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Nine Reasons to Adopt Real Estate Technology

Richard Montgomery on

Dear Monty: At some point in the next few years, we will sell our home. We have been here 25 years and raised our kids here. My wife and I have resisted modern technology. We get along fine with paper road maps. I have an old flip phone, but my work is outdoors, and my hobbies are hunting, fishing and collecting rocks. My family, friends and co-workers poke fun at me. My brother, a few years younger, warned me that if I don't get with the program, I could be at a disadvantage when we sell our home, relocate and buy again. Is he right?

Monty's Answer: Whether he is correct or not, only you can decide. Many people today have an old flip phone, or no phone at all, and use road maps. Road map sales are increasing, and many people believe they are better than digital maps. Some people may envy you. Here are nine reasons why many people who have embraced the same technology you avoid did so.

NINE REASONS TO ADOPT

Telephones today are called smartphones. A smartphone and some companion device, such as a desktop or laptop computer, are connected to the internet and will put information into your hands in seconds, not minutes, hours or days. Companies like Zillow, Airbnb and Google Maps provide the data on a web platform. There are also applications you can download to your computer or smartphone. There are numerous rock identifiers. You can find about five million apps built by developers that make your life easier on Android and iOS.

With these tools, you can:

No. 1: Make faster, better-informed decisions. Selling or buying a home is one of the last remaining industries lagging far behind in adopting technology.

 

No. 2: The information transferred in seconds improves efficiency. Need a data sheet on a home? Click a button, and it appears. Inspect a house on video in seconds to determine if you want to see it.

No. 3: Better-quality information directly from independent, specialized sources has added vital details to the marketplace.

No. 4: Insights that have never before been available are here. When you are preparing to put your home on the market, comparable home sales are at your fingertips. Learn if it is a buyer's market, a balanced market or a seller's market.

No. 5: Information is constantly getting cheaper, and free-market competition drives savings in operating costs to the consumer.

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