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Using New Technology. When Do You Feel is the Right Time to Adopt?

By
Services for Real Estate Pros with The DotLoop Company

Society is being presented with new technology every day to increase connectivity and overall productivity.  Like most products, different types of people adopt technology at different times. 

For real estate professionals, it’s important to be familiar with new technology and the merit it presents towards productivity in business.  At DotLoop, the first collaborative workspace for real estate, we’re experiencing growth among Realtors®, much like other technologies do with their respective niches. 

With any new technology, there are five categories of people that adopt at different times.

The Innovators-They typically buy new products or use the latest software as soon as it’s available.  Regardless of high price or limited availability, these people see immediate value and go out of their way to acquire what they want. 

Early Adopters- While they don’t adopt immediately, they’re still considered on the cutting edge.  They adopt technology before it becomes the norm, giving them an upper hand when the majority is still learning to use it.

Early Majority-This group adopts technology after they understand its value.   While they’re still on the early side of adoption, they’ll typically make the investment after they’ve heard testimonials and see first-hand what the new technology can do for them. 

Late Majority- Often times more conservative, this group needs to know what the new technology can do before spending their hard-earned money.  This group’s adoption usually marks the downward trend of a products popularity or relevance; sometimes resulting in lowered prices.  

Laggards- This group tends to see new technology as a luxury rather than a necessity.  Therefore, they typically adopt technology when they’re the only ones without it.  If they do buy, they often pay substantially less because the technology is no longer new, thus decreasing the demand. 

People view technology in different ways.  Where some feel the newest, most cutting edge products present new opportunities in business others may deem frivolous and unnecessary. 

However, it’s important to remember that technology’s increasing presence throughout society means adoption may be necessary sooner rather than later.  The question is, what category best defines you when leveraging technology in your business?  

 

Comments (2)

Phil Leng
Retired - Kirkland, WA
Phil Leng - Retired

Oh so true!

I used to be an early adopter. As I have gotten older I have moved to Early Majority.

Thanks for the post. Can't wait for your technology to be available in Seattle area

Phil

May 24, 2011 04:08 AM
DotLoop Company
The DotLoop Company - Blue Ash, OH

Your welcome Phil and as always thank you for reading.  KW agents along with many others have access to DotLoop and we look forward to bringing it to you.

 

Thanks again,

 

DotLoop

May 24, 2011 04:47 AM