REGISTRO DOI: 10.69849/revistaft/cl10202012011052
Monique Cristina Rocha da Costa
Abstract
The digitalization of the real estate sector is driving a significant transformation in how businesses operate, communicate with clients, and manage transactions. The introduction of digital solutions, such as platforms and apps, enables real estate agents to offer a more agile, personalized, and efficient service. The use of high-quality images, videos, and virtual tours facilitates decision-making for buyers and renters, making the buying and renting process more effective. Instant communication and the ability to autonomously schedule viewings enhance service agility and reduce errors. Furthermore, technology has positively impacted the financing analysis, providing more accurate solutions and better conditions for clients, increasing transparency and reducing bureaucracy. The integration of mobile solutions into real estate companies’ IT architecture is an important step, though challenging. Knowledge management, both explicit and tacit, also plays a crucial role, enabling businesses to improve their services through the exchange of best practices and web-based systems. The growing importance of mobility and collaboration has facilitated companies’ adaptation to rapid market changes, while the shift from traditional methods to the use of modern technologies, such as smartphones and social media, has accelerated communication. Finally, the integration of spatial and property data offers more efficient and precise management. Digitalization is making the real estate sector more dynamic, transparent, and competitive, creating a more favorable environment for all stakeholders.
Keywords: Digitalization; Real estate technology; Customer experience; Mobility; Knowledge management.
Digital transformation has significantly impacted various sectors, and the real estate market is no exception. With technological advancements, real estate agents are increasingly adapting to the new demands of the market by using apps and digital platforms to optimize property searches, customer service, and real estate negotiations. This evolutionary process not only facilitates the completion of complex tasks but also enhances the customer experience, making it faster, more personalized, and efficient. One of the main benefits of using apps in the real estate market is the speed at which properties are presented. Through these tools, agents can provide clients with detailed, interactive views of properties, using high-quality images, videos, and even virtual tours. This allows buyers and renters to explore properties remotely and in detail before scheduling an in-person visit, saving time and making the buying or renting process more efficient. Furthermore, apps make scheduling visits and meetings easier, allowing clients to choose available times independently, without the need for constant communication with agents. This process speeds up dynamics and reduces the likelihood of errors or scheduling conflicts. Instant communication through chats and notifications also makes customer service more dynamic and personalized, with quick responses to clients’ questions, which increases satisfaction and trust in the service offered.
Figure 1: Commercial Real Estate Technology Brokers Use.
Source: Ascendix.
Another important point is the optimization of the financing analysis process. Many real estate apps integrate with banks and financial institutions, enabling agents to track the feasibility of financing in real time, propose more accurate solutions, and offer better conditions to clients. This not only improves the customer experience but also increases the chances of closing deals, as bureaucratic processes are expedited and financing options become more accessible. Tracking the buying or renting process also becomes more efficient with the use of technology. Many apps offer dashboards where both agents and clients can track the progress of each transaction step, from contract signing to key handover. This transparency boosts client trust and minimizes anxiety throughout the process.
Research, such as that by Rockel and Barth (2019), demonstrates the advantages of a paperless environment, highlighting environmental benefits, as well as time and cost savings provided by the digitalization of documents and processes. By eliminating paper usage, companies can reduce errors and invest the saved time in more efficient customer service. These innovations are particularly relevant for real estate agencies, which deal with large volumes of data and transactions. The integration of mobile solutions into companies’ IT architecture still has significant development potential, with the main challenge being the seamless integration of apps into customer service processes, ensuring user acceptance and creating real value.
In turn, Kaklauskas and Zavadskas (2009) emphasize the importance of managing explicit and tacit knowledge in the real estate sector, particularly in improving outcomes for clients. By capturing, sharing, and applying this knowledge, companies can enhance their operations and services. This includes the dissemination of best practices in various areas, such as appraisal services, brokerage, and property management. The study also explores the use of web-based systems, such as the Intelligent Decision Support System for the Real Estate Market (IDSS-RE), as an example of how technology can facilitate knowledge exchange and decision-making in the sector.
The research by Cancino and Zurita (2017) addresses the growing importance of mobility and teamwork, supporting strategies and value propositions, especially in real estate agencies. The Geomanagement system, based on location-based services (LBS), facilitates collaboration between agents and access to information about properties and clients, both for new and experienced agents. The study highlights how collaboration is essential for executing and monitoring business strategies in real estate agencies.
Zalewska-Turzyńska and Mikłaszewska (2019) examine how the real estate brokerage industry has adapted to new communication trends driven by globalization and information technology. The results indicate that the real estate market is following other service industries in adopting modern communication technologies, such as smartphones, laptops, and social media, gradually replacing traditional methods like pamphlets and newspapers.
Finally, studies by Ferreira et al. (2017) propose a decision-making process focused on learning to evaluate the quality of real estate brokerage services, using cognitive maps and the Decision EXpert approach. The goal is to provide greater transparency in the sales and decision-making processes, generating recommendations to improve service quality. The research by Florentino and Casaca (2014) investigates the management and impact of technologies in the premium real estate segment, observing how these innovations help in communication and digital marketing, promoting greater value-added to the sales process. Emerging technologies, such as cloud computing, social media, and augmented reality, have become increasingly important for this segment, with a growing impact on the high-end real estate market, especially in Portugal.
The study by Li, Bian, and Shi (2012) presents an architectural design for digital management of the real estate market, focusing on the integration of spatial and property data, both in public and specific applications. The research emphasizes how this integration of multiple spatial data and the use of public applications can revolutionize the informatization of real estate management in the country. In summary, the digitalization of the real estate sector is transforming the way companies operate, communicate with clients, and manage transactions, offering a more efficient and interactive future for the market.
The digitalization of the real estate sector, as evidenced by technological advancements and the increasing adoption of digital solutions, has been driving a profound transformation in how companies operate, communicate with clients, and manage transactions. The impact of these innovations goes beyond simple process automation, reflecting a fundamental shift in market dynamics. With the use of apps and digital platforms, real estate agents are adapting to new market demands and offering more agile, personalized, and efficient services. The ability to present properties in a detailed and interactive way, through high-quality images, videos, and virtual tours, not only facilitates the decision-making process for buyers and tenants but also saves time, making the buying or renting process more effective. Furthermore, the ability to schedule visits autonomously and the instant communication between agents and clients contribute to a more dynamic service that is less prone to errors.
The use of technology also positively impacts financing analysis, allowing agents to track loan feasibility in real-time, providing more accurate solutions and better conditions for clients. This level of transparency and efficiency reduces bureaucracy, making the process more accessible and increasing the chances of closing deals. The integration of mobile solutions into the IT architecture of real estate agencies is an important step, but one that still presents challenges, especially regarding the smooth integration of these tools into customer service processes, ensuring their acceptance while creating real value for users.
Moreover, the management of explicit and tacit knowledge, as highlighted by Kaklauskas and Zavadskas (2009), also plays a crucial role in improving outcomes for clients. Capturing, sharing, and applying this knowledge enables real estate companies to improve their operations and services, ensuring a more efficient and assertive approach to delivering solutions. The dissemination of best practices and the use of web-based systems, such as IDSS-RE, provide an effective platform for knowledge exchange and more informed decision-making in the sector.
The growing importance of mobility and collaboration, as shown by Cancino and Zurita (2017), is another characteristic that has shaped the future of the real estate sector. The use of location-based systems, such as Geomanagement, facilitates collaboration among agents and provides real-time access to property and client information. This not only increases operational efficiency but also strengthens companies’ ability to adapt to rapid market changes, while enhancing client experience and business strategy execution.
Adapting to new communication trends, driven by globalization and information technology, has also been essential for the evolution of the real estate market. The study by Zalewska-Turzyńska and Mikłaszewska (2019) highlights the gradual transition from traditional methods, such as brochures and newspapers, to modern technologies like smartphones, laptops, and social media. This shift has contributed to the acceleration of communication and the capture of new audiences, while also improving reach and interaction between agents and clients.
Furthermore, decision-making proposals based on learning and transparency in sales processes, as advocated by Ferreira et al. (2017), are fundamental to ensuring continuous improvement in services. The use of cognitive maps and approaches like Decision EXpert not only facilitates quality assessment but also helps generate recommendations to enhance service and decision-making, which is essential in a competitive market. Florentino and Casaca’s (2014) research on the impact of emerging technologies in the premium real estate market also emphasizes the importance of technological innovations, such as cloud computing and augmented reality, which provide a significant competitive advantage by enabling more effective communication and more efficient sales promotion.
Finally, the integration of spatial and property data, as proposed by Li, Bian, and Shi (2012), has the potential to revolutionize real estate management, enabling more comprehensive and accessible informatization. The merging of these data through public and specific apps can transform how real estate agencies operate, providing more accurate and efficient management. This digital transformation is making the real estate sector more interactive, dynamic, and transparent, creating a more favorable business environment for everyone involved – from agents to end clients.
In summary, digitalization in the real estate sector is shaping a more efficient and innovative future, with a focus on agility, transparency, and personalization. The use of new technologies not only improves the customer experience but also strengthens the competitiveness of companies in the market. As real estate agencies continue to integrate digital solutions, it is essential for them to overcome the challenges related to the adoption of new technologies and ensure that their processes are optimized smoothly and effectively, creating real value for users and driving the continuous evolution of the sector.
References
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Ferreira, F., Spahr, R., Sunderman, M., Banaitis, A., & Ferreira, J. (2017). A learning-oriented decision-making process for real estate brokerage service evaluation. Service Business, 11, 453-474. https://doi.org/10.1007/S11628-016-0315-4.
Florentino, T., & Casaca, J. (2014). Real Estate Brokers in Premium Segment – Marketing and Communication through Technologies. . https://doi.org/10.15396/eres2014_97.
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