Why is Technology Important in Real Estate
In this episode of Tuesday Morning Coffee John talks about the technology used in real estate, and how it effects you as a consumer.
JOHN: Hey, John Jones with another edition of Tuesday Morning Coffee. Today, we’re going to talk about the evolution of the Internet in the real estate industry and how it affects our industry. Seventeen years ago when I started in this business, we used to have these things called MLS Books, and if somebody wanted to see a home, they pretty much had to go through a realtor because we were the gatekeepers of all the information.
Another thing that was a big difference back then, we had to show a lot more homes because we had all the information. Buyers never had a chance to look at things online back in that time to narrow the search down. How’s that changed? Well, today with the Internet, buyers can narrow down that search and pick out the four or five homes they want to see and then contact us and say, “Hey, we want to see these homes.” And they do it by looking at the pictures or the virtual tours.
So either the photography can be good or bad. Either way, it affects maybe whether your home’s going to be shown or not. Another thing that happens is things happen quicker. It’s not uncommon for the day something hits the market to get multiple showings over that first weekend or that first day. That never happened back in the good ol’ days pre-Internet. What does this mean for you as a consumer? When you’re selling your home or listing a home, what do you want in an agent?
Two things I think you definitely need in regards to Internet. One is is that agent going to put your home out there on multiple sites—the national sites: Yahoo, Zillow, Trulia—to get it the most exposure possible? To me, that is crucial. The second thing is photography. If they’re not using a professional photographer, then they need to have professional equipment, either 18 megapixel or better, wide lenses. They need to understand lighting and how to take a good picture. This is extremely important when presenting it out there to the public because there’s a 95% chance that’s the first time somebody’s going to see your home is online.
I hope this helps. Give us a call if we can help you, 867-3020.