How Technology Is Changing the Role of the Real Estate Agent
Technology has now become an undeniable reality of our world. Over the years we have witnessed a dramatic change in the way business perform their functions. Almost all the sectors including, hospitality, retail, manufacturing, healthcare and so much more got highly impacted by the technology, both in negative and positive ways. So when technology has hit almost all the sectors in the world, the change is almost inevitable for the real estate sector as well.
However, one thing worth noticing is that the impact that the technology has on real estate is as unique as the sector itself. Unlike other sectors where the introduction of technology has costs people their jobs, in real estate, it only changes the way professional work. No matter how much advanced the real estate sector may become. People will never trust an algorithm over an experienced human being for purchase decisions. In this article let have a look at various ways how technology has impacted the role of real estate agents.
In old times, you may hide the facts behind some paywalls or any subscription models. However, with the advent of the age of technology, everything is crystal clear and transparent. Moreover, with the hundreds and thousands of sites ready to provide information regarding the pricing, availability and various other aspects of the property, there is nothing you can hide.
Expedition of deals:
With the sites like ten-X now the professionals do not have to wait for months for a transaction to be completed. The technology is not only expediting the dealing process but also increasing the proficiency of the professional in real estate sector.
One of the biggest advantages of technology intervention is the ease it brings to the marketing of the product. Moreover, even the company as well. Now you do not have to pay a fee for paper and media advertising, as you can promptly do so by creating a website of your own. There are also many another website in the market which will send out your marketing message loud and clear in seconds.
Availability of past data:
For making any financial decision, the most important thing which helps out in the past data and the trends. The same is true for real estate market as well. In the past, only very few companies with a big name have access to the past data. Also, the analysis of the past trends is somewhat a hectic task. However here is our friend technology. It is helping us out by providing all the past data and giving us a trends analysis. All this will never be possible if real estate and technology never met.
Furthermore, if I may have the liberty to say, then time is not far when you do not even have to go to the place to visit the property. With the help of virtual reality technology, we will be able to do so. However, this would be possible shortly.
Efficiency to lease out:
Before technological breakout, the people associated with the leasing of the properties have to ensure the availability and pricing of a particular property by obtaining the hard copies. However, now all they need is the right website, and all the data will be at their fingertips. This not only makes their job more competent but also efficient. Whatever and whenever information you need, you will have the updated one in no time.
On the whole, I just want to say that the impact that the technology on the real estate is humongous. It has changed the day to day routine of the professional in a profound manner. Now more and more people are adopting the new trend to perform their jobs more efficiently and make more money. It is a hard fact that technology can never replace the people involved in real estate. However, it does affect the promptness of the deals and their information transferring abilities.
Author Bio: Jessica Watson has been writing for websites and blogs for three years now. She had a fair share of writing in various niches but her main focus on business, finance, and social media, and technology. Currently, she is working with Aurion UAE who offers Limited liability company Dubai. They are providing their services across all states of UAE.
Serial Entrepreneur - International Business Planning Consultant - Speaker - Trainer - Author - Blogger - Network Marketing professional
- Fellow, Inspire Africa Train-the-Trainer sponsored by US Consulate Lagos
- Fellow, Tony Elumelu Foundation Entrepreneurship Programme
- Top 50 Innovative Entrepreneurs, BET5 by Diamond Bank
He is an alumnus of Enterprise Development Centre (EDC) of the Lagos Business School (LBS), Pan-Atlantic University (PAU). Through his training, mentoring, speaking and coaching programmes, he has empowered many young people over the years to start and grow their own business, build wealth, create multiple streams of income and achieve financial independence.
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