AgentMile is a project related to Commercial Real Estate industry (CRE) which is the third platform to be implemented to reach the ultimate goal to revolutionize CRE industry. In 2015 the company released AgentDrive which is an award-winning real estate CRM and marketing platform. It is now being used by 1,000 real estate professionals in 20 countries helping them manage and market over 100,000 properties. In 2018 AgentGrow is released which is a real estate website builder created for agents and brokers. The third platform AgentMile is a blockchain based platform which aims to be the first decentralized CRE leasing platform powered by artificial intelligence.
Commercial real assets are one of the largest global group of asset groups. It is a 3385 USD trillion industry but commercial brokers still struggle with antiquated technology, data sharing, inefficient cash flow management and real time performance data. As being industry professionals, the team identified a combination of robust software features which would provide solution to the problems industry face. These features include a smart and efficient property search via a blockchain multiple listing service (MLS), digital identities of people and properties, smart contracts, open industry data, AI and much more.
Problems
Property search is time consuming, unreliable and inefficient. Commercial Real Estate industry is famous for false and often exaggerated property related information. There is no process to verify the listing data for accuracy.
Time-consuming due diligence checks and a large number of third parties in a CRE transaction. Due diligence, KYC (Know Your Customer) and AML (Anti-money Laundering) checks and reporting can take months given the state of modern systems and approaches.
Disparate and inefficient property/cash flow management. CRE professionals often use disparate and antiquated systems to track payments and property maintenance costs, to report and plan.
Crucial CRE data is kept behind closed doors. CRE companies are still hesitant to share their data for fear it would backfire. When CRE firms shared information with data service providers in the past, this often led to their data being commoditized and sold to other market players, leading to a reluctance to share it.
A complicated decision-making process that is further obscured by the lack of data. CRE management teams lack real-time analytics on their performance, industry benchmarks, valuation and cash flow analysis, investment and debt management.
Property visualizations are overwhelmingly static and visiting sites physically is time-consuming and expensive. Visualizing a warehouse or a multi-storey shopping mall from a few renderings and floor plans to work out whether the building will make money is a fairly complicated process.
A lengthy and complicated leasing cycle with great transaction dependency. Brokerages can rarely guarantee a smooth transition from one stage to another due to the large number of third parties and ongoing transaction dependency.
Solutions
The AgentMile blockchain MLS will be a truly shared database where information is accurate and up-to-date. Blocks of data about brokers, landlords, tenants, property managers, credit and repair history, lease rates, etc. cannot be changed once they are added to the blockchain making it the most secure technology known today.
The blockchain-powered AgentMile platform will allow digital identities of people and properties, so that due diligence can be performed upfront with near-perfect accuracy.
AgentMile users will be able to create a Smart Contract to detail their profile information, terms of the lease, frequency of payments and lease rate.
The data stored on the AgentMile blockchain platform cannot be modified, deleted or commoditized, making it a fair playing field for all market participants.
The AgentMile platform will apply AI algorithms to the data collected and stored on the blockchain to produce better and more reliable data analysis.
AgentMile users will be able to publish VR showcases onto the AgentMile platform and subsequently promote them across various marketing channels.
With the implication of Smart Contracts all payments throughout various leasing stages will be near real-time while most of the paperwork and manual activities will be eliminated.
Team
There are 9 people in the team who has extensive experience in their profession which I have verified via their LinkedIn accounts. Founder Vladimir Baranoff-Rossine, is a serial entrepreneur who has launched several companies which makes me feel like this platform would be successful too.
Advisors
There are 9 people as advisors who has professions in the areas such as technology, cryptocurrency, investments and real estate. Advisory team is composed of professionals has titles such as, board director, Co-Owner, Senior Vice President, Vice President, CTO etc. There is also something interesting that some of them are the investors of the project which is a positive sign for the project.
Token Metrics
There will be 100,000,000 ESTATE tokens available for the tokens sale. All tokens which are not distributed will be burned. An ESTATE token will be sold at 0,20 USD during crowd sale. Hard-cap is determined as 20,000,000 USD. Minimum token purchase is set as 1 Wei.
Roadmap
The project has a solid road map until 3rd quarter of 2020.
Token sale is in Private-Sale period until September 15th. Pre-Sale period will be implemented between September 15th and October 15th. Public sale will be held between October 15th and December 17th.
Conclusion
Similar to other projects which are to be implemented on blockchain technology, this project proposes values to industry participants including professionals who work for the industry, those people who look for a real estate leasing and landlords who are looking for a tenant for their property.
Since this is a final touch of a business which exist for 3 years, it gives me confidence on the project as an investors point of view. Furthermore, in the technical paper it is obvious that the company made a market analysis. Since they are in this business they know the pain points of the industry and structuring the architecture of the platform(s) accordingly. This is also another positive for the project.
Total supply is a decent figure where there is moderate risk to reward ratio. Hard cap determined is not impossible to attain but might be little high for this bear period. I feel like the team especially founder and advisors have strong contacts with the industry who may participate in the token sale. As a result, hard cap would be achieved.
Website: https://www.agentmile.com/
Downloadable material: https://www.agentmile.com/#white-paper