How Real Estate is Changing Technology

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When it comes to “leads,” information, unencumbered access to strangers and real estate professionals alike, muddying of the listing “accuracy” waters and access to home sans REALTOR®, much (too much) is being made about how technology is changing real estate, and almost all of it is utter nonsense.

To paraphrase an excellent quote from Minnesota REALTOR® Danny Dietl: If you believe that a website or an app is going to take over your business, perhaps you should get out of the way. Because if you take a closer look you’ll see that the opposite is happening. The people end of real estate is changing the technology end of the business in almost every way. These startup kids are learning how REALTORS® work, how they communicate with their past, present and future clients, how the integral parts of the buy/sell process flow, how the regulatory aspect of real estate operates and—most importantly—they’re learning how to talk like human beings to other human beings to better address their real estate wants and needs on their level. They are lessening and outright removing friction from elements of the process in terms that REALTOR® and client can understand. Do not underestimate this, folks. Understand it and learn, then integrate.

Just check out this year’s NAR incubator companies as examples:

Asset Avenue and Boostup are redefining the financial aspect of the commercial and residential real estate arena for your clients before the transaction. TermScout is turning data into actionable business intelligence to help business planning. August and Guard Llama are redefining “access” and security for you and your clients during the transaction. NotaryCam is trying to push the archaic closing process into the 21st century. By streamlining your vendors and referral gifting processes, Pro.com and Loop & Tie are removing friction for you and your clients in the pivotal “after the transaction” timeline. All these technology upstarts are doing it with REALTORS® and with their clients, not in spite of them. These guys and gals are solving real problems for many real people, not just the “one time that one person had that one problem.”

Don’t let paranoia and fear drive your business. Coming out to the REALTORS® Conference & Expo? Find tech that will complement your business and your brand and you’ll find that doing what tech can’t will make your business much more sustainable.

6-Time Featured Attendee

Nobu Hata is the National Association of REALTORS®’ Director of Digital Engagement. An industry veteran since 1996, Nobu is a student of marketing, communications trends, social media, and technology in the real estate industry.