From Alexa to automated follow-ups and digital lending to online signatures, technology is touching every facet of homeownership. While being at the forefront of new trends and tools is valuable, the basics are equally important, according to new research.
When it comes to day-to-day REALTORÂ® tasks, there are three standout technologies: lockboxes, MLS sites and social media, according to the National Association of REALTORSÂ® (NAR) 2018 REALTORÂ® Technology Survey. Sixty-four percent of the REALTORSÂ® surveyed leverage their local MLS site, 39 percent a lockbox or smart key, and 28 percent social media.
For generating leads, social media is tops (47 percent), according to the survey, followed by the MLS (32 percent), broker site (29 percent) and listing sites (29 percent). When asked what their broker can provide technologically, agents were interested in a CRM, predictive analytics and transaction management. Additionally, 41 percent of the REALTORSÂ® surveyed were “somewhat satisfied” with their MLS-provided technology.
The overall value? The ability for added efficiency and on-the-go work, according to the survey.
In August, NAR hosted its inaugural Innovation, Opportunity & Investment (iOi) Summit, bringing together developers, entrepreneurs, investors and REALTORSÂ®, and centered on technology.
“During the iOi Summit, REALTORSÂ®Â collaborated with leading technology firms to identify REALTORÂ®-friendly technology tools and resources,” says NAR CEO Bob Goldberg. “The Summit is a part of an ongoing process of creating a dynamic, competitive real estate market that will help NAR advance our members-first mission for years to come.
“The iOi Summit and the REALTORÂ®Â Technology Survey are both initiatives that help us better understand REALTORSÂ®’Â use of technology, embrace change and identify the business technology tools of the future,” Goldberg says. “Both are part of my vision as CEO, advocating for technologies that are REALTORÂ®-centric and ensure a competitive market for consumers throughout the real estate transaction.”
For more information, please visit www.nar.realtor.Â