According to the survey conducted by RealSource.eu those real estate investors, who constantly follow the new developments on the digitalization area, have a very positive attitude towards the digital changes currently taking place. The aim of the survey was to find out the impact of the digitalization on all stakeholders on this field.
The results make it clear that the overall estimates of the benefits of all digital IT systems are strongly positive. Especially positive statements came from the representatives from banks: 92 % of the responses esteemed them useful. Also the real estate investors and institutional investors considered them useful. Both were of the opinion that the digital IT tools contributed to efficient and smooth property transactions.
This is a remarkably high proportion, especially as the survey includes opinions from several Central European banks. The banks have a very positive and open-minded attitude towards the digitalization because the growth of FinTech.
Due to the new technological solutions the banks have adopted importance of the new procedures, says Markku Aho, the founder of the RealSource services.
When asking about the importance of uniform working methods and the standardization on this field, 89 % of the investor side respondents said that they consider it as a very important factor. All respondents from the bank side were keen on having uniform standards, IT tools and processes.
The positive statement from both groups was based on their view that it will enhance the process by increasing efficiency. Many respondents highlighted the drawback with the current working methods and status: through knowledge on how to use several IT systems efficiently demands a great deal of resources. A few were also worried about the motivation and willingness of the employees to face future changes that are unavoidable: the challenge is simply too high at personal level!
94 % of investors and 92 % of banks believe that digitalization will bring efficiencies to current practices, even in two ways: it will improve the use of resources and enhance the overall actions and functionality on the Real Estate business.
These numbers inevitably tell that the attitudes in the Real Estate business are embracing the digitalization that is on our doorstep. It is also to be noted that in both respondent groups the replies were received from employees who have been in the business for decades (not newcomers), Markku Aho states.
Based on the survey, digitalization is not expected to bring any data security issues. In particular in the banks the security issues have, for long, been well taken care of – and are key elements in their customer services.
Markku Aho closes: ”I can only conclude that the real estate investors and the banks strongly believe in the importance of digitalization and are equally convinced about the efficiency gains that the new tools will bring along.
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Realsource & RealX
Realsource helps commercial real estate investors and advisors to operate faster and easier in a safe environment to close transactions. RealSource.eu marketplace connects the seller and buyer for faster transaction. RealX.pro is a closed real estate sales platform for the Capital Markets segment serving the brokers, investors and banks. One secure platform serving the entire community.