“Huspy is built on two pillars: technology and people”

David Chamás, general manager para Huspy España

“Huspy is built on two pillars: technology and people”

Huspy was founded with a clear goal: to revolutionize one of the largest industries worldwide by fully digitizing the home buying and selling process. Headquartered in Dubai, it expanded to Spain, using the country as a gateway to Europe. This expansion followed a Series A funding round two years ago, raising 39.5 million euros, led by Sequoia Capital India. In this interview, David Chamás, General Manager for Huspy Spain, discusses the current state of the company, the launch of its new app for industry professionals, and the opening of the first “Agent Hub” in Spain to provide continuous training for agents.

What is Huspy? Tell us about the origins of the project.

Huspy is a multinational real estate services company that combines technology and talent. The company was founded in the United Arab Emirates (UAE) in 2020 by Jad Antoun and Khalid Ashmawy, with the goal of simplifying the home buying and selling process for everyone, from finding the property to financing. As a result, we have become the leading mortgage provider in the country. Currently, we operate in the UAE (Dubai) and in Spain (Madrid), maintaining our mission to make home buying a reason for celebration.

Who is the platform aimed at? How many users does Huspy currently have?

We target two main audiences: home buyers and real estate agents. We offer a unique value proposition by positioning the agent as the true driving force of real estate. To date, we have helped more than 13,500 buyers and sellers.

How does Huspy simplify the home buying and selling process?

To facilitate any home buying and selling process, Huspy is built on two pillars: technology and people. We believe it is essential to focus on tools such as marketing, which allows agents to attract more clients, providing more leads to buyers, streamlining transactions, and improving the buying and selling process. This methodology has been validated by its success in Dubai. For buyers and sellers, Huspy is creating a transparent and easy-to-understand experience through technology and the expertise of its team.

“Foreign investment, which has significant weight in the market, could have a positive impact on housing.”

How many properties have been managed through your platform?

At Huspy, we have a team of about 150 active agents managing over 600 properties. We are very proud of the results we are achieving, and it is all thanks to the human team behind every step we take.

You recently launched an app for real estate agents. What is its goal and what features does it offer?

The new app we launched, available for Android and iOS, aims to unify all the activities of real estate agents in a single tool. We developed everything in-house with a team of over 80 people dedicated to improving our application and all its features every day. Key features include client management and visit scheduling, property searches, instant valuation with macro data comparison, training videos, and connection with potential buyers from both Huspy and real estate portals in one place. The app also facilitates the exchange of immediate feedback and opinions from buyers, as well as a recommended agents program, where agents can refer their contacts to join the company.

Let’s talk about your space dedicated to training and home sales in Madrid, “Agent Hub.” How did this initiative come about and how has it been received?

This is an initiative created by and for agents. This pioneering physical space in Madrid opened its doors to meet the demands of the sector. The project was launched with the aim of providing agents with continuous training and resources to maximize professional performance and improve the buying and selling experience.

“Huspy is creating a transparent and easy-to-understand experience through technology and the expertise of its team of experts.”

We will train over 200 professionals, offering them a team of experts at their disposal, technology to be faster and more efficient, marketing tools such as the new Huspy app, as well as productivity-linked incentives that allow agents to increase their earnings by 60%.

What are Huspy’s expansion and growth goals, both in Spain and internationally?

Currently, Huspy operates in the UAE (Dubai) and Spain (Madrid). The expansion goals for both countries are aligned, although there are certain particularities related to the cities where the company operates. Broadly speaking, Spain has a very fragmented market, while Dubai’s market is highly concentrated with a super-rich supply despite growing demand. In Spain, 80% of home purchases are made with mortgages, while in Dubai, 50% are made in cash. That said, our outlook for both countries is positive, and we aim to continue growing in each market we operate in.

Do you think digitalization is progressing at a good pace in the real estate sector?

Digital and technological transformation is advancing rapidly, and in the case of the Spanish real estate industry, the data speaks for itself. According to a recent study, Spain represents 11% of all proptech companies in Europe, highlighting the evolution of digitalization and technology in the real estate sector.

According to the INE, last February showed positive figures for home sales, with a year-on-year growth of 5.8%. Is this increase in transactions a sign of the sector’s reactivation in Spain?

At Huspy, we will continue to closely monitor industry data throughout this year. It is worth noting that in Spain, the real estate sector is one of the main economic drivers of the country. Focusing on Madrid, where we operate, there is a high demand for financing, especially for young people, so they can access their first home. At this point, we see interest rates starting to stabilize after years of significant increases.

The real estate sector is experiencing a moment where factors such as the rise in material prices and land scarcity have halted new home construction. However, we observe that foreign investment, which has a significant weight in the market, could have a positive impact on housing, helping to reverse this situation.

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