Industry NewsTechnology

Technology in a cooling real estate market

How Internet and tech use may change in soft real estate climate
Published on Dec 9, 2005

Internet marketing and a strong system to respond to consumer inquiries will be crucial for real estate agents' success in a slower housing market, industry executives said Thursday. In an Inman News audio conference, "Real Estate Technology in a Slowing Market," Tom Reddin, CEO of Real Estate at IAC Financial Services and Real Estate, and Colby Sambrotto, COO of ForSaleByOwner.com, shared insights about how consumers' and agents' use of technology and the Internet might change next year if the housing market indeed slows as many are predicting. "Consumers are going to look for all tools possible to sell their homes," said Reddin, who heads up the online real estate portal RealEstate.com. In a slower housing cycle, "the marketing of a home will become much more important," he said, and quite different than in hot markets when homes for sale immediately attract multiple bids. But marketing the home is just one piece. At the same time, agents will need to be immediately available to res...

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