Will technology Do 90% Of Real Estate Service Job In A Decade?
I recently I have gone through a new report from RICS predicting that in a decade, up to 90% of the core tasks undertaken by people in real estate service firms could be done by technology.
As we are heading towards the end of the year, reviewing our performance and planning for the year ahead, we always allocate time to evaluate our strategies and make sure that our business model and services are matching the needs of our customers. And this report has boosted our confidence that we are heading on the right direction.
The report, The Impact of Emerging Technologies on the Surveying Profession, looks at how a sector that has been slow to adapt to technological change is expected to be affected during the coming years.
But are all the tasks within real estate services susceptible to automation?
Top of the list in the report predicted to be 100% automated within a decade were:
- Collection of rents and charges,
- Examination of financial information
- Obtaining property information
- Preparation of contracts
Following with a 90% chance of automation were:
- Property valuation
- Evaluating the condition of property
- Risk management
- Monitoring market conditions
But according to the report there is one role in the industry completely safe!
There is a 0% chance that the buying and selling of real estate will be automated in the next 10 years. Sectors that require direct consultation and discussion with clients, have a lower likelihood of being taken over by technology.
In GKInternational providing personalized services is one of our core values. We embrace technology but also understand that the human factor cannot always be replaced, especially when the service provided supports higher value investments and not daily lower value transactions. We utilize the latest technology to free up time from laborious tasks in order to be me more focused on the needs of the people we serve.
Thinking ahead and always putting ourselves at customer’s place GKInternational was created focused on the special needs and wants of each of our clients. We understand that each client is unique and our goal is to ensure every client is matched to the property that suits its need best. Customer satisfaction is our number one priority, therefore we best assess clients’ needs and requirements in detail so as to determine the best way of action through integrated real estate services and tailor made solutions. Our job is to search, identify, review and deliver handpicked properties according to our customer’s specific requirements.
It is true that technology and automation helps business saving money and time, reducing needed workforce and providing a 24/7 standardized service to their clients. But are your private and corporate targets standard?
Ask yourself the following:
- Would you ever proceed on a multimillion pound investment at a foreign country through the internet and without contacting a specialized professional?
- Would you be happy to express your personal and unique needs and wants to an automated client service system instead of a personal human consultant?
- Can automated systems understand all of your concerns and personal needs related to a high value investment?
By our opinion machines can do a lot, but at the end of the day, nothing can replace the added value direct consultation can provide. For us, offering a distinctive customer service combined with local market awareness and a deep international industry knowledge, is our contribution in the world of property.