C Estates and Prosperna explained to real estate professionals how technology would change their industry in the event “The Real Estate Revolution!” held at the Social House in Circuit Makati, Makati City on 12 March 2019 from 7:00 PM to 11:00 PM.
The event featured speakers such as South and Main Homes founder Randall Peña, Prosperna CEO Dennis Velasco, and C Estates senior sales and marketing manager Jay Agbulos, who shared their experiences in the real estate industry and how technology became relevant for them.
Randall Peña spoke about how technology became an enabler, especially in his work in the real estate industry.
Peña said that no industry is safe from disruption for as long as the market demands for it, especially in industries where transactions are involved. Such disruptions results to the levelling of the playing field in a certain industry.
Peña said that digital transformation is important as it allows for easy data gathering and analysis, removes bottlenecks, and increases one’s analytical abilities that would allow for people to focus on things that matter, such as recognizing trends that allows for one to take the lead in their respective industries.
Peña said that while technology could also cause stress and anxieties, these could also be used as tools to allow real estate professionals like himself to focus on their most trusted clients and to build better relationships with them, such as through the use of customer relationship management platforms such as Prosperna.
Dennis Velasco then spoke about how artificial intelligence could lead a revolution in the real estate industry, and how Prosperna is doing that as a customer relationship management platform.
Velasco said that artificial intelligence’s reliance on data to allow it to learn and create an intelligent algorithm and the increasing interest of Filipinos in real estate as seen in the increasing amount of real estate-related data in the Internet provides an ideal environment for Prosperna.
Prosperna is being promoted as the first artificial intelligence-powered customer relationship management platform that aims for faster and smarter sales, and better relationships with clients.
Velasco said that he doesn’t believe that there is a demand problem in real estates in the Philippines. He believes that the real issue is in sales and marketing, which Prosperna can solve by allowing real estate companies to have better online presence and have its own unique selling prepositions,
Prosperna also allows real estate companies to focus on the right buyers through the platform’s focus on a buyer’s propensity score that determines what kind of buyer they are based on data sourced from things such as Internet use.
Jay Agbulos then talked about how C Estates is going to revolutionize the Philippine real estate market with the use of blockchain technology.
Agbulos pointed out that the Philippine real estate is experiencing high demand, despite the lowering number of properties. He also noted that most of the buyers of properties in the Philippines are foreigners.
The hassle in making real estate transactions was also noted by Agbulos, which involves high transactions cost, fraud risks, liquidity issues, jurisidiction-based property ownership, and slow and complicated transactions.
Agbulos said that C Estates, with its use of blockchain technology, will allow even regular Filipinos to get involved in real estate by having properties tokenized, which would allow the purchase of even just a part of a single property.
C Estate is also utilizing the blockchain technology to make real estate transactions much faster and easier through the use of tokens, with the real estate firm assuring potential users that they would ensure that the properties available on the platform have the right documentations.