States Title, one of the leading forces for disruptive change in the real estate industry, announced today a new third party survey of real estate professionals revealing key insights on how stakeholders (lenders, real estate agents, and title agents) are evolving business operations to meet the challenges of COVID-19. The data shows that there is a transformation underway that puts a spotlight on digital readiness. According to the survey, 59% of real estate professionals say that digital readiness is a critical factor in order for the industry to survive in 2021.
“We are witnessing an unprecedented overnight shift in the structural foundation of the real estate market,” said States Title CEO Max Simkoff. “The real estate industry has gotten a long overdue wake-up call and has been forced to push the fast forward button on innovation. Ready or not – the time has come to adopt and embrace technological change. It’s the ultimate stress test for the entire industry.”
Buying & Selling Homes During COVID-19: Everyone Putting Lives at Risk
During a pandemic, every in-person interaction brings an element of risk. The States Title-sponsored survey found that during the pandemic, the industry has cause for concern when it comes to safety:
Real Estate in Need of Therapy? The Most Social Industry Struggles with Isolation
Real estate professionals tend to be sociable, outgoing people who like to build relationships in-person and COVID-19 has prompted them to change the way they communicate and do business:
Empathy Takes a Front Seat – COVID-19 Forces Culture Change in Real Estate
COVID-19 is driving some positive changes in real estate company culture, with leaders putting a stronger emphasis on empathy, communication, diversity & inclusion, and customer care:
Real Estate Workforce More Resilient Than Ever
Despite the pandemic, Americans are still buying homes, building homes, and refinancing mortgages. Real estate professionals see many causes for optimism about their industry’s present and future:
About The COVID-19 Digital Disruption Survey
This survey was conducted online within the United States by market-research consultancy Researchscape on behalf of States Title from August 12-26, 2020, with 256 respondents who work as lenders, real estate agents or title agents across the real estate industry. This online survey is not based on a probability sample and therefore no estimate of theoretical sampling error can be calculated. For complete survey methodology, including weighting variables and subgroup sample sizes, please contact Kelsey Flittner@ firstname.lastname@example.org.
About States Title
States Title enables an instant real estate closing experience. The company uses machine intelligence and its patented technology solution to transform residential real estate, making closings instant and affordable. States Title’s clients include some of the largest bank and non-bank lenders in the U.S., and the company, which closed or issued insurance policies for nearly half a million transactions in 2019, is growing rapidly. To learn more, visit statestitle.com.
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