How is technology affecting real estate?

Real Estate

Cloud Storage

 

Cloud storage has allowed communication and collaboration to be instant and quick.  Information can be shared quickly and there can be greater connection between real state agent and buyer.  Information is no longer limited to in person conversation and phone calls.  Instead, information can be shared and conversations can be had on the go.  Cloud storage allows documents and information to be shared instantly through various applications, allowing the information to be looked at on phones, tablets, or computers.  There is no need for information lapses, and paperwork and information can be located at home for reference as often as needed.

 

Finding Homes Online

 

Many people are starting to house hunt online.  As new homes are posted, there can be nearly instant feedback from those looking to buy.   Home listings now can have many photos and be full of information about the home.  Various websites and applications allow those looking to buy a home to keep track of homes the moment they are posted.  Cost and any other changes can be instantly adjusted on online listings, keeping information more accurate than is possible with paper advertisements. 

 

Many of those looking to buy simply head to a search engine in order to locate homes in the area.  This modern change has made it important for real estate agents to focus on making listings easily accessible and quick to locate on searches.  A study performed by the National Association of Realtors explained that 92% of homebuyers are now starting off their home search on the Internet.  This is a major change in the industry and has altered advertising.

 

Social Media

 

Social media has made communication efficient.  Real estate agents are now utilizing social media as a way to connect with homebuyers and to provide information to those looking to find a real estate agent.  Social media has also become one of the most important ways to gain new clients.  Keeping social media pages updated and constantly checking messages is an important way to keep the company’s exposure high. Regular websites are still important, but are less likely to be utilized for inquiry related communication.  A quick message on social media generally yields quicker response.  Real estate agents need to make sure they have a great web presence, otherwise they can end up left behind.

 

3D Virtual Tours

 

No longer does the online real estate hunt need to be a misconstrued understanding of the home due to potential buyers trying to piece together the home through photographs.  With 3D virtual tours, there are no surprises for the potential buyer the first time they step into the home.  This allows potential buyers to have a stronger sense of what a home is like and whether or not it is what is desired right from the start.  Many homebuyers end up having a strong sense of their desired home through 3D tours before even consulting a real estate agent.  This has caused a major change for the role of real estate agents in the home buying experience.