The twenty-first century began more than a decade ago and since then, we’ve certainly seen our fair share of technological improvements. The Internet has undoubtedly changed the way people do everything in their daily lives. Things like banking, shopping and taxes are done online by a growing majority of people because it’s quicker, simpler and more efficient.
In the last few years, social media has reinvented the online space. The advent of facebook and twitter has inspired new sites catering to more specific niches and functions to simplify every aspect of people’s lives. With user-driven content dominating the Internet, real estate professionals must recognize and seize opportunities including:
Adapting to increased Internet use by clients- Since more potential clients are using the
Internet to purchase items these days, they’re more inclined to seek an agent utilizing technology for buying and selling property. A new generation of home buyers is one equipped with smart phones and other mobile devices that allow them to do virtually anything, anywhere at anytime.
As society becomes more connected, agents will have no choice but to recognize and meet the demand for online real estate transactions. DotLoop-equipped agents can initiate transactions and invite the necessary parties in immediately to negotiate and finalize a deal.
Keeping up with competition- online platforms make the entire real estate process easier and efficient, they will become the status quo throughout the industry in the future. Brokerages and agents that work in a collaborative workspace such as Dotloop are ahead of the competition because of reduced overhead costs and increase efficiency resulting in higher earnings.
Facilitate transactions across state lines- For home buyers moving to another state, the process can be very time consuming and often times overwhelming. Therefore, agents using DotLoop where transactional details are done online gives the client and agent more flexibility than back-and-forth phone calls and meetings. Realtors in a collaborative workspace can easily set up meetings where both parties can amend and electronically sign the documents without leaving the office or home.
Expanding global markets- It’s become easier to do business with partners and clients at all corners of the earth as the Internet transcends global boundaries. This, along with an increasingly global economy, has encouraged the buying and selling of real estate across international borders.
However, the only way to feasibly carry out these transactions is using the Internet. Otherwise, documents would have to be faxed or possibly even mailed depending on security issues. Therefore, an online, collaborative workspace where all parties have access to up-to-the-minute transaction details is safer and more efficient.
As more society becomes more connected, agents must recognize and meet the demand of the tech-savvy home buyer. The Internet broke the barriers of traditional transactions and real estate is no exception. Different people in different situations would agree that facilitating the transactional details of a real estate transaction through DotLoop’s collaborative workspace would be far easier than the traditional alternative.
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