Digital transformation in real estate: Reshaping the industry

The digital transformation of the real estate industry is significantly changing the way the industry functions and interacts with customers.

According to Damian Ng (pictured), senior vice president of technology at Anywhere Real Estate Inc., the real estate process is currently very human and paper-based, with multiple fragmented point solutions for different tasks. is used. A real estate agent uses multiple apps per day. – Day-to-day operations have led to data fragmentation and the need for an agent to modernize to support his team and address changes in the industry.

“Before, it was just individual agents. Now we have to provide tremendous support to large teams of agents buying and selling goods as a group,” Ng said. “Then you might work with agents who are in Chicago in the summer and Florida in the winter, so-called snowbirds. There's been a lot of change in both business and operating models, and that's driving a lot of the recent changes. We also need to change our strategy.”

Damian Ng, Senior Vice President of Technology at Anywhere Real Estate, talks about digital transformation in real estate.

Ng spoke with Dave Vellante, chief analyst at theCUBE Research, during an exclusive broadcast on SiliconANGLE Media's livestreaming studio, theCUBE, at the MongoDB.local NYC event. They discussed how the real estate industry is undergoing major changes due to digital transformation. (*Disclosure below.)

How digital transformation is transforming real estate interactions

Many companies are moving to a cloud-first approach, modernizing existing apps and leveraging platform-as-a-service solutions such as MongoDB Atlas to avoid managing infrastructure, Ng explained. did.

The company is focused on modernizing the real estate experience by creating a persona-driven platform that unifies the personal experience and allows multiple tasks to be completed in a single interface, Ng explained. Did. However, the challenge of managing competing data and business logic in monolithic applications and cloud computing requires a solution of creating separate, separate services backed by an operating model.

“We spend a lot of time building. I wouldn't call them microservices, because they're a little bit bigger, but they're all services that are independent, individual services. Obviously, they're all Mongo's We are receiving support,” Ng said. “We need to solve two problems. One is that we have multiple monolithic applications, obviously on-premises that host the same dataset, which means the data is inconsistent and The business logic is also contradictory. And the second thing is that we can't keep changing in order to run and react.”

Below is the full video interview, part of SiliconANGLE and theCUBE Research's coverage of the MongoDB.local NYC event.

(*Disclosure: TheCUBE is a paid media partner of the MongoDB.local NYC event. Neither MongoDB Inc., the sponsor of theCUBE's event coverage, nor any other sponsor has editorial control over the content on theCUBE or SiliconANGLE. )

Photo: SiliconANGLE