We conducted a technology and product due diligence dry run on PropTech Company Hausgold, as a preparation for upcoming TechDDs. The assessment was requested by Hausgold themselves to get a profound and professional estimation of their own technical fitness. Hausgold provides leads to real estate brokers and supports them as well as real estate sellers with their digital platform solution. The objective is to provide both sides with more transparency, quality, and an overall better process and experience.
Real Estate Sellers and Brokers Face High Complexity and Low Transparency
When homeowners sell their property, they are often facing high complexity and emotional challenges. As this is usually a once in a lifetime event, over 50 percent of sellers seek the help of a realtor for this reason. The selection of a correct broker is however frequently characterized by uncertainty. Often only the gut feeling decides, because the quality and efficiency differences are immense and hard to compare due to lacking transparency in the market.
On the other hand, brokers want to acquire sales properties because that is the key to success. But in the highly fragmented real estate market, it’s nearly impossible for brokers to build scalable marketing. And without clear processes and online expertise, competitive differentiation is nearly impossible.
Property Tech: Finding the Best Broker for Each Seller Through a Digital Platform
Hausgold is a PropTech company that brings real estate sellers and real estate agents together on a digital platform. The goal is to make the entire real estate sales process easier, more transparent and successful. This is done by looking for particularly suitable real estate agents for the property seller and, with their platform, ensuring a secure, simple and individual process so that this emotionally and financially very significant event in people’s lives is managed properly. On the other hand, Hausgold supports brokers in the acquisition of objects for sale and enables them to offer their customers a better service.
Helping Hausgold Determine their Tech Health
P&B carried out a TechDD Dry Run at Hausgold on their own request. The objective of the tech and product assessment was to get an overview of the product itself and of the team, its processes, architecture and best practices across the product and engineering teams in order to identify potential risks in preparation for a regular tech due diligence. This report was designed to provide an initial indication and overview of the company’s technical health at the time and to function as a basis for discussing further steps.
During the assessment, we vigorously looked into the way Hausgold’s business strategy and models are reflected in their technical solutions and business processes on the one hand and their teams and culture on the other. In an end-to-end approach, we analyzed leadership, product organization and management, teams and organization, as well as architecture, hosting, infrastructure, software delivery, quality assurance, security and privacy.
Based on the findings we provided a set of recommendations, in particular around Architecture, CRM, Tech Leadership, Team Setup, Product Management, and Security. Hausgold picked up these recommendations as part of their further growth and development strategy.
Hausgold is a fast-growing PropTech with the goal to make the real estate business easier, more transparent and more successful for everyone. Thanks to their self-developed algorithm as well as the collected data about the real estate market and the performance of brokers, Hausgold is one of the largest and strongest digital real estate platforms in Germany, achieving a market coverage of 100 percent. In a highly fragmented environment, they offer a simple solution and identify the most suitable real estate agents for the property for sale in each case. Furthermore, with their digital broker management tools, they facilitate real estate transactions for brokers and lead them to valuable customers.