“The real estate market of the future is shaping up to be digital, automated, remote, and virtual”

The real estate market of the future is shaping up to be digital, automated, remote, and virtual

“The real estate market of the future is shaping up to be digital, automated, remote, and virtual”

Pragma is a company specialized in developing software for real estate management and property administration. Pioneers in embracing technology as a support for the real estate sector, unlike most proptech companies, they have a long track record spanning over three decades. Guillermo Quintanilla, Director of Marketing and member of the Board of Directors at Pragma, shares in this interview the company’s evolution and the added value it brings to the real estate market.

How did the company originate, and how has it evolved to this day?

Pragma was founded in 1989 thanks to the idea of three developer friends. Bold but visionary, they proposed to the owner of the company they worked for to separate the programming part to seek greater profitability. Along with another colleague who joined them on the journey, they reached an agreement and founded Pragma. The company’s name is not coincidental; it arises from the true essence of the company: pragmatism.

They began this adventure by working with clients from the former company and expanded into custom programming, developing tools to manage day-to-day tasks in various sectors. After creating several “ad hoc” programs, they realized that many clients belonged to an unexplored niche: the property management market.

Currently, they have a technology team that lives and cares for the project with great dedication. The same team that witnessed the birth of Adminet in 2007 and, day by day, makes it grow to elevate the real estate business to the next level.

How does Adminet, your innovative CRM software dedicated to property management, work?

Adminet is our intuitive CRM software dedicated to property management, real estate, and asset management. It is an essential digital product for administrators, asset managers, landlords, property owners, or tenants to manage their day-to-day operations. It provides all the necessary tools for carrying out tasks that facilitate smooth internal and external communication.

How does it work? The program consists of different modules, each developed based on customer needs and the evolution of the market and technological advancements. It offers users various tools, including a powerful incident module, accounting, invoicing, management of massive demands from real estate portals, and many other options.

“Despite advances, there is still a long way to go for real estate to catch up with technology in other sectors.”

What advantages does it offer for property managers, real estate agencies, and asset managers?

If I had to tell you all the advantages of the software, we would need a dedicated interview. The truth is that Adminet offers a set of indispensable tools and solutions for these professionals to carry out their tasks. Its goal is to improve efficiency and productivity, saving time and money, automating and organizing management to avoid many headaches. We have now developed a tool ecosystem to digitize community and property management with the latest technology, incorporating a dashboard, an automatic PDF invoice reader, digital signatures, certified email, and Norma receipt automation, among many others.

How many users do you have to date, and what is their profile?

Currently, we have 3,500 users, and they continue to grow every day. In property management, we have noticed two well-differentiated profiles.

The first is the profile of the “traditional” property manager, who is a lawyer or similar. These are people accustomed to doing everything manually. They are “conservative” professionals who find it challenging to change, make decisions in a hurry, update programs, or switch providers because their activities consume a lot of time.

The second, although in smaller numbers, is a younger, more “entrepreneurial” client. They have just entered the sector and see the potential for growth. They view the program as a tool to sell more, manage better, and ultimately benefit more.

The rental market, on the other hand, is easier to manage; you can grow without additional staff. But it tends to be less loyal. In general, the relationship with customers is friendly and close, and we have clients who have been with us for two decades.

You were recently acquired by the Lithuanian group Icor. What changes does this operation imply for Pragma?

In a nutshell, professionalization and innovation. With the recent acquisition, we have become part of an international group of companies that aim to lead their respective markets with significant financial backing.

We are incorporating new talent and adapting processes and technologies that are much more advanced than what direct competitors may use. This will gradually be reflected in our company image and contribute to improving transparency with our clients. We want to become a high-level technology company so that our clients can benefit from this quality.

Another important concept is opening the brand to the public. Pragma has always been a company that has grown through word of mouth, as it has one of the best products, if not the best. But it has not been an exposed or relational company. Now we want it to be known, to be part of the top companies in real estate software and community services. Simply put, match the product’s quality to the brand’s positioning. It is a bold project with many uncertainties but a clear goal: to place Pragma where it deserves to be.

“The real estate market of the future is shaping up to be digital, automated, remote, and virtual in many cases.”

In recent years, the Spanish real estate sector has taken significant steps toward digital transformation. Where are we now?

Despite the advances, there is still a long way to go for real estate to catch up with technology in other sectors. This is a crucial moment for key players to transition to digital environments and gradually see how their businesses are much better managed. We want to show them how to do it.

How does the future real estate market shape up?

The future real estate market is shaping up to be digital, automated, remote, and virtual in many cases. To understand it, one only needs to see how companies like ours advance in solutions that minimize manual operations. Automated receipt management, instant messaging via AI, virtual tours of properties for sale or rent with AI-generated decorative renders. With the current level of mobility, all these technologies will become essential.

What are your closing forecasts for this year, and how do you plan for 2024?

This year has been a year of significant changes for us in terms of the product, so we can expect a slight increase in revenue. However, in 2024, we will begin to reap the rewards of the work done and move towards new business and technological thresholds. We closed the last fiscal year with a turnover of 1.3 million euros, expecting a 35% increase during the current year, reaching 1.8 million euros.

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