Digital transformation in real estate: reshaping the industry – SiliconANGLE

Digital transformation in real estate is significantly altering how the industry functions and interacts with clients.

Real estate processes are currently very human and paper-driven, with multiple fragmented point solutions for different tasks, according to Damian Ng (pictured), senior vice president of technology at Anywhere Real Estate Inc. Real estate agents are using multiple apps for their day-to-day work, leading to data fragmentation and the need for modernization to support agent teams and address industry shifts.

“Before it was just individual agents; now we need to do a lot of support for … large teams of agents that buy and sell stuff as a group together,” Ng said. “Then there are times that we now work with the so-called Snow Birds, agents that summer in Chicago, winter in Florida. There are a lot of different changes, in both the business and the operating model, that drive a lot of the recent change. We need to shift our strategy as well.”

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

How digital transformation is revolutionizing real estate interactions

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

The focus is on modernizing the real estate experience by creating a persona-driven platform that integrates individual experiences and allows for multiple tasks to be completed in a single interface, Ng explained. However, there are the challenges of managing conflicting data and business logic in monolithic applications and the solution of creating isolated individual services backed by a cloud operating model.

“We spend a lot of time, building, I won’t call it microservices, because its a little bit bigger, but services which are all isolated individual services. They’re all, obviously, backed by Mongo,” Ng said. “We need to solve two problems. One is, we have multiple monolithic applications. On-prem, obviously, that host the same set of data. So, we have conflicting data and conflicting business logic. And two is that in order for us to run and react, we cannot keep changing.”

Here’s the complete video interview, part of SiliconANGLE’s and theCUBE Research’s coverage of the MongoDB.local NYC event:

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

Photo: SiliconANGLE