As real estate professionals by trade, they learned one thing through the course of their careers: properties are more attractive — and valuable — with credible information.
So they set out to develop a Carfax of sorts for the real estate world. Picture a digital storage container associated with a specific and standardized Asset Record number for a given land parcel and property structure. The goal is to increase convenience and transparency for property owners, professionals, lenders, vendors and buyers.
“There’s roughly 140 million land parcels in 3,100 counties, and we’re working to standardize it all so that every single piece of land in the US has it’s own Asset Record,” Wiech boldly asserts, “…and we’re making it proprietary.”
With the natural progression from paper to information technologies, the industry has adopted generic file sharing and FTP practices, but nothing to the extent that Asset goes to, they say. Asset Record Company’s web-based & mobile system enables the owners of any type of property to organize, manage and share the most pertinent information around their property, from architectural blueprints, to financial documentation and maintenance history.
The owner of the Asset Record can access and securely share data with anyone and their team at anytime — whether that be a potential buyer or any of the other 14 roles in the sytem (ie – handyman).
“There’s a lot of old school methods happening in real estate and due diligence remains a time consuming and cumbersome process.” Partner and COO Sam Rosen says, “Asset Record is about convenience, credibility and control. We empower the owner and ease the management and transfer of any real estate asset. It’s something the market has wanted for a long time.”
They are pricing the software at $79.99 one time for residential properties and $249.99 annually for commercial/other.
After wrapping up the friends, family and fools seed round early last year, the company rolled out beta this summer and had acquired paying customers by fall. Asset records are already being created nationally, but Rosen notes that Nevada is picking-up fast and a marketing push in the Chicago area is forthcoming.