The future of technology in property transactions has arrived. It will change the real estate landscape as information becomes increasingly decentralised, the value chain shortened, and deals made more transparent.
The question is how quickly it will be adapted, and to what extent technology will be embraced as friction between traditional practitioners and its adapters are bound to plague the market.
Michael Cheang founder and CEO of Proppeco Bhd, which provides a real estate software management program called Real Estate Management Assistant (REMA), says technology will decentralise information.
Messrs Elizabeth Siew & Co managing partner Elizabeth Siew sees the future of the real estate industry comprising a network of automated systems, encompassing the entire value chain.
It is believed that as the industry matures, it will create the right climate for technology, and if well-managed, it will lead to a more robust marketplace.