What Property X does

Property X is a privately held, founder-operated real estate agency headquartered in Melbourne, Australia, providing residential sales, property management, leasing concierge, and building management services across Melbourne's CBD and inner suburbs. The firm was founded circa 2010–2011 and operates from two locations — the Melbourne head office at 25 Katherine Place and a Collingwood office at 48 Stanley Street — with a team of 11–50 employees. Its property management portfolio spans more than 600 tenancies distributed across three senior leasing executives, complemented by a residential sales team and a building management division that delivers on-site and off-site services including maintenance, cleaning, OH&S, concierge, security, and valet support.

The company's core products are service-line based rather than technology-based: Residential Sales (transaction-fee commissions on apartment and house sales in the $275K–$1.155M range observed in active listings), Property Management (recurring fees on the 600+ tenancy portfolio), Leasing Concierge (a differentiated offering providing tenants with access to off-market and soon-to-be-vacant rental properties), and Building Management Services (managed services for residential buildings). There is no proprietary technology platform, no AI/ML capability, no API or SDK surface, and no app product — the website functions as a listing portal and lead-capture channel. All service delivery is human-relationship-led through direct agent-client engagement.

Property X generates revenue through four streams: commission-based residential sales transactions, recurring property management fees on its 600+ property portfolio, concierge leasing services (professional services), and managed building services contracts. Pricing is not publicly disclosed; sales and rentals are individually quoted per property. Go-to-market is sales-led through dedicated agent teams and the company website, with supplementary presence on LinkedIn, Instagram, and Facebook. Customer concentration is low — the base is fragmented across individual buyers, sellers, tenants, and landlords — and the company serves exclusively the Melbourne domestic market with no international footprint. Ownership is concentrated with Director Kallay Lawandi, who brings 30+ years of industry experience and has represented over $1 billion in property transactions; no external investors, funding rounds, or parent companies are evidenced.

Name

Property X

Legal name

Property X

Website

https://propertyx.com.au

Company type

Private

Founded year

2010

Operating status

Operating

Headcount range

11–50 employees

Short description

Property X is a privately held Melbourne-based real estate agency offering residential sales, property management (600+ tenancies), leasing concierge, and building management services to buyers, sellers, tenants, landlords, and building owners across Melbourne's CBD and inner suburbs.

Ownership category

akta.pro rank

Product category

Real Estate Services

NAICS

Residential Property Managers (531311), Real Estate Property Managers (53131), Offices of Real Estate Agents and Brokers (5312)

SIC

Real Estate Agents & Managers (For Others) (6531), Operators Of Apartment Buildings (6513), Operators Of Nonresidential Buildings (6512)

akta.pro primary industry

Multifamily Apartment Property Management (BPAJAFAA)

akta.pro secondary industries

Buyer Representation Services (BPAJAAAJ), Residential Real Estate Asset Management (BPAJAMAA), Property Management Advisory & Leasing Administration (FSAEAJAN)

Keywords

• Residential real estate sales
• Property management services
• Leasing concierge services
• Building management services
• Apartment leasing

Headquarters

HQ city

Melbourne

HQ country

Australia

HQ region

Oceania

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Infrastructure, Supply Chain

Revenue model

1. Residential Sales Commission: Commission-based revenue from residential property sales transactions, working with buyers and sellers in the Melbourne property market.
2. Property Management Fees: Ongoing management fees from a portfolio of over 600 residential properties across Melbourne.
3. Leasing Concierge Services: Unique concierge service focused exclusively on sourcing properties for prospective tenants, providing access to rental portfolio and off-market properties.
4. Building Management Services: Comprehensive building management including maintenance, cleaning, OH&S procedures, concierge, security, and valet services for residential buildings.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels5 records

Core offering

Property X is a Melbourne-based real estate agency that sells and leases residential properties, manages a portfolio of over 600 rental properties on behalf of landlords, operates a tenant-focused Leasing Concierge service providing access to off-market rentals, and delivers Building Management Services covering maintenance, cleaning, OH&S, concierge, security, and valet operations for residential buildings in Melbourne's CBD and inner suburbs.

Product overview

Property X is a real estate services company offering an integrated suite of property-related services. The core offerings include Residential Sales (property sales and appraisals), Property Management (managing residential portfolios including 100-300+ properties per executive), and Leasing Concierge Services. Supporting these is the Building Management Services (BMS) division which provides maintenance, cleaning, security, concierge, and valet services for residential buildings. The company operates exclusively in Melbourne's CBD and inner suburbs, with a team of dedicated specialists across sales, leasing, and building management.

Differentiator

Problem solved

Functional benefit

Products and services

• Residential Sales

Named customers3 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators3 records

Recent moves5 records

Expansion highlights3 records

Broad incumbents

• McGrath Estate Agents: Large Australian residential real estate agency with strong presence in Sydney and Melbourne. Comparable because both operate in residential sales, property management, and project marketing across Melbourne's inner suburbs, though McGrath is materially larger and listed.
• Ray White: Australia's largest residential real estate franchise network with significant Melbourne footprint. Comparable because both offer residential sales, property management, and leasing services, though Ray White operates a franchise model with significantly greater scale.
• Harcourts Australia: International real estate franchise with established Melbourne operations. Comparable in offering residential sales, leasing, and property management services, though operating under a global franchise structure.

Direct peers

• Marshall White: Premium Melbourne-focused residential real estate agency operating in the same inner-suburban luxury segment Property X targets. Highly comparable given shared geography (Melbourne CBD and inner suburbs), buyer/seller focus, and high-value transaction orientation.
• Jellis Craig: Melbourne-based residential real estate agency with strong inner-suburban presence. Comparable because both compete in the same Melbourne inner-suburban sales and property management market with similar boutique-to-mid-market positioning.
• Little Real Estate: National residential property management specialist. Comparable because both focus on property management portfolios for investors, though Little operates at significantly larger scale across multiple Australian cities.
• Buxton Real Estate: Melbourne-focused residential real estate agency. Comparable given shared Melbourne inner-suburban focus, residential sales and property management offerings, and similar mid-market boutique positioning.
• Nelson Alexander: Independent Melbourne-focused real estate group operating across inner-northern and western suburbs. Comparable because both compete in the same Melbourne residential sales and property management segment with multi-office independent operations.

Others

• REA Group (realestate.com.au): Australia's leading property portal and broader PropTech ecosystem player. Not a direct competitor but a key enabling/distribution channel; increasingly competing via adjacent services like agent referrals, creating platform risk for traditional agencies like Property X.
• Domain Holdings: Major Australian property portal with growing agent and services businesses. Comparable as a marketing/distribution dependency that increasingly competes in adjacent verticals, posing structural pressure on independent boutique agencies.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Property X