Monday, 11 November 2019 10:51

Real Time Agent finds new home at Domain

By
Real Time Agent founders Angus Ferguson and Daniel Portelli Real Time Agent founders Angus Ferguson and Daniel Portelli

Property website Domain has agreed to acquire real estate digitisation vendor Real Time Agent.

Real Time Agent digitises property transaction steps including agency agreements, auctions and contracts.

Its three main products are Real Time Authority (digitises agreements between real estate agents and vendors), Bidtracker (records individual bids and auction results), and Real Time Contracts (digitises the sale contract process, calculating settlement dates and deposits, and sending copies of the completed contract to the agent, office, vendor, and purchaser).

These tools are said to reduce administration time by up to four hours per transaction, as well as improving accuracy and compliance.

Domain group CEO and managing director Jason Pellegrino, said “We’re thrilled to welcome Real Time Agent to the Domain Group. It is clear that Real Time Agent shares a strong cultural and strategic vision of partnering with agents to deliver amazing service to their vendors and buyers.

“Domain is focused on helping agents and consumers through the property journey. We aim to help agents to find and win the next listing, market and sell the property quickly and for the best possible price, and help them run an efficient and profitable business.

“Together with our trusted agent tools, like Homepass and Pricefinder, Real Time Agent’s products will help deliver this and a number of huge benefits to both agents and consumers.”

Founded in 2016, Real Time Agent has more than 4,000 agent customers, and has processed iver $40bn in property transactions.

Co-founder and CTO Daniel Portelli, said, “This new partnership means we can access Domain’s extensive product and tech expertise, as well as improve the value of our products to Agents through Domain’s deep consumer knowledge.”

Portelli and co-founder and chief commercial officer Angus Ferguson have agreed to remain with the company, Pellegrino said.

Terms of the deal were not disclosed.

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Stephen Withers

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Stephen Withers is one of Australia¹s most experienced IT journalists, having begun his career in the days of 8-bit 'microcomputers'. He covers the gamut from gadgets to enterprise systems. In previous lives he has been an academic, a systems programmer, an IT support manager, and an online services manager. Stephen holds an honours degree in Management Sciences and a PhD in Industrial and Business Studies.

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