Real Estate and Technology

More than 9 out of 10 home buyers use the Internet as a search tool. The Internet has helped transform the real estate industry. It is one more way to bring value to home buyers, sellers and investors.

The use of mobile applications is experiencing explosive growth. In 3 or 4 years from now, more people will access the Internet with their mobile devices than with a computer. Counter intuitively, phone response will become even more important as potential clients shift more to mobile devices. 70 % of consumers who got voicemail hung up without leaving a message.

There are several strategies for reaching and communicating with consumers more effectively by building on already popular social media channels. Most real estate professionals use social networking sites, up from 35 % in 2009 and social network users are growing at an annual rate of 20 %.

Real estate agents are engaging consumers online via social media sites like Facebook and Twitter. In this culture of instant gratification, we need to not only meet the consumers where they are, but also figure out what they’re looking for, how they want to receive the information and then provide the content in a concise and visually appealing format.

With so many social media options available, real estate professionals can sometimes feel overwhelmed or think they must engage consumers across all available channels. This is however not necessary. If we engage and inform the consumers through any of the main social media options, they will respond. ”Content is king” and we must provide useful and timely content in order to get consumers to engage and become repeat visitors to our social media sites and websites.

More than anything, real estate professionals are using new technologies and social media as just several of many tools to enhance their ability to connect with clients, because nothing replaces face-to-face interaction. However, we must not overlook the fact that although buyers believe technology skills are very important in selecting a real estate agent, more than four out of five home buyers believe that characteristics such as honesty, integrity, knowledge of the purchase process, responsiveness, knowledge of the real estate market, communications, and negotiation skills were still the deciding factors in selecting a real estate professional.