Digitization
Shifting banking services from physical branches to digital platforms.
Detailed Description
Digitization
What is digitization?
Digitization is the process of converting information into a digital format for easier storage, access, and manipulation.
How does digitization benefit the real estate industry?
It streamlines operations, improves transparency, reduces errors, and speeds up transaction times.
What role does digitization play in regulatory compliance?
It simplifies monitoring and enforcement of compliance through easily trackable digital records.
What are some examples of digitization in real estate?
Examples include electronic signatures, property management software, virtual tours, and blockchain technology.
What challenges does digitization face in real estate?
Challenges include data security concerns, resistance to change, access to technology, and lagging regulatory frameworks.