The Limited Times

Now you can see non-English news...

This is how technology is changing the real estate market - Walla!

2020-01-21T06:34:01.084Z


Chasing deals? High commission? Using innovative technology allows the real estate brokerage industry to revolutionize what everyone benefits - both realtors and customers who enjoy fast service ...


That's how technology is changing the real estate market

Chasing deals? High commission? Using innovative technology allows the real estate brokerage industry to revolutionize what everyone benefits from - both realtors and customers enjoying faster and cheaper service. Michael Assaf, CEO of the real estate center, details two companies that are at the forefront of the revolution

That's how technology is changing the real estate market

Walla system!

Here's a fact: The global brokerage market is shaking and the familiar model of a neighborhood realtor helping to find deals for percent of the deal is changing. how?

One example can be found at English Purple Bricks. The company was founded 4 years ago and owns only about 5% of the brokerage market in England and does 60,000 transactions a year. The company has 2 main things that make it unique. Firstly, instead of a percentage of the deal, it is a fixed fee of £ 899 - regardless of the deal. Secondly, each agent of the company is backed by a huge back office system that provides him with a great deal of information. The company's agents make an average of about 60 transactions a year, with each transaction completed within a few weeks, and more and more companies are mimicking this new model.

Another example is the US-based Compass brokerage firm Compass led by Israeli company Uri Alon, which made deals worth $ 40 billion and recorded $ 1 billion in direct revenue in just a few years. Equipped with over $ 1 billion, Comps has acquired major brokerage agencies and is doubling from year to year. It has more than 7,000 realtors today, soon capturing about 20% of the US market, and by 2019 the company is also moving out of the US.

More in Walla! NEWS More in Walla! NEWS

The big advantage of non-bank financing

To the full article

Comps' technology enables its agents to perform all of the actions with the client, whether through the website or the app - from appointment scheduling, getting information on relevant deals to signing the contract. Technology is a means and not a goal, it does not replace the middlemen but integrates the two and thus provides a more efficient and better service for us and especially for the mediators themselves.

The cynics among you will say that it is only in diapers and that it will not come to Israel. But look at the taxi industry for a moment, the entrance of a ceremonial divorce, or AirBnB that has completely changed the hospitality market, so it's hard to say that this can't happen to us.

For more real estate articles and updates click here

To download the Real Estate Center app, click here

Find the real estate center

Source: walla

All news articles on 2020-01-21

You may like

Trends 24h

News/Politics 2024-03-28T06:04:53.137Z

Latest

© Communities 2019 - Privacy

The information on this site is from external sources that are not under our control.
The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.