WORLDWIDE AND IN EUROPE TOO... THE PROPERTY SECTOR IS UNDERGOING A DIGITAL REVOLUTION

Geolocation, virtual tours, targeted property searches, home staging… new technologies are transforming the property sector, prompting developers, estate agents and property listing sites to offer innovative services.

According to experts at the consultancy firm Xerfi-Precepta, "the property sector is on the cusp of major digital upheavals".

Whilst for the time being, "the involvement of a third party in a transaction still appears essential", players in the sector "must remain on their toes, or risk being overtaken by new entrants operating entirely online or by disruptive models emerging abroad", they say in a recent study.

On the services side, many start-ups are innovating in the area of matchmaking.

Companies such as Ikimo9, Locatme and Somhome aim to streamline the property search process for clients through more targeted searches (simulators, comparison tools, “matching”), or by simplifying procedures, as does the BePrem’s platform, which distributes prospective tenants’ applications to estate agents.

Thanks to advances in digital technology that allow prospective flats to be viewed in 3D, virtual viewings are gradually becoming the norm, as evidenced by the success of Habiteo.

Founded in 2014, the company has developed technology enabling the mass production of 3D visualisations at highly competitive costs and within tight deadlines.

Nearly 150 developers (Bouygues Immobilier, Kaufman et Broad, Sogeprom, Sagec, Icade...) use Habiteo to market their new-build developments, and Habiteo is now launching in the UK, Germany and Russia.

From open data to geolocation, via home staging (a “makeover” of the property, ed.) and virtual tours, “new entrants are energising the sector by introducing innovative practices”, notes Xerfi-Precepta.

A number of players have thus emerged, promising to revolutionise property viewings with innovative apps.

An “avant-garde” space to “reassure” the client

Faced with the challenge of adapting, traditional estate agency networks that had missed the digital boat launched their own property listing site, Bien’ici, in December, in order to break the monopoly of Se Loger and Le Bon Coin.

It incorporates geolocation, allowing users to navigate an interactive map by entering their own criteria (transport, shops, schools, etc.) for finding a home.

"To consolidate their positions, established operators will not be able to ignore a genuine digital strategy, particularly in the areas of mobility and data," says Xerfi-Precepta.

This is particularly true in the new-build property sector, which “still scares people”, notes Thomas Penet, Deputy Managing Director of Marketing and Advertising at Altarea Cogedim. “Because when you buy off-plan, there’s a two-year wait and nobody understands anything about the paper plans…”

To “reassure” customers, the group opened a “cutting-edge” space in June at the Bercy Village shopping centre in Paris: the Store Cogedim, which combines real and virtual tours.

Visitors can walk through two two- and three-bedroom flats, reproduced in full scale and fully decorated... but they can also put on a virtual reality headset to explore a fictional home.

"People in their thirties love it. Others are completely resistant to it; it makes them feel sick. But it will never replace being able to touch the materials," says Mr Penet.

Currently being trialled, this 3D tour is set to be rolled out across all of Altarea Cogedim’s residential developments “during 2017”, and will be customisable according to the fittings and finishes (tiles, flooring, wallpaper, kitchens, etc.) on offer.

To ensure it doesn’t fall behind, Bouygues Immobilier is investing, via its Bird fund, in innovative start-ups such as Mycloud3D, a specialist in virtual tours.

And “more and more operators are dedicating spaces to customer reviews, following the example of the pioneer Meilleursagents,” observes Xerfi-Precepta.

As for the Orpi network, it will offer “packages” (home staging, valuation, viewing management), allowing customers to choose from a range of services without having to commit to a full agency agreement.