The majority of property sector professionals reported that technology has helped improve both the operational efficiency of the property market, as well as the consumer offering provided to buyers and sellers, the latest industry insight from Material Information and Moverly has revealed.
As part of the survey of property professionals, 90% said that the advent and introduction of technology has notably changed the landscape of the UK property market.
In addition, 76% believed that due to advancements in technology, the property sector has changed for the better when it comes to the operational efficiency of how we buy and sell homes in the UK.
Lastly, 70% also believed that the advancements of technology within the sector have helped to improve the experience provided to buyers and sellers.
Gemma Young, CEO of Moverly, said: “The industry has come a very long way thanks to the evolution of technology and it has allowed us to streamline the property transaction process immensely, whilst also providing a better product to the consumer as a result.
“However, it’s fair to say that there’s still some way to go and whilst there will always need to be a balance between great tech and great people, current technology offerings are fragmented at best.
“As a result, there remain many areas of the home buying and selling process that are susceptible to operational inefficiencies and we believe that upfront material information is the next step in improving the process so that the other cogs in the machine can continue to turn unhindered.”