The home buying process and the business of real estate have come a long way with advances in technology. These days, more consumers and agents are using mobile devices to gather information and transact business.
“It is amazing how far we’ve gone in just the last five years,” says Carolyn Miller, president of the Silicon Valley Association of Realtors. “The smartphone has become an essential part of our lives–in keeping in touch with our clients, other agents and family members. Lately, tablets, which now have many apps for Realtors, have been very useful and are becoming a seamless way to transact business.”
Miller, who is with RE/MAX Real Estate Services, says the local association provides members free purchase contracts and other real estate-related forms online. Tablet applications enable users to fill out forms, prep them for signing and have the documents signed on their tablet, right then and there.
“If you’re a Realtor in Silicon Valley, you need to be tech savvy and on top of the latest technology gadgets,” Keith Walker, of Intero Real Estate Services, told agents at a local meeting that focused on mobile technology.
Realtors are becoming more tech savvy in their business. Andy Tse, also from Intero Real Estate Services, says he has had good results with online marketing.
Tse stresses the importance of a good website. He likens an agent’s website to a “glorified business card,” noting it is one of the first places prospective clients will visit to learn more about an agent.
Mobile technology is present in nearly every facet of the consumer’s life. According to the latest home buyer survey by the California Association of Realtors, eight to nine out of 10 home buyers access home information on their smart phones and computer tablets.
The 2013 Survey of California Home Buyers found 85 percent of buyers used a mobile device during the home buying process, with 70 percent of buyers accessing the Internet from their smart phones and 15 percent accessing it from their tablets. While 62 percent of buyers found their home through an agent, the percentage who found their home online more than doubled from 16 percent in 2012 to a record high of 37 percent in 2013.
The use of social media as a form of communication is expected to grow, as well. Agents say they use social media to cultivate relationships and keep in touch with clients. Buyers primarily used social media for buying tips and suggestions from friends, 43 percent; neighborhood information, 42 percent; and to view their agents’ Facebook pages, 41 percent. Ninety-one percent of buyers say they are receptive to receiving information about the home buying process from their agent via social media.
While agents see the importance of maintaining an Internet presence and utilizing mobile technology to respond quickly to clients, they stress nothing is better than a personal relationship.
In another discussion about the topic, Dana Rogers, who is with Alain Pinel Realtors, says, “We are in a service business. You need to interact with people.”
The importance of the personal factor is not lost in this age of technology, adds Miller. In fact, Miller says the real estate professional is even more important today.
“It’s a more complicated market out there and more than the gatherer and provider of information, a Realtor is able to provide consumers with a deep analysis of the data, insights to a home and neighborhood, and negotiate and guide them through the home buying process, so all flows smoothly for all parties involved in a transaction,” says Miller.
Information is presented by the Silicon Valley Association of Realtors at silvar.org. Contact rmeily@silvar.org.
