Déborah Fritz, the founder of MYRE, was Thomas Blard's guest on the Business Models programme on the Télésud channel. She explains the situation on the real estate market, outlines the approach taken by MYRE and the challenges that the startup is facing, while sharing her human-focused entrepreneurial experience.
Major changes in the real estate market
MYRE is a solution to meet the new and growing needs of the real estate market. A good deal is at stake since there are still obstacles to digitization in the market, due to resistance to change on the part of some players in the real estate sector.
But there is also a real enthusiasm on the market. It only began in 2015, so it is very recent, and we are facing resistance to change from the human side. I mean that the technology is ready, but people have not yet made the change. We need to carry out real change management in a sector that moves more slowly than others.
The real estate industry is nonetheless heading towards digital transformation. As we can see, there was widespread fundraising on the proptech market in 2020 and early 2021, and there are more and more players involved.
New ways of working in the office
Déborah also gave her view on the future of the office, which will have an impact on investment strategies in professional real estate. Since working from home is now part of company life, the office as previously understood has now changed, but is still an essential venue for socialization.
What we have seen as a startup, with an average age in the team of about 25 to 29, is that young people like to come to the office, and to have a professional social life.
These new habits are expressed in a reorganization of office rentals, with rented suites that are smaller and distributed over several different sites. What's more, new work spaces will be created.
We have seen that staff can work with no problem from home with today's technology, so we will have to motivate them to come to the office because, for the organization, the staff's presence makes shared work easier.
Why should the sector be digitized?
In recent years, the real estate sector has seen crucial turning points, prompting it to adopt digital technology, in particular with the financialization of the market and a health crisis that has changed people's behaviour.
The financialization of real estate with "cut and paste" models like those seen in the world of finance means that we now need to access data more quickly, to create models, for example, to make forecasts and emphasize the financial aspect more. So we need tools.
In this changing market, real estate investors need to be more reactive and to make the best possible decisions. So they need efficient tools to manage their real estate assets in real time and to access all their data.
MYRE the solution to manage data
Using MYRE has a range of different advantages. First of all, the chance to have a single and shared platform means an asset manager will save 30 % of the time initially dedicated to collecting data and can allocate it to enhancing asset performance.
With MYRE you will have access to all the property's management data.
What's more, the quality of the data is a major priority for MYRE, which aims to provide reliable analyses in order to improve decision-making. According to a Harvard study, it costs ten times as much to complete a unit of work when the data are flawed. This is why MYRE has set up simplified data management processes to ensure data are more reliable, to work with accurate analyses and to take genuinely beneficial investment decisions.
A wide range of algorithms can be added to make cashflow forecasts, arbitrage decisions, etc.
MYRE is developing rapidly and aims to expand sales of the solution on the international markets and to provide just one working environment for all real estate players through partners supplying complementary solutions. These goals are accompanied by major challenges in terms of growth management.
Lastly, Déborah shared with us the inspirations and driving forces that have enabled her to move forward throughout her entrepreneurial experience. If we could sum up her career, it would be first of all a human experience developed around strong values: cohesion, ambition, trust, and high standards.
