QuintoAndar invests R$ 2 billion in technology by 2028, with focus on AI

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The idea is to allow customers to access rental and real estate buying and selling services as if they were having a text or voice conversation. He said WhatsApp chats with the company will also be integrated into the user’s history within the app.

Paradoxically, the company hopes that with more technology, it will be able to reach a wider audience in terms of age, including those less receptive to innovation. “Anyone can interact with artificial intelligence through text or voice, no matter how unfamiliar they are with technology,” Braga said.

The R2 billion will be invested in Quint Andal’s own team and does not include any mergers or acquisitions, Braga said. Investment funds will be provided by the company’s operations. “Currently, the company is profitable and already self-sustaining.”

The company is now using artificial intelligence and has already seen an increase in conversion rates and completed transactions, according to the CEO, who declined to provide numbers. He said he had no doubt that the investment would generate returns within two years. There is also a recognition that if the company fails to invest in technology now, it will be left behind in this space.

In real estate pricing, AI can not only help determine the right price, but also “speak” to users to understand their motivations for putting a property on the market, thereby encouraging customers to accept that price, he said.

Braga said the technology also participates in customer credit evaluations and acts as a “coach” for real estate agents, showing them which consumers are in the best position to close a deal and assisting with scheduling.

But he says the role of real estate agents is not going away. “There’s a physical element to the job that remains offline. People still need to see properties,” Braga said, also noting the sense of security that agents can provide to clients when completing a transaction.

He said the company continues to expand its network of partner real estate agents despite investments in technology. When asked about the current number of partners and growth rate, Quintandal said only that the company works with “hundreds” of real estate agents.

QuintoAndar does not disclose sales figures. The CEO said an initial public offering is a “path” the company will take “probably at some point,” but no timeline has been set. Priority is given to overseas IPOs.

Most of the AI ​​team is based in Lisbon, where we also have an office, but the technology investment announcement coincided with the opening of our new headquarters in São Paulo. The new office occupies 7,000 square meters in Villa Leopoldina in the city’s western zone, representing a 75% increase in space compared to the company’s previous office in Villa Madalena, also in the west of São Paulo.

QuintoAndar also has offices in Belo Horizonte and partner hubs in Rio de Janeiro and Porto Alegre. The company operates from a co-working space in Lisbon.

The company did not disclose the amount invested in the move. Office space in Villa Leopoldina is currently being rented for 100.77 reais per square meter per month, and the monthly rent for the new office will be 705,400 reais, according to consultancy Binswanger.

Arquipeo, owned by Brookfield, is also home to the Brazilian operations of marketing and public relations firm WPP. Chief Human Resources Officer Deborah Abi Saber said it took three months of construction work to adjust the office space.

Braga said the company has increased headcount, but the move is not due to headcount increases, but rather a desire to provide a more attractive workspace for teams operating under a hybrid work model. The system that combines office work and remote work will continue to be maintained. “We don’t want people to come just because they need to,” he said.