Crack in the foundation: 5 critical issues destroying the property market from within

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The real problems of the property market lie deeper, in the very system of human interaction, which remains remarkably archaic and inefficient. And while sellers are struggling with the consequences rather than the causes, everyone suffers: the professionals themselves, their partners and clients, and the market as a whole.

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42% of a Realtor's time is spent on tasks not directly related to sales and client interaction (NAR, 2023) - data processing routine consumes the lion's share of resources, leaving less and less time for what really matters.

Over 60% of Realtors use 3 or more different platforms and digital services, to work with properties, clients and partners - coordinating data manually (Inman, 2023) - information chaos and lack of a single point of access creates errors, delays and conflicts.

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The cost of attracting one lead (potential customer) in the property market has increased by 63% over the last 7 years (HubSpot, 2023) - traditional marketing methods are losing effectiveness and promotion budgets are increasing.

Less than 2% of cold calls end in a transaction (Keller Centre Research Report, 2022) - realtors have to spend huge resources on prospecting (Keller Centre Research Report, 2022).

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91% of realtors operate exclusively in the domestic market (Statista, 2023), missing the opportunity to attract foreign investors and high-cheque clients.

Meanwhile, cross-border property investment exceeds $1.5 trillion per year (Knight Frank, 2023) - which is strongly pronounced on the Euro-Asian continent, and is a huge market segment that remains out of reach for the vast majority of realtors.

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77% of Realtors have experienced situations where irrelevant or inaccurate information from partners has led to a deal breakdown or conflict with a client (PwC, 2022).

The lack of uniform work standards, transparent interaction schemes and effective communication tools turns partnership in the property market into a lottery with unpredictable results.

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Less than 10 percent of real estate agents are using data analytics, artificial intelligence or virtual reality tools in their work (Deloitte, 2023) - technologies that could fundamentally change the way they approach sales and customer service remain untapped.

This leads to a decrease in the competitiveness of the industry as a whole and creates a negative image in the eyes of tech-savvy customers.

The property market needs urgent ‘renovation’. Ignoring these problems threatens to have serious consequences for the entire industry of dealmakers. Digitalisation, automation, globalization - for PRO's these are not just buzzwords, but the key to surviving and thriving in the real estate market of the future.

Tired of technically and morally outdated sales systems and no longer want to lose profit due to inefficient tools??

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