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The Only Constant is Change
What is happening in the world of Real Estate? There is no ‘one size fits all’ answer except for one thing –technology. Technology is a massive factor in all facets of real estate, from sales to mortgage to escrow and title and more. You simply cannot be successful in real estate without making effective use of current technology. The agent who refuses to use technology is only doing themselves a disservice and limiting their own options.
I have been reading ‘Real Estate Trends’ by Stefan Swanepoel and it is a thought provoking report with many insights but the one that stands out above all others is this; technology is the driving force behind success in real estate.
It is amazing to witness the technology advances that have occurred in the last decade and the pace of progress isn’t slowing down. Admittedly, trying to keep up can be frustrating. Just when a firm or agent thinks they have a handle on current technology something new comes along and changes the game.
Back in 1988 when I started as an agent the computer connection to the MLS was a BIG THING! It was a ‘dummy’ terminal and used dot matrix paper. Back then, new technology meant that agents had pagers and were learning how to use a fax machine. One or two agents in a BIG office of 50 might have had a cell phone which was the size of a one pound brick of cheese. Then car phones came along and I got in on the action in 1989, and I remember thinking ‘I had arrived’! Little did I know.
Early on in the 90’s the MLS made it possible to buy a floppy disc to install a program on a home computer so agents could work from home. This changed the real estate world almost overnight. Fast forward more than 20 years and now my personal cell phone can do more today than the latest home computers could in the 90’s.
Today agents sell properties without ever having to leave their home offices by using virtual tours, sending documents via email and conversing with clients and vendors via Zoom. All those futuristic tools we saw on Star Trek are now in the palm of our hand, or on our laps in front of the TV or on full display in our home offices.
The lesson to be learned for everyone (including myself) is that we need to be open to change – it has always been the straightest path to success.