Mastering Technology: How to Be More Effective in Real Estate

The real estate industry is historically behind when it comes to technology. Why is that?

In an intriguing post called “You Can Lead an Agent to Technology, but You Can’t Make Them Type,” Elizabeth Weintraub argues that an agent shoots herself in the foot if she ignores the web and what it offers.

Perhaps this has something to do with the demographics. NAR says average agent is a 57 year old female.

Then you have posts by Kelly Roark over at Future of Real Estate Marketing. She writes about Agent 2.0. She quotes her colleague Pierre Calzadilla, who’s trained agents for years on how to integrate technology into daily business, recently profiled what Agent 2.0 looks like:

  • Not “tech savvy,” but “technologically empowered”
  • Highly proficient in marketing, workflow and time management
  • Aware of and open to new innovations, and how they can fit into one’s business
  • In tune with consumer trends and changes in buyer/seller behavior (e.g., Gen X/Y)
  • Appreciation for “old school” techniques but with an understanding of the value in adapting these techniques to new mediums

Further on in her posts she does an excellent job pointing out the key to successfully using technology: adapt the best offline techniques to use online.

That’s good advice. So exploit these traditional techniques.

And the thing to remember is this: if a piece of technology–whether a blog, Facebook or Twitter– doesn’t some how save you time, save you money or make you money, get rid of it.

Furthermore, always make sure you are in control. You are the master and technology is the slave. You make the plan, then you work it.

Regardless if real estate is behind when it comes to technology…it is never to late to start. And it is not as intimidating as you might think. I promise.

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Click Here to Leave a Comment Below 5 comments
Steven Groves

Gary,

I agree, Kelly’s comments are right on. But to consider your comment, how will the industry fair if it is left up to 57 year old females real estate professionals?

The comment about saving time, or money or ditching it is an example of how we got into this mess I thing though. The average real estate agent does not market themselves and then complain that no leads have come in – all too often the marketing effect of the Internet is left to chance and not taken to task – there are soft measures in social media (which includes blogging, facebook, social networking and the like) that simply cannot be equated in hard ROI terms as you suggest.

You can read more about the Agent2.0™ model that was in development before Kelly coined it at http://www.StevenGroves.com

Thx, Steve

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Gary Elwood

Steve,
I agree with what you said: “there are soft measures in social media that simply cannot be equated in hard ROI terms.” I don’t think I was being very clear.

When I said “somehow new technology has to make you money, etc.,” I meant “somehow” to include “soft measures.” I guess not a very clear way of saying there better be a benefit, even if it is intangible or long term.

Anyone else disagree?

Gary

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Kelly

Further on the “soft measures” topic, agents need to be willing to make the investment of time and learning to figure out how these technologies best fit their business models. So many agents are going after the “broad, generalized” market with these tools. They try a few things, get so-so results and call the tools so-so.

I am sensing we are in the midst of a huge movement toward Niche marketing in the real estate industry, especially in the ONLINE world. When agents choose to use blogs, websites, and other online strategies, they will now also be choosing niches in which to specialize.

The way I see it, this will be the way for them to make money, save time AND effort. Specialization, once a niche is mastered, can be an enormous time saver, as well as enormously profitable.

Cheers,
Kelly

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Gary Elwood

Kelly, very nice analysis on the market. Do you think the niche drive will be on the agents who are on the fringes, who don’t have the bulk of the market? Historically, the big players dominated in a cool market, those wanting to stay in the game having to corner a small territory, and owning that niche. You seeing anything different with this market that is impacting the big players?

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