In the United States, millions of homebuyers click into the Zillow website to learn more about properties they are interested in -- from pictures to schools to amenities, a lot of the relevant information from an MLS is gathered in this comprehensive real estate site.
In other places around the world, companies are putting their efforts behind modernizing the real estate process as well. For example, in Tunisia, a company called Logis operates a real estate platform that allows transparency into the market there.
“We are not reinventing real estate, but just making the process of renting, buying or selling a home easier, Logis founder Riadh Ellouze told Maghreb News Wire on Aug. 24. “We are a little bit different from regular portals, as we not only accept listings from real estate agents, but also from landlords and developers.”
Logis launched in January. It offers a type of customer relationship management resource for real estate agents, and gets around 1,000 visitors daily.
“We are targeting 5,000 visitors daily by the end of 2017,” Ellouze said. “We are the first Tunisian real estate portal that combines offers from agents and landlords, so the listing offer is much richer than in regular portals. We also offer a real estate agent directory, so the client can reach out to them whenever needed.”
Because the Canadian market is not stringently regulated, Ellouze said, Logis offers lists of licensed real estate agencies to help buyers avoid going with an unlicensed agent.
Unlike some industries, Ellouze said, real estate will always have a human component, even if more business is done over the web.
“The impact of technology on the real estate industry is less disruptive,” Ellouze said, “Just because no one will actually lease space or buy a home without consulting a human: It’s just too big of a decision. In real estate, the most essential function is providing advice, and algorithms are good at that. I personally think that real time data analysis is the key to providing speed and leasing/buying efficiency.”
Also, Ellouze said, social media is expected to play a key role.
“It’s about targeting the right people at the right time,” Ellouze said.