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Technology is changing the face of real estate

In today's competitive business environment the challenges associated to keeping up with new and innovative technologies are significant. All too often companies become complacent, content with achieving what they perceive to be a reasonable amount of growth through superseded traditional means.

 

Unfortunately, the reality is that significant opportunity is being lost due to a failure to adopt new technologies.

 

In many cases, business success is directly linear to its ability to adapt and embrace new technologies. This fact is especially true for the Real Estate industry, where a customer's (Vendor) definition of a successful real estate agency is defined not only by its history and status in the community, but also by how modern their marketing practices are.

 

The reality is that 'savvy' real estate agents are not running to keep up with technology; instead they are forging the way forward and are achieving outstanding results in the process. It's estimated that within the next five years, top real estate agents will capture large percentages of real estate transactions simply by embracing new internet technologies.

 

The need to adopt emerging technologies is nothing new to the real estate industry. Real estate agents have, in broad terms, been utilising the web to differentiate themselves to their vendors for many years. Similar to the adoption of the Fax and Mobile phone, the internet has become a key communication tool between agents and their customers.

 

So pervasive is the internet into our everyday lives that many key stakeholders can no longer imagine a life without it.

 

Whether it be your mobile phone which is internet enabled, your work or home PC/Laptop or even a gaming system (PS3/XBOX360 for example) which is web enabled, the fact is that the internet is here to stay and is quickly becoming the number one expectation in the eye of every Vendor marketing a property.

 

While it may be true that almost all of the real estate industry has adopted the internet to some extent, it can be argued that few are truly using it to its full potential. A reality which is astonishing given the fact that the internet represents the only media channel available that has the ability to access a potential audience of well in excess of 700 million people - what a monster opportunity for marketing.

 

Real estate agents, and even private sellers, can achieve a significant edge over their competitors by marketing more effectively and in turn, increasing their potential for significantly increasing profits.

 

Put Simply; More Interest Online = More Competition and a Higher Sale Price For Property


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