In our latest real estate tech entrepreneur interview, we’re speaking with Jatinder Singh, founder of Botplan.
Without further ado…
What do you do?
I am the founder and CEO of Botplan. Botplan is a Real Estate Chatbot company. Our software is a white label chatbot that Real Estate Agents and Brokers can install on their Websites, Facebook, and SMS to engage traffic to these channels and convert more of that traffic into Leads.
What problem does your product/service solve?
There are 2 Million Real Estate agents in US. Combined they spend more than $9 Billion a
year to drive traffic to their sites, listings, and social pages. Less than 1% of the traffic that visits these web pages converts into leads. That is in-spite of the fact that average home buyer is spending 26 hours online searching for their next home? Our solution is focused on solving this problem and converting more of this traffic into leads.
Our unique insight is buried in these fairly common stats: #1: 70% of the new home buyers
sign up with the first agent they meet. #2: Millennials do not like to wait – if an Agent does
not respond to an online inquiry in minutes, the buyers would have already moved on to a
How do we solve this problem?
Unlike the cold “contact us” forms. Our chatbot starts the
conversation with “How can I help you?”. This allows us to engage the customer in
conversation so that we can truly understand their pain points. Once the customer realizes
that we are interested in their questions, they are open to giving us their contact information so that we can connect the Agent with the customer.
What are you most excited about right now?
We just got approved to roll out our chatbot to 1400 agents across two of the country’s most successful real estate brokerages. One of the brokerage is a top 20 brokerage in US based on their annual revenue for 2017. Our teams are super excited at this milestone. Not only that, we have just rolled out a customer success strategy, where we provide Real Estate Agents tips, tricks, and trainings on how to get more engagements from their chatbots and generate more leads. We are getting very good feedback from our agents, and we are psyched to roll out this program to all of our Real Estate clients.
What’s next for you?
Currently our focus is to bring more agents to our platform. For the remainder of this year
we are going to continue to focus on bringing more brokerages online and get more agents
to use our product. We are also raising our next funding round. So we would welcome any
Real Estate Technology investors that are interested to speak with us. We are also feverishly working to expand our Real Estate Advisory board. Anyone who has had a long career in Real Estate, in Tech or as a Brokerage owner, would be a great individual for us to bring to our board.
What’s a cause you’re passionate about and why?
I feel very strongly that childhood is very important phase in everyone’s life. Some of us are fortunate that our parents understood not only how to give us safety and security, but also how to instill values that will guide our path in our life’s journey. But a very large number of children grow up with abuse from their parents – knowingly or unknowingly so. Children who become part of the “system” has an even tougher and troublesome road in front of them. I have been involved in an organization called Preventing Child Abuse Minnesota (PCAMN) as a Board Member and as an Advisor to the CEO. This organization helps the most vulnerable children in our own society by educating parents and communities on not only how to spot child abuse, but also how to stop and prevent it from happening. Organizations like PCAMN are core to making sure that the “opportunities” are equally available to each and every child born in this great country.
Thanks to Jatinder for sharing his story. If you’d like to connect, find him on LinkedIn here.
We’re constantly looking for great real estate tech entrepreneurs to feature. If that’s you, please read this post — then drop me a line (drew @ geekestatelabs dot com).