Evolving from PropertyIDX to Sonoture
Sonoture was initially called PropertyIDX and functioned like a real estate marketplace, but the CEO/founder of the company, Ashkán Zandieh, had the foresight to see that the marketplace model is not a great fit for commercial real estate.
He saw that brokers turned to commercial real estate marketplaces when their listing was struggling to sell. He understood that the marketplace model was not innovative, and he didn’t want his company to be associated with a lack of innovation.
Gradually, PropertyIDX moved away from being a commercial real estate marketplace and more towards lead generation and providing brokers with Software as a Service (SaaS). With the change in business focus came a change in name and branding too. Thus, PropertyIDX evolved into Sonoture.
The commercial real estate market in New York City is huge. Sonoture indexes and analyzes prospective buyers and then communicates with owner/operators, brokers, and investors. Managing all of this information and ensuring that communications are sent in a timely manner to ensure success for brokers, buyers, sellers, and investors is a laborious task when done manually.
Sonoture wanted to ensure that they were communicating as efficiently and accurately as possible. They came to the realization that this problem required automation.
Sonoture also needed web responsive design services to bring their brand to life online and provide their users with an engaging online experience.
The Development Process
Development is a collaborative process at Koombea, and we choose the development tools best suited for the project at hand. Sonoture’s web application was built using Ruby on Rails and React.
During the development phase of the project, Sonoture was in constant contact with the development team. This included daily check-ins to track progress as well as access to communication and project management tools such as Slack and Jira.
When the project was completed, Sonoture was given a complete walk-through of their product and was able to fully demo their new product as well as test every feature.
Sonoture’s Co-Founder Message One
The Result of Automation
Creating automation solutions is never a simple task, but through hard work, perseverance, dedication, and constant communication with the Sonoture team, the development team at Koombea was able to create and implement an automation solution that worked.
The result of automation for Sonoture was better email marketing performance. The company saw a 3-5 percent increase in conversions attributed to its email marketing campaigns. However, numbers aren’t the only thing that matters to Sonoture.
With automation, the company found that they were saving a lot of time. Previously, they had to craft email campaigns by hand and worry about making sure that they were sent on time. This took up valuable time and caused stress.
Sonoture’s Co-Founder Message Two
A New Approach to Commercial Real Estate: Sonoture’s Innovative Service
Sonoture’s platform is modernizing the commercial real estate industry. Some of the key features provided include:
- Identifying prospective buyers for commercial real estate
- Automating the canvassing process for investment sales brokers
- Increasing marketing coverage for investment sales brokers
- Increasing average conversion rate of conventional brokers by 3-7x
The Benefits of Working with Koombea
Sonoture enjoyed a number of benefits by working with Koombea. They include:
- A diligent development team that continues to provide assistance after product delivery
- A team that is excited by learning and facing new challenges
- Guided development process and clear communication
- Feedback and assistance making strategic tech decisions for long-term success
- An extended team of development experts
Sonoture’s Co-Founder Message One
The Next Step for Sonoture
While the company currently works exclusively in New York City, Sonoture is eyeing expansion into additional markets as they grow. Innovation is a major component of growth and long-term success, and thanks to the automation features Koombea was able to develop for Sonoture, the company is innovating the commercial real estate market and has plans to grow beyond the Big Apple.
While there are many challenges still to come, Sonoture has taken a strong step forward and is continuing to work on innovating the commercial real estate industry.
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