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AM Open House
Company description
We’re taking the “pen” out of your next “open.”
AM Open House is an Open House app and management platform that was designed with agents in mind. It uses a simple interface that keeps track of your properties, consumer and broker Open Houses while allowing customers to easily sign in and sign out.
Unlike traditional means of gathering information, this platform will allow your customers, or agents, to input information directly into the system for better organization and follow up. We also integrate with multiple CRM companies including: Constant Contact, Contactually, Follow Up Boss, iXACT Contact, Insightly, MailChimp, PropertyBase, Realty Juggler, Salesforce , Top Producer and Wiseagent.
When an Open House is over, a customized email is automatically generated directly from the agent to all of their sign ins allowing them to contact you with any questions or to place an offer. This email also includes a Single Property website, neighborhood information, school information, and a walk score.
Agents like being social, so we integrated Facebook, Twitter, Google+, Instagram and LinkedIn for easy two click posting.
What are we solving?
Real estate is inherently an old business. Until recently, relevant technology has not made its way into the real estate industry. While many applications have hit the market, none offer what AM Open House can offer for an agent’s Open House.
Open House scheduling, marketing and follow up is a daunting task which we were able to make easy and fun for agents and buyers alike. We developed this application to make the sign in process easier for everyone while allowing agents to cut down on their busy work in a huge way.
Market sizeReal estate agentsThe approximate number of real estate agents throughout the country is 1 million.
Mortgage professionalsThe approximate number of mortgage professionals throughout the country is 300,000.
Addressable market sizeReal estate agentsWe are able to address the entire population of real estate agents throughout the country.
Mortgage professionalsWe are able to address the entire mortgage professional population throughout the country.
Market Strategy
Having agents use the system is the first and foremost thing that we must accomplish. In just 5 short months, we have over 1,000 active real estate agents in our system with over 1,500 downloads of the AM Open House app across both platforms, iOS® and Android™. We have accomplished this by word of mouth, social advertising, and trade shows.
We offer a free product for real estate agents both for download and use. This has been instrumental in getting agents to use the system.
How will we make money?
We have multiple places where revenue streams are created as well as the determination to create other opportunities.
Real estate agentsThrough our Open House management platform, we offer premium website access. While this has no direct effect on the app, it allows agents who are more comfortable in front of a computer to do more with our website. This premium website access costs $4.99 per month or $49.99 a year.
Mortgage professionalsMortgage professionals receive direct access to an agent’s leads within the system. They can select any active agent in the system who has at least one property uploaded. When doing this, they receive advertising space on the agent’s Single Property websites as well as their own login to see the agents leads in real time. This costs $9.99 per month.
How will we make money?
Broker integrationsFor brokers, we have a fully branded product for agent retention and recruiting. This allows brokers to show their current and potential agents how tech forward they are. • Fully branded with your logo and color scheme.• MLS integration that will allow your agents’ properties to be available within the app
as they go live on MLS, including price changes and image changes.• New Open House generated automatically in an agent’s dashboard every time one is
added on the MLS.• Automatic price change emails sent to any sign ins when a price change is updated
on MLS.• CRM sync with the system of your choice.
We will do all of the above for a fee of $999.99 with a maximum $299.99 monthly fee depending on the amount of agents the brokerage has. The monthly fee is typically passed along to the mortgage professional which allows them to work brokerage wide with agents.
What comes with premium access?Manage propertiesAgents are able to add, edit and delete properties and Open Houses from their account – allowing them to stay organized as they list and sell more properties.
Email and templatesIn addition to the automatic generated emails at the close of their Open Houses within the app, agents will be able to send emails directly from the website without having to switch to their own email client. These emails will always come directly from the agent, and with the available “tagging” options, they can create templates for easy completion of emails.
Edit Single Property websitesAgents can easily add a description and manage Single Property websites via the website. There is no limit to the amount of space they can use in the description and it is automatically optimized for SEO.
What comes with premium access?Manage leads and auto-sync with CRMCRMs are integrated for users who subscribe. Any sign ins are now automatically synced to your CRM of choice between:Constant Contact, Contactually, Follow-Up Boss, iXACT Contact, Insightly, Mailchimp, PropertyBase, Realty Juggler, SalesForce, Top Producer and Wise Agent.
View feedbackEasily download all feedback from a property to show your seller. This allows you to generate a full list from every Open House you have held on a property providing an easy and clean way to show sellers feedback.
CompetitionWhile there are other Open House sign in apps on the market, none do everything AM Open House does.
Examples include• Open Home Pro• Open Hose Toolkit• Open House Manager
The only potential competition is Open Home Pro, which was recently acquired by HomeFinder.com. However, their application does a mere fraction of what AM Open House does for agents, and does not include a companion app for buyers.
Current/future financialsCurrent market shareApproximately 1,000 agents• When all 1,000 agents are partnered with a mortgage
professional, this will generate $10,000 per month.• Currently, there are less than 100 agents partnered, as we
launched this mortgage integration at the end of November, 2014.
ProjectionsAt the current pace of growth, AM Open House will have over 15,000 agents by the end of 2015.• Once all 15,000 agents are partnered with a mortgage
professional, this will generate $150,000 per month.
Market shareShould AM Open House be able to acquire 25% market share, this will give us approximate 250,000 agents in the system.• Once all 250,000 agents are partnered with a mortgage
professional, this will generate $2,500,000 per month.
Team
Anthony MannCEO and Founder
Contractors/ConsultantsAndrea JoffeMarketing
Shahbaz KhanLead App Developer
Adrian MohammedLead PHP Developer
Rahul SinghLead API Developer
AM Open House for Buyers
Recently, AM Open House launched a companion app to the original AM Open House app. This companion app allows buyers to easily sign in to Open Houses, save properties as favorites, see any Open House they have previously attended and search for any properties that are within the AM Open House system.
AM Open House has received an unbelievable response to this add on, as this is something that has never been done in the real estate industry. Buyers and agents alike are loving it as it cuts down on time spent gathering information and allows agents to immediately show the properties they want to sell!
