In the words of Bob Dylan, "the times, they are a changing".
Sony created this you tube presentation about the rapid change in our world today. It is almost frightening in its scope. Little factoids such as CHINA is soon to have the largest ENGLISH speaking population in the world. INDIA has more honors students than the US has children.
Technology is changing so fast that subject matter a college student learns as a freshman is OUTDATED by the time he is a junior.
Does this apply to real estate? You bet.
We no longer rely on the daily newspaper to market our listings, we MUST use the tech tools of WEB 2.0 and mobile technology. A home seller should now ask an agent to PROVE their tech marketing capabilities BEFORE signing a listing agreement. Why would you want to lock yourself into a long-term contract with someone who can't keep up with the times and adequately market your home?
Buyers should seek the same competence in the agent they choose to represent them. In the fast pace of today's market an agent who thinks the fax is high tech will put the buyers at an extreme disadvantage, and if seeking an REO property, their offer may not be considered, or will fail because another got to the seller faster and more legible.
Buyers and sellers should consider how much time a professional agent MUST spend each week keeping up with ALL factors that affect the real estate transaction.
It is not just technology, but financing terms, Treasury rules, short sale procedures all have changed in the last week alone. This is NOT a part-time job, but a career commitment. If your in-law, best friend, next door neighbor etc doesn't have that commitment, should you commit your real estate future to them?
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