'Tech will only take you so far' in real estate
Real estate technology roundup
By Inman News, Friday, July 25, 2008.Bookmarking Sites
Bloggers discuss Facebook-to-Facebook communication
SAN FRANCISCO -- A series of real estate blogging sessions at the Real Estate Connect conference closed with a question-and-answer discussion that highlighted tech tools ranging from Facebook to WordPress. Kris Berg, broker associate for Prudential California Realty, joked that she has "signed up for everything, I just can't remember my passwords. I'm up to 10 friends on Facebook today and I got three in the last session." Facebook is a social networking site. Panelists also discussed PhotoDropper, ScribeFire and Twitterfeed, among other tech tools.
Jeff Turner, president of Real Estate Shows, said technology has its limits. "Tech will only take you so far. Tech is a tool. In someone's hands who understands how to use it is great. Tech for tech's sake is not useful. I'm not convinced -- as much as I love it -- that talking about tech will take you to the next level." And Joseph Ferrara, publisher of the Sellsius real estate blog, said it's important to focus on turning blog site visitors into clients. And Jay Thompson, broker for Thompson Realty, said that while the overall public perception is that blogs are a personal diary, they can actually be a powerful business and professional tool.
Lender Processing Services buys McDash Analytics
Recently spun off from Fidelity National Information Services, Lender Processing Services Inc. this week announced the acquisition of McDash Analytics, which provides access to a large loan-level database of mortgage assets for the purpose of benchmarking and analysis. LPS now offers access to data on more than 39 million active first and second mortgage loans, including portfolios serviced by nine of the top 10 mortgage servicers in the nation.
The data represents approximately two-thirds of the mortgage market and spans the entire credit spectrum of agency, non-agency and portfolio products. Access to LPS' complete loan-level data aims to give mortgage industry professionals a greater level of analytic flexibility, while minimizing the need to interpolate benchmarking results. "Providing analytic transparency on mortgage asset behavior is a critical factor to restoring confidence in the mortgage market," said Ted Jadlos, chief executive officer of McDash Analytics, in a prepared statement.
RE/MAX adds mapping, virtual imaging features
RE/MAX International, Inc. on Thursday announced the launch of Google Street View and Microsoft Virtual Earth features on its Web site, www.remax.com, in an attempt to enhance the user's view of properties, streets and neighborhoods.
"We know consumers are relying on the Internet, more than ever, to search and view property listings," said Kristi Graning, senior vice president of IT and eBusiness at RE/MAX International, in a prepared statement. "These advanced technologies give our users a better perspective of the properties and even neighborhoods in which they're searching, which is key to finding the perfect home."
RE/MAX International is also in the process of a Web site redesign. The new site, expected to launch later this year, will have a new look and feel and other new consumer-friendly features.
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Submitted by Paul Eastwood on July 25, 2008 - 8:26am.
Realtors have an overwhelming opportunity to invest their time and dollars in technology. In my marketing classes I strongly encourage agents to make investments specifically to solve business process problems. Start thinking about business processes and the large boulders (not pebbles) that lie in your way.
Then, invest in solutions that will help you overcome those boulders. If you can identify the really big issues and invest in technology to solve those problems then you will make wise investments.
Such an approach will help you avoid frittering away your hard earned cash on meaningless bells and whistles.
Too few large companies and agents actually take the time to consider their business processes - which is why we see many investing with a repeated shotgun approach, rather than informed, precise and laser focused decision making.
For example, if you have problems capturing leads - then focus on that, or maybe its a problem incubating the leads you capture - so look at that.
Paul Eastwood
http://www.SinglePropertySites.com
Submitted by Scott Farrell on July 25, 2008 - 10:02am.
Realtors (along with most people) will continue to search for the holy grail thinking techology will some how save them or make them much more productive. As I observe, train, and coach the couple of hundred agents in my company using the basics still are most important. I sit and watch some of them bounce from one thing to another while not completing any one task. Time management combined with techology will give you the leg up on the competition. Not just buying the new iPhone or other gadget.
Second, is put some demand on your brokerage to provide guidance, vendor selection and training to keep your competitive advantage. If your brokerage doesn't support you, go somewhere else.
Submitted by Joseph Bridges on July 26, 2008 - 2:25pm.
It is true that tech for tech sake will not take you only so far in real estate. Jay Thompson has it down with his blog as it is about converting visitors to clients.
At the end of the day we get paid to help people by and sell homes and technology is a great marketing vehicle for agents to meet more potential people to help.
You truly have to focus on one set of items to do.
Visit the blog at: http://www.InternetRealEstateSuccess.com
Real Estate Resources at: http://www.OnlineRealEstateSuccess.com
Submitted by Corey Leong on July 27, 2008 - 11:57am.
I am amazed and astounded no other computer scientist in the field has commented on this story to defend technology.
The missing perspective is the human factor which is where the flaw exists.
If the design is simple and efficient for a human user to use then technology is not limiting the factor. ie Google Search
The human or user is the flaw not technology.
Technology will take us farther then we as humans can and will ever imagine.
Corey
Submitted by Antonio Ciccarone on July 28, 2008 - 8:34am.
Words of advice: Even if you're a social butterfly, don't sign up for every networking site right off the bat. Keep it to a minimum to stay on top of what is going on.
Don't spend ALL of your time 'twittering', blogging and commenting because only someday will technology replace face-to-face. As for right now, human contact is still the best way to start a friendship, relationship or partnership.
Submitted by Jeff Turner on July 28, 2008 - 8:36pm.
Corey... no one needs to come "defend" technology. I wasn't bashing technology. I dig technology. You know that already. My comments actually align with yours here.
That said, as Antonio correctly points out, nothing is ever going to take the place of face-to-face when it comes to the ultimate in relationships.
The context for this discussion was "taking blogging to the next level." The "next level" is correcting what you're labeling as the human flaws. When it comes to blogging, the user is the barrier to getting to the next level at this point, not the technology.