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ADSL Saves Property Dealers Cash

Posted: 27th Mar, 2003 By: MarkJ
UK ISP BTOpenworld has today announced the results of its latest survey into the use of broadband ADSL Internet access by property dealers; can you guess the outcome?

ESTATE AGENTS GAZUMPED BY BROADBAND BUSINESS

The recent boom in the property market has delivered a boost to advanced technologies, such as broadband, among estate agents.

According to statistics produced by BT Openworld, the speed of transactions within the market means that firms relying on traditional ways of selling properties are operating at a significant disadvantage. In a recent survey, more than half (55 per cent) of property dealers questioned said that they now communicated with clients, surveyors, solicitors, photographers and printers primarily via email and the internet.

Of those with broadband installed, more than 90 per cent also stated that the use of the high-speed connection had saved them money, both in terms of reduced postal costs, and increased efficiency of staff.

Given the large size of the files that estate agent's communications carry - such as building images, and increasingly 'virtual tours' of properties - broadband has become the only feasible option for progressive property marketers. Similarly, the speed of the market dictates that companies unable to instantly share this information with vendors, potential buyers or solicitors risk losing sales.

These figures reinforce a wider trend in the small business community, which was forecast by research carried out by Fletcher Advisory. The research revealed that, by the end of 2005, UK SMEs using broadband will be saving themselves a total of around £4.5 billion per year, equivalent to five per cent additional profit in terms of productivity (£3.3bn) and cost savings (£1.3bn).

Duncan Ingram, managing director at BT Openworld, said: "There are specific pockets of innovation in the UK business community at present, and the estate agents industry is one of these. The boom in the property market has proved to be a catalyst for the uptake of advanced technology-driven solutions.

This should result in an improved service for the consumer,
" Ingram continued. "For instance, buyers will no longer be forced to make a decision on a property based on one photograph. A broadband link – which offers connection speeds of up to 50 times faster than standard dial-up - will give buyers access to services such as 360 degree, interactive tours of properties."

This research follows on from BT Openworld's recent announcement that it has made it cheaper for people to go online with broadband, with free activation and lower prices for ADSL modems and microfilters. Full details are available at http://www.btopenworld.com/broadband
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