In a relatively small survey of 100 senior estate agency professionals, commissioned by Landmark Estate Agency Services, 77% confirmed that they believe the process of buying and selling residential properties will be fully digital or online by 2025, with paper processes completely removed.
The survey findings, which have been captured in an Estate Agents of the Future report, asked agents to consider how the process of buying and selling properties will have changed by 2025.
Agents see a more seamless, tech-led process where buyers will have greater access to information earlier in the process and more automation.
Some 83% agreed that more upfront due diligence and data insights will 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 – 72% – suggesting that it is likely they will spend far less time ‘chasing’ sales updates, due to an increased use of online end-user platforms within the next three years.
The findings also look back at what lessons the pandemic has taught estate agents, as well as consider where improvements could be made, what the appetite is for technology adoption and what the estate agent of the future might look like.
Ben Robinson, managing director of Landmark Estate Agency Services, said: “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.”