Real estate digitization technology begins to conquer the real estate sector in Mexico

The real estate sector in Mexico is characterized by its high dynamism within the economy, but like many other businesses it was impacted by the current crisis derived from the pandemic; therefore, real estate digitization became a priority need for this business to continue operating in the new normal and face what is to come. The good news is that in this country great steps have already been taken in approaching technology and innovation in this industry.

In the framework of the Forbes Conecta Real Estate Forum, specialists in the sector gave their points of view about the progress that Mexico and Latin America have made in terms of real estate digitization and the opportunities offered to facilitate both the sale to the owners and the acquisition from buyers.

The quarantine and the stoppage of almost all activities forced real estate agents to reinvent themselves and this has caused almost all current real estate buying and selling operations to be carried out online. However, the question that many involved in this sector are asking is if this is part of a passing trend or will it be the future of property acquisition transactions.

As per specialists in the field, innovation has become the fundamental partner for organizations, everything being equal. And it is undoubtedly that this transformative tool revolutionized logistics processes, entertainment services, and even mobility, thanks to the work that firms such as Amazon, Netflix, and Uber have done.

Speaking of real estate digitization in the country, the evolution process is just beginning, although there is still a lot of work to do ahead; but the technology begins to approach to transform the real estate.

Technology can transform the real estate industry

Technology can transform the real estate industry Real estate digitization and innovations in the property market is an issue that is already taking its course in Mexico and Latin America, and different specialists who participated in the forum agree on this. In this sense, Federico Stuht, CMO of the startup Homie explains that “technology has come to considerably transform this sector, making it more efficient, faster, helping to eliminate existing barriers and creating a level floor for all involved ”. Following his presentation, Rodrigo Sánchez, co-founder of the La Haus technology platform, added that these advances that we are seeing in the current situation will bring benefits for all people in the future. Sanchez highlights the great opportunity there is to change the form of this business to a more optimized one because in the world there is still no exemplary model of real estate digitization, but he sees that the potential to democratize information and access to housing has accelerated. On the other hand, he warned that "you have to work a lot in Mexico, where there is still a long way to go, mainly with the issue of technological understanding, but the benefits for people will be very positive." Also noteworthy is the intervention of Roberto Esses, CEO of Vivanuncios, the most visited real estate website in Mexico, who explains that real estate digitization will offer improvements for the sector, including making it easier for people to make their decisions. " What technology comes is to bring closer and to be able to give more information to people who are interested", this is where he considers that it is important to have better options when acquiring a property, which is an extremely important decision. For example, they can consult 24 x 7.

Relevant data from the search for housing on the internet During his participation Roberto Esses made known important points such as that people throughout their lives only acquire 1.18 properties and how relevant it becomes to accompany them with innovations such as artificial intelligence and other technologies that help them in a great decision.

On the other hand, he presented data on the low penetration that exists in Mexico regarding the search for housing on the internet, ensuring that only 8% of Internet users search for a property in this medium; and it is here where the need or the opportunity to bring technology closer together and replicate the best practices is seen to give Mexicans the ease of finding what they are looking for. In this method, an IP hash is used to find the server that must attend to a request.