Technology provides competitive edge

Part 3: Surviving a real estate downturn

Learn the New Luxury Playbook at Luxury Connect | October 18-19 at the Beverly Hills Hotel

Editor's note: In this four-part series, Inman News examines the effect of the housing slowdown on everyday real estate business. We've asked brokers and agents what they are doing differently with marketing now that listing times are longer, how they are keeping an edge, and how a slowdown may or may not be impacting commission rates. (Read Part 1, Part 2 and Part 4.) As the housing market slows, budgets tighten, and some buyers and sellers may be clinging to unrealistic interpretations of local market conditions. Real estate agents will find themselves competing harder for clients, especially in a time when consumer Web sites are popping up everyday, giving consumers a sense of empowerment over what they do and do not know. Now, brokers and agents are discovering that with the right tools, technology can help them mine data in more sophisticated ways than consumer Web sites allow. Technology -- especially when combined with their own knowledge and insight -- can help brokers and...