In a Real Estate Market frozen by the PASO Elections in Argentina, real estate companies have launched a portal to reduce advertising expenses.
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The real estate market in Argentina is going through one of the worst crises in its history. To the adverse scenario is now added the electoral climate that generates total paralysis in purchasing and selling properties. In this context, the Buenos Aires College of Brokers launched its portal. This platform seeks to compete with Zonaprop and Mercado Libre and reduce the expenses of real estate companies currently in the red.
Unlike other sites, the platform, which serves the 8,500 enrolled at the Real Estate Union ( CUCICBA ), is free to members and has a national but not international reach. “From today, it is operational. It is the first step in digitising the sector,” said Marta Liotto, president of Cucicba, when presenting the new site in the main hall of the National Technological University (UTN).
The digital tool seeks to soften the economic impact that real estate companies have to face when putting a property up for sale at times when, in addition, the market is practically paralyzed.
The real estate sector has been operating at minimum levels for over four years. Although factors such as economic instability and fluctuations in the dollar value affect the market, as established by CUCICBA, platforms such as Mercadolibre, Remax, Zonaprop and Argenprop threaten business operations.
As Liotto explained, the portals advanced with direct marketing operations in which the possibility of closing purchase or rental agreements between owner and tenant is offered, “excluding real estate agents from the scene.”
This happens especially in rentals. Owners and tenants often seek to close operations outside the real estate to make blue contracts and establish adjustments every four or six months.
How CabaProp works
The platform is used to buy, sell or rent any property in Buenos Aires. Unlike the rest, only registered can enter the properties to the web. “CabaProp generates the possibility of advice with a registered real estate professional, a guarantee of being able to operate with an absolute peace of mind and to evacuate any doubt quickly and efficiently,” they explained from Cucicba.
Real estate agents must register with their registration number. Once registered in the system, professionals can upload, free of charge and without limit, the properties of their portfolio. “Real estate agents will also have a series of tools specially designed to facilitate the dissemination of properties,” they explained during the conference to Cucicba members.
The application has an interactive interface allows you to find properties based on user preferences. All listed properties have detailed information, images, location on an interactive map and the possibility of immediately contacting the Real Estate Broker responsible for each offer.
In addition, the new platform encourages collaborative work. “It is not mandatory, but it allows working in a network with another real estate agency and sharing commissions, a fundamental practice to boost the buying and selling sector,” concluded Liotto.
Source: La Cronista
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Our comment would be that this idea has been tried in most real estate markets as one time or another and found to be uncompetitive with the large advertising platforms which have an audience inside and outside their home markets.