Why Consumer First Is More Than Just a Fad

During the last year, we have all been in the midst of a massive digitization wave across major parts of our everyday lives, driven by the pandemic and the ongoing efforts to slow down and contain the spread of the disease.

With lockdowns, contact reductions, home office, home schooling and so on, we had to take up additional digital products and services to keep on going. We — as consumers — had no choice. And that is different to before.

There was a time before Corona. Also during that time — when we did have the choice — we decided to choose more and more digital products and services. Sure, the lack of choice has given digitization an additional push. But E-commerce was there before the pandemic — it is now more relevant than ever. Video calls were there before the pandemic — but they have now arrived at the center of our society. That became clear to me when yesterday my daughter’s ballet teacher — in her mid-50s and clearly no digital native — explained to me in three sentences how to properly use Zoom.

Some argue that we are experiencing a temporary push of digital products and services which will subside again over time as we return to a version of normal (however that might look like). I would argue the opposite is true. The trajectory of digitization has steepened, and it will not slow down.

We at ImmoScout24 are a major player in the German real estate business. A huge market, and one of the markets that is considered the least digitized. In fact, there is an industry study ranking the biggest 16 industries in the world in terms of digitization levels, with real estate ranking at the very bottom.

When I talk to customers of ours like real estate agents, they are often concerned about digitization. This is driven by uncertainty, a lack of understanding, and a suspicion that the industry is increasingly changing. There is often the emotional sentiment that digitization is something “bad” that is coming over us. Something that a “mysterious power” is doing to us. My answer to that concern is always the same: This is not them, this is us. We are doing this. Not we as ImmoScout24, but we as consumers. You and me, everyone of us.

Consumer First is our mantra at ImmoScout24. Because it is us as consumers who are driving digitization. Admittedly, the speed is slower in real estate than other areas of life. But it is happening. So we as consumers usually have the choice — and we choose digital products. In the pandemic, we didn’t have the choice — and we had to choose digital products. Once the pandemic has been overcome, we won’t go back.

In our industry, consumers will always want transparency and choice. We will always want a personalized experience. We will always want convenience. We will also want guidance and support in complex and cumbersome (and emotionally dragging) journeys like finding your perfect home.

The classifieds industry will change massively over the next decade. It is no longer good enough just to show a couple of pictures online, and the rest takes place offline. It is no longer good enough just to connect the buyer and the seller through a simple contact form, and leave the rest to them. It is no longer good enough to charge money for a listing, and that’s that.

But as long as we stay on top of the consumer and keep their needs and wishes top of mind, we are good. Our priority is to provide the right experience for the consumer — offering transparency, personalization, and convenience. During the pandemic, we pushed offerings like online viewings, digital rental contracts, and much more. This won’t go away, we are just getting started. So Consumer First is here to stay.