The technology revolution is fully underway in the real estate sector, helping agents unlock a lot of nascent potential if they know how to proceed. However, it is therefore incumbent upon those real estate professionals to do all the requisite research and determine what types of emerging industry tech will work best for them, as they try to improve their standings in their communities.
For instance, some real estate professionals have been able to free up a lot of time by using technology that automates various aspects of their jobs, according to Inman. This can include social media postings, email newsletter blasts, data collation and the like, but experts say it's what agents do with the extra hours they've given themselves that really matters.
"What fascinates me personally the most about technology is that we've got these tech tools that automate things for our lives, but at the same time it still comes back to the relationships and relationship-building and keeping in contact with the other humans," Kathy Fowler, an Oklahoma City broker associate with Coldwell Banker Select, told Inman.
Today, the majority of agents consider themselves at least somewhat tech-savvy, but that can include simple tech like social media or mobile devices. Agents on the cutting edge may be utilizing more advanced efforts, such as automated digital marketing and lead generation, and some are even beginning to gain familiarity with artificial intelligence.
With that in mind, tech experts caution that agents need to be able to choose carefully when it comes to picking which types of technology will be the focus of their investment dollars. Any wrong step can end up tying agents to ultimately ineffective technology, thanks to contractual obligations and other legal requirements. Consequently, a little research into the practical applications of any tech will go a long way toward providing a strong return on investment.
Everyone up to speed
As real estate pros adopt new tech options, it's also vital that they make sure their colleagues at the agency can follow suit, according to Boomtown ROI. When new technology becomes available, training to ensure everyone involved can use it effectively, to boost their efficiency and engagement, is critical. Often, this is a disconnect for agencies' decision-makers, because they will pour a lot of money into tech investments themselves but not devote the proper amount of time and consideration to training agents so that everyone is on the same page. That, in turn, may limit the ROI agents or brokers get from these investments, which in turn will limit the value of tech adoption.
With these issues in mind, the more agents and other real estate pros can put into understanding technology both before and after adopting it, the better off they will be when it comes to utilizing that tech to its fullest potential. That, in turn, may make them even more effective at driving real estate sales activity at a time when the market is still heating up.
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