This document discusses McMakler, a leading hybrid real estate agent in Germany. It summarizes how McMakler has evolved the real estate transactions process through technology. McMakler's central software platform, ImmoForce, increases agent productivity 8 times and allows the business to scale exponentially as agents and processes become more efficient. As a result of increasing scale and margins, McMakler has seen continuous profitability growth.

1. NOAH Conference Berlin – June 2019

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3. HOW HAS TECHNOLOGY EVOLVED IN THE PAST 50 YEARS?
1965 2015

4. AND HOW HAS TECHNOLOGY IN REAL ESTATE
TRANSACTIONS CHANGED?
1965… 2015…
No new tech in the value chain

5. THE LAST COUPLE OF YEARS HAVE SEEN NEW MODELS
BRING CHANGE TO THE INDUSTRY
Hybrid Agent Model iBuyer Model
Marketplace Inventory
Seller
Buyer
Seller
Buyer
Agent
Agent
InventoryAgent

6. 250
Agents across
DE & AT
WHAT IS MCMAKLER TODAY?
€1bn
Real estate
traded p.a.
The leading hybrid agent in Germany

7. THE CUSTOMER PROPOSITION
Sell faster
than the market…
…at maximum price
achievable…
-45%
… with the best
customer experience
Notes:
- McMakler sells properties 45% faster than the market average (Source: www.ihr-maklervergleich.de, Feb 2019)
- Price Increase describes the % increase from starting ask price to final transaction price
+7%
vs. listing price
9.3
4.7

8. MCMAKLER’S IMMOFORCE THE CENTRAL HUB BEHIND
ALL OPERATIONS
▪ Book your
appointments
▪ Track all
processes
and docs
▪ Apply for
loans
▪ Firm-wide
communication &
task management
▪ Real-time
property valuation
▪ Inventory
management
Customer-Facing Agent-Enabling

9. THIS ENABLES MATERIAL AGENT PRODUCTIVITY
INCREASE
Our ImmoForce software increases agent productivity by 8x
McMakler fully
ramped-up agent
Long-Term
McMakler fully
ramped-up
agent 2018
Avg fully ramped full-
time German agent
McMakler 2017
(incl. freelancers)
Successful transactions per full-time agent per monthApr-18
Jun-18
Feb-18
Mar-18
Jan-18
Jan-19
May-18
Jul-18
Aug-18
Sep-18
Oct-18
Nov-18
Dec-18
Feb-19
Transactions of FT Agents
Trx. Per ramped-up FT Agent
Successful transactions per agent per year

10. BUSINESS SCALES EXPONENTIALLY WITH GROWING
INCREASE IN AGENT AND OTHER PRODUCTIVITY FACTORS
Mar-18
Nov-15
Mar-19
Sep-18
Mar-16
Apr-16
Nov-18
May-16
Jun-16
Jul-16
Aug-16
Sep-16
Oct-16
Nov-16
Dec-16
Dec-17
Jan-17
Feb-17
Mar-17
Apr-17
May-17
Jun-17
Nov-17
Jul-17
Aug-17
Sep-17
Oct-17
May-18
Jan-18
Feb-18
Apr-19
Aug-18
Apr-18
Jul-18
Oct-18
Dec-18
Jan-19
Feb-19
Jun-18
Feb-16
Sep-15
Aug-15
Dec-15
Jan-16
Oct-15
16%
12%
+10%
Revenue development over time
100% Commission revenue
from real estate transactions
Ancilliary services planned
New products to broaden revenue profile
High visibility
Future revenues highly predictable

11. AS A RESULT, SCALE DRIVES
PROFITABILITY
Continuous margin expansion - marketing expenses for future revenues still major cost driver
Twelve-month development
▪ Monthly revenue growth at double
digit %
▪ Gross margin expansion
▪ Gross Margin 3 (after all variable
costs, including backoffice functions)
turned positive
▪ EBIT development reflects the
operational leverage
March 2018 March 2019
Revenue
Gross Margin 1
Gross Margin 3
EBIT

12. MCMAKLER WILL CONTINUE TO BUILD THE LEADING
EUROPEAN HYBRID AGENT
Continue growth trajectory
Grow in our current geographic footprint
Extend market leadership
Retain and extend position as strongest force in the digital real estate market
Technology
Further increase depth of technology in the value chain to drive productivity and service quality

13. THANKS
Your Team
APOBANK

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Managing Director & Founder
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