A South African real estate technology company, PropSource has secured an undisclosed amount of money to expand its residential product line.

PropSource is a commercial real estate company that works with listed nationals, or reits, to fill gaps in their property portfolios. The startup’s property database, which contains over 3,500 vacancies, was constructed using technology.

Early this year, an unnamed investor gave the business an undisclosed amount of equity capital to help it develop a product for the home market, which is now available to everyone.

Percival van der Walt, the founder and director of PropSource, says that the company has been working on setting up a turnkey system for property management, sales, and lead generation.

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He says that the goal is to permanently close the gap between real estate and technology for all landlords, tenants, and, of course, most importantly for us, our agents.

The startup's system started out by giving businesses leads, but it quickly improved to the point where it can now give business agents exact matches of properties that meet their clients' criteria.

According to van der Walt, brokers don’t even need to go look for a property personally because everything is fully automated.

The market response has been quite encouraging, and by the end of 2022, we want to have more than 100 agents using our system.