Perth-based mobile application developer Applabs Technologies is looking to spin-off its recently launched Home Open app into its own company, to facilitate an Australia-wide rollout.
The Home Open app, which is available for iPhone and Android devices, allows real estate agents to tailor information for specific listings, which is then sent directly to a potential homebuyer’s phone.
Consumers who download the app can also use it to register interest or make an offer on a property.
The company has appointed Nova Legal to assist with the spin-off, which will be designed to allow the development of strategic partnerships and services agreements with major real estate companies.
Applabs managing director Patrick Glovac said the company was also reviewing its options in offering equity stakes to major real estate partners.
Mr Glovac told Business News the timing was right for Home Open to stand on its own.
“We’ve gotten to the point where you can only incubate in-house to a certain level,” Mr Glovac said.
“At some point you have to wrap a management team around it and give it its own life.”
He said the search was already under way for a chief executive and chief financial officer to guide Home Open through a comprehensive Australia-wide rollout.
