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6 Ways Technology is Transforming the Real Estate Market

The real estate industry is changing and it’s changing in a fast-paced. The biggest reason it’s been changing so much in the past decade is because of technology. Technology has changed many things in our lives from how we shop, how we get entertained, how we watch movies, and how we listen to music. Technology has changed many things in a positive way and in a negative way. The same thing goes for the real estate industry. If you’re not up-to-date with technology you will leave behind. Today, the majority of people have smartphones, tablets, and or laptops, 10 years ago this was something we would see people in movies.

1. Technology Provides Comfort

Because of technology tenants could find a new apartment with ease, tenants could pay rent while sitting in the comfort of their couch. Technology has also changed the way potential homeowners get approved for a mortgage; they are able to see the results instantly. Computers will keep changing over the years. The ongoing drive towards mobile smart technology has intensely affected a lot of professionals working in real estate. The first thing real estate firms do is change the company website to mobile versions to make it easier for online customers to see and experience. Other real estate companies are taking it an extra step further and hiring developers to create mobile applications for iPhone and Android users.

2. Face-to-Face Connection

The downside of the changes technology has created in the real estate business is the face-to-face connection. Face-to-face is considered professional way customers and business owners meet. Therefore, with technology growing so fast face-to-face meeting has diminished. Today, computers make it possible for clients to have meetings with another person in another state and even in another country. Technology is not a bad thing; it’s just changing how people make business and it will keep changing.

3. Real Estate Companies Benefit From SEO

Many people all across the United States and the Globe have drastically benefitted from technology in real estate. With the growing sales of smartphones, people want information and they want it fast. Companies that make changes are meet requirements from Google will benefit from sales the most.

By making changes to their websites like transferring websites to mobile-friendly, keep it up-to-date, writing daily blogs, creating videos these sites will be the first to show in the Google results. These websites will have more traffic coming in and will have a bigger chance of making a sale. With today’s technology, real estate professionals have everything they need to reach a broader audience at their fingertips. A lot of websites are offering auto-fill forms that will usually take hours to fill out.

4. Collaborating With Others in the Industry

Collaborating with other agents in the real estate market is huge for many. How would it work?

  • The potential buyer will go to the website
  • The buyer will fill out the online forms
  • The real estate agent will get that information and suggest a broker, inspector, contractor, and other services that the buyer might need

With technology like this, all party’s will benefit and will also increase the chances of closing the deal sooner and more efficiently.

5. Some Real Estate Companies Consider Technology a Taboo

For some the growth of computers only means disaster. Some believe that communicating will potential customers is not healthy and unprofessional. They believe that the idea of working with other people is to meet face-to-face like the good ol’ times.

6. The Benefits

What do you think? Do you believe in meeting customers face-to-face or going with the technology way? They both have pros and cons it just depends on the type of relationship you have with your clients. There isn’t a right or bad way but with computers, you will definitely benefit more.