BMJ Score: 3.5
Quick Summary40 Investors read this
CommentaryWe think that commercial real estate is an excellent market for blockchain. With the aim of combatting the cumbersome, costly, and time-consuming nature of real estate transactions, AgentMile incorporates blockchain- based contracts to transform inefficient property searches, difficult cash management resulting from unavailable data, and static property visualization. While the team has a detailed project roadmap, the lack of a functioning platform gives us some concern that AgentMile to fall behind some of its competitors in this fiercely-contested space.
- How to invest: Join the whitelist to participate in the pre-ICO. Agentmile accepts purchases via Ethereum, Bitcoin, Bitcoin Cash, Litecoin and FIAT via bank/wire transfer.
- Discount: 50% bonus throughout pre-sale.
- Eligibility: You cannot buy AgentMile estate tokens if you are (i) a green card holder of the U.S., or (ii) a citizen or a resident (tax or otherwise) of the U.S., Puerto Rico, the U.S. Virgin Islands, or any other possessions of the U.S., Singapore, People’s Republic of China, or South Korea.
- Token Price: 1 Token = USD $0.20
- Jurisdiction: Falls under the jurisdiction of Estonia, Hong Kong, and Thailand.
- Problem addressed/solved: AgentMile looks to tackle some lingering industry problems, including antiquated and disparate technology, time-consuming property search and transaction times, static property visualization, inaccurate and unverified property data, complicated property and cash flow management, and unwieldy customer logistics.
- Target customers/customer/ segments/verticals: AgentMile’s target market includes major real estate firms and the associated agents/brokers. A few of their notable clients are Century 21, PropertyGuru, and Coldwell Banker. The entire ecosystem includes landlords and tenants as well.
- Value creation: AgentMile offers value for its user via the following: CRE property search will now be an easy, quick and transparent experience; digital identities of people and properties will exist on the blockchain to facilitate due diligence checks; Smart Contracts will simplify property/cash flow management and reduce transaction dependency; industry benchmarks and data will be open for all, yet incorruptible, secure, and not subject to commoditization; AI will determine the best match for clients; and VR-enhanced listings will deliver real-time enhanced visualizations of properties.
- Competition: AgentMile includes a comparison chart in their presentation, showing their distinct advantages over CIMLS and Excel as CRE platforms. It’s clear that Excel and CIMLS pale in comparison to the functionality of AgentMile, but blockchain-based projects related to real estate continue to pop up. They’ll likely hit more competition other than basic platforms. Having said that, AgentMile has a specific focus on CRE, attacking more of a niche in the real estate industry as a whole.
- Market size/potential: CRE has turned into a global asset class and is attracting record institutional investment. Global transaction volume registered for all of 2017 volumes to over $600 billion USD. According to AgentMile, “76.9% of the CRE C-level and senior executives say that investment in technology and process improvement to support their firm’s asset and portfolio decision making is a business priority.”
- Regulatory risks: Regulatory risks include: compliance with property tax and reporting requirements and governmental impact on market rent, vacancy rates, and property values. Unlikely to be made available in the US due to SEC's regulations.
- Investor value: The value for the ESTATE token will come from the demand the AgentMile platform generates. Their relationships with current customers could mean an immediate jump in value as the platform opens and current clients rush to take part.
- Disclosures: AgentMile goes above and beyond, supplying investors with a white paper (85 pages), lite paper, one-pager, presentation, token sale terms, and the code for their smart contract which can be found here. Their roadmap contains a wealth of information regarding their past and future operations. AgentMile also has a roadshow where they discuss exciting opportunities behind the AgentMile project. Destinations include: Las Vegas, London, Hong Kong, Singapore, Bangkok, Tel Aviv, and San Francisco.
- Token distribution: 71% token sale, 12% bounty and advisors, 10% reserve fund, 7% team.
- Use of proceeds: 45% research and development, 25.8% sales and marketing, 14.4% admin and operations, 8% partnerships and acquisitions, 4% contingency, and 2.8% legal.
- Track record: The AgentMile company was actually established in 2015 under the name “AgentDrive”. AgentDrive was an award-winning real estate CRM and marketing platform. It’s the reason they’re already used by over 1,000 real estate professionals in 20+ countries. They subsequently launched AgentGrow, a real estate website builder. The team expects AgentMile to revolutionize the CRE industry led by the CEO, Wladimir Baranoff-Rossine. Wladimir is a serial entrepreneur who founded numerous, successful startups prior to AgentMile. He was able to raise millions of dollars for both Shopgate and MobiCart and, in the process, was nominated for the ME top 50 Mobile Innovators Award. CTO Angel Nieto has extensive knowledge of blockchain and development. Notable advisors include: Herb Kim, who serves on the Board of Directors at Tech City UK and a founder of Thinking Digital, Limited; Manuel Detogni, managing director at Coldwell Banker London; and Nigel Salmon, managing director of Girasol Homes Spain and Portugal.
- Integrity: The AgentMile team consists mostly of people who have been there from the start of “AgentDrive”. Their team chemistry and prior experience give them a leg up on other projects that begin their companies with the help of an ICO. Their foothold in the industry and prior experience should help propel the company forward at an accelerated rate.
- Wladimir Baranoff-Rossine, Founder & CEO (LinkedIn)
- Ángel Luis Quesada Nieto, CTO (LinkedIn)
- Ronald Kozielecki, Operations Manager (LinkedIn)
- MVP: AgentMile has the launch of their platform scheduled for the end of Q2, but there’s no sign of an MVP on website or white paper. The core structure of the AgentMile platform has already been developed and will enable token holders to access the AgentMile platform and list properties immediately after the sale.
- Token use case: An ERC20 token, the ESTATE token will function as a reward for users that review a property, promote a property, share data, complete a lease and rental agreement, or simply register on the platform. The ESTATE token will be a form of payment for such services as publishing properties and leasing and renting a property. Having said that, fiat currency is also an acceptable form of payment, slightly diminishing the value of the ESTATE token.
- Value-added: The token functions as both a reward and form of payment. It adds value as a simple, easy, and fast means of payment/reward, but it loses value since you can also use fiat on the platform.
- Decentralization: AgentMile aims to transform this $3385 trillion industry by introducing the first decentralized CRE leasing platform powered by artificial intelligence (AI).
- Token Supply: 100,000,000 ESTATE tokens.
- Technical difficulty/investment expertise needed: AgentMile is creating a platform that solves a variety of problems within the industry. The main goal of AgentMile is to improve all aspects of CRE with one platform. The specific improvements stemming from blockchain integration take a little time to understand, but AgentMile has an excellent 85-page whitepaper to explain details fully. Overall, it’s a platform that the average person could certainly learn.
- Halo effect: The AgentMile project has only three listed partners, all of whom offer blockchain advisory services. Their main partner, ICO Box, is a relatively well-known name in the crypto sphere.
- Buzz: AgentMile has a strong digital presence, with 3 blogs per week and over 160 articles, though their top article sits at just over 140 total engagements. They have an additional 463 followers on Facebook, 683 on Twitter, and 570 on Telegram. AgentMile already has a foothold in the real estate industry with their past projects, but they still need to generate buzz so people can get excited about their newest innovation.