The Silicon Review
In the digital world we live in, real estate technology has rapidly evolved in the last few years. This has resulted in changing the way the real estate industry functions and has changed the very face of the business. It used to be an undeniable fact that the real estate marketplace was one of the slowest when it comes to leveraging new technologies for better outcomes. Every new advancement and technological innovation has been termed a disruption of the conventional real estate business model. The real estate market is generally datadriven. But what prevented it from growing was the fact the industry data was difficult to obtain and came at a cost. The evolution of technology in the real estate industry started only after the introduction of PCs and database management systems. Technological advancement in real estate created an opportunity for speed and efficiency; be it marketing, data organization, or lead generation. Globally there are many companies providing services and solutions to the real estate industry, but FCT stands out from the rest.
FCT was established in 1991 in response to the needs of an evolving real estate market. With the introduction of title insurance, FCT was able to streamline many of the processes used by its customers for the benefit of the consumer – this brought efficiency and cost savings across all facets of the transaction. Since then, FCT has remained at the forefront of transformation within the real estate industry, offering their customers reliable, innovative solutions and minimizing risk. For over 30 years, the company has stayed true to its core values, which inspired the founders when they established FCT and continue to inspire the company today, motivating them to provide an outstanding experience for their customers, partners, and employees.
FCT is dedicated to advancing its culture of inclusivity, which supports and encourages the success of all its employees. FCT offers learning and development opportunities, and coaching connects to help employees grow their careers. The company also provides access to a wide range of resources to help with both their professional and personal growth. For instance, FCT has partnered with the Canadian Centre for Diversity and Inclusion to provide employees with an opportunity to further their learning and since the onset of the pandemic, the company has also expanded its mental health benefits.
FCT’s impact on the Canadian real estate industry
FCT supports its customers and partners during every step of the real estate journey. As the journey changes over time, so does its approach. The movement towards digitization may seem sudden to some, but it’s an area that FCT has been focused on for a long time, and is ecstatic to see all of the ways it’s contributing to the evolution of the Canadian real estate landscape today. While FCT has its core products and solutions that offer as much, if not more value today than when they first launched, the company is also using data and technology to transform the real estate experience. It’s clear that digitization has and will continue to play an integral role in the Canadian real estate market, which is why it’s so important for FCT to continue to prioritize digital innovation – as it always has. Moving forward, FCT is invested in continuing to embrace new technologies that not only help simplify and enhance processes across the real estate life cycle for all stakeholders, but also provide important insights on the Canadian real estate market to strengthen their position as an industry leader.
Defining the opportunities
When the TSR asked Michael LeBlanc, CEO, about the opportunities in the Canadian real estate industry, he stated, “The real estate market can be difficult to navigate at times given changes in consumer behaviours, which have been especially true over these last few years. Our priority is to work closely with them to ensure they have the guidance - and the data - they need to make the most informed decisions”. The increased role of technology within the real estate industry has also impacted customer expectations. They expect solutions that can be quickly and easily implemented, meaning FCT needs to continue being agile and adaptable to ensure they are there to provide support every step of the way.
As FCT moves forward, it will continue to evolve and support its customers, employees, and partners while prioritizing two key areas of opportunity in the industry: data and digital innovation.
FCT expects that the advanced use of data will transform the real estate industry throughout the year. A first step is better access to real estate data to enable real estate professionals to better understand the market, which FCT currently provides. The company also expects to see data play a larger role in predicting mortgage and consumer purchasing trends, and assessing risk. Through the use of analytics, real estate professionals will be able to better assess risk, determine loan eligibility and customize solutions for their customers.
Technology-enabled digital solutions will only get smarter and more secure in the future, which is why it’s so important for FCT to continue focusing on digital innovation to stay ahead of trends in an industry undergoing monumental transformation. In order to do this in the current environment, FCT knows that it must put technology at the forefront of all that it does. The company has already seen the impacts extend beyond virtual signings and remote closings to strengthen the customer experience in many ways.
FCT is invested in providing all stakeholders across the real estate life cycle with the data, insights, resources, and confidence needed to navigate the current environment and adapt to the challenges that future environments may present. FCT is looking forward to another exciting year of innovation, resilience and collaboration.
Meet the leader behind the success of FCT
Michael LeBlanc is the CEO of FCT and was recently appointed as the President of the International Division for FCT’s parent company, First American Financial Corporation. He is the visionary behind FCT, and continues to keep the company at the forefront of change in the real estate industry.