Evaluating the Need for Integrators on the Example of Digitalization of Real Estate Business

Abstract

Real estate business in Russia, throughout 30 years of its modern history, shows a trend for a slower growth and transfer to new operation tools. In Russia, differently from other countries, there is still no licensing of real estate activity or multi-listings. That is why it is important to study if this sector of the economy needs to have operations and business processes digitalized. The paper is aimed at determining the demand for integrators on the example of digitalization of real estate business. The main methods used in the work are the method of observation and data collection, the abstracting method and the logical method. The paper demonstrates that integrators in the real estate sector provide services for a commission equal to 20% of users' earnings, which is comparable to the amount of remuneration integrators obtain in hospitality business and taxi. It has been found out that the share of users' earnings that integrators receive for their services is, on average, not less than two times higher of the same indicator in other spheres of economic activity, investigated by the Licensing Industry Merchandiser's Association. Using the Azgaldov-Karpova method, it has been identified that the degree of value of a real estate market integrator exceeds by 2.5 times the peak figure of the value indicator obtained based on statistical analysis of industry average data. According the conducted research study, it has been concluded that the degree of value of an integrator in the real estate sphere is appreciated as immense by market players, which is a sign of high demand for the considered technologies in real estate business. The study presents the prospects of digitalization of real estate business, which represents interest for real estate market players.