Italian real estate brokerage invests in the continuation of proptech advancement

Tecnocasa Group, a leading network of franchising real estate brokerage agencies that boasts over 3,300 real estate and credit mediation partners across nine countries, has recommitted to its digital strategy by breaking into the major Italian property portal Wikicasa by way of its network services subsidiary firm, Tecnomedia.

Wikicasa, in turn, has currently assembled over 10,000 active agencies with more than 600,000 published listings and 3 million in monthly site traffic - all in the name of helping property-focused professionals better break into the increasingly digital industry.

Alessandro Caglieris, Managing Director of Tecnomedia, said:

"The first step in the real estate search is increasingly through the digital channel - today more than 75% of buyers of a property say they have used the web and real estate portals to identify the desired property. Our goal is to provide our affiliated agencies with the best tools to do their job, professionals must differentiate themselves and offer their customers an increasingly innovative transparent and omnichannel service."

Upon the transaction’s completion in December of 2019, the Milan-based group now holds a 33% stake. The funding was implemented with a combination of share purchases and capital growth.

Pietro Pellizzari and Alessandro Caglieris agree that Tecnocasa Group joining the company's pool of shareholders is a reflection of common investments that offer a better quality service to its customers.

Pietro Pellizzari, CEO, Wikicasa, said:

"The entry of the Tecnocasa Group into the corporate structure strengthens our growth from a strategic point of view, as a system project, and at the same time allows us to accelerate the development plan with significant investments in marketing and technology. We have the three main Italian real estate groups in the corporate structure and we have not abandoned the idea of allowing even the smallest operators to enter in the capital."

SOURCE Tecnocasa Group
Edited by V. Haviland