How the Digital Economy is Revolutionizing the Real Estate Industry: From Home Tours to PropTech

All should embrace the digital economy, and experts believe the real estate industry is no exception.

That was the main message of the Asian Real Estate Summit 2023, which took place in Bangkok, Thailand on July 14, 2023.

The one-day summit gathered over 400 real estate stakeholders including brokers, salespersons, real estate companies, and business leaders. They discussed the issues and trends in the industry in the context of a digital-driven economy.

Lead organizer Anthony Leuterio, CEO and Founder of Filipino Homes said stakeholders in the industry need to learn from the strategies used in other countries and apply them in the Philippines.

“The most important thing is for them to learn how Bangkok transformed itself into an urbanized City and they can use this experience for our country,” Leuterio explained. “We also need to collaborate on how they can use the new way of marketing because we as Filipino are good in marketing but it is also very important that we can experience other countries and use their strategy also.”

Cebu Landmaster Inc. (CLI) Chairman and CEO Joe Soberano III also shared the same view that their industry needs to keep up with the pace where everything can be done online.

Soberano, who was one of the speakers at the event, said that his company has been benefitting from the new technology in most of its projects.

“We can see how people are able to communicate without having to do a face-to-face (meeting). That by itself is a revolutionary type of interaction,” Soberano told reporters at the sidelines of the summit at Amari Watergate Bangkok.

He said CLI is very active in using digital strategies and that it was the pandemic that awakened them to use modern technology.

Aside from Filipino Homes and CLI, representatives from Manila-based Weecom Developers Inc are also present during the summit to share their digital innovations.

The summit’s theme was “Revolutionizing the Real Estate Industry: The Power of PropTech and Digital Marketing in Asia.”

Another speaker at the summit is a success story of real estate salesperson Elddie John Benigay who used TikTok in order to ramp up his sales.

By posting “home tour” videos of the properties, Benigay was able to generate over P200 million in sales in the last three years.

His Tiktok account has over 17 million likes.

Leuterio said that the Summit was a success and they are planning to hold another round of discussions in 2024.

Leuterio underscored that the summit also aims to prepare real estate professionals for the abounding real estate opportunities outside of the Philippines.

“We want to groom our agents to sell properties in Asia, the Middle East, and South America. This is our first step in immersing them in the culture of the international market,” Leuterio said.

“The reason why we are doing abroad is in order to share experience, values and collaborations with other countries because today is a small world. Everything is digital.”