Property tech platform RESO surpasses $3 billion in offers

RESO, an Adelaide-based property technology company, has announced its online offer management platform has helped more than 130,000 Australians make an offer on their dream home, with combined offers worth over $3 billion.

The platform, which is seeing increased demand from individual vendors specifically requesting it from agents, aims to streamline the offer process and ensure transparency in negotiations.

“No one likes missing out on their dream home,” RESO CEO AJ Chand said.
“In a hot market, you have a lot of buyers, and it’s challenging for real estate agents to nurture multiple competing offers.”

Chand noted that most buyers prefer the convenience of an app that’s always available and up-to-date, rather than relying on emails and phone calls.

“With the RESO app, buyers can instantly see where their offer ranks and make negotiating decisions with the help of transparent data,” he said.

The company is currently uploading multiple listings a week from vendors who have previously used the platform to buy their property.

“Australia’s residential property market is highly competitive. This creates a lot of work for real estate agents and buyers and, as a result, vendors can be left with doubts whether they ended up accepting the best offer,” Chand said.
“The RESO app gives everyone back more time and takes the friction out of the private treaty offer and acceptance process.”

Historically strong in South Australia and Western Australia, RESO is currently growing fastest in Queensland, New South Wales and Victoria.

Chand, who joined RESO as CEO in 2023, also serves on the Board of Proptech Association Australia, the nation’s peak body for proptech ventures.

“My passion lies in driving innovation and evolution within the real estate industry,” he said.