The new edozo platform, available online and on mobile devices, reports a shift in commercial property professionals turning to the digital platform to verify comparable lease and sale figures. Business rate revaluations in April 2017 will put commercial property values in sharp focus and edozo anticipates rising demand in digital processes to secure commercial property comparables.
edozo’s founders identified a gap in the commercial property market; commercial property surveyors rely on data to do their jobs, yet there was no technology solution available to provide them with accurate data. The platform’s co-founder, Andrew Peacock, is a career chartered surveyor with direct experience of digging around for accurate and reliable comparable evidence. Andrew wanted technology, over time intensive spreadsheets and ringing colleagues to check.
edozo is a self-sufficient easy to use platform that reflects the mindset and benefit of collaborative working. As the only cloud based software platform for surveyors, edozo operates as a network of trust and the data is provided by its users. Comparable data is up to the minute and verified by those who provide it. edozo members each have profile where they can list career history and relevant lease and sale agreements negotiated. Published data is then searched and accurate comparisons – or matches – drawn from these values.
The platform has already seen strong adoption and a vote of confidence from proptech professionals; Alan Gearing, formerly Managing Director at Rightmove, and Mark Witherspoon, Data Services Director at Zoopla have joined as non-executive directors.
Commenting on the initial response to edozo, founder Marcus Ginn said:
“The frustration of needing to check and double-check costly data sourced through traditional subscription databases, was cited by surveyors as the main motive for wanting to formally share their data. We’re pleased to be able to support modernisation in the property space. edozo is a digital solution but it is also a cyber-image of what the surveying profession has always done – record, share and compare – and for this reason it has resonated positively.”
Capital to set up edozo was initially given by its founders, who are currently in the final stages of a first funding round to immediately grow UK market share. edozo also plans to integrate with the different prop tech portals, who offer a further online shop window on the costs of property.
