A survey of agents suggests the majority believe the process of buying and selling residential properties will be fully digital or online by 2025, with paper processes completely removed.
The survey is a very small one - just 100 agents conducted by Landmark Estate Agency Services - but it suggests that 83 per cent expect more upfront due diligence and data insights to help buyers to make better informed decisions earlier, and receive fewer surprises later in the legal process.
This will result in the evolution of the negotiator’s role, with almost three quarters of respondents suggesting that it is likely they will spend far less time ‘chasing’ sales updates, due to an increased use of online end-user platforms.
Ben Robinson, managing director of Landmark Estate Agency Services, says: “Without doubt the pandemic has focused the industry’s attention on PropTech and in considering ways where greater efficiencies can be made when buying and selling properties.
“It’s interesting to see so many suggest that the paperless office is within touching distance, with greater reliance on data and digital solutions to support agents.”
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A small sample but a very strong result. There is so much hard work being done in this space it is certainly feasible. Looking at the participant on the working parties, estate agents are not well represented, compared to others in the process. Agents need to be encouraged to engage with the change process to ensure it services them into the future.
Another indication of the tail wagging the dog... Yes agents are keen and aware of this needing to be done, and with solutions being designed to work with the solicitor, they're uptake will be one of the hardest to accomplish.
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