A new survey of 100 experienced real estate agency professionals found 77% believe the process of buying and selling residential properties will be fully digital or online by 2025, with paper-based processes removed altogether.
The results of the survey, commissioned by Landmark Estate Agency Services and which were captured in a report on real estate agents of the future, asked agents to examine how the process of buying and selling properties will have changed. by 2025. Agents see more transparent technology, a directed process where buyers will have better access to information earlier in the process and more automation. 83% agreed that increased due diligence and insight into the data would help buyers make more informed decisions earlier and receive fewer surprises later in the legal process.
This will cause the role of the negotiator to evolve, with almost three-quarters (72%) suggesting that they are likely to spend much less time ‘chasing’ sales updates, due to overuse. increased online end-user platforms over the next three years.
The findings also examine the lessons the pandemic has taught realtors, as well as where improvements could be made, the appetite for technology adoption, and what the realtor of the future might look like.
Ben Robinson, Managing Director of Landmark Estate Agency Services, said: “Without a doubt, the pandemic has focused industry attention on PropTech and on ways to improve efficiency when buying and selling properties. It’s interesting to see so many people suggesting that the paperless office is within reach, with a greater reliance on data and digital solutions to support agents.