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Leveraging Technology To Maximize Success
By Jay Case
Consumers are doing more and more business through Internet sites and
e-mail. They also are more plugged in to mobile devices, relying on
their cell phones, pagers, PDAs and other gadgets to keep them connected
business associates. When consumers are involved in a real estate deal
they use technology to learn about recently foreclosed properties,
research properties and financing options and communicate with lenders,
lawyers and realtors.
The real estate agent who understands and responds to this growing
reliance on technology will serve clients better, land more deals,
expand their client base and make more money. Leveraging technology is
one of the best things a realtor can do for his or her business. The
realtors who remain continuously available and responsive to prospects
and customers and who have updated property information at their
fingertips enjoy a significant advantage over their competition.
The cell phone, personal digital assistant (PDA) and Blackberry are
three technology tools that can have a tremendous impact on your real
estate business.
Some realtors are resistant to technology. Overcoming resistance is
critical for those who want to respond to the marketplace and make money
in today's industry. Here are some questions and answers to help you
warm up to new technologies.
- My real estate business is successful as is. Why do I need to change anything?
The market is changing. While the average age of today's realtor is 47,
the younger realtors entering the industry are technologically savvy and
appreciate the role technology can play in their business success. To
compete with this generation of agents, you need to be responsive,
flexible and in tune with technology. The National Association of
Realtors (NAR) reports that if a real estate agent fails to respond to a
prospect's email within two hours, that prospect goes to another agent.
* Next 37 17 investors only!
- Are you intimidated by computers and other tech tools?
Many realtors feel that they wouldn't know how to use a particular
product to its full advantage, so they avoid buying it. You can take
comfort in the fact that a good account rep will walk you through the
product you're buying and show you how to use all the features. User
manuals can also be very helpful, if you take the time to read through
them and play with the product. And don't forget your young family and
friends - teens and young adults tend to be much more technologically
savvy and are good sources of information when learning a new gadget.
- Are you reluctant to spend money on tech tools?
Investing in technology is one of the smartest things you can do as a
realtor, because it enhances your ability to communicate with prospects
and customers, research listings and foreclosed properties as they hit
the market, and respond more quickly than the competition. To run a
Blackberry with full voice and data access costs about $800 per year. If
you gain one more closing or list one more property as the result of
buying a tech tool, it becomes well worth the cost.
- Who wants to lug around all those gadgets?
Lugging is not necessary - today's tech tools are lighter and more
portable than ever. By choosing the one or two tech tools that you want
to use in your business, you can consolidate the items you carry with
you. And because many of the tech tools limit the need for paper
planners, calendars and address books, you may even lighten your load!
- Who has time to learn how to use these tech tools?
It doesn't take as long as you think and will save you time in the
long-term. Blackberry users reportedly save 51 minutes per day by having
the ability to make phone calls and access email and MLS databases on
the road.
Now that you've learned how technology can help even the most resistant
realtor, here are four technology tools that can help you build and
manage your real estate business.
-
Cell Phone
Most individuals count on their cell phones for personal and business
use. Since realtors are out of the office 80% of the time, a cell phone
is a basic necessity.
- Personal Digital Assistant (PDA)
The PDA allows you to throw out your address book and paper calendar and
have your schedule and all your important phone numbers at your
fingertips. You can make appointments and get in touch with people more
quickly and easily from the road.
- Laptop Computer
As laptops become smaller and lighter, they are easier than ever to take
on the road. With a wireless connection, you can access email or the
Internet easily and keep up to date on changes in the fast-paced real
estate market from wherever you can connect. Since 77% of realtors use
email to stay in touch with clients, it's important to have easy email
access from the road.
- Blackberry
Often referred to as mobile technology's Swiss Army Knife, the
Blackberry combines many of the features of the cell phone, PDA and
laptop. You can make and receive phone calls and pages, access email and
the Internet, and store all your appointments and contact information.
Realtors who use a Blackberry have instant, accurate information from
the marketplace 24 hours a day, seven days a week. Blackberry users who
subscribe to ForeclosuresMass.com's foreclosure notification service can
be confident that they will be among the first to receive the company's
weekly email and can get to work closing a deal.
Still not convinced that technology can help you make more money? The
National Association of Realtors reports that agents who leverage
technology make $47,000 more per year than those who don't. Seems like
an easy call to make.
Jay Case is a Corporate Account Executive with Nextel. He can be reached
at (617) 839-1156
or james.case@nextel.com.
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