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Evolving and Optimizing Your Real Estate Business with IT

By: Nick McConnell

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Staying current on the latest real estate technology trends can give your practice the competitive advantage. 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.

Modernize Your Real Estate Practice with Information Technology

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. The ever changing digital landscapeis constantly revealing powerful new real estate technology trends.

How can you gain a leg up on your competitors in the industry?

By Gaining Efficiency

The most common real estate technology trends involve leveraging efficient computer hardware. Every broker requires 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 Around that point, equipment tends to be sluggish, outdated, and more prone to issues, making the user less efficient.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

Without the proper resources, it can be difficult for a small practice to keep up with real estate technology 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.

Industry-Leading IT Consulting & Managed Support Services

Real estate technology trends are constantly evolving and can directly impact the success of your business. 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, our real estate IT services can bring you up to date. Contact our IT consulting firm today to see how we can help you gain an advantage over your competition.

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