Despite technological innovations, real estate still about relationships
In a world of instant communications, the real estate industry continues to keep pace with the latest technological advances.
Smart phones can work as electronic keys to open lock boxes. Programs offer instant tracking of listings in the multiple listing service.
Digital cameras upload photos and videos wirelessly to computers.
That’s not to mention electronic contracts and portable scanners that help to eliminate all of that running around town to get signatures.
Because most information is available online, it’s accessible around the clock from laptops, tablets and telephones.
Even social media has been infiltrated by the real estate industry with crowdfunding of investment deals and more opportunities for private mortgage financing.
Many of us have grown accustomed to using “QR codes” — an acronym for quick response codes offering access to data from what’s essentially a bar code. QR codes are sometimes found on real estate flyers and signs, providing some generalized information about a property.
I expect in the near future, “intelligent” photographs of properties will be embedded with every detail you want to know about an office, retail or warehouse space. This would include such things as room dimensions, ceiling heights, overhead doors, heating and cooling systems and many other features a buyer or tenant might desire.
With the right application, people would be able to access this information on a mobile device while standing inside the property or during the course of viewing a virtual tour or YouTube video.
Potentially, buyers and tenants could use the embedded information as a way to search for properties that meet their specific requirements.
As part of our ongoing effort to keep pace with these and other trends, many of us from Coldwell Banker Commercial Prime Properties in Grand Junction will attend the International Council of Shopping Centers conference in Las Vegas, the world’s largest retail real estate convention. At presentations on emerging technologies, we expect to learn more about the newest digital platforms that can improve our marketing efforts.
Even with all of these technological advancements that are supposed to make the job easier and provide more timely information to clients, the real estate profession still requires a personal touch. After all, someone has to filter through all that information floating around in cyberspace so buyers and sellers and landlords and tenants can make better, more informed decisions.
While the real estate profession continues to invest in the latest and greatest tech devices that help to save a little bit more time and allow faster service, the most important thing remains building relationships that last.