Founder to lead the company into a new era of industry cooperation and technology development
The prospective purchase of Dynamic Methods by realestate.com.au will not proceed.
The founder and CEO of Dynamic Methods, David Howell, said his company would move forward without interruption or issue, continuing to deliver digital forms and contract services to Real Estate Institutes (REIs), agents and property managers across Australia.
Mr Howell said Dynamic Methods had complied with all elements of the ACCC investigation and believed the acquisition, if it had proceeded, would not have caused a lessening of competition.
He said he would keep putting the interests of the industry first.
“While I still believe the acquisition would have accelerated the future of digital forms for the REIs and the real estate industry that Dynamic Methods has championed since 2012, Dynamic Methods will now continue on our original roadmap to deliver new features and benefits for our customers, and collaborate with the industry on delivering technology that makes the creation, sending, signing, administration and compliance of forms streamlined and easy, which has always been our core purpose,” Mr Howell said.
“Dynamic Methods delivers a mission critical software that is relied upon by multiple direct and indirect stakeholders and we are grateful for the trust that continues to be placed on the capability of our Australian team to support millions of dollars of transactions on a daily basis, with 99.99% uptime.”
He said real estate’s position as Australia’s largest capital asset class meant it was important for a local company to remain at the forefront of digital forms and signing solutions. It was imperative for confidence in the industry that a digital forms company continue to focus on developing Australian-centric requirements whilst ensuring the platform is in Australia and the subject of federal security and privacy laws, he said.
Mr Howell said Dynamic Methods respected the decision by REA Group not to proceed with the proposed acquisition, and thanked REA Group for the time and involvement by their senior leadership team in assessing and proposing the prospective acquisition.
“Dynamic Methods has always been a tightly run, profitable company that prides itself on delivering robust Australian-built technical solutions to the real estate industry. It’s what made us an attractive acquisition target,” Mr Howell said.
“Nothing has changed in our fundamentals and I am delighted Dynamic Methods will continue to deliver leading-edge forms technology to the real estate industry and all its stakeholders.”
Dynamic Methods is Australia’s leading provider of legally binding digital forms for the real estate industry. Founded 15 years ago, it delivers workflow efficiency solutions for property services and real estate agents. Its technology allows agents and managers to create contracts, complete forms and applications, collecting signatures of buyers and sellers to formalise documentation. The company is based in Adelaide, South Australia and was a winner of the 2023 Proptech Awards
