www.PropTechConsult.com, the digital transformation experts for the property industry, have partnered with Show House to undertake research into how firms in the sector are dealing with digital transformation.
Over the past four years, PropTech has attracted over $6bn of funding. However, the long-term success of most PropTech solutions will require the commitment of traditional property players in order to succeed.
To make such commitment, the property industry has come to realise that it must undertake a wider digital transformation. PropTech Consult and Show House have launched this survey to help those in the sector understand how prepared their organisation is for digital transformation.
It is predicted that companies will spend 5% of their annual budget on digital transformation in the early stages, and such research is vital to give companies an understanding of where to invest their resources.
The research aims to build an international, cross sector analysis of the property industry and to identify trends in each that provide a good foundation for future learning and evolution.
The research – which is the first to seek input from the property industry, rather than from PropTech firms – is being distributed through a range of industry partners including RICS, global events company MIPIM and the British Property Federation.
It is hoped that the research will ultimately provide feedback and understanding to the industry on which areas of digital transformation offer them opportunities and also identify key threats.
James Dearsley, Partner at PropTech Consult, said, “We hope to develop an understanding of how equipped the property industry feels about its ability to embrace the digital transformation of the largest asset class in the world. We are delighted to be working with some of the largest and most respected media and corporate partners in the UK to develop an insight into both residential and commercial property and housebuilding.”
Eddie Holmes, Partner at PropTech Consult, added, “We have seen a number of surveys focusing on PropTech businesses but nothing that has properly engaged with the property industry. Our short survey, which should take 10-12 minutes to complete, is designed to pose questions that the property industry needs to begin to answer. This is the largest systemic challenge posed to the property industry in its history and we look forward to sharing some provisional results in the New Year.”
To take part in this ground-breaking research, please visit: https://www.surveymonkey.co.uk/r/ptcshowhouse