June 24, 2024

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Revolutionizing The $7 Trillion Real Estate Market

Amidst a rapidly changing real estate world, a global shift is underway. The pandemic has disrupted the status quo, dethroning traditional real estate giants and ushering in a new era of technology, ai and data-driven transformation.

One start-up in Hong Kong is quietly making waves, capturing the attention and levelling the playing field among real estate companies of all sizes. Evident from its staggering end-user growth of 9,000% since launching in the span of 18 months, Butler Asia has garnered the support of blue-chip real estate companies, with a combined market cap US$75 billion+1, throughout the region.

Butler’s SaaS technology facilitated a 2,000%2 increase in their real estate client’s end-users (i.e residents & leads) engagement – a significant improvement compared to emails and calls. As a result of this increase in engagement, over 50%2 in time saving on property operations and separately a 25%2 increase in retention and conversions was recorded.

Yardi’s 2021 report reveals a startling statistic: 10%3 of Asia’s real estate players lack tech systems, while 30%3 rely solely on spreadsheets. Among the remaining 60%3 with tech systems, only 35%3 utilizes building management systems. This industry is ripe for disruption, as it lacks technological adoption despite its evident need for it.

Co-founders Jonathan Lam and Angues Chan, having lived in multiple metropolitan cities, were astounded first-hand by how inefficient the industry is due to the lack of technology – communication channels were fragmented with tons of manual procedures. Fuelled by this insight, they embarked on a mission to bridge the gap of standard of living through the power of technology.

Their technology serves as the “brain”, bringing real estate to life, powered by AI supported by data from their SaaS’s web of functions. This enables property team to keep their fingers on the pulse of everything happening in their operation real time; from managing fees, tracking FAQ trends, generating maintenance reports to converting tenant inquiries into digital ticket with AI-assigned urgency, staffing and suggestions to resolve the query.

To grasp the magnitude of their innovation, one needs to know the intricacies of real estate operations. The typical 1,000-household unit estate gets around 600 enquiries a month, which requires approximately 20 manpower a month to resolve. Most estates are simply not equipped with such manpower, leaving many of these enquiries unresolved and negatively affecting living experiences. Standard SaaS systems in the market can brings this manpower requirement down to 10, and the Butler SaaS system brings it further down to 5.

Butler Asia stands out via their core focus on understanding human behaviour. Cleverly combining WhatsApp, as the end-user interface, with their AI-powered SaaS system, as the real estate client interface, they are able to deliver revolutionary benefits without burdening end-users with drastic changes. With this dynamic end-user experience, they are the first to use conversational commands to replace mobile app functions. Their advisor and investor James Riley, former Group CEO of the Mandarin Oriental, noting that “… People are increasingly looking for ways of service they can feel engaged anytime… rather than being waited upon.”

Early adopters of Butler Asia’s solutions gain a lasting competitive edge, enhancing their brand value and unlocking new revenue streams. This versatile technology caters to various real estate properties including commercial, retail, residential and public housings. Its cost-effectiveness makes it an attractive option to improve the lives of millions.

Their paying clients, Mr CH Chung, Executive Director of JLL, Head of Asset Management, HK & Macau says; “We are currently using Butler’s AI system to provide automated customer services to the residents…round-the-clock service with fewer personnel… requests are automatically logged for easy follow-up by our staff and for service level analysis… providing better convenience for our residents…”

With access to primary data generated via their technology platform, Jon and Angues, Co-Founders of Butler Asia say; “We envision developing a rating system, similar to Moody’s for corporates, but for real estates, benefiting the lives of million that are finding their dream home and on top, we are committed to making a positive impact across the region by building the future of living experience,” disrupting and creating waves that will reshape the industry for generations to come.