Michael Gale's Futures In Focus Luke Johnson - Digital Transformation in the housing and mortgage markets
Luke Johnson discusses the existing issues in the housing and mortgage markets, which are characterized by outdated processes and lack of digitalization. The need for reform and digital transformation is highlighted. Technology can play a crucial role in providing real-time, transparent education to consumers, empowering them to make informed decisions. AI has the potential to streamline processes and improve decision-making. Over the next 10 years, transaction costs in the real estate market are expected to decrease significantly. The industry may undergo M&A activity to adapt to the changing landscape. The most pronounced changes will be seen in transaction cost management and improved access to realtors, driven by technology and consumer demand for a streamlined experience.
Read Michael's corresponding article on Forbes here: