Real Estate Insights: Reshaping the skills of future property professionals: the IDEA framework

Ka Shing Cheung

Journal of Property Investment & Finance, 2025, vol. 43, issue 3, 357-362

Abstract: Purpose - The property profession is in the midst of significant change, driven by new technologies, evolving societal needs and the growing emphasis on sustainability. This article explores how property professionals can adapt to these changes using the IDEA framework – integration, digitisation, engagement and adaptability. The goal is to outline the essential skills and strategies that can help professionals stay relevant and effective in a rapidly changing industry. Design/methodology/approach - Informed by discussions at the Pacific Rim Real Estate Society (PRRES) 2025 conference, this article combines academic insights with industry expertise. By examining each pillar of the IDEA framework, the article provides practical examples and case studies of how property professionals can integrate new technologies, digitise their practices, engage with key stakeholders and remain adaptable to the evolving demands of the sector. Findings - The research reveals that the future of property professionals hinges on their ability to integrate diverse areas of knowledge, such as data science, urban planning and environmental considerations, into their work. Technology, particularly AI and geospatial data, is transforming property valuation, but professionals must also address the challenges of bias and transparency. Engagement with stakeholders – from regulators to local communities – is crucial for ensuring ethical practices, while adaptability through continuous learning, internships and real-world experience is key to thriving in this fast-changing field. Practical implications - The findings underscore the need for property professionals to stay ahead of technological advancements and market shifts by embracing ongoing learning and practical experience. Suggestions include incorporating geospatial data into property assessments, developing ethical guidelines for AI and promoting flexible career paths through industry internships and active learning. These strategies will help professionals keep pace with industry change and enhance the profession’s long-term resilience. Originality/value - This article presents a unique approach to preparing property professionals for the future, focusing on the practical application of the IDEA framework. It offers a fresh perspective on integrating technology, ethics and multidisciplinary collaboration into everyday practice. The article contributes valuable insights bridging the gap between academic theory and real-world application, providing thought leadership and actionable guidance for the profession.

Keywords: Property valuation; Property professionals; IDEA framework; Adaptability; Digitisation; Geospatial data; Artificial intelligence; Multidisciplinary integration; Stakeholder engagement; Lifelong learning (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:eme:jpifpp:jpif-01-2025-0010

DOI: 10.1108/JPIF-01-2025-0010

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