Customer Communication Trends Within the Property Industry

How are communication methods within the property industry shifting? As traditional processes become digitised and the number of data points increase, the real estate sector is seeing some big changes.

In the latest episode of Beyond the Document, we discuss the latest trends and developments with a specialist in the property tech space. He shares his knowledge and predictions for the future.

‘Beyond the Document’ is Formpipe’s monthly podcast which covers everything across Output, Document and Customer Communications Management.

Read on to see an overview of what you can expect from this month’s episode.

Who is on the show?

This month, we’re joined by Dharmesh Mistry, who has over 30 years of experience in the Tech industry primarily within banking. He’s worked on projects such as the first ever UK mobile banking solution, and delivering online voting software for the British government.

Now, he’s moved his focus to the property-tech industry and is the CEO of ‘AskHomey’, a technology platform aimed at helping homeowners or renters save time and money managing their home.

What’s covered in the chat?

The pace of adopting technology within the property industry – The property sector (like banking) has been known for being ‘behind the times’ when it comes to adopting new technology. But, is it the industry that’s behind, or the customers’ reluctance to change? Dharmesh discusses.

Centralisation of documents – Property information such as utility bills, mortgage statements and insurance policies live everywhere - our laptops, phones, in the cloud, at home in a folder, you name it. Dharmesh talks about the importance of centralising these documents and how to do so.

Estate agents and property data - How are technology advancements benefitting estate agents and how is property data being handled?
Slow transaction periods - Find out why there’s typically a slow transaction process within real estate and how this relates to communication methods and exchanging information.

Auditable data and automation – Because data is auditable, Dharmesh explains how this can make life easier for property buyers. Loan applications can be automated, requesting data for land registry can be done online, and searches can be done on the web. This data can also remove friction between third parties.

The availability of property data – While there’s rules and regulations around accessing personal data, a lot of property data is freely available. Sold prices, photos, you can even download somebody’s energy performance certificate. Dharmesh talks about the importance of the authenticity of this data, particularly for house buyers.

The future for property tech – Find out Dharmesh’s predictions for the future, including a ‘single brain client’ which will transform the way a business can communicate with its customers.

Quiz

Roughly, how long does Dharmesh say it takes for a property transaction to be completed?

a) 5 to 50 days
b) 9 to 100 days
c) 20 to 150 days

To listen to the episode, click here to listen on your podcast platform of choice.