Real Estate And Technology Essay

1172 words - 5 pages

Real Estate and TechnologyTimothy Thacker (4366173)American Military University13 October 2013BUSN121: Real Estate PracticeProfessor Patricia WatsonExecutive SummaryTechnology use throughout America is at an all-time high. Seemingly every adult, teenager, and a large number of children have a smart phone, tablet, or iPod. The increased usage of these types of technology have created new businesses and revolutionized many others. Real Estate is not any different and new technologies have significantly changed the way in which marketing and office operations are run today. The speed and relative simplicity of technologies used have created a much more informed buyer/seller and enabled brokers/agents/realtors to become much more efficient in all things real estate. The days of spending an extraordinary amount of time searching and viewing properties in person has changed; the internet, social media, and digital media have provided platforms empowering the buyer.At the conclusion of this essay, a greater understanding of how technology is being used in real estate today will be presented. This information may grant prospective buyers/sellers on how to approach the polluted market. At the same time, agents may be able to identify areas to improve upon.Real Estate and TechnologyThe landscape of how Americans communicate, work, and play has changed significantly over the past ten years. The urgency, in which most Americans approach life, has been greatly enhanced with the development of the internet, social media, and use of technology. The accessibility of data and information at the fingertips of Americans, demand that all business tap into to the availability of technology. Aside from the benefit to potential customers; improved and advanced technology can create a smoother functioning business, more cost effective operations, and provide more information for their customers. These reasons, along with many others, have helped change the face of how the real estate business is ran and approached.For many years, the real estate marketing tools hinged around signage, posters, newspaper ads, and word of mouth. Prospective buyers may spend a weekend tooling around a city looking for signs, peering through windows of vacancies, and plucking flyers from information boxes at a property. After this long arduous task was completed, the pile of information could be sorted through and a list of possibilities narrowed down. This of course would be followed by a phone call or drive to the agency selling the property. Accordingly, tours would be set up and more time would be spent visiting the various properties. Although this method has proved effective in the past, technology has immensely streamlined this archaic process.These days, it's all about advertising on social media, Craigslist, and other marketing sites. The use of Facebook, Twitter, Instagram, Pinterest, and Vine enable a Real Estate Agency or Independent Agent to advertise properties to a vast amount...

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