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How Technology Is Affecting The World of Real Estate

How Technology Is Affecting The World of Real Estate

Some may believe that the pandemic is fully responsible for pushing the world of real estate more towards the physical realm but nothing could be further from the truth. Virtual house tours and home listing websites have become more and more popular in recent years. Now that the pandemic has arrived, these types of practices are here to stay and there are sure more to come.

As more and more clients make their way to companies like OneLaunch, their expectations will continue to increase. Today’s consumer is savvier than ever when it comes to enhancing their desktop browser and they want real estate companies that are matching their efforts. Fortunately, there are a number of different realtors who are finding ways to navigate the current landscape. Let’s take a closer look at the changes that are being made.

Addressing Data Security Concerns

Whenever new technologies are implemented, data security concerns are paramount for both sides. No realtor wants to risk exposing their client’s information to the rest of the world and no client wants to work with a realtor who is not taking these concerns into account. Experts like Xueyan Hua of the Zhongtian Myhome Group recommend taking the time to work with the proper professionals to implement the smoothest rollout possible.

For example, Hua says that a chief technological officer and a chief data officer’s input are a must here. They will help the real estate company to extract any legacy datasets that are not truly compatible with the technology of today. If the migration process is not handled properly, this puts added pressure on the realtor that is less than ideal.

Decreased Face to Face Interactions

Depending on which side of the proverbial fence the person is on, this may seem like a drawback or it may seem like a major plus. For the realtor side, this is something that has to be navigated ahead of time. Going online can heighten these concerns for both sides but they are easy enough to handle. There are certain questions that need to be asked first, however.

For starters, in this new world of real estate, is the realtor doing everything that they can to add a more human touch to their technology-based interactions? Are all of the professionals properly educated on how to handle the shift before it starts to take place? If the answer to both of these questions is yes, the realtor has already set themselves up for future success.

Solving Real-World Problems

In other words, a realtor cannot be implementing new technology for the mere sake of it. Kristin Geenty of the Geenty Group recommends that realtors take the time to make sure that their new innovations are actually solving problems first. This means that they will need to have an open and transparent relationship with their employees. Does the new tech solve real problems for the team? Have all other options been researched?

If not, this is a sign that the realtor in question needs to choose a more intuitive method. These options should allow for easy integration of workflow and data. Once an option has been decided upon, making sure that employees are fully trained is the next step that needs to be taken. Continued support must also be offered and in many cases, the top realtors will have a designed support staffer on hand to handle future concerns.

While there are issues for realtors to consider when they are in the midst of embracing new technologies, they are easier to sidestep than expected. Realtors must shed their reluctance to tech in this new world of real estate so that they can find out more about how these technologies can simplify their day-to-day. Otherwise, they risk being left behind. After all, new real estate innovations are happening on a constant basis.

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