Historically speaking, there has been something of a stigma attached to firms operating across the mortgage market akin to the fact they are not innovative enough, behind the tech curve and/or not doing enough to attract the next generation of talent to join their ranks.
The question is – have the past couple of years kicked these stigmas into touch?
The answer will typically depend on individual perceptions and performance. From my viewpoint, we are operating in an industry with a long and successful history of innovation.
Technology is a trickier one. While many areas and firms operating in and around mortgage market have come a long way in a short space of time, especially over the course of the pandemic, others continue to lag behind from a tech perspective.
In terms of the recruitment conundrum, this remains an ongoing concern across more than just financial services. Although it’s also fair to say that some firms are doing far more than others to overcome a host of recruitment related obstacles.
There’s no denying that this is a tough trifecta to crack. Innovation and technology have worked hand in hand across the surveying sector in recent times.
AVMs and desktop valuations – in conjunction with a variety of online tools, systems and solutions – kept the wheels of the housing and mortgage markets turning during the height of the pandemic.
In fairness, the requirement for remote valuations was evident way beyond the coronavirus as improvements were being demanded to improve offer times without compromising quality, accuracy or integrity but that’s by the by.
The art of collating as much information around a property to enable borrowers to make a far more informed decision remains fundamental in the ongoing evolution of the mortgage journey. In a bid to expediate this process, last year we rolled out PropertyFact, an online offering which allows valuers to complete a comprehensive desktop-based assessment of properties.
As a business, we are constantly striving to deliver our services in faster, more efficient and increasingly accurate ways. And, alongside technology, people will always play a crucial part in this. This was evident in the recent creation of a new role within the business.
The position of a Residential Property Assessor (RPAs) was developed to increase business capacity, service growing client demand and attract new talent into the surveying sector. All issues previously mentioned which the sector has been accused of not being committed to solving.
All of our RPAs have successfully navigated their way through our training academy following an extensive programme on property inspection, building pathology and defect identification.
They are provided with a full surveyor equipment pack and access to an industry-leading bespoke software solution.
This allows them to produce in-depth process driven site notes, intelligent dynamic questions, unlimited high definition photos and videos, a full audit log and dynamic case triage ensuring the risk profile of the property and instruction as appropriate.
Such a role is a perfect example of how the best parts of innovative thinking and technology, when successfully aligned with well-recruited and extensively trained people, can form such a formidable combination.
Matthew Cumber is managing director of Countrywide Surveying Services
