The history of human evolution has proved that only those who adapt quickly and effectively to new scenarios manage to survive. We do not want to sound over the top, but this is precisely what is happening in much of the global business scene. Business digitalisation has left no sector on the sidelines, including a market like real estate that's traditionally been unfavourable to changes. These companies have been forced to reconsider both their commercial strategy and their corporate culture in order to place the customer at the centre of a more interactive experience.
Digital transformation does not have to be seen as a painstaking strategy. It is also a little erroneous to think that this type of strategy only concerns new companies or those that are experiencing serious difficulties, but rather, the opposite. Experts recommend companies to take advantage of the expansive cycle to undertake the transition towards a much more digitised platform. Thus one of the great topics of previous years was when during the economic crisis new technologies were sold as a solution for firms that were facing difficulties.
Globally, the real estate sector has started organising important forums to address the challenges that are already on the table and those that could be added in the coming years. The logic behind it is simple: if customers have significantly changed their spending habits in almost all areas, why should the real estate market be any different? The companies that currently are in the lead in the different commercial segments will only be able to keep such a desirable status in the hand of digital possibilities. Engel & Völkers, for example, has long understood this reality.
In any case, the sector is still a little far from consummating the transition towards new business environments. In fact, the latest published studies even show a deeply contradictory picture. Just as 83% of real estate brands recognise that new technologies will mean very profound changes in their activity, 74% say they have not done anything yet to implement them. It is obvious that the digital age is seen as an unavoidable step, but only the leading companies have taken the process very seriously, and let's be clear, it is not going to stop.
Engel & Völkers can boast of having made a huge effort on the improvement of the user experience. It has been some time since we launched a generic app to search and compare real estate based on different search criteria. More recently, the German real estate company has presented a specific owners app. With this application, customers who are interested in selling their properties will receive an exclusive service during the sales process, with timely and permanently updated information. One of the functions of the app is, of course, direct communication with the estate agent. All this is done with a simple and intuitive app design.
