High-tech house hunting still needs human touch
Do you remember rotary phones? How about “Please be kind and rewind” posters at Blockbuster? Heck, how about Blockbuster itself? Technology is moving so rapidly that I knew a college student who did not know how to address an envelope; she never used the post office. The times, they are a-changin.’
Do you remember rotary phones? How about “Please be kind and rewind” posters at Blockbuster? Heck, how about Blockbuster itself? Technology is moving so rapidly that I knew a college student who did not know how to address an envelope; she never used the post office. The times, they are a-changin.’
In the real estate industry, technological advances have entirely altered property transactions. The days of paging through the newspaper and circling options in red are long gone.
Endlessly perusing homes online is now a pastime. Realtors themselves have vibrant websites, videos and even drone images to highlight their listings.
Last month, Realtor magazine featured a story on the National Association of Realtors’ newly launched iOi collective. The magazine, published by the NAR, covered how iOi, short for “indication of interest,” is the latest in a sweep of technological advances in the industry.
Meant to serve as a bridge between the real estate industry and the technology landscape, this new collective utilizes the latest advances in digital communication to provide content, webinars and innovative resources.
There is now an app where agents can verify client identities, thus providing protection when they show homes alone. The Naples Area Board of Realtors will be offering training for its use next month. Just one more example of how useful high-tech resources can be.
MLS, short for Multiple Listing Service, permits any subscriber to access an expansive range of data on any property for sale. Dimensions, amenities, layout and other specifications are available among participating brokers through this service.
The term MLS is believed to have first been used in 1885 in California. Speed up to 1910 when a group in Illinois is credited with writing all listings on a large blackboard, to then be shared with agents on individual postcards. Truly cutting-edge stuff at the time. Imagine what they would think of Zillow, Redfin and all the data available at our fingertips.
Naples Realtor Deb Dolinsky has seen these changes firsthand during her 42 years in the business, working in both Naples and her native New Jersey. “When I started, Realtors were the primary gatekeepers and you had to go to a Realtor to get to view, and gain access to, a property,” she said. “We didn’t even have a fax machine when I started.”
Now fax machines themselves are obsolete. Online information is immediate and detailed.
“Buyers and sellers can now get instant in-formation. Sellers get increased exposure,” Dolinsky said. “Buyers can do their own due diligence ahead of time; that was not available to them then.”
The internet is often the first place to turn for information. In the past, explained Dolinsky, it was not much better than that blackboard in Illinois. “We had no internet, so buyers and sellers did not have the same exposure. Technology was in its infancy and all listings were kept in a paperbound book that had to be updated daily, if not more frequently, on a manual basis. “
Now anyone eager to check out houses can log on and go window shopping; they can even specify how many windows are required. This is all due to the coordinated data within the MLS system. It connects agents, buyers and sellers with the latest specifications.
Way back in 1911, NAR President Samuel Thorpe cited the MLS as the most effective method for selling real estate. And that was in the blackboard era. Now, there have been “big, big changes in the process,” as Dolinsky said.
“Before the internet, buyers and sellers either walked into the office or called the agents up, based on advertising and/or direct personal referrals,” she said. “Now, the business model is evolving on a daily, even hourly, basis.”
Helpful as technology is, Dolinsky stressed that it does not replace the experience of a human advocate. “Realtors have the hands-on expertise, knowledge and ability to navigate complex processes,” she said. “To me it is crucial, despite the availability of online resources.”
No one can argue that whiling away a few hours looking at beautiful homes is a pleasant pastime. For those genuinely in the market to move, technology now offers specifications, dimensions and amenities for properties worldwide. While the negotiating skills and market expertise of a Realtor are missing, the internet is a great place to start when considering what might fit the needs of you and your family.
Once the matter nears the legally binding stage, a good agent can step in, reducing the stress of complicated transactions. We now have the best of both worlds.
Gone are the days when runners would be used to hand out updated notices throughout the day, every time the status of a property changed.
“If you had a broken arm, would you set it back in place yourself and put on the cast?” Dolinsky pondered. “I don’t think so, we leave that to the expert. That is the way I feel about Realtors: We are the experts in our field.”
And now with that expertise, coupled with the comprehensive background knowledge easily gleaned from the internet, both buyers and sellers have more resources than ever.
Just try writing all that on a blackboard.