Technology In Real Estate

or, how todd gets mentioned in the ann arbor news

For those area readers that woke up on Sunday to read their Ann Arbor News, there was a nifty article, beginning on the front page, about how technology is changing the real estate industry.  For your edification, here is the article.

When I was interviewed for this article, I was told it would focus on a new business model that another broker is revealing to the Washtenaw County market.  What strikes me is that the items highlighted as “new” are things that Real Estate One has done for quite some time; we’ve just not been savvy enough to garner ink and paper coverage for what we’ve quietly been doing for some time.  In fact, here’s a RISMedia press release highlighting an internet lead qualification system.

One of the questions asked in the interview had to do with some agents’ concern that technology would push them out of the real estate industry.  Frankly, I wish they had printed my response instead of that other guy. 

No.  Technology in real estate is a tool, just like a pencil, calculator or even a copier.  The difference is that the technology available to real estate agents now streamlines the current systems or modes of operation that an individual agent currently implements.  So, to the ones complaining that technology is pushing them out, I would say that it is only accelerating their departure due to a lack of business systemization.

 Finally, I hope the word gets out to consumers and agents alike:  the role of real estate agent is changing!  We are no longer the gatekeepers of information.  However, our value added proposition that we seem to be terrible at expounding upon is that, with our experience, we should now see ourselves at data filters and point our clients to the “good” data that exists on this fancy intarweb thing.  We simply need to pull our heads out of….the clouds, and think about what we as agents add to the equation.

6 Responses to Technology In Real Estate

  1. I agree, RE/MAX has been doing this for some time. Never mind we are the biggest franchise for searches, right behind homegain and realtor.com. I was glad to see you mentioned with blogging.

  2. Very good article.. the internet has become a wonderful tool for agents as well as clients.. I love that I can send information to my clients whether they are local or in another state. Staying in touch is so easy via e-mail..

  3. We certainly are not the gatekeepers of home information anymore. Our value propositions must be built upon solid foundations of trust, service, and knowledge.

    One of the ways the professional Realtor offers value is through our knowledge of areas and market trends, appreciation rates and potential, property tax rates, home trends and legislation and other factors that may affect property values in an area.

    Technology has definately become a powerful tool in the industry for those who utilize it, as you do.

  4. Great response! Yes, agents who embrace technology will succeed, and the ones who don’t better watch out. The rise of Internet marketing and web based home search tools has brought many changes. Read the very powerful Swanepoel Trends Report that just came out this month. Valuable information to live by about technology and real estate.

  5. It seems like the real estate industry has done a good job keeping up on technology. Consumer marketing models from as recently as five years ago are now mildly to moderately obsolete. New marketing strategies are being implemented all the time. I guess it’s time to incorporate the internet in our business models just as consumers have in their consuming.

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Todd Waller Real Estate
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