WHAT’S UP IN REAL ESTATE
By Mathias Pastor,
Director at The Family

Why does it matter?
1. It’s the single biggest asset class
2. It’s the most important
consumption category
for most people

What opportunities are
there?
1. Reshaping the asset class
2. Enhancing the consumer experience
3. Construction & Housing Services

Some weird things about
the asset class
1. Binary ownership
2. Illiquidity
3. Net Worth Concentration
4. Yields aren’t maximised

Net Worth Composition per decile (France)

Net Worth Composition per OoM (US)

A COUPLE COOL TAKES

The Buyer/Seller/Landlord/Renter
Consumer Experiences are all awful
1. Low barriers to entry + no
product differentiation => no
customer loyalty
2. Very small take rate builds
misalignment between
homeowners/tenants and
agents

Average Consumption Expenditure (US)

SOME STARTUPS TRYING TO MAKE THEM BETTER

Construction & Housing/RE Services
need some shaking up too..
1. Construction costs have exploded
& too few homes are being built
2. Maintenance services are
fragmented, expensive &
unreliable, with shrinking supplies

...AND SOME FOUNDERS ARE ON IT.

MEET THE
ENTREPRENEURS
🔥💖🔥

Tomorrow, real estate agencies will
be caring, transparent & responsive

Today’s real estate agents have a lot of software
● Build on a old stack
● Not so easy to use
● Often outdated

Today’s real estate agent rely on web-portal for
marketing
CREATE AD
Multicast
software

Today’s real estate agents have more and more
constraints
● ALUR law 2014 (-25% for rental agency
fees)
● GDPR (€ 400,000 fine for a Real Estate
agency)
● Rent control in Paris

Today’s real estate agents equation
BAD SOFTWARE + PORTAL DEPENDENCY + LAW CONSTRAINTS
=
SLOW SERVICE

What being “SLOW” means
● Less time talking to customers
● Bad customers reviews
● High churn
● High cost of operations

What being “SLOW” means
*source https://www.consortium-immobilier.fr/sondage-que-pensent-les-francais-des-agents-immobiliers.html
68% of french people
have a bad image of real estate agents*

Tomorrow, real estate agencies
will build their own software

Why building your own software ?
● Dogfooding (using your own product)
● Automation
● Being data-driven

Tomorrow’s real estate agent equation
GREAT PRODUCT + DATA DRIVEN + AGILE PROCESS
=
FAST SERVICE

Being FAST is not just a feature
● You have time to take care of customers
=> Good customer reviews
● You can be responsive to customer’
requests
● You are proud of your work =>
transparency

LouerAgile is fast by design
We first focus on tenants by
creating the fastest alert
system for Real Estate

3 years later
1 out of 3 tenants use LouerAgile
to rent an apartment in Paris

Today's tenant is tomorrow's landlord

Now we’re building a “just move-in” experience
● High quality ads with Virtual-tour and
Google Street-View
● Online-application
● Electronic-signature for leasing
agreement

We automate a lot of things
● Application process
● Leasing agreement generation
● Rental payment
● No physical visit

Which means more revenue for landlords
x4 faster to lease an apartment
better tenants qualification
less unpaid rents

loueragile.fr
marc@loueragile.fr
@marclebel

Improving real estate agent's day
to day
8 Jan. 2020

1.
Introduction
What is Proprioo ?

- Born from a personal
experience
- A few months later I met
them while trying to sell my
apartment !

41
Broker’s don’t deliver
Lack of transparency
Lack of reactivity
High prices average com of 4.87% in Paris

42
Broker’s don’t deliver
68 % of the French population has a negative
opinion on real estate agents

43
They saw a huge opportunity
1 million transactions per year just in France

44

45
Current scale & numbers
100Recruitments
1000+Properties sold
10 millions €Saved in commission by our clients
26 millions €Raised

2.
How product helps us improve our
agent’s day to day

47
Our Product
Allows our agents to handle more customers
while ensuring higher standards of service
Improves our customer experience
Helps our agents to focus on their
productivity

48
Feature showcase
It allows our buyers to book a viewing at any
time of the day
It naturally optimizes our agent’s calendar
One feature I want to showcase today

49
Feature showcase
Let’s take a given agent with a
few viewings in his calendar
Two apartments: 75002 & 75011

50
Feature showcase
best slots to visit
75011
best slots to visit
75002

51

52
Some advices
Experiment with low tech solutions first
Industrialize when you have strong convictions
it will bring value
Embrace adoption and trust or it won’t succeed

53
simple reliable
efficient

How to adapt your product
to the real estate reality ?
The Family - January 8th, 2020

Our reality
10%38% vs.
Other industries Real Estate

Our reality
Culture of restricted network (RICS, etc.)

Our reality
Complex & diverse decision making units

Product

Product
Keep It Short & Simple

We rise by lifting others

Website thefamily.co
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