Proptech: the future of real estate

TECHNOLOGY HAS ALREADY TRANSFORMED THE WAY OF DOING BUSINESS IN THE REAL ESTATE SECTOR. WE TELL YOU IN WHAT DIRECTION THE PANORAMA IS CHANGING. 

In the framework of the Real Estate Business Expo, Damián Gerberoff, Head of sales of Vivanuncios, participated in the panel “Proptech: the future of real estate” where he analyzed how technological advances are changing the way of doing business in the real estate field .

What is proptech?

The proptech field refers to the union of two major concepts: property + technology. In other words, it involves the wave of companies that take advantage of technology to refine, improve or reinvent the services we use and trust to buy, rent, sell, build or manage residential or commercial properties.

It can be said that ‘real tech’ companies serve four main categories:

  • Urban planning
  • Design and construction
  • Sales and acquisition, and
  • Leasing and management.

“Globally, between 2012 and 2016, funding for buyproperty companies increased 1,200%, going from $ 221 million (mdd) to $ 2.6 trillion,” said Gerberoff, without missing any relevant data in national terms, and is that in Mexico 80% of home searches start on the internet, something that would have been unthinkable in the past.

Changes in the real estate market

According to the executive, although the signs to advertise a property for sale continue to work, the reality is that platforms such as Vivanuncios, eBay’s real estate portal , have managed to use technology to offer added value.

“We partner with Google to offer in each online search an interactive map that allows people to know not only the location of the house that interests them, but the real estate offer (for sale or rent) that is in that area, what level of traffic there, what schools are nearby. All this information is vital for those who are going to invest in a home ”, he explains.

Although in Mexico there is still a long way to go, Damián Gerberoff emphasized the companies that in other countries are already making reality the panorama that here still seems disruptive. In Europe, for example, there are companies that carry out the entire housing rental process – from search to administrative management – 100% in the virtual sphere; Other companies provide a plus to home buyers through augmented reality to show in real time and through an iPad or smartphone the full potential of a home through elements of decoration and interior design.

“Everything points to the future of real estate continuing on this path, companies are undoubtedly facilitating and streamlining processes, bringing them within reach of a cell phone, making appointments through a bot. Smart homes in smart city will be positioned in the market as a complement to this type of action, the lights will be turned on before the interested person – who previously scheduled his visit through his cell phone – arrives at the property. The change is going to be impressive ”, concluded Gerberoff.