Australia, Australian CSF Offer Fintech , Technology

Abodey

Abodey is an AI-powered platform that matches buyers with their perfect home, connects them with trusted experts, and guides them every step of the way – reducing search time to an average of 6 weeks. Led by a passionate team with real estate and technology expertise (including a former agent!), we've already validated our concept and buyer confidence post-purchase with our MVP. We're building the go-to resource for efficient, affordable, and stress-free home purchases. Invest from $250 and own a piece of the future of home buying.

Abodey is an AI-powered platform that matches buyers with their perfect home, connects them with trusted experts, and guides them every step of the way – reducing search time to an average of 6 weeks. Led by a passionate team with real estate and technology expertise (including a former agent!), we've already validated our concept and buyer confidence post-purchase with our MVP. We're building the go-to resource for efficient, affordable, and stress-free home purchases. Invest from $250 and own a piece of the future of home buying.

Australia, Australian CSF Offer Fintech , Technology

Abodey

Team of Abodey

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Abodey

Team of Abodey

Reasons To Invest

  • Disrupting a Broken Industry: Abodey addresses a massive untapped market by supporting home buyers from the very beginning – the decision to buy. We're changing a dated, expensive process with a modern, efficient solution.
  • Early Traction & Validation: Abodey’s initial tests with a limited pool of buyers showcase significant results. Abodey’s platform has helped customers purchase their homes well below the original asking price, saving them at least $30,600 over the last 3 months, and has reduced the buying time from 6 months to 6 weeks!
  • AI-Powered Personalised Journeys: We use cutting-edge AI technology to personalise every home buying experience, tailoring the process to buyer needs, lifestyle, and budget.
  • Strategic Partnerships & Ecosystem Building: Existing partnerships with key players provide immediate access to a valuable customer base. We're also exploring partnerships to offer a truly end-to-end buying and selling experience.
  • Untapped Market & Growth Potential: An estimated 370 capital-ready Australians were discouraged by the buying process, leaving $259 million.

 


Who is Abodey

Abodey is the new and affordable way to buy a home. We’re reinventing the wheel to provide our customers with AI driven insights, personalise the journey to each person, reduce the home buying time from 3-9 months down to 6 weeks and lead our customers through the complex home buying journey with transparency, support and efficiency. With AI technology’s latest advancements, Abodey is well equipped to service our customers in a unique way.


The Problem

Overpaying is a Nightmare:  45% of buyers fear they'll pay too much, and with good reason. Shockingly, 1 in 3 actually overpay, with 1 in 2 facing surprise costs and 37% exceeding their budget. This translates to lost money for buyers and a market ripe for disruption.

Time Wasted is Money Lost: 18% of people spend over a YEAR searching for a home. Even after finding a property, the process drags on, taking 3-6 months to close. In total, Australians waste an average of 9 stressful months on the market. 

Emotionally Draining Rollercoaster: Our survey reveals 88% of first-time buyers feel stressed, and 30% hesitate to buy due to the overwhelming complexity. This takes a significant toll on potential homeowners.

Buyer's Regret - A Common Tragedy: 61% of buyers experience regret after their purchase. Imagine the disappointment after months of stress.


The Solution

Abodey acts as your personal guide in the home-buying journey. It saves you time, reduces stress, and helps you make smarter decisions, ultimately leading to a more successful and satisfying experience.

How?

Property Matching + Insights: We curate personalised property recommendations and provide detailed reports so you can make informed decisions and save time on research. We use AI to match buyers with homes that fit their budget, lifestyle & property needs. This helps buyers avoid houses that are overpriced for what they offer.

Brody AI Technology: Brody isn't a regular chatbot, he can answer questions about all parts of the real estate process, breakdown jargon and offer guidance, 24/7. With investment, we will be able to evolve Brody and equip him to manage customer communications with their professionals, guide home buyers live, at an open for inspection and even assist home buyers through Auction and negotiation strategies. 

Professional Connections: We connect buyers with vetted mortgage brokers, conveyancers, and inspectors to ensure a smooth ride. Streamlining the process and reducing time spent searching for these professionals.

Buying Strategy sessions: From auction tactics to negotiation tips, Abodey is a personal cheerleader and guide for buyers, we are there every step of the way.

Step-by-step approach: Abodey simplifies the process by breaking it down into manageable steps. The platform provides clear information and resources to help you understand every aspect of home buying.


The Industry

The Australian real estate industry is a cornerstone of the national economy, enabling widespread homeownership. Online platforms like realestate.com.au revolutionised property search, but haven't addressed key buyer frustrations:

Growth Potential:

The global PropTech market is experiencing significant growth, valued at approximately USD 24 billion in 2021. This signals a rising demand for technology-driven solutions to address inefficiencies in the traditional model. The global residential real estate market itself was valued at US$287.6 Trillion in 2022, highlighting the vast potential for innovative solutions.

Other Relevant Points:

  • Market Need: The current system creates frustration and inefficiency for buyers. There's a clear demand for a more streamlined and personalised process.

  • Opportunity for Innovation: PropTech offers exciting opportunities to leverage technology for a smoother home buying experience.

Conclusion:

The Australian real estate industry presents a significant market opportunity for innovative solutions that address the limitations of online listings. By offering AI-powered matching and expert connections, Abodey aims to revolutionise the home buying experience for Australian buyers.


Business Model

At Abodey, we've established a robust B2B2C business model designed to generate recurring revenue and ensure long-term investor returns. Here's a breakdown of our strategy:

  • B2B - Commission-Based Referrals: We partner with conveyancers,  mortgage brokers, building and pest inspectors and other property professionals. When we connect them with qualified buyers seeking their services, our partners pay us a commission referral fee. This incentivises them to use our platform consistently, driving a predictable revenue stream for Abodey.

  • B2C - Tiered Subscription Model: We cater to buyers with varying needs by offering multiple subscription tiers - Free, $150, $300, and a custom-quoted package. This tiered approach provides flexibility and affordability, ensuring accessibility for a broad audience. Importantly, these subscriptions provide upfront revenue, giving our network of professional’s access to pre-vetted, high-quality leads. This translates to a more efficient sales process and increased earning potential for them, further solidifying their partnership with Abodey.

  • Scalability and Future Revenue Streams: Our subscription model provides a solid foundation for consistent revenue. However, we're constantly exploring additional revenue opportunities. This includes trailing commissions from mortgage brokers, where we receive a percentage of the commission, they earn from successfully closing a loan for a buyer identified through Abodey. We're actively working on securing such agreements with leading mortgage lenders.


Business Achievements

Our platform has helped customers purchase their homes well below the original asking price, saving them at least $30,600 over the last 3 months, and has reduced the buying time from 3-9 months to 6 weeks.

Since launching in December, we’ve focused our efforts on a select group of buyers to test the market, working with 36 sign-ups to the platform and another 75 people on the waiting list. Our numbers also showed that our buyers only inspected 3 homes vs the average 11 in a hot market, giving them 73% of their time back. Our services also cut down their research time for industry professionals by 3 hours.

High-level Achievements:

  • Launched MVP in 6 weeks.

  • First sale within 30 minutes of platform going live.

  • Reduced buy time down to 6 weeks with our solution.

  • Conceptually proven AI based algorithm to match user preferences to the property features.

  • Saved our customers an average of $30,600 on their home purchases. 

 

Marketing and Outreach:

  • Created "The NO BS Real Estate Podcast" with 300 active listeners.

  • Sponsoring local football club, the Keysborough Burras, as provider of home buyer assistance.

  • Featuring in "The New Property Show", going live in April.

  • Jo Hosts a local radio show, "Brick by Brick", with partnered mortgage broker, Jamie P - every Tuesday 3-4pm on Casey Radio 97.7fm - educating the community about all thing's real estate and finance. 

  • 75 on waitlist with interstate interest from Brisbane, NSW, and Adelaide.

  • Hosted successful webinar event with 50 homebuyers in attendance.

  • Featured on Ticker news. 

 

Testimonials and what some of our customers have to say:

Michelle: 

"Abodey was an incredibly helpful tool in both selling my home and purchasing my new one. At times I had difficulty knowing what advice or information to act on and the resources of Abodey acted as a great guide to help me think critically about all the information that I had access to as well as providing me with unbiased data. In the process especially of purchasing my home, the team at Abodey helped me identify the various steps I needed to complete to successfully find and purchase a home. This included providing a rich and detailed report about the homes I was looking at which included not just financial statistics but also information about the community that illustrated how my personal needs might be met by both the home and suburb I was considering. Further to this, the detailed information around suburb prices both presently and over time helped me to make informed decisions about what would make for a reasonable offer and which properties might make for the smartest purchases in the long run. Once Abodey had gained an understanding of what I was looking for in a house they were also able to provide suggestions from different suburbs and in different price ranges that might meet my varied needs. I ended up purchasing one of the houses suggested by Abodey.  Through the purchasing process, I worked directly with Jo who talked me through various strategies for putting in an offer and working through the different stages of negotiations. She put me in touch with specialists such as a conveyancer, building and pest inspector and financial advisor and helped to arrange timely meetings to ensure my offer and final purchase were all conducted efficiently and effectively. Working with the team at Abodey helped alleviate many of the pressures and stresses that come naturally with such a huge investment and I'm very grateful for everything they did to aid me through the process."

Maria: 

"The team at Abodey were outstanding in helping me purchase my property. From the moment I contacted the team of my intention, Jo was by my side guiding me through the entire process. This began with a questionnaire of the type of property I wanted and where. The questionnaire helped me to make an informed decision about my preferences and what I would consider negotiables and non-negotiables. The questionnaire was then used as the foundation for detailed property reports regarding price, suburb amenities and infrastructure.
Once the decision was made to purchase the property I had in mind, Jo and her team worked tirelessly to put me in touch with the required specialists who would make this dream a reality such as conveyancer, mortgage broker, building and pest inspector. Kudos must go to them as well for also going above and beyond. They were professional and worked outside business hours to ensure that paperwork and documents were completed.
The negotiations for the property were handled by Jo. Her knowledge of real estate - median prices, laws etc - is outstanding. She worked to ensure that I was able to place an offer be successful in a timely fashion.
There is no way I could have handled the stresses which come with such a purchase on my own. I really appreciate the time and effort that Jo and her team put in to help make my dream a reality."

Dom:

"Massive shout-out to the team at Abodey! I’ve learnt so much on this home buying journey and I couldn’t have done it without you, Jo! The support and guidance throughout the whole process was amazing!
I highly recommend Abodey to anyone who is looking to purchase a property but is unsure of where to begin. The education of all thing's real-estate/finance/ conveyancing helped me understand the home-buying process. Thank you"

 


Risks

Early Stage PropTech Startup: 

  • Risk: As a new company, Abodey is still establishing its market presence and user base.
  • Explanation: While early-stage ventures offer high growth potential, there's also a possibility of not achieving product-market fit or encountering unforeseen challenges.
  • Mitigating Factors: Abodey's strong team with proven experience in technology and real estate reduces this risk. Our focus on user experience and addressing a clear pain point positions us well for success.

Market Conditions: 

  • Risk: Fluctuations in the Australian real estate market, like a potential downturn, could impact user adoption and growth
  • Explanation: A buyer's market with fewer transactions could lead to decreased demand for Abodey's services.
  • Mitigating Factors: Abodey offers value regardless of market conditions. Our platform streamlines the search process, saving time and money for buyers in any market. Additionally, Abodey can adjust its marketing strategy to target different buyer segments during market fluctuations.

Tech and Cybersecurity:

  • Risk: Data breaches or technical glitches could damage user trust and disrupt operations.
  • Explanation: Cybersecurity threats are a real concern for any tech company. Technical issues could frustrate users and hinder user adoption
  • Mitigating Factors: Abodey prioritises robust security measures to protect user data. We invest in continuous system monitoring and upgrades to ensure a smooth user experience.

Government/Legal/Policy Changes (Real Estate Act Changes):

  • Risk: Regulatory changes or amendments to the real estate act could necessitate platform adjustments or limit functionality.
  • Explanation: Shifting regulations could require Abodey to adapt its technology or services, potentially impacting development timelines or costs.
  • Mitigating Factors: Abodey closely monitors the regulatory landscape and proactively adapts to ensure compliance with any legislative changes. Our platform is designed with flexibility to accommodate potential future regulations.

Use of Funds

The funds raised will be strategically allocated to fuel Abodey's growth and accelerate our mission of revolutionising the home buying experience. Here's a breakdown of the investment plan;

Minimum Investment ($150,000):

  • We'll launch a user-friendly mobile app with features like enhanced personalised reports, real-time updates, and automated property matching, significantly streamlining the home buying process.

  • Our strategic marketing efforts will build brand awareness and attract potential buyers seeking a faster and more efficient home buying experience.

  • We'll establish key partnerships to provide value-added services to our users.

Maximum Investment ($500,000):

  • In addition to the outcomes from the minimum investment, we'll be able to accelerate our growth by:

    • Developing advanced features within the app, offering even greater convenience and functionality for buyers.

    • Expanding our marketing reach and establishing Abodey as a leading resource in the home buying market.

    • Building a robust team to support our expanding user base and further develop the platform.

    • Fueling Innovation with Continuous R&D: A portion of your investment will fuel our ongoing Research & Development (R&D) efforts. This includes continuous user research and feedback sessions with homebuyers across Australia.

The outcome:

By investing in Abodey, you're not just funding a company, you're investing in a future where home buying is faster, less stressful, and more empowering for everyone.


About Swarmer

Swarmer is an Australian equity crowdfunding platform connecting businesses and investors. Designed to support start-ups, growth companies and scale-ups we allow everyday investors to own a share in businesses that are the future. We hold Australian Financial Services License (AFS License #507867). 

Find out more about becoming a shareholder via Equity Crowd Funding.