In the 1980s, the real estate industry was very different than it is today. The average house cost around $90,000 and interest rates flirted with 20%, an unimaginably high rate. In the real estate broker’s office, you would have found the occasional computer (with green text on a black background), Rolodexes, and copy machines as big as a Volkswagen. But, technology evolved, and so did the real estate industry.
Many real estate brokers are stuck in the past, at least with regard to their technology. One factor that sets leading real estate companies apart from their competitors is the fact that they use technology to their advantage to become more efficient, understand data trends, and ultimately gain new customers.
How can you gain a leg up on your competitors in the industry?
By Gaining Efficiency:
A must for every broker is a reliable and portable laptop. For an agency with multiple brokers, each laptop should be configured using a master image to ensure consistency across the workstation fleet, and security to protect sensitive data. After all, brokers may host open houses or other events where their laptop may be exposed.
Many small businesses also don’t consider the lifecycle of the laptop. The average lifespan for these machines is often around 5 years. Around that point, equipment tends to be sluggish, outdated, and more prone to issues, making the user less efficient. Budgeting for regular equipment refreshes ensures your agency is prepared for such expenses.
By Understanding Data Trends:
There are many metrics real estate agencies can use to gain a better understanding of trends in the market and within their own business. One leading tool agencies can use to gain this insight is Microsoft Power BI
. This cloud-based tool allows agencies to easily collect, analyze, manipulate, and visualize data. It can pull information from multiple sources and display it in one, easy-to-understand dashboard, and reduce the amount of manual processes needed to collect and display data. A better understanding of market data means a more efficient use of time.
Check out this video
or our data modernization workshop
to see how data can help in real time.
The technology your business relies on every day doesn’t have to be stuck in the past. When used properly, it is an investment back into your organization. If your real estate agency could use help modernizing the way it does business, contact us today to see how we can help you gain an advantage over your competition.