Importance of IT in the Real Estate Industry

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Since the dramatic fallout of the major economic US recession around 2007, the real estate ecosystem certainly took some major blows. It’s taken years to slowly unwind the damage done and the post-recession effects still hurt. But, as technology evolved and finances stabilized, the real estate industry got a second wind, largely thanks to the steady integration of information technology.

IT in general is tremendously useful. The world is more and more connected with the growth of internet tech, and with major investments from power players like Google to create wireless access points, we’re only getting more connected. This said, the same is for the real estate industry. There are many reasons why it’s so crucial in any modern real estate platform.

For example, mobile websites are practically mandatory in this day and age. Real estate agencies which make their website accessible via smartphone or tablet get a huge boost in both visibility and use, as allowing consumers to access their information on the go is too convenient to pass up.

Mobile technology also works for agents too. The ability to access client data and sales-in-progress makes things far simpler, and helps speed the process of sales for homes and apartments. The ability to also take files and send them to an office or double check records also becomes invaluable, including the many other potential uses of on-the-go tech.

Of course, some are concerned that all this additional technology has watered down the importance of personal meetings. Face-to-face time is important when an agent is looking to make a home sale, of course, but until the day comes, how much interaction happens between agent and client?

Fortunately, IT doesn’t have to interfere. In fact, one useful aspect of mobile communication is taking advantage of social media. This is another big part of how IT changes the game, because using social media via a Facebook business page or creating ad campaigns for a real estate franchise bridges the impersonal electronic gap. An agency, for example, can document stories about how an agent helped a family find their dream home, moments which help connect with the intended audience.

Additionally, the impact of doing business online is now bigger than ever. In some cases, online agents can work with clients and discuss options via mobile device about potential homes, including important details like price and contract. Again, this has completely sped the process of sales in the real estate ecosystem, and really allows agents to overhaul their business momentum.

As it stands, there’s really no reason to keep IT out of real estate, or companies in general. Connectivity and communication via internet are major parts of modern business, and it’s basically expected from a consumer base at this point. As this tech evolves, so will its impact on real estate, and how this will change the market remains to be seen. Whatever it is though, the best course of action is to adapt and utilize for the future.

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