Index
2021 was a promising year for real estate. According to the Revenue Agency, in the first 9 months there were approximately 536,000 residential sales. Some estimates indicate that the most likely number of housing transactions in 2019, the year that has just ended, is 700,000.
If the overall numbers are important, it is equally significant to grasp the changes underway in the buying and selling process, in consumer habits and in their expectations towards professionals.
The Casavo Impact Report, produced together with BVA Doxa, a company Casavo, a market research and consultancy firm, investigated the trends of the main Italian cities (Rome, Milan, Turin, Bologna, Florence), providing useful information on what it means to sell a house in the current context.
We interviewed Edoardo Ribichesu, Head of B2B Growth at Casavo, who provided some data and curiosities about the survey.
What is the objective of the Casavo Impact Report?
To increasingly understand the mechanisms of the Italian real estate market and the needs of those who have decided to sell a house in this historical period. 2021 is It was a unique year, the first adjustment phase after the pandemic peak of 2020. A year that also impacted the real estate market, which we explored by involving a sample of several hundred people who sold their homes in the last 14 months.
What are the main reasons that drove Italians to sell their home in 2021? The data confirm the tendency of Italians to seek larger, multifunctional homes with outdoor spaces. Homes in which to spend free time, but also work and study. 62% of those who sold their property started looking for a new home with the aim of meeting the needs that emerged during the pandemic.
What kind of impact, in your analysis, did the pandemic have on the real estate market in 2021?
The pandemic has brought with it the desire for a new lifestyle, and therefore new housing preferences. Sometimes, however, this desire does not coincide with purchasing power, which has decreased or remained unchanged in the face of stable or rising prices compared to the past. Furthermore, this new context has accelerated the digital transformation of the sector. Casavo positions itself as a technological player that offers consumers a clear price and reduced sales times.
What numbers did Casavo achieve in 2021?
Speaking of numbers, in 2021 Casavo concluded 1,037 transactions in the cities of Milan, Rome, Turin, Florence and Bologna, investing 295 million euros and generating over 18 million euros for the partner companies that work with us on the renovation projects of the properties we acquire. All of this has satisfied our customers who have rewarded us with an NPS (Net Promoter Score) of 90/100.
Mediation or do-it-yourself? What emerges from the survey conducted?
The data emerging from the survey speak clearly: 81% of consumers turned to a real estate agent to sell their home. This figure does not surprise us and is in line with Casavo's choice to collaborate with real estate agencies from day one through an inclusive model that generates valuable synergies for both parties.
How does Casavo collaborate with real estate agencies?
First of all, we position ourselves as direct buyers, offering real estate agents the opportunity to receive an offer for one of the properties in their portfolio. We also collaborate with our partner agencies in the resale phase of the properties we acquire, as well as offering them sales mandates for all those properties that are offered to us by private individuals but for which we cannot formulate a purchase offer. Finally, we invest every day in technology to simplify and speed up the work of agencies through an offering completely dedicated to them: Realisti.co virtual visits, the Digital Academy and our advertising platform, to name a few.
What are the emerging trends when it comes to digitalizing the buying and selling process?
Nowadays, time is a scarce resource, and agreeing on times for property visits is not easy. Furthermore, having to welcome strangers into their homes has become a concern for many sellers. In order to anticipate customer requests, Casavo is investing heavily in the digitalization of this part of the process.
Back in 2020, following the needs that emerged with the pandemic, we launched our Casavo Visite app for remote viewings, which allowed you to show your home to a Casavo expert via video call. This year, we went further and introduced a new, even more convenient way to share information: the app guides those who want to sell their home step by step in uploading their documents (images and floor plan of the property).
How digital can help you sell your home? Make real estate sales faster?
Casavo aims to offer a complete digital experience to anyone who wants to sell or buy a home. A new paradigm based on simple, immediate, and transparent processes.
What critical issues emerge from the survey regarding the time required and sources of stress related to selling?
When putting a property up for sale, you don't know for sure how long the process will take. In 50% of cases, it took longer than expected. This uncertainty can transform the sale into something that generates stress and worry. The use of technology and innovative models allows us to offer a completely new, simple, and fast experience. How does the Casavo model solve these critical issues?
Our goal is to redesign the entire consumer experience through data and technology, helping thousands of people buy and sell homes simply, quickly, and seamlessly, thanks to digital.
Real estate agents who want to collaborate with Casavo can start their experience with Casavo by entering their client's property details on our website, thus obtaining an initial response within 24-48 hours.
Following the property inspection, Casavo directly makes a purchase offer.
If Casavo purchases directly, the sale is concluded within 30 days on average, and the commission is always paid by the real estate agent.
Find out more at partners.casavo.com