When it comes to technology, we live in a very exciting time. Our ability to capture our world and share it right from our cell phones has changed the way we interact with one another forever.
In real estate, advancements in tech have made for some exciting new ways of doing business. Here are just a couple of examples of how technology is shaping how we buy and sell homes.
1. Drones. Drone technology and real estate are a match made in heaven. The "Bird's eye" view is used to see an entire piece of property in one image. Inspectors use drones to analyze roofs, chimneys, and other hard to reach areas. They provide a smooth and stable image for promotional videos, and it's just fun and looks cool!
2. Mobile capture/edit/share. A few years ago, in order to create a good piece of content one would have to first record a video, then transfer it to a computer, edit the video, and then upload it to whatever the preferred platform was at the time. Now, a tech savvy realtor can create and edit an entire walkthrough, upload it online and share it before even leaving the home. My clients often use FaceTime to share walkthroughs of a property with family members who couldn't make it to see the home.
3. E-Signatures. My personal favorite new tech is the digital signature. I love it so much that I even bought stock in my preferred
e-sig service, Docusign. My clients love it, too. I just upload the contract to Docusign, indicate which areas to signed and by whom, and then send it via email to the appropriate parties. On the other end my clients open the email, create a digital signature, and when they click on the highlighted areas on the document, the signature drops right in! the best part is - it can all be done on mobile, which is perfect for my busy clients.
4. Digital Lockbox. The digital lockbox is a nifty little invention. It's placed somewhere on the outside of the property with the keys in it, and can only be opened using a fob or mobile app. Only licensed realtors are given the access codes required to use the app. This makes it safer than a standard lockbox, where anyone who happens upon the combination could gain access to the home. The other major advantage of the digital lockbox is that it keeps a record of everyone that opened it, with a date and time stamp. In certain situations, it may be crucial to know the identity of the last person who entered the house.
5. Facebook Ads. Before FB ads, only companies with huge marketing budgets could create ad campaigns to target millions of potential customers at the same time. But not anymore! With FB ads anyone can choose a target audience, create a compelling message, and have the ad shown to that audience for as little as $1 (or even less) per day. For example, I might create a video walkthrough for a new listing, upload the video to facebook, and use FB ad targeting to put it in front of every would-be buyer in the NY metro area, all for less than $50. Recently, FB ads have come under some serous scrutiny.
Those are just a few example of how modern technology is reshaping the real estate industry. Look out for plenty more breakthroughs if Amazon jumps in and buys Redfin.
Your "brother-in-law's cousin that's a realtor part-time and will list our house for 1% commission" might not use all this tech, but I promise you that I do, and it 100% makes a difference in my client's home buying/selling experience.
At Realty 33, We tap into 25+ years of experience and market know-how to help our clients make streetwise real estate decisions.