Industry News

Computers + education = more real estate profits

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

A famous quote in the real estate industry states, "Technology will not replace real estate agents, but real estate agents with technology will." And new research conducted by the Federal Reserve Bank of San Francisco suggests that those agents with technology and education will likely earn greater profits than the ones who don't incorporate the Web and technology into their business plans. Workers who used computers during a test period of 1984 and 1989 earned about 10 percent to 20 percent more than workers who did not use computers, according to research cited in "The Computer Evolution." The study used data from five surveys, covering the period 1984-2001. The two key aspects of computer evolution examined were the spread of personal computers (PCs) at work and the evolving wage differences between people who use computers and those who don't use them. Since the introduction of the IBM PC in 1981, desktop computers have become standard in most workplaces. The spread of compute...