Trident Building Consultancy survey 1

95% of surveyors support use of proptech

A new survey has shown UK surveyors have an overwhelmingly positive view of proptech.

The research was conducted by Trident Building Consultancy in association with RICS, GoReport and Teesside University.

The poll was completed by 300 surveyors across the UK, focusing on their thoughts on technological developments. The survey found that 95% saw proptech as an opportunity rather than a threat to their role.

Trident Building Consultancy Survey 2

However, while the feeling was positive, the survey found that companies still had a long way to go to full embrace new technology. While 59% of respondents said their organisation was using some form of proptech, only 38% said their company had a formal digital strategy. Meanwhile, 57% said they felt they don’t have a good understanding of proptech.

The survey also explored the challenges preventing companies from adopting proptech. The most popular reason was a lack of knowledge and training, with cost also being a main factor. Other barriers included a lack of clarity on benefits of new systems and uncertainty as to which systems would best fit the company’s needs. Additionally, 40% said they were happy with the traditional methods used.

Trident Building Consultancy Survey 3

Louise Weale, tech affiliate programme lead at RICS, said: “Whilst research shows that the outlook for the property professional of the future is bright, roles will be very different in future. There is an increasing need for professionals to develop new skillsets as the industry is impacted by technology and changes in the way real estate is built, owned and occupied generates new business models.

“Standards, both technical and behavioural, are also becoming increasingly important. With this in mind, RICS is working with technology companies and engaging market stakeholders to identify and address the risks and opportunities for the future of the built and natural environments.”

Dr. Kevin Thomas of Teesside University added: “Proptech is fast becoming an integral part of the surveyor’s every day role and even if you do not engage with it at present, there will be no alternative but to engage in the very near future to ensure you and your organisation meet the increasing expectations and demands of your clients.”

Read the full report here.

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