ProntoPiso arrives in Valencia

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

There are several startups that have come to reinvent the industry with new formulas and digitizing real estate services. That is the case of ProntoPiso, a proptech that emerged a couple of years ago and that is now available in València, which offers a significant volume of transactions and its dynamic upward market in buying and selling real estate.

The company was born in 2017 by Andrés Pla and Diego Paradinas and under the ecosystem Antai Venture Builder that has driven companies like Wallapop and Globo. Their goal is very clear: guarantee the sale of a property in less than 90 days and if you do not get ahead of the money so that the customer can search your new home without worries. According to Pla, before launching this project, they detected that there was a market segment that with the solutions then "was not well covered" and decided to contribute their experience in the sector to fill that gap.

"The idea is designed for those people who need to be certain that in a given period they will have money for their future plans, mainly to buy another home and have guaranteed the sale of the first so that the seller can find the best buyer," he explains. In Spain, between 20% and 40% of those who sell their home do so in order to buy a new one.

Thus, ProntoPiso guarantees the sale of the property in 90 days and if it has not been able to close it advances the money in that period. If the house is finally closed at a higher price, that difference is paid to the seller. "From the first moment we give the guarantee that if it is sold for more it is taken by the owner and if it is for less we cover it, we assume that risk," details the CEO and Founder of the company.

In addition, this digital real estate platform can reach up to 20% of the value of the property from day one to customers who need an amount to make some immediate payment. Even in some cases it anticipates up to 100% of the price from the first day, but only fulfilling some very specific requirements and in very specific assumptions. If no buyer was finally found, the company would assume the purchase of the property, a situation that has not yet been presented to them. "Our goal is to give the peace of mind that it will have the sale done," says Pla.

Technology blockchain for the valuation of the property

The process starts with a questionnaire on the property to obtain the first appraisal through an algorithm they have created and using blockchain technology to cross data and give that first estimate of the value of the property. "We have data from real estate portals, also information from the Property Registry and the Cadastre and with all that we have made a calculation tool that allows us to fine tune the valuation," he says. However, it will not be until the physical visit to the house takes place when ProntoPiso offers the final price for which it will sell the property.

In order to attract customers and properties, they have agreements with real estate portals and a network of its own, which had offices in Madrid with six employees and 16 workers in Barcelona. For a month they also have a physical presence in València, a "strategic" place, with many opportunities both for their volume of transactions and for investor interest," assures the company's CEO that they already have four properties in the city which will begin to market this month. Since early 2018 ProntoPiso has signed more than 170 properties in Spain.

Looking ahead, according to Jesús Pérez Picó, CMO of the company, his plans go through the internationalization of the company in cities in nearby countries such as France or Portugal and to maintain "a close collaboration with real estate agents".

"We have created a platform to help all agents to digitize in a relatively simple way and to access this product so that it can be delivered to their customers," he concludes.

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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