Big changes could be coming for real estate tech

January 13, 2019

Real estate technology is rapidly evolving, so it's wise for agents to study and get a better idea of how emerging options will change their day-to-day work. The good news is that a proper strategy for investing in and integrating new tech into a daily routine can end up paying for itself many times over for agents who do their homework. The following areas may be particularly good places to start.

Perhaps the biggest issue where technology can have a direct positive effect on a real estate professional's day-to-day work is its use in lead generation and organizing, according to the Forbes Real Estate Council. Real estate pro Jeff Brown noted that agents can use the tech options available to them to get a better handle on collecting data that's already in the public domain and broadly available, and filter that down to find potentially great leads they might not have otherwise gained access to, potentially at a fraction of the cost of previous leads.

AI helps too
Along similar lines, artificial intelligence has already gained a foothold for use in the industry in a number of ways, but the ability to quickly and easily sort through reams of data or automate various labor-intensive tasks are probably the two biggest areas where it can help an agent on a daily basis.

For instance, AI can quickly and easily help agents filter down a number of listings that might be particularly appealing to a would-be buyer based on any number of criteria, or better collect and organize information to turn a curious online visitor into a strong lead in short order.

Just the beginning
There are many other existing technologies that will get a leg up from those that are emerging, enabling agents to wring a little more value out of the systems they've been using for years, according to HousingWire. For example, the ability to better handle information already stored in a customer relationship management platform - and interpret it effectively - is something that might not be all that simple right now. But over the course of 2019 and beyond, more solutions are likely to become available that will help take existing client or lead data and provide a little more value to the agent both in terms of time and financial investment.

While some agents may be concerned about whether technology will "replace" them eventually, this almost certainly won't happen, real estate tech expert and CEO Jeff Lobb told the site. Simply put, there are too many things that need a personal touch in the real estate game to make agents obsolete.

With all this in mind, the more agents can do to read up on the options and come up with an investment strategy for the year ahead, the better off they're likely to be when it comes to getting a strong return on their investment.