the mark when it comes to using metrics to improve performance of an individual or team,” he said.
“We are tremendously excited to see the impact of NurtureCloud within Ray White, who are already technology leaders in the industry. Their input into our product will be of great assistance and a catalyst for expansion within Australia and other international markets. We strongly believe that Ray White is the perfect partner to help achieve this vision.”