How New Technologies are Changing the Real Estate Industry

by : Joshua Keen

While most industries have been affected by the development of new technologies, the real estate industry has been turned on its head thanks to the introduction of new technologies.

This was once a very personal business where referrals could make or break an agent's career. A client would be dependent on their agent for information about property values, market trends, and current inventory available in their local market. If a client had a question for his agent, he would have to leave a message at the agent's office and wait around for a reply. Depending on the number of other clients the agent had, the client could be kept waiting for a very long time.

This waiting game could be a very frustrating experience for proactive buyers and sellers who wanted to be in the know when it comes to handling the biggest investment of their lives. Fortunately, new technology has made the real estate industry much more accessible to the average person.

Cellular phones have had a huge impact on the real estate industry. Rather than sitting around playing phone tag with your agent, you can now reach them directly, and leave a message where they will be sure to get it. Communications are sped up and made more effective, meaning that much less time is wasted, and misunderstandings are less likely to occur.

Another benefit of the cell phone is that real estate agents are always in touch with their offices as well as with other agents. This means that they are on top of local market activities such as when a hot new property enters the market. Buyers who want to make an offer on a home can also get their bids on the table as quick as possible. The real estate market is always in flux, and cell phones enable agents and clients to roll better with the punches.

The internet has changed the way buyers, sellers, and realtors do business. Internet search technology is continually improving, making it easier for searchers to find relevant information in a short amount of time.

Buyers can search online MLS databases to view homes from all around the country. Sellers can have their homes featured on their agent's homepage as well as on online databases. This has been an excellent development for clients because they can see examples of what they like, what price ranges are out there, and the availability of homes in their market area.

Some argue that because clients are able to locate properties on the internet, that real estate agents' value will decrease. What is important to keep in mind is the fact that real estate agents provide a much greater service than simply providing a list of available properties on the market. While you may be able to find homes on the internet on your own, not every available property will be on all of the databases. Your agent will have inside info and can pare down the house search for you. They also navigate the many other issues that are involve with buying or selling a home. The internet has not changed the need for good quality agents in the least.

Blogging is a great tool for real estate agents. With such a focus on online technologies, the real estate industry can lose some of the personal interaction that was once such an integral part of the industry. Blogging can change that. By writing a blog for their websites, realtors are able to share their opinions, prompt discussions, and show a bit of their personality. This can be invaluable in showing potential clients why they should hire you. Also, it is of benefit for you personally, as you are able to express yourself and network with other real estate professionals.

While some people believed that the internet was going to spell the end for real estate agents, this has not come to fruition. In fact, the real estate industry is continuing to thrive. For agents who are willing to go with the flow and adjust to the changing technologies, both clients and agents can benefit.