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Leveraging Technology To Maximize Success
By Jay Case

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.

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  • 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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