Technology Essential to Real Estate Companies' Survival
Real estate is the largest commodity in the world, with an estimated $217 trillion valuation, yet the industry as a whole, has been slow to adopt technology. Many real estate companies of all sizes still cling to old, inefficient ways that only harm their clients and the industry as a whole.
I’ve often said that real estate agencies that don’t utilize technology are underserving their consumers so much that it should become an ethics violation. The old school method of writing contracts back at the office, sharing via fax and moving paper from place to place can extend the process by hours or even days. Those kind of delays create very real possibility of the buyer losing out on their dream home. Unacceptable. Your clients deserve every possible competitive advantage or you don’t deserve their business.
Old-school brokers might scoff and say that new technology is just a way to distract agents with the latest “shiny object”. Truthfully, some of the latest innovations may turn out to be a flash in the pan. But if a brokerage is going to thrive, it must offer a core set of tools and technology to do the heavy lifting in real estate in order to provide the best service. Centering the adoption of new tech around the correct growth strategies will allow your business to grow. The latest technology isn’t about just attracting new agents, it’s about offering the essential tools that enable an agent or a team to properly service hundreds of clients each year.
Old-school brokers might scoff and say that new technology is just a way to distract agents with the latest “shiny object
As Georgia’s largest real estate broker, Better Homes and Gardens Real Estate Metro Brokers has the highest commitment to first-in-class service. Naturally, that has led us to become a huge proponent of using the right tech for the right job. One of our many successes has been our implementation of Dotloop, an end-to-end transaction management system that allows us to streamline transactions while providing real time visibility in a secure, mobile environment. As an early adopter, not only were we able to stop chasing paperwork, our agents and clients love the convenience of being about to handle contracts, amendments and more, all from their mobile phone.
Another one of our technology successes has been our intranet, MetroNet. Powered by Konverse, our customized communication system has streamlined communication and training across our diverse organization. With more than 2400 Realtors in the field, working from their car, in one of our 26 regional offices, at showings, basically anywhere but behind a desk, we needed a robust, flexible intranet to facilitate communications. Features like threaded conversations and private messaging allow BHGRE Metro Brokers agents and staff to work cross departmentally, individually. On-boarding and continuing education can be handled with ease, thanks to MetroNet’s training rooms and live event management. Run into a problem? The universal smart search makes it easy to discover if there’s already a shared solution. If not, just send a quick note for Tech and Broker Support. Even better, its available to our agents 24/7 through the mobile app.
Real estate is, at its core, about relationships, but technology is an essential tool that must be considered as important as a yard sign and a MLS listing if a real estate company is to survive in today’s market. To do otherwise is to fail your clients and your agents.