This new generation of real estate startups are using AI and collaboration

This article was written and published in Spanish and has been translated into English via Google Translate. Click here to read the original article.

The first digital platforms for the sale and rental of real estate were limited to classified services where the properties were published. But technology is pointing to new models that point to niche services with added value. In Chile, there are already three startups that offer other online real estate services according to Diario Financiero.

Collaborative buying and selling

The brothers Gonzalo and Cristóbal Asenjo developed OpenHaus, a platform that sells and purchases properties through a particular method: viralization.

This is a collaborative property brokerage system that seeks to share the real estate offers on their social networks. And if a purchase or sale operation is completed, the person in charge receives a monetary commission.

"We seek to do the work of the traditional corridor. People see the properties we have and show them to potential clients, then we take care of the process of showing the property," Asenjo tells DF.

If an operation is completed, the user who referred earns 0.5% of the final commission for the sale. In the case of the user who seeks to sell a property and uses the platform, a commission of 0.3% is generated.

To date, the startup, which started with a capital of US $ 30 million obtained from private investors, has three properties for sale - two houses and an apartment - and Asenjo points out that they are aiming at the acquisition of real estate and users to refer.

During the following months they plan to expand to other cities in the country.

Profitability of second homes

Engineers Francisco Tagle and Cristián Waidele developed a solution to maximize the profitability of second homes and generate income while not in use.

The startup, which this year plans to bill US $ 800,000, is in charge of leases and issues such as the publication of property on platforms, the management of reservations, communication with customers - including collections and payments -, cleaning, maintenance before and after each lease and coordination of check-in-out.

They are currently focused on grouping real estate in buildings and condominiums of second homes.

"We concentrate the operation on a building, so we can take advantage of our presence to deliver a centralized service and operation," Tagle explains to DF.

They have already signed agreements with real estate agencies in Antofagasta, La Serena, Concón, Pucón and Puerto Varas, among others, and plan to add new existing or next-to-delivery properties. They are also in talks with condominiums in different areas of the country and plan to close alliances with ski centers.

"At the end of this year, we expect to be operating in 500 departments grouped in 10 buildings and condominiums in different parts of the country, and in 2020 we estimate to increase our operation to 1,500 units," says Tagle.

Buy properties with machine learning

In 2018, engineers Álvaro Chávez and José Manuel Martínez founded OpenCasa, a startup dedicated to instant purchase –with own capital– and sale of used properties and that follows the Instant Buyer model, a methodology that facilitates the sale of properties, because It is the same company that acquires them.

Supported by machine learning and big data they make the decision to buy a property in less than 24 hours and, without seeing the property, give an initial offer.

"If the buyers think about the offer, an inspector goes to check the property. Then the purchase promise is signed, which allows the business to close in one day and we pay in cash," he tells DF.

Chavez explains that they also have an appraisal model that allows, in less than 200 seconds, to deliver an offer to the seller of the property.

"We used to do it manually. The price granted by the system is based on different algorithms that estimate the market value," he says. In addition, they use fingerprint readers to sign the promise of purchase and sale to avoid going through notary. "

This year they plan to close with transactions for US $ 20 million and reach Viña del Mar and Concepción. They also seek to raise capital to incorporate new technologies, buy more properties and reach other markets, such as Mexico, Colombia and Peru.

This article was written and published in Spanish and has been translated into English via Google Translate. Click here to read the original article.

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