Industry NewsTechnology

Cost-effective Web techniques for real estate

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Innovative Internet-based technologies for the real estate industry can be cost-effective, too. Blogs, wireless devices, off-the-shelf Web applications, video, virtual offices and paperless processes are among the examples of Internet-powered tools and techniques that don't require a huge investment of time and money before they pay off, said members of an Inman News Audio Conference, "Real Estate Technology: New Ways to Win." Bruce Hiatt, principal for Luxury Realty Group, a real estate company in Las Vegas, said his company has used separate blogs to target the downtown high-rise condo market and the market for homes in Summerlin, a giant master-planned community in the region. The company also produces video market reports for its clients to view online, and that has proved to be effective in reaching new clients, too, he said. "We found they were forwarding these video links to their friends ... this had a whole amoeba effect we never expected," he said. Promoting blog postings at...