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New property technology adoption will help players keep abreast of competition

by • November 19, 2020 • PropTechComments (0)58

New property technology will help real estate agents to keep abreast of the many changes which are happening in the industry

new property technology“Property agents must upgrade to keep up with new property technology or they must die”, said Mr Paul Ho, chief mortgage officer of iCompareLoan.

He noted that many property agencies struggle to keep up with all the regulatory changes in the industry, as well as the changing financial calculations for acquiring a property. He urged property agents to master the basics in property financing, refinancing, taxation and CPF.

Mr Ho said that iCompareLoan.com runs a full 2 – 3 days course on how property agents can produce such reports for their customers. He added that the trademarked course teaches Property Agents how to generate complicated Financial calculations using –  Home Loan Report (TM) – in 3 mins flat. This helps property agents to close deals faster and serve customers more professionally.

The Home Loan Report is a new property technology. It is a Singapore’s first one-of-a-kind analysis platform that provides latest updates of detailed loan packages and helps property agents, financial advisors and mortgage brokers to analyse home loan packages for their clients and give unbiased home loan / commercial loan analysis for their property buyers and home owners.

As buyers of the future grow more discerning, agents cannot afford to just rely on their personality or their experience to attract clients. Buyers and sellers of the future will increasingly rely on agents to have knowledge on property finance calculations and this is where the new property technology like Home Loan report comes in.

This trademarked tool is a one-stop solution that can help deliver a detailed home loan report to property agents in 3 minutes flat. This is especially helpful when agents who do not have knowledge on property finance calculations make cold calls to potential clients and need to have a thorough analysis at hand in order to best direct each client on what their property buying and selling options are.

Such a report will not only help agents deliver the best possible property options to their clients, it will also help prevent the agent or potential buyers or sellers from wasting each other’s time since they already have all the information they need on the potential client’s buying or selling prospects at hand.

Property agents who want to continue working in the industry must set themselves apart with new property technology and position themselves as thought leaders, especially in this day and age where digital marketing largely drives the economy.

New technology changed the world at an unprecedented pace during the 2010s. And it’s only going to get faster in the next decade.

As driverless cars take to the roads, parking spaces will become less necessary. In their place will be homes, shops, and warehouses for last-mile delivery, says Myles Huang, Research Director, JLL Asia Pacific. “Large, stand-alone parking garages, especially near airports or other tourist attractions, can be converted into hotels,” he says.

With city populations set to keep expanding, more homes will be required.

“The next 10 years will bring even more challenges in terms of housing, congestion, and rising costs in an increasingly dense world,” says Amber Schiada, Senior Director of Research and Strategy, California at JLL.

This is where technology in its infancy today will be used to meet housing demand, says Nick Whitten, Head of UK Living Research & Strategy.

“Rapidly advancing tech could see more homes delivered off a production line by 2030, speeding up delivery,” he says.

The future of good work amidst new technology

Hologram-conferencing may be a reality by 2030 and the standard 9am-to-5pm office job could be a distant memory as more people work flexible hours. But offices will still be needed for the face-to-face meetings and decision-making. And the digital-first office of the future will be designed round individual needs and preferences.

“We’ll see the smart office adopt more of the technology that’s making inroads into smart homes today like devices connected to the Internet of Things and customisation of spaces through digital apps,” says Tom Carroll, head of EMEA and UK Corporate Research at JLL. “A new generation of digital natives coming into workplace will expect an interactive digital experience.”

As real estate shifts toward a consumer product, it will no longer be acceptable to just deliver an office and expect tenants to sign a 10-year lease, says Scott Homa, Director of U.S. Office Research Space, JLL.

“Tenants are looking for real estate that is fast, flexible and fun,” he says, noting consumer preferences for move-in-ready, flexible-term, hassle-free spaces with lots of amenities.

It’s not just for offices. All types of real estate will have to adapt to new technology, even warehouses.

“Warehousing will evolve further again to include childcare facilities, breakout areas and greater amenities,” says Tony Iuliano, Executive Director, Head of Capital Markets Industrial & Logistics – JLL Australia. Like with offices, “warehouses will have to provide greater amenities to get people to work there.”

As governments, companies and employees zero in on sustainability, buildings – as well as their operations – will boost their green credentials.

“The focus will very much be on addressing climate change and how landlords and tenants can make the move to operate at net zero carbon and not play catch-up in the years to come,” says Sophie Walker, JLL UK’s Head of Sustainability. “Buildings and infrastructure are responsible for around 40 percent of the UK’s total carbon emissions. The time to act is now.”

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