Having 1,000 investors of a real estate project meeting at a notary’s office to sign a deed is practically impossible; However, if this process is done through a platform, the times would be considerably reduced, even in a matter of seconds, that is the promise of the proptech business, which is the meeting of the real estate business with technology.
According to participants in the proptech business, currently the real estate sector has many frictions for any type of operation. For example, to invest in an asset of this nature, by the traditional mechanism a person can take up to 1 year and a half to complete the operation or, to rent a place, in urgent cases, the period can be several weeks, even months.
“Real estate has been for many years a great mechanism to create and build wealth. It is an asset that is showing stability for centuries, which tends to increase in value over time … but unfortunately, it is also an asset that not many of us have access to because it is capital intensive, it requires a lot of technical knowledge. and from the market to be able to buy something ”, explained Iván Carmona, co-founder of the 100 Ladrillos platform.
Carmona explained that 100 Ladrillos is a platform for collective funding (crowdfunding) real estate royalties, authorized by the National Banking and Securities Commission (CNBV), focused on connecting investors to put their resources to work on projects such as commercial real estate, flats of office, industrial warehouses and apartments in institutional housing.
For Carmona, this model supported by technology allows eliminating three essential barriers that exist in the traditional real estate market: the high amounts of capital of an initial investment, the experience to know where to invest and the paperwork that has to be done.
According to the co-founder of 100 Ladrillos, collective real estate funding allows access to investments with a low amount of capital, being advised at all times on the investment landscape and eliminates all cumbersome procedures since the process is 100% digital.
“In the traditional method, because you have to have all the money the property is worth, look for advisers who will take you to visit different properties, mainly in your city. The time you have to dedicate gives you a lot to see five or six properties a day, here on our platform you have the option of reviewing 17 properties in a single stroke ”, Carmona highlighted.
Data management, the key
For Juan Martín Delgado, CEO and co-founder of the Colombian-based platform Aptuno, one of the keys to eliminating friction in the real estate industry in general is the concentration and management of data, which improves business profiling and minimizes risks. what’s in them.
“Today in the Internet era, with the increase in data availability, solutions, the way supply meets demand, algorithms, we are facilitating the entire transaction process,” Delgado said.
Aptuno is a platform that connects landlords and tenants to formalize the rental of a property. According to Delgado, in Mexico the challenge of strengthening its risk model is no less, because in a country with 130 million inhabitants, where about 25% of the housing stock is rented, a robust data analysis system is required.
“We start from where they all start, the credit information companies, because there is a good part of information about how users behave in general. Sadly in our region the penetration of the bureaus is very modest, so we start processes to capture additional information and we will have more and more data to be more precise, more careful and more user-friendly ”, Delgado said.
Both participants in the proptech industry agreed that the opportunity for this model is enormous; however, it is required that people dare to consult platforms of this style to gradually gain greater market penetration.
“Generally speaking, there is a huge opportunity. For example, in Colombia, the income assurance process on the side of the tenant, owner, works with insurance and bonds, here it works with the famous judicial policy or with the guarantee and we are working intensively with data capture, understanding of the same in the Internet era, so as not to request excessive information because today it is not necessary, “said Delgado.
For Carmona, in addition to attracting more people to use platforms of the proptech model, it is necessary that the products work properly, with a robust operation and offer the best real estate assets in the market.
Reference-www.eleconomista.com.mx