Real Estate and Technology

There are some who continue to maintain the old ways of real estate brokerage, but the future of a successful business depends on one’s ability to grasp the usefulness of new technology.

New technologies have improved the way business is done in the real estate industry, for both consumers and agents. Technology provides us with access to information including listings, pricing neighbourhood demographics and even mortgage rates. The increased amount of information available has led to well informed consumers. With this knowledge comes increased demand for specialized and enhanced services from REALTORS®.

Gaps that previously existed in the industry’s technology have now been closed through the ways REALTORS® do business.

Arguably the greatest tools invented recently have been smart phones and tablets. They helping agents who are constantly on the road drive peak sales.  Having a broker who is in his eighties and who has been in this business for over fifty years helps me reflect on the difference and change in real estate and the evolution of new technology. He has told me stories of how “back in the day” he would travel for business and rush back to get off a train to go meet a client for a signature on an offer.  There was no email, fax machines or other technology that compared to today.

Web search is another great tool. Now the average person is searching for their own real estate before calling an agent. The average consumer is able to access more listings and with more targeted searches on their desired areas and amenities.

Most agents have access to these new technologies, but learning to use them all regularly can be somewhat overwhelming.  Once figured out though, it helps deliver the information customers need, when they need it, quicker than ever before.  Technology is making deals happen more smoothly, making customers lives easier and driving more business in the form of referrals from past clients.

No matter how much technology improves however, real estate will always be a “people” game and the best tool to possess is still the personal touch.

Anna Vozza, YPN Chair and OREA YPN Guest Blogger

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Real Estate and Technology