Blog

March 13, 2018

New technologies changing the real estate market

Technology is changing the real estate, there is no doubt about it. Every day we are introduced to new tech that will make our jobs and lives easier. Digitisation and automation are becoming things that are essential for business survival, and you will at least be using one form of tech every 5 minutes that without it, your life would be chaos.

Most industries have incorporated technological changes into the core of their business, and real estate is certainly not an exception.

Why?

Well, as consumers we have become tech-savvy, we are so well-informed that many of us (as consumers) believe we don’t even need a sales person to answer our questions, and as consumers, we know what we want because we have so much information at our fingertips. This goes the same for almost every home buyer you meet. The world is extremely different to what it was ten years ago, and as real estate agents, we need to keep in front of the tech, so we don’t lose our position in the market altogether.

The impact of the internet

The real estate tech sector is being shaped by changes in consumer behaviour, and the internet has virtually everything to do with that. The Internet has reshaped how real estate is delivered to the consumer. There is technology for virtually any part of your business you can imagine, and the most tech-savvy agents will be the ones to be in front over the next few years. If you are slow to adopt and adapt these new technologies, you will completely miss the next generation of younger buyers.

Mobile tech is exactly the same. You absolutely need to adapt your online business to suit the mobile phone consumer. Apps, and crossover sites that allow you to market to a mobile consumer are what will make or break you as an agent. Don’t miss the bus. You can work anywhere in the world with a mobile phone, and so can anyone else; including your competition.

Technology will remain ever- evolving, as will consumer expectations, and the arrival of new tools that help to do your job, or even do your job for you. Automation is very close to taking over many industries, and yours could be next.