Containment, accelerating the digital transformation of the real estate sector

The health crisis has prompted many real estate agents to take an interest in new tools to continue their activity and maintain the link with their customers until deconfinement. However, the "Democratization" committed to digital - far from being absolute - reflects different realities corresponding to varying levels of maturity depending on the size of the agencies or their status (independent or belonging to a network).

From digital ba-ba ...

In an all-digital era, few real estate agencies do not rhyme their commercial strategy with optimizing their visibility on the internet: with 98% of agencies with or near a website and 96% of an account on social networks, ensuring an efficient and attractive showcase online has become an essential prerequisite for professionals.

Other technological developments have gradually convinced professionals, such as:

• The dematerialization of documents related to asset management, considered today by more than 8 out of 10 agencies (83%) as essential.
• The development of the electronic signature is a major advance for 87% of real estate agents, allowing them to perform more actions remotely, and therefore gain speed and efficiency. A point on which the State has shown a certain reactivity, by authorizing by decree in early April the performance of notarial acts at a distance, thus temporarily derogating from the rule requiring the physical presence of the parties.
• Videoconferencing has demonstrated its interest in almost 7 out of 10 agencies (69%) to maintain the link with employees, active and potential customers. During the confinement, digital represented an essential alternative, to pursue a certain level of activity.

... to the heterogeneity of the adoption of digital tools

Some of the real estate agents have also adapted to the expectations and new uses of individuals.

• Virtual tours have demonstrated their relevance for 58% of real estate agents, allowing potential buyers to discover properties safely from their home.
• Other tools have also made a breakthrough due to distance constraints, in a more measured way, like carrying out an inventory from a distance, interesting for almost 1 in 2 agencies (47%).
• If these new solutions should prevail in the sector to become the norm in the coming years, because of their many advantages (saving time, savings, etc.), however, this digitalization phenomenon covers different realities. The difference between the smallest agencies (less than 5 collaborators) and those of more than 10 collaborators is particularly important concerning the adhesion to digital inventory (36% of small versus 74% of large). To a lesser extent, there is a significant difference between independent agencies and those that are members of networks (42% vs 51%). Same observation on the free remote estimate, practiced by 45% of small agencies against 78% for more than 10 employees (50% of freelancers against 60% of networks).

"The real estate market was very affected with the brutal closure of agencies as soon as the confinement was announced, the impossibility of organizing visits or signing acts during March" observes Jean-David Lépineux, founder of Opinion System. “However, most real estate agents were able to react and adapt in a complicated context, in particular by adopting digital tools that already corresponded to strong expectations among individuals. This health crisis has been an accelerator of this digital trend that has recently been observed within the profession. Small agencies also need to follow this movement, they are the most impacted today and will need these tools to strengthen themselves. "

* Methodological note: survey carried out between April and May 2020 among 223 partner real estate agencies of Opinion System.