Change brings opportunity
In our everyday life, as more and more tasks become digitised, the technology available to us is being adapted and enhanced at a rapid rate.
Over the past few years the real estate industry has been focusing significant energy on technology and innovation and how they can help improve productivity and provide even better customer experiences.
The recently released fourth edition of KPMG’s Real Estate Innovations Overview, in collaboration with Global PropTechand Holland ConTech & PropTech, shows just how much, changing technology will drive transformation of the industry over the next few years.
KPMG has identified a set of key industry trends – in the image below – that they believe require technological solutions to ensure real estate businesses can adapt and thrive.
Global Lead of Real Estate Consulting, Sander Grunewald, says the Real Estate Innovations Overview shows a bright future across real estate for those leveraging innovation, but only if it is part of a long-term strategy.
“The real estate sector needs to act to embrace innovation and increasingly recognise the opportunities of this digital transformation in their strategy,” Grunewald says.
“Over the past three years we have seen an increase in interest in PropTech and real estate innovations.
“In our view, any real estate company not exploring and exploiting property technology and innovation should question its strategy.”
Recently more than 700 speakers from around the globe shared their technology ideas at the 5th FUTURE: PropTech event in London.
Key players in PropTech, like Heather Staff, the co-founder of Spectrean online tool that helps agents find properties to sell, described how quickly things are changing.
“Until recently there has been a lack of innovation in the area of helping agents do their day to day job better so there will be a lot happening in that space in the next few years,” Staff says.
RESO CEO Kate Chalk says Real Estate Sales Online(RESO) is an example of technology that helps agents work more efficiently – reducing their costs of doing business through automation, speed, a seamless end-to-end process and scaling of the property purchase.
“Agentswho use the RESO platform can upload a property in a matter of minutes and provide buyers 24/7 access to the registration, offer and contract process,” Chalk says.
“More and more agents are sharing with us that time and energy are being saved in spades with buyers being able to access all stages of the buying process online and respond to the different stages instantly wherever they are in the world.”
To see how RESO can help agents improve their efficiency and enhance relationships with buyers go to www.reso.com/agents/