Technology in Real Estate: Overcoming Challenges of IT in Real Estate
Technology in real estate is changing the way the entire industry works. Realtors are coming up with new and creative ways to not only market properties, but also interact with their clients on both sides of the transaction.
IT in real estate is not something anyone would have thought about 20 years ago, when the researching, buying and selling process was anything but digital. Today, everything is digital – from buyers researching homes to agents marketing homes and sellers receiving showing feedback from buyer’s agents through mobile applications.
While technology can replace many aspects of a real estate transaction, it cannot replace the agent itself – as the percentage of homebuyers utilizing agents has increased significantly in recent years. While the human element of the industry will never go away, technology in real estate changes the game – and every individual involved in the transaction – agents, appraisers, lenders and even home inspectors needs to be aware of the impact technology has on real estate.
Below are some challenges of IT in Real Estate:
Selecting the Right Software Applications
The right software can make the jobs of real estate professionals much easier. From handling confidential information securely – such as document signings and agreements to choosing an email marketing platform to generate leads for your business, software selection can be quite daunting. To overcome the challenges of selecting tools for real estate, it is important to understand the needs of yourself as well as your clients and demo several products before finding the right fit.
Understanding the Impact of Mobile
Real estate is one industry where the demand for mobile can’t be ignored. From sending clients new properties as soon as they hit the MLS to gauging buyer interest following a showing to signing documents anytime – anywhere when one side or the other gives a hard deadline, mobile is not a “nice to have” anymore. It’s a required technology in real estate.
Securing Confidential Information
A real estate agent has a fiduciary duty to protect personal information during a transaction – but what if that information gets into the wrong hands? While there haven’t been any high-profile breaches of real estate data in recent years, that does not mean the industry is immune to it.
Real estate is essentially the industry that invented Bring-Your-Own-Device, so a policy isn’t really necessary on the buying and selling side. On the lending side, however, well-developed BYOD policies and disaster recovery should be strong considerations considering how much confidential information is available in those environments.
As with any industry, safeguarding data and utilizing best practices for passwords and multi-factor authentication are very important to IT in real estate.
Feeling Lost in Technology
IT in real estate is constantly changing and keeps even the most seasoned agents on their toes. ThrottleNet has a wealth of experience supporting commercial and residential real estate agents, appraisers, lenders and inspectors from a technical standpoint.
We have expertise in a variety of communications solutions giving you access to all the information you need from wherever you need it, along with comprehensive hosted solutions giving the smallest of offices the capabilities of a large firm. Contact ThrottleNet today to get a leg up on technology and learn more about our capabilities serving St. Louis clients in the real estate industry!