{"id":63806,"date":"2017-08-16T09:59:45","date_gmt":"2017-08-16T02:59:45","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/property-agents-to-benefit-from-technology\/"},"modified":"2017-08-16T10:08:51","modified_gmt":"2017-08-16T03:08:51","slug":"property-agents-to-benefit-from-technology","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/property-agents-to-benefit-from-technology\/","title":{"rendered":"Property agents to benefit from technology"},"content":{"rendered":"


\nIn the future, agents could have access to government data to check the owner of a particular flat, a property\u2019s floor area or the immigration status of potential tenants.\u00a0
\nThe government has revealed that there have been several moves in leveraging technology to improve the process for property transactions, but more growth is needed in this segment, reported the Straits Times.
\nSecond Minister for National Development Desmond Lee said this during PropNex\u2019s Quarterly Convention on Tuesday (15 August), while providing an update on the ministry\u2019s Real Estate Industry Transformation Map unveiled in March.
\nSEE ALSO: New York property agents sell homes via Snapchat
\nWith advanced technology, he said real estate agents can automatically sift through government data to check the owner of a particular flat, a property\u2019s floor area or the immigration status of would-be tenants. However, this innovation is still being studied.
\n\u201cToday, there are still a lot of manual processes in a property transaction, which can be time-consuming\u2026 If these are reduced, property agents can focus more of their time on higher-value work such as giving quality advice, personal touch, the human touch, and offering additional services to their customers,\u201d Lee noted.
\nHis suggestion was lauded by OrangeTee Associate District Director Jasmine Lau, who said it would lead to less paperwork cost on the side of agents, allowing them to focus on other things like customer service, marketing and strategy.
\nWhile she called on the government to ensure that the upcoming innovations would not make property agents redundant, Lee explained that the property sector must face \u201cthe new realities\u201d of slower manpower and economic growth.
\nAnother technological push is for property agencies to make available the info of their agents online, including track record, so clients can rate and review them, said Lee, noting that OrangeTee introduced such a platform in February 2016.
\n\u201cThis is an aspect which (the Council for Estate Agencies) will continue to encourage and study how to bring about wider acceptance and adoption within our industry.\u201d
\nHe added that OrangeTee\u2019s platform had increased commissions and sales transaction numbers, based on research from the National University of Singapore\u2019s School of Design and Environment.
\n\u201cThe ability to respond and innovate is important to keep abreast of technological advancement\u2026 OrangeTee\u2019s Property Agents Review is a significant step in this direction,\u201d said Ong Seow Eng, the study\u2019s lead researcher and a professor in the Department of Real Estate.
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Property agents to benefit from technology<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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