Real estate investors are continuing to significantly upgrade their software and technology resources, according to the recently-released Software and Technology use in the Real Estate Sector – Investor Challenges.
Of all the companies surveyed, 83 per cent have either already or are planning significant investment in new technology or software. More than one in five investors (21 per cent) claim they have recently done so, while 24 per cent say they will within the next year. Around two in ten expect to make this significant investment in one to two years (18%) and between two and five years (20%).
“These results are recognition among property investors of the discernible benefits offered by an effective software package,” says John Cuppello, CEO of Qube Global Software. “Ultimately, it can act as a key business partner by reducing unnecessary overheads and driving profit.”
“But, at the same time, businesses can often make the improvements they are seeking through to their existing solutions,” he continues. “These companies are not following up on their initial investment by re-training staff or simply engaging with their suppliers. We therefore urge them to push their suppliers to derive the maximum benefit from their initial investment.”
About the Study
The Software and Technology use in Real Estate – Investor Challenges paper was research commissioned by Property Week in conjunction with Qube Global Software. It features data from more than 800 responses to a survey of property investors, occupiers and agents.