Unprecedented level of service inquiries - COVID-19

8 April 2020

AssetOwl to provide virtual tours in response to COVID-19 shutdown

Highlights:

• AssetOwl is currently managing an unprecedented level of inbound inquiries regarding its services

• The Company has developed a virtual tour add-on for real estate sales

• Virtual tour add-on to inspector360 will be commercially released this month

Enterprise property management platform provider AssetOwl Limited (ASX: AO1, AssetOwl or the Company) has expanded its offering in response to an unprecedented demand for solutions to enable real estate sales to be managed remotely.

The Company's revolutionary photo-centric property management platform, inspector360, provides a complete photographic record of the state of a property at the new lease entry inspection.

In response to COVID-19, AssetOwl has fast-tracked development of an add-on that enables the photographic record to be used as a virtual tour of properties at sale. Restrictions on home opens and on the ability to undertake routine inspections have put the residential real estate sector under considerable financial and operational strain.

Real estate sales agents are severely challenged by the need to reinvent their processes to be able to display or manage properties with minimal visitation.

Following the imposition of social distancing restrictions, the Company is currently managing its strongest ever level of inbound inquiries regarding its services.

The Company’s biggest challenge since AssetOwl was founded has been resistance to change. That resistance has now changed to an urgent need to re-engineer processes to allow remote inspections and use of comprehensive photographic records that inspector360 provides.

full announcement: https://www.asx.com.au/asxpdf/20200408/pdf/44gszbvzwrz6wz.pdf