From Tinder to Netflix: Real estate companies turn to ‘apps’ to hunt millennials

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

Virtual visits to the Facebook Live image or comments as in Tripadvisor, the sector reinvents itself to adapt to new technologies.

With an expanding market and an ever more demanding demand, real estate agents are constantly looking for ways to attract a type of customer that has completely changed the way they consume, especially through e-commerce. According to "Mobile 25-34" by smartme Analytics, millennials consult their mobile applications every 10 minutes, that is, 21.7% more than the rest of the population. It is not surprising that the sellers of flats have wanted to adapt to this reality and get positioned in front of these young people who, on the other hand, are the population group that demands the most housing.

So much so that the investment in real estate start-ups in 2017 came to move some 2,600 million dollars (2,100 million euros change) worldwide and grew 40% in Spain, according to the Association of Promoters and Builders of Buildings of Catalonia (APCE). To do this, in the image and likeness of the most popular 'apps', real estate companies have launched a series of products that 'mimic' the functioning of social networks preferred by young people.

In this context, DynDong, a real estate platform based off of Tinder, was created. The operation is very simple. An owner (Dong) seeks to sell or rent your property and will have the opportunity to notify potential buyers or tenants of the existence of your property by giving them a Touch. In addition, the valuations among users, will facilitate the election of your future tenant. The person looking to buy or rent (Dyn) can either touch the owner of the property in which he is interested or wait for the ideal house to find him. So that two people can close an appointment they have had to make a 'match', that is, accept. According to one of its Founder, Jose Carlos Fornieles, users who want to buy or rent "have a simple platform in which to find your property without intermediaries or commissions".

The express real estate, which ensure the sale in 90 days, conquer the market

Uber also has its real estate version, created, precisely, by the founder of the vehicle platform. The operation of Haus, whose interface is very similar to Uber, copies many of the parameters of this application. The agent publishes a property indicating its characteristics and its minimum price and the buyer "follows", as if it were a car, the chosen dwelling. In this way, you are aware of any modification or new offer made about the house. Once both parties accept the offer, they agree to sign a binding contract on the purchase-sale of the property.

If it's about videos, the leader is, without a doubt, Spotahome. The start-up merges the concept of Netflix and YouTube and bases its business on housing promotion through videos. Through its website you can rent houses, rooms in shared flats and student residences, which are displayed online thanks to HD video tours in first person that show all the details of the house. To achieve this, members of the Spotahome team that visit each property to make audiovisual material, which has made Spotahome the first digital video library in the real estate sector, accumulating audiovisual material from more than 40,000 properties in Europe and the Middle East.

Floors for rich children: real estate agents look for new business in the jet set

On the other hand, Facebook Live 360 ​​revolutionized the way of making live videos. And from that idea Albeda drinks, which has a live video chat with which you can interact with commercial agents easily and quickly to resolve all questions that may arise. Something similar happens with Fastighetsbyrån, the largest Swedish real estate agency in Spain, specializing in the live broadcast of the visit to the buildings. Participants can ask questions and make live comments with a real estate agent in Swedish, English or Spanish.

The real estate Tripadvisor

If the problem is choosing the best neighborhood, the real estate Tripadvisor has the answer. The relocation assistant application allows you to compare the future neighborhood with the current one. The user receives statistical data about schools, nightlife, gender and average age of residents and businesses, as well as opinions and photographs of other users. Once the neighborhood is chosen, those who buy from outside of Spain can rely on Uoolu, a platform that provides customers with the maximum amount of information about the homes and their surroundings. The client can even check the evolution of the price of the properties over time and help to open bank accounts abroad, as well as to obtain local mortgages.

"The transformation in the real estate field offers us infinite possibilities to achieve greater productivity and provide more value to our services. Not in vain, accessing information in a way that was not possible before has modified the traditional business models and in some cases it has replaced them with new ones, we are aware of this new reality and we know that we must take advantage of new ways of communicating with the client in order to anticipate their needs and generate tailor-made solutions that integrate all the services and tools that contribute to them a real added value," conclude from CBRE.

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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Acerca de Lucas Vargas:

  • Empezó en Grupo ZAP como el VP de Sales y en 2016 cuando la empresa tenía 60 empleados. Fue nombrado COO de VivaReal tomando el mando de Brian Requarth el Co-Fundador. VivaReal lanzó en Colombia y se trasladó a Brasil. En 2017 se hizo CEO del Grupo ZAP.
  • Ha trabajado en Mexico en PWC y en el Banco Santander
  • Tiene un Master de Business Administration de Harvard
  • En noviembre este año después de la fusión de OLX Brasil y Grupo ZAP fue nombrado el CEO del OLX Business Unit. Lidera la empresa junto con Andries Oudshoorn y Marcos Leite
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Simon Baker is the Founder and Executive Chairman of Online Marketplaces and Property Portal Watch. Involved with property portals for 15 years, he’s a well-recognized expert and industry consultant.
As former CEO/MD of the REA Group for 8 years, Simon led the group to its current market-leading position. When he joined REA Group in 2001, it had $4m in revenues, $6m in losses and an $8m market cap.
By 2008, the company presided over $155m in revenues, $35m in EBITDA and enjoyed a peak market cap of $1b. Simon is currently Chairman of the Mitula Group and Real Estate Investar and a serial portal founder and, investor.