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Tuesday, October 3, 2023

Casavo: “Thanks to algorithms we innovate the real estate sector”

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We visited the Milan office of one of the frontrunners in the sector, where you can buy or sell a house almost entirely through the app thanks to continuous research and innovation

How is it possible to innovate a very “traditional” sector, such as that of buying and selling real estate, which consists of searches in specialized newspapers or websites, and then many calls and many visits? To find out, we went to the Milan office of Casavo, a company that allows you to sell and buy (but also renovate) a house almost entirely online via an app.

How it works and what Casavo does

Founded as a real estate “instant buyer” in 2017, Casavo, they tell us, has established itself as the mission to solve the problem of selling a house and finding buyers and above all to take away the complexities of the world of real estate sales. The Italian company, taking advantage of the technology it owns, has evolved year after year into a digital platform that allows you to sell very quickly and receive, from the buyer’s side, offers that correspond to your needs, all thanks to algorithms and artificial intelligence. Fausto Maglia, Casavo’s Chief Product Officer explains: “Let’s say on a Sunday afternoon we decide we want to move: we can’t go to a real estate agency, but we can go to the Casavo app, which by entering some basic information such as address offers plan an immediate algorithmic evaluation that already provides insight into who the potential buyers are for that type of property and what budget they are willing to offer The experience continues – continues Maglia – by sharing the photos and the floor plan of the property and the search for a potential buyer is further refined.The next day you may already have a sales mandate to sign with Casavo or it may be Casavo itself who buys the property through an immediate offer”.

Particularly for those who sell it is possible to receive an offer directly from Casavo (with a small discount to the market price) and at that time Casavo itself will buy the property after about a month and then put it back on the market; alternatively, Casavo will match supply and demand by using a network of nearby brokers in an innovative and, they explain, as simple as possible way. Among the services offered by the company – active in Italy (in Rome, Milan, Turin, Florence and Bologna), in Spain (in Madrid, Barcelona, ​​Malaga and Seville), in Lisbon and in Paris (landing in France is recently also thanks to the acquisition of Proprioo, one of the most important PropTechs on the French market) also the restructuring and the choice of furniture and a mortgage service.

Casavo Technologies

Casavo has been at the center of a corporate restructuring in recent months that has seen up to 30 percent of its workforce lost, mainly due to market volatility. Casavo expects longer sales times and lower demand for this year and next. “Changing the complex real estate market – explains Maglia again – requires the use of a lot of technology for the algorithmic evaluation part, for the construction of the app mobile, for the advertising platform and in general for all the possibility to connect supply and demand. In our development team, we even have engineers, developers with machine learning skills, designers, experts in artificial intelligence”. For home sellers, Casavo technologies, all developed in-house by a team of more than 100 people, proprietary algorithm, an almost instant evaluation of the property through an automatic learning function that analyzes hundreds of similar properties and the sales in the area Casavo is constantly working on the algorithm that performs property valuations and continues to refine it to provide ever more accurate valuations. it offers an evaluation, among other things, the app can also provide information about other sellers in the area, about any interested customers, whether the price is higher or lower than the average and also identifies the house’s strengths and weaknesses (the is close to the university, it is far from the metro) Those who want to buy, on the other hand, can enter all the desired characteristics in the system (depending on the price range, of course) and are immediately notified when there is a property with similar characteristics , with the possibility to also book a virtual visit via a high-quality 3D system or to book a “physical” visit directly via a calendar.

Source: TG 24 Sky

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