How Technology Is Affecting Real Estate
October 31, 2017 Written by DigitalRealtyX
The Internet has changed the way we approach most tasks. With all the real estate sites and tools available today, most home buyers are looking for listings online. A recent study by the National Association of Realtors found that 92% of buyers start their search on the Internet. The Internet tools offer buyers insight into the market in a way unavailable in the past. Listings and market data is literally at our fingertips. Buyers and sellers alike can utilize these sites to start planning their real estate moves.
As a seller, you need to be working with a tech-savvy real estate agent who understands how to market your home online and has a strong Internet presence which can help you sell your home faster and for more money than traditional marketing strategies can do. While it’s tempting to use Aunt Dottie or the nice man that you talk to at Starbucks, but for most people this is one of the largest financial transactions of their lives and should be treated that way.
The Internet has changed the way we find information and the way we market homes for sale. While 20 years ago both a For Sale by Owner and a real estate agent could both use print advertising, now it’s done online. Properly marketing a home on the Internet involves more than simply entering the information in the MLS (Multiple Listing Service) but it must also be offered through syndication to all websites which draw from the MLS feed. As a result, real estate is moving at a much faster rate, and agents must respond.
Real estate websites offer more than just pretty pictures of listing. Tools for estimating mortgage payments, property taxes and insurance are all readily accessible to potential home buyers. Most listings offer links to school data, 3D Virtual Tours, videos of the listings, demographics and crime statistics as well. By the time a buyer talks to an agent, they might have all the information they need to make a decision. This makes the actual process much faster and smoother for all parties.
Proper technology platforms must move at the speed of our devices. Buyers are now able to scan a code off a sign and get all the information they need on a property right on their screen. Agents have to stay ahead of the curve to ensure their clients are getting the most accurate, up-to-date information. Technology allows real estate professionals and their clients to truly partner with each other by offering more information and transparency in the process.