Brazilian property portal Zap+ has launched what it describes as a 100% digital solution for the property rental sector.
ZAPway+, from the OLX-owned business, will help consumers with the entire property rental process, from scheduling a viewing through to signing the contract.
A statement from the company said the new offering, which is part of the ZAP real estate and Viva Real property portals, will also support real estate companies and brokers by simplifying and streamlining property transactions.
The company has partnered with financial services companies for what is described as a “frictionless” experience for customers.
Marcos Leite, General Director of Zap+, said the new product was developed to generate value for the entire sector.
"The real estate agency has become much more competitive because, in addition to integrated management, it can offer its clients a fully digital journey that brings autonomy and transparency when renting the property, scheduling a visit, taking a virtual tour, submitting a proposal, doing business analysis, tenant profiling and signing the contract.” he said.
The company noted the regionalised nature of the Brazilian real estate market. It started to launch ZAPway+ a month ago in 12 markets and with 40 real estate companies. It said acceptance levels to date have been excellent.
ZAPway+ data intelligence is said to be able to identify interested customers who are most likely to rent a particular property. According to a company press release, tests have shown its clients are able to make a more efficient search and that clients who booked a property viewing through the product were up to five times more likely to proceed to the proposal submission stage compared with those not using the new technology.
The company also claimed that rental properties with integrated ZAPway+ had an average rental time of up to 35% less compared with traditional advertisements,
Marcos Leite concluded: "This is a time for delivering new solutions for both real estate companies and the end consumer, with a focus on transforming the real estate market through technology".
The company is looking to accelerate the growth of ZAPway+ to all regions of Brazil in the next year and is working on developing the product for property sales and purchases.
OLX Brasil's shareholders are Prosus NV (50%), listed on the Amsterdam Stock Exchange and majority-owned by Naspers Ltd, and Adevinta ASA (50%), listed on the Oslo Stock Exchange and controlled by the Norwegian group Schibsted.
More Brazilian property portals are moving closer to the transactions. In August 2021, real estate marketplace company QuintoAndar announced it had acquired a real estate credit company.