The Impact of Technology on Today’s Realtors

The Impact of Technology on Today’s Realtors

The real estate industry has seen rapid changes in how it does business. Homes for sale have gone from a monthly printout of local properties for sale to consumers having access to thousands of properties locally, statewide and internationally. That is quite a leap! The impact of technology on today’s Realtors has been increasing in the industry over the past decade, and it is continuing in an upward spiral.

This new way of doing business has taken hold all over the country, and South Florida is no exception. It has weathered the storm, literally, and the city of Pembroke Pines is one of its hottest markets because its location is central to several tourist attractions, parks, golf courses, and entertainment sites. Homes for sale in Pembroke Pines are near major airports for easy accessibility. The digital era has positively spurred sales in this family-friendly area which touts positive educational opportunities for its citizens.

As the industry has been revolutionized through the technical advances in how, when and where properties are viewed or negotiated, Realtors have had to adapt. Whether they live in small cities, like Pembroke Pines, or large metropolises, like New York City, the push is the same. Some of the advances that appear online are:

– MLS (Multiple Listing Service)
This service is now available online for all to see. Various apps can be downloaded to facilitate the viewing of properties. Not only do you see the property, but the vital statistics are also given, such as taxes, square footage of the property and lot, the condition of the property, purchase history, and pertinent information about crime statistics in the area. All of these factors help purchasers make a decision about whether they want to view the property or not.

– Reviews
Sometimes it helps to see another person’s perspective. Reading the comments of others, who have viewed the property or have had experience with a particular agent, allows potential buyers an opportunity to have feedback.

– Marketing
Realtors can market to a much larger audience through the various social media platforms. They can build their own website and drive traffic to it through Facebook, Twitter, YouTube, LinkedIn, and countless other digital accounts that potential customers will likely frequent.

– Virtual Reality
Giving clients the ability to “walk through” a property without ever leaving their own home is one of the advancements that many clients may value. Perhaps because of time constraints or lack of mobility, they can appreciate this feature. A Realtor can enhance his or her offerings with this technology. Drones provide aerial photos of properties and their surroundings. Clients may see the topography of the area, proximity to other structures, neighborhood areas of interest, and a bird’s eye view of a community at large. Hopefully, the result will be faster closings because clients will not waste time physically going through properties in which they have no interest.

– Efficiency
Agents spend less time on paperwork and culling properties that meet client specifications. They can devote that time to putting together a dynamic presence online that will impress prospective clients. This can also increase an agent’s chance of acquiring new business because it presents potential clients with an image of a self-confident person who can take care of their needs in a professional manner.

There are many profound ways in which the impact of technology on today’s Realtors is changing the game and it’s nothing short of miraculous. Just a few years ago, none of these advances were possible. With the advent of technology companies, whose sole purpose is to analyze and track the development of data that will enable agents to be more effective, traditional realtors find that they must evolve along with the industry. There is no place in the new world of real estate for dinosaur methods formerly employed by veteran agents.

Digitalization has its benefits, but it may have drawbacks as well. While it is certainly more efficient, it may also reduce the human interaction, which can be pivotal to closing a deal. An online list of homes for sale is expedient, but people still like the personal touch. If an agent can bring individuality and personality to the table, it may be just the thing that will clinch the listing or sale. People like to feel that they matter and that they are not just another means to a paycheck. Character and integrity are still very much sought after and appreciated. Going the extra mile to assure that clients are happy will only serve to increase an agent’s popularity in the neighborhood. Done well, he or she may become the “agent for the area.” Of course, this requires a great amount of diligence and forbearance.

Streamlining the process of home buying or selling makes a positive impression on clients. Things such as e-signatures save clients the time of driving to a title company or making time for the agent to come to their home. While this is a popular time saver, the agent should still be knowledgeable enough to explain what the clients are signing and its effect on a successful transaction.

Artificial intelligence is the next big customer service indulgence. It will help relieve the agent of many of the mundane tasks that a dedicated personal assistant would do. One new app on the market is the electronic notary. Clients can securely and legally have documents notarized from their home computers. Its functionality is another step in the digitalized world of the modern agent.

One caveat for the Realtor is that he or she does not want to become so distanced from clients that personal experience and knowledge lose their position in first place. With the click of a mouse, potential clients can perform tasks to which only a Realtor would have had access in the past. Today’s buyer still needs the guidance of the professional. Just because they have access to lots of information, it does not mean that they have the wherewithal to handle the process from start to finish. Numerous people have to come together in order to have a successful transaction, such as appraisers, attorneys, lenders, and title agents. The Realtor is the one who coordinates all of these people as well as having the information about the property that may not be online. After all, that information is gleaned directly from public records. There may be something that is not publicly recorded that the client may need to know. In addition, the agent’s relationship with fellow colleagues can help secure a deal.

Exciting technologies that are still evolving give Realtors the opportunity to be on the precipice of a new frontier. Consumers want to be instantly gratified. Agents who can make quick connections with them will be the early bird who gets the worm. The market is pretty competitive, and new and veteran agents alike still need whatever edge they can use to keep business from flowing through their fingers.

Redefining the role of agents in the process of buying and selling properties is the main thrust of how property is explored, listed, monitored, advertised, negotiated and sold. An agent who can address all these concerns and can work with lenders to make the circle complete is worth his or her weight in gold. Online mortgages are available to consumers in some cases. This can be a tremendous advantage for clients who want to know if they qualify for a particular property and what down payment they will need before contacting an agent.

If agents are not as well-informed as their clients, they will find that their confidence quotient goes down. The biggest take- away is this: Knowledge is king when it comes to successfully joining and remaining in the new digital world of real estate.

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7 Home Reno’s That Will Increase Your Resale Value Big Time

7 Home Reno’s That Will Increase Your Resale Value Big Time

You want to make the most money possible when it comes time to sell your home. The way to do that is by improving and updating the things in your home that buyers look for the most.

We compiled this list for those looking to boost their resale value. It’s important to focus on the renovation projects that will net you the highest ROI. All of the projects on this list were chosen for their ability to produce high ROI as well as create a more desirable home. Remember – it’s important to make money. But it’s also important your house doesn’t sit on the market for a year.

Make these updates and you should fetch a high sale price, quicker than you would otherwise.

Remodel Kitchen

kitchenThe decision among real estate experts about where you get the highest ROI renovating your home is unanimous. The answer is in the kitchen. For some reason people just want nice kitchens and care about it more than the rest of the house… Maybe it’s because that’s where people like to entertain guests.

Your main priority when renovating a kitchen should be layout. Creating a structure (or bones) that is functional and can easily be updated is super important. It’s one thing to replace a counter-top and cabinet doors. It’s a different story to completely renovate the whole kitchen.

Once you get the structure out of the way, search for materials that have a high quality look without a big price tag. You can make a space look modern and luxurious without having to use marble and granite.

I have seen so many people put in expensive goodies and never fix the bad flow. Spend the money on the layout — it never goes out of style. If you have a great layout, plugging in new appliances, hardware and cabinets can be quick and easy.

Update Bathrooms

bathroomBathrooms are the second place buyers typically place the most value in a home. The good news is that making updates to a bathroom doesn’t have to cost a fortune. En-suite/master bathrooms are the most important. As they say, it’s where the magic happens. Cast a spell on potential buyers with a beautiful en-suite. That was really corny I know…

 

 

 

Re-do Plumbing

plumbCan we say structural problems? This is the #1 worry of all potential buyers. No one wants to move into a beautiful new house and have a disaster occur two or three months down the road. Re-doing your old piping and updating it to a newer plastic solution is a huge selling point. This removes some of the potential fear that comes with buying a home.

 

 

 

Remove Paneling and Stucco

panelWood paneling and Stucco are common in older homes. Mainly because when it was popular, we didn’t have walls without imperfections like we do now. Not only are these two things ugly, they also show potential buyers that you lack the ability to update your home. “If you can’t update this, what is is lurking?”

Spend the time and money to update your paneling walls and get rid of the Stucco.

 

 

Attic Renovation

atticAttic renovations are a popular choice among DIY projects as expenses can be minimized. In many houses you will have the bones for a room. All that is required of you is putting up walls and handling the cosmetics. Updated attics can sometimes be a stronger selling point than updated basements.

 

 

 

Replace Siding

sidingSince curb appeal is so important, it makes sense to focus on the biggest factor. The outside of the house. Everyone knows the dingy, yellow siding that used to be white 60 years ago look. If your house looks like that – sorry. It’s time to update.

For those on a budget you can also try power washing. Power washing sometimes brings better results than you could imagine. And it barely costs anything.

 

 

New Garage Door

garageIn addition to replacing/refreshing your siding and landscaping well, your garage door can play a big part in selling your house. It’s another element of curb appeal that can draw in or turn-off potential buyers.

Luckily, new garage doors re-coup on average 80% of their investment in the long term. Basically, it will help you break even (or make money) while making your house more desirable.

 

 

In Conclusion

You want to sell your home in the least amount of time and for the most amount of money possible. The way to do this is by performing renovations with a high ROI. In addition, you want to focus on the most desirable updates. Doing so will ensure you attract more interest on your property.

Each of these on the list may not be necessary or feasible with your budget. Remember that curb appeal, kitchens and bathrooms are important. If you can focus on nothing else, focus on those things. These projects will reduce your risk of losing money in the renovation process and also help you sell quicker.

 

Need more information on selling your home in the (insert community name) area? Give me a call!

The Future Of Real Estate Commissions

The Future Of Real Estate Commissions

When it comes to real estate, it’s all about location. But when it comes to staging a home to sell the highest possible price, the importance of location applies to more than just the street.

The placement of your furniture and accessories can make or break a room and potentially even a sale.

Why it matter?

The look and feel of a space is created by the way the various items in that room are positioned. If you put them in the wrong place you can instantly diminish the overall appearance of the area, regardless of whether the items individually are stylish and on-trend.

Good placement, however, will have the opposite effect, to the point where even less attractive furniture located correctly around the room can produce amazing results.