Agents and service providers believe ensuring compliance with legislation and professional standards is their greatest challenge, according to research produced as part of our paper Software and Technology use in the Real Estate Sector – Agent Challenges.
From a list of challenges currently facing agents, compliance with legislatory and professional requirements achieved an average rating of almost four out of five (3.99) across all agents surveyed. Cost cutting by investors and occupiers follows closely behind on the list, receiving an average rating of 3.92.
But the research – produced in collaboration with leading industry magazine Property Week – shows that nearly two in every three agents believe software and technology can help them overcome their “main issue”. This overall proportion increased to 76 per cent among those who considered compliance with legislation and professional standards their biggest challenge.
John Cuppello, CEO of Qube Global Software, comments:
“The report highlights that a large proportion of respondents are struggling to comply with regulatory and professional standards. This is something that all software should support as standard.
“However, it may be that these companies do not realise that this functionality is already in place in their existing systems or have not sought the required training to fully utilise these solutions. As mentioned in previous research and reports, we encourage the industry to fully engage with their suppliers to maximise the solution they have already invested in.”
About the Study
The Software and Technology use in Real Estate – Agent 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.