Real estate is constantly changing as an industry. However, technology has accelerated this trend even more in recent years. If you are in the industry, then you need to understand these trends to remain a competitive option. That way you can prepare your business to take advantage of the dynamic shifts happening in real estate:
It used to be that you only used the phone to talk with a buyer or seller if you were in your office and they were at home. Today, phones are in everyone’s pocket. And that doesn’t just mean a traditional phone line. From Skype to Facebook, people can connect with their voice with anyone else anywhere on the planet. Understand the power of leveraging the phone and you can beat others to the punch.
Before the internet, buyers had a lot more research to do in person rather than online. It meant they didn’t make decisions as quickly. With the websites of today, real estate buyers and sellers are able to see exactly what the market value of properties should be and that way you can dive deeper into their needs and wants when you are with them.
Long gone are the days of needing to haul around a lot of documents to get signatures, just to fax them later. Today, from your phone or tablet you can get digital signatures. This speeds the process up but also provides a more accurate paper trail for legal and financial purposes. It is a win-win scenario for both sides.
Automated Workflow and Analytics
Being able to look at your data and get key insights from it is essential to competing in your market. However, not with advanced BI systems and visualization technologies, you can take it to the next step. Enjoy advanced reports that let management skip the dirty work and focus on the bigger picture so they can move your company forward.
Real estate is one of the world’s oldest industries. People will always need homes. However, the ways that they discover their homes and interact with agents is changing all the time. Evaluate the impact that technology will have on real estate in order to position yourself to be ready for changes that are coming. That way your firm can enjoy long-term success no matter what technology comes up with next.