ClearPath AI has launched a new technology platform, Property AI, aimed at automating routine tasks within residential property transactions. The company announced it has secured £1 million in pre-seed funding to support the initiative.
The Property AI product is designed for estate agencies, utilising artificial intelligence to manage tasks from initial instruction and client onboarding through to offers and sales progression. This includes assembling material information, creating property particulars and memoranda of sale, and preparing communications for buyers and vendors.
The system also monitors transactions, analyses viewing feedback, and tracks property chains and individual sales progress. Its aim is to identify potential delays and flag necessary actions when transactions encounter issues. ClearPath states that the technology can operate independently or integrate with an agency's existing customer relationship management (CRM) systems.
Property AI is one of four products on the company's ClearPathOS platform, which also includes technology for the legal, finance, and compliance sectors. The platform is designed to allow information sharing between authorised participants in a transaction, potentially reducing duplication and manual follow-ups.
Rudi Kesic, founder and chief executive, stated that the AI understands the transaction and performs much of the routine work, bringing in the estate agent for judgement, approval, or client relationship management. ClearPath currently employs over 20 people and plans to create more than 20 additional UK roles as it expands. Its main UK commercial operations are based in Birmingham.