Revolutionizing the French real estate market is the challenge that many start-ups want to meet! This is how Proptech emerges. Now well-identified and understood by professionals, it is also penetrating the world of real estate. According to a study by opinion way (I) for Hosman (ii),the French seem to be mature in the face of digitalisation of the real estate world.
French eager to see Proptech revolutionize real estate
Proptech, a term stemming from the contraction of "property" and "technology", designates all companies that use technology to improve or reinvent the services offered by traditional actors in the real estate industry. These companies aim to meet the expectations and new uses of consumers, largely shaken by the advent of digital and the adoption of new technologies in our daily life.
The conservative sector, the world of real estate is at the dawn of a major transformation. The French seem to be ready for this movement of magnitude. According to the data from the study conducted for Hosman (ii), we learn more about the expectations and the concrete understanding the French of Proptech.
• 1 French out of 3 (32%) believe that a real estate transaction can happen only online and without human intervention. 40% of respondents under 50 years of age believe that real estate can be without humans.
• 65% of respondents considered that real estate agencies should use digital tools more.
• Respondents rely on technology. Thus, one-third of respondents believe that artificial intelligence would be able to estimate the selling price of a property much more accurately than a real estate agent.
• Looking for a good through new smart tools doesn't seem to scare. A third of the French are willing to trust an artificial intelligence to recommend them a property to buy.
• Speaking of the purchase: 36% of the less than 50 years would be willing to buy a real estate without passing the notary (via a secure digital transaction of blockchain type).
The necessary complementarity of the Proptech offer
This study is very interesting and complete. It reveals two essential information.
First, the French are already ready to rest only on the human. In terms of real estate recommendations, the expertise of a professional remains decisive. However, it is evident from the responses that a good dose of AI is more than ever necessary.
Second important information: the urge to see certain stages of a real estate purchase simplified or even deleted. The large proportion of people interviewed who are willing to stop by the notary is the illustration.
These results prove that the two main trends of the Proptech are brought to cohabitate. Thus, some start-ups must develop services that supplant professionals, disintermediating them, or even completely replacing them. But, in parallel, it is also important to find start-ups offering tools to improve the customer experience and offer... without seeking to replace the human expertise and the central role of proximity advice!