- March 27, 2024
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The somewhat mundane task of doing lien searches before buying a home or property is anything but dull at PropLogix.
For one, the company, which markets itself as a real estate due diligence firm, is on a rocket ship-like growth path. It has gone from less than $1 million in sales for all of 2013 to just about $1 million a month in sales going into 2017. The payroll has gone from nine people to 60 in less than three years, and the office has moved from downtown Sarasota to a south Manatee County office park.
“We want to be a household name in housing services,” says Sarasota entrepreneur and real estate investor Jesse Biter, who bought the company in 2014. The firm, founded in 2012, offers clients a uniform way to search city or county permit departments and other government offices to find fees, liens or assessments on properties.
Biter also has another goal with the company: to build it into a sought-after place of employment. “I can't find tech people fast enough” Biter says.
With a nod to future recruitment, Biter closed out 2016 by initiating an employee stock ownership plan. Biter told the employees about it at a company-wide meeting a few weeks before Christmas. “You guys are at the ground floor of what I expect will be a very successful company,” Biter says he told the employees.
Biter says there are other good things to come for PropLogix, which does work statewide. He doesn't even rule out taking the company public one day. “That's been on my bucket list,” Biter tells Coffee Talk, “to take a company public.”