As soon as he took on the role of CEO of ERA Portugal at the beginning of 2020, on the eve of the pandemic, Rui Torgal decided to cancel the real estate network's annual convention. A decision that “caused a commotion,” but which he considers to have been “courageous.” More than five years have passed and much has changed in the real estate brokerage sector, especially with the widespread adoption of technology and Artificial Intelligence (AI). “People are and will always be at the center of our vision for the business,” he tells idealista/news in an interview where he discusses, among other topics, the need to increase the supply of housing in the country, especially on the outskirts of Lisbon and Porto. A new-build solution which, according to the real estate expert, will only work if mobility is improved as well: “We cannot look at one without looking at the other.”

The professionalization of the sector and of real estate agents was also a subject of discussion during the conversation held at the ERA Portugal offices in Lisbon. “When a real estate consultant works with us, and I’m talking about the vast majority, they work only with us, this is their full-time job. They receive very rigorous training. (…) We take the role of the consultant and professionalization very seriously,” assured Rui Torgal.

Recalling that 2024 was the company’s best year ever, the CEO of ERA Portugal anticipates new record highs in 2025. “In March — which was our best month so far [the data for the first semester will be published soon] — we had a 34% increase compared to the same month of 2024. In the first quarter, we’re already growing about 25% over a year that was itself the best ever [2024]. I estimate that growth in this semester, compared to the first six months of last year, could be around 40%,” he reveals.

Rui Torgal, CEO of ERA Portugal
Credits: Gonçalo Lopes | idealista/news

He took on the role of general manager of ERA Portugal in January 2020, just before the pandemic. How do you look back on this period of activity?

Yes, and it was a challenging time because my first decision was probably the most controversial one and caused upheaval in the network. It was pre-COVID, lockdown began in March and we had a convention that month, and the first decision I took as CEO was to cancel it. That decision was made in January. It was like going in with both feet, as they say in football terms (laughs). Back then, people said it was probably a rash and hysterical decision. But the truth is that it was courageous because we were able to anticipate what would happen. From that point onward, we entered a period of lockdown with enormous challenges. Suddenly, we had to work in an activity that is typically about being on the street, on the ground, meeting people face to face — and we had to do it remotely, something that was entirely counterintuitive to the principles of the business. But we were able to adapt very easily.

And the truth is that after a slight decrease due to the circumstances and context we were in, we have grown results consistently. Year after year, after that more turbulent period, we have grown steadily. In 2024, we had our best year ever and in 2025 we’re seeing extraordinary results, growing well above the overall market growth.

I feel that the company is well-organized, interconnected, and that there is an excellent relationship between the central structure — which is ERA Portugal — and its franchisees. When that relationship of trust and mutual support exists, it’s usually a good sign.

Pandemic, digitalization, AI... What changed or is changing in real estate brokerage and how do you anticipate these changes?

First of all, the use of digitalization and more advanced technological tools was evident from the pandemic onward. From remote meetings to the paperwork involved in deeds, everything was to some extent digitized and simplified. And we entered a process that is irreversible, driven by external factors that forced companies to adapt.

There is a revolution — a revolution in personal and business life. AI tools will increasingly be at the disposal of companies and business. We look at this topic with great enthusiasm and optimism and are fully open and receptive to incorporating and using them. But we are also certain of one thing that is absolutely fundamental to us: technology is there to help people do their job faster and better, but the human element will always be part of this equation. No one should think that we’ll have a fully tech-driven business and that people will be left out. People are and will always be at the center of our vision. What those people will have are extremely powerful tools to do more and better, give better answers, and be more professional with clients.

“Technology helps people do their job faster and better, but the human element is always part of this equation. No one should think we’ll have a fully tech-driven business and that people will be left out. They are and will always be at the center of our vision.”

Do you already feel the impact of AI on real estate brokerage? Are there more positives than negatives?

There are more positives, but we also need to be aware that AI tools can produce very uniform discourse, very uniform responses, and we want to stand out by being different. AI will always do what humans do more slowly, allowing humans to excel at what is uniquely theirs.

What I believe in is a real estate brokerage model that will always be people-to-people. Trust is built person-to-person. Information can circulate faster and more completely, but deals happen when people look each other in the eye and trust the person showing them the property. That will not change.