Real News from RealNex

Why So Slow? Real Estate’s Adoption of New Technologies

Posted by realnexsteve on Oct 2, 2015 12:58:21 PM

There’s no denying that the real estate industry has been slow to adopt new technologies. With so many new technologies and systems available, why is it that the real estate industry isn’t jumping at the chance to implement new technology to increase sales and productivity?

There are a lot of different reasons why technologies - whether for real estate or not - are often slowly adopted. However, when you take the time to realize the basis for your slow adoption and really get down to the root of the issue, there really is nothing to fear.

Here are a few reasons we believe that real estate has been on the slow side of tech adoption:

Cost

Technology can be expensive, not only to implement, but also to maintain. Many real estate firms are reluctant to adopt new technology because they fear that the technology may not be worth the cost or that they will not have a high return on investment. Adopting new technology can come with a high cost of implementing, maintaining and hiring an IT professional when you have technology troubles, but the increase in sales, client satisfaction and productivity levels will make the technology pay for itself.

Think of technology as a long-term investment, rather than a short-term investment because while technology may be expensive, it will better your firm in the long run.

Getting Agents to Adapt

Even the most tech savvy agents may not know how to use the new technology and those who are not tech savvy may not want to include technology in their workflow. Even if you purchased the technology, it may take weeks or months to get all of the agents to adapt and learn how to use each new piece of technology, although with the right training and expertise, the technology can be learned quickly and will help each agent become more productive.

The best way to transition agents over to new technology is to have set training dates to get every agent up to speed with the new technology so that they can start using it as quickly as possible.

Transfer of Data

With so much data and client information involved in the real estate industry, it seems almost impossible to transfer all of that information from one piece of technology to another, but it can be done. It may seem overwhelming and tricky, but with the right IT partner you can have things transferred from your old technology to your new technology easily and safely.

A big concern is that when the data is transferred, that some may be lost in translation, compromised or deleted. If you don’t have an IT person at your real estate firm to assist in the implementation of the new technology and the transfer of all of your firm’s data, the best way to ensure that things run smoothly is to hire someone who knows what they are doing and will guarantee your data is safe during the transition.

Technology doesn’t have to be stressful or overwhelming, in fact technology will help your real estate firm grow, become more productive and increase sales volume. Adapting and learning new technology may take time, but with one powerful solution you can limit the amount of technology your agents must master and use in their everyday workflows, while improving overall productivity. Want to learn about technologies to streamline your processes? Connect with our team at RealNex today!

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