How Technology is Changing the Real Estate Industry

Technology has completely changed how real estate transactions are handled by an agent, how agents list and research properties, and how buyers and sellers complete property transactions. It has completely transformed the industry. With mobile technology and cloud computing, today’s brokers and agents are more connected than ever before, being able to operate anywhere, and it has made the industry much more competitive.

Transitioning to Mobile Technology

Mobile technology has significantly improved the productivity and customer service of the real estate professional. First came the convenience of getting paged when someone was trying to reach you, then the cell phone provided instant access to calls while on the go.

As phones got smarter, you could access emails and download documents. You no longer had to adapt to running around town and swinging by the office to check your email or pick up a fax.

Realtors must constantly stay in touch with their prospects and clients. With mobile technology, there is no longer the need to wait for the face-to-face meeting. You can preview a property online. You can use Skype for a meeting. You can make calls, and send texts and emails directly from your device. You can schedule appointments without having to pick up the phone or send a text. You can send personal or closing documents from your tablet or phone to provide an update on a closing.

Learn more about the digital tools realtors are using to stay ahead in this fast-changing industry in the article, 5 Ways Technology Is Changing Real Estate.

 

There are many pain points that agents and brokers must overcome. Besides improved communication, technology has helped them provide a great customer experience. The article, 14 ways technology will change the future of real estate, looks at some of the problems and how technology helps overcome them. For example, mobile versions of websites, mobile apps, advanced search features, and online resources help you tailor services specifically for a buyer or seller. Use your smartphone to go online or use iPhone or Android apps to search for better options of properties available on the market, view online listings, and get quick information about the area.

Moving to the Cloud

In addition to mobile technology, companies are making the shift to the cloud and realizing the benefits. With less need for infrastructure, real estate companies can downsize their office space and reimagine how that space is used. They have defined, predictable costs for cloud services that help them cut costs, streamline processes, and better manage their budgets.

Often the company or broker passes their costs on to the agents. As companies cut their costs, the fees are more affordable. The cloud also allows them to stay secure with updated software, get the latest forms via apps, and tap online resources with real-time property information. Backups can be stored in the cloud as well and restored quickly. For small real estate agencies, this is great news because they can be more competitive.

You’ve been working in the cloud for some time and might not realize it. Read this article, Strategic Efficiency: It’s Waiting in the Cloud, to learn more about some of the cloud services you might be using.

Cloud security continues to be a big issue in real estate and other industries. While the cloud has made it easier to obtain an e-signature for a contract or allowed agents to collaborate through shared files, software needs to be regularly updated and cybersecurity measures put in place.

Boost IT has experience working with professional services firms in the real estate industry and understands the IT issues for the industry. We know you need to stay in touch with your clients and your technology needs to be working securely all the time, no matter where you are. We can help you chose better technologies than you are using now, manage cloud storage, provide reliable sync and file sharing, assess your cybersecurity, and provide strategic guidance that will eliminate frustration across your entire organization. Read about how we helped a local, Atlanta based commercial real estate brokerage company with migrating to the cloud in this Real Estate Services Case Study. They have cut their costs, even including our fees, and are now more profitable and more competitive. For more information, contact us at 404-865-1289.