Show your support for this innovation. Tweet it. Like it on Facebook. Leave a comment.
The following SMART 100 profile and the information it contains is a duplication of content submitted by the applicant during the entry process. As a function of entry, applicants were required to declare that all details are factually correct, do not infringe on another’s intellectual property and are not unlawful, threatening, defamatory, invasive of privacy, obscene, or otherwise objectionable. Some profiles have been edited for reasons of space and clarity. More about the SMART 100.
Online Project Management Portal (NSW)
This innovation initially came to life when…
Thirdi Property completed a small development in the regional centre of Orange in NSW. The development consisted of 12 townhouses and all were sold to investors not located in Orange (some lived on the other side of Australia). Each investor (excited about their investment) was interested in the progress of their property and would constantly call/email for updates. To help with the task of updating clients, Thirdi created an online project management area where clients could log in and get updates; these included video updates, images of site, invoices and documents. We now have 60+ properties on this platform.
WHAT & HOW
The purpose of this innovation is to…
Streamline the admin and to give us scalability to do more developments. Clients have their own portal, unique to their investment, so they can see their property transform from a raw site to a finished product regardless where they’re located.
It does this by…
Using the Internet and a number of innovations available through this medium. One of our best features is the use of YouTube/Vimeo to post video from the actual site; it doesn’t get more accurate than that. We also have an area that allows clients to ask questions and download files (invoices etc.) so it makes the whole process easier.
PURPOSE & BENEFITS
This innovation improves on what came before because…
It breaks down the geographical barriers of an investor wanting to invest in another area, but not having the ability to monitor it. Also having the portal allows investors one central location to store all the items unique to their investment, making it easier for them and their consultants to monitor and administrate the investment.
Its various benefits to the customer/end-user include…
Enormous time savings and benefits in the administration of their investment. Our portal ultimately helps reduce the stress and anxiety of doing a property investment. Clients get real-time updates and all they need is an Internet connection.
COMPETITIVE LANDSCAPE
In the past, this problem was solved by…
Phone updates or email updates from their builder. Or if the investor had time, they would have to travel to visit the site and inspect the progress themselves. This portal combined with Thirdi Project management team is the perfect combination of traditional management an innovation using the Internet.
Its predecessors/competitors include…
Other builders that may offer something similar, however to our knowledge there isn’t another project manager or investment property specialist company that has a portal similar to ours. Its features are unique and this is helping with our success.
TARGET MARKET
It is made for…
Any investor that is interested in buying an investment property and wants a “third eye” monitoring how their investment is taking shape. In the professional services industry (financial planners, accountants and mortgage brokers) we are getting more and more enquiry on behalf of their clients. Our portal gives a higher level of transparency on progress of sites and allows fast, real-time access to information. If a financial planner is to refer someone to us, this portal gives them a higher level of comfort their client will be managed in the best way possible.
DISTRIBUTION STRATEGY
It is available for sale through…
Thirdi Property investment network. It is currently being used by 50+ clients building House & Land packages. Due to a recent upgrade of our technology, we now have scalability to provide this service for 200+ properties at a single time.
Our marketing strategy is to…
Continue to promote this through our business-to-business network when we meet new business clients (financial planners, accountants and mortgage brokers). We also own and operate NextHotSpot.com.au which supports 25,000+ investors, so we will promote this via the website as well.
SHARE THE LOVE
You can show your support for this outstanding Australian innovation in three ways:
- Tweet it: Top left of each page
- Trigger a Reaction: Facebook ‘Like’, etc.
- Leave a Comment: Anonymous comments excluded.
More about the READERS’ CHOICE INDEX.
