The Internet has taken almost every business by storm! While certain businesses may not depend on the Power of the Internet, in our line of business, in real estate, Internet allows us to reach a myriad of Buyers and Sellers, our bread and butter.

Unfortunately, the opening of the MLS to the public has put a great strain on our industry.  We do not have the competitive advantage of "proprietary" information anymore and instead we struggle to excel in Website development, Marketing, Media and a whole lot of other fields that really should complement our profession, not drive it.

It is time for a paradigm shift in Real Estate.  Well, it will happen whether we like it or not...

As Internet is educating our clients, we can only try to take advantage of being in front of them as frequently as possible, with the information they require. This should be done with the most minimum amount of money possible, as ROI in IT in every other business is still being challenged.

Think like a business person and outsource what you do not understand. But do it! Don't just sit around and think that real estate is remaining a business that is conducted at a "personal level". It is not... at least for most Buyers out there...

Since we ourselves are undermining our own colleagues, we might as well expect to be part of the war out there... Trying to steal a client... a listing ... a mortgage...  But having over 10,000 visitors to your real estate website and converting a percentage of them to clients is where the business will be.

Have you also noticed? Clients are not faithful anymore... Why should they be? The are on the Internet.  They have the power in their hands and the knowledge in their heads to go straight to the selling agent. Most Buyers do not need a Buyer agent anymore...

Internet will be the medium that will change our industry. You see it every day. Look at the crazy number of real estate templated websites, blogsites, podcasts and who knows what other sites are poppinmg up and "relate" to our business.

Therefrore, since we can only be dragged into this game in order to survive, I will try to distinguish myself, my business, my offerings and my website to be better, be optimized, more resourceful and functional than yours...

...Hope to see you too on Google...

Sam Kamoutsis
Broker of Record

PLANiT Real Estate Inc. Brokerage
658 Danforth Ave, Suite 401, Toronto Ontario M4J 5B9
Tel: 416-951-0110 Fax: 416-628-6860

Let's chat! Check to see if I'm online at http://www.PLANiTRealEstate.com

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15 Comments on Is the importance of Internet in Real Estate Overrated?

SEP
05
2006
I agree that it's best to keep up as fast as you can. We use to offer virtual tours at $129 per tour and didn't get very far. We've since started offering slide-shows to everyone for $24.95 per month for un-limited listings and have doubled or sales. Internet is the only way to reach everyone.
Celeste Cunningham
12:29pm • #1
168,540 Points Outside Blog
Whether we like it or not technology does help you sell...................But there is alot of bogus advertising on the internet
12:38pm • #2

I agree, there are alot of realtors out here that are trying to resist it, but the Internet is huge right now! The sooner they get on to that the better. It can make work easier by generating leads that you don't have to work as hard for and make communication a breeze!

1:02pm • #3

I was talking to some associates today about when I first got in to the business 21 years ago, how we didn't have fax machines, pagers, cell phones or PC's and we were stuck in the office most of the day waiting for people to call us back or thumbing through MLS books trying to find the right house.  I'll take technology over that any day of the week.

 Elias Papadopoulos

1:07pm • #4

I agree that the internet is taking hold of our industry by storm and we are starting to see so many external entrants who are trying to capitalize on the industry from a technological point of view.

I find that the more you embrace technology the more you are in tune with the developments and you will soon find that you will begin to develop new ways of thinking and marketing yourself and your services in non-traditional ways.

You can either choose to jump on the train or choose to walk.

1:39pm • #5
Look at who is buying homes these days.  You are looking at people that grew up with computers.  I look at the internet for movie listings before I would think of looking in the newspaper.  You have to adapt to the consumer.  The consumer expects you to use every tool at your disposal.
1:57pm • #6
267,220 Points 16 Featured Posts Outside Blog
If anything, the importance of the internet is underrated. It has revolutionized the way real estate is being marketed and sold. Realtors that don't embrace the new technology are going to find themselves without clients wondering what happened to their career. IMHO - Charles
9:50pm • #7
101,960 Points 7 Featured Posts
If you are not without, you will be out of business. There are still agents that will not work with the internet. Some don't know how to use email, will not fax a document, and continue to use paper files only.
10:16pm • #8
SEP
06
2006
I agree, just having a website is no longer any good. It has to provide features that others don't have. You have to stay one step ahead.
7:45am • #9
111,671 Points 6 Featured Posts Outside Blog

Great blog. We all have to embrace technology to stay alive in this business. Some agents who have been in business for many years are surviving fine on referrals & repeats alone but how long can that last? Anytime I think about going somewhere, buying something, finding information about pretty much anything, I'm going to go online first. So some clients may remain faithful to you but a lot of others will not unless you pop up towards the top of the search engine too.

Thanks for the blog!

Susan Milner, e-PRO GRI REALTOR

11:37am • #10
6 Featured Posts
If you think that it is hard to keep up with technology in Real Estate, try being in the IT business.  Your finely crafted skills and knowledge expire every 6 to 8 months.  You still can offer a competitive advantage, by focusing on an area and becoming the area expert.  Consumers want the information online, but they also want an opinion they can trust.  There is a point when software can't help a person make an emotional decision.
12:13pm • #11
3 Featured Posts

Rory
I came out of the IT business too.  I seriously believe many of us newer agents have been too long in it!

10:22pm • #12
SEP
07
2006
3 Featured Posts
Small Poll
(let's have some fun)
- How many of you agents came into real estate from another job?
- When?


7:16pm • #13
12 Featured Posts
I agree with you wholeheartedly though I will say the paradigm shifted back in the 1990s as far as internet-based MLS listings and marketing.  However, the advent of blogging, podcastings, and whatever will be hot in 6 months are newer features.  I consider myself tech savvy coming from IT as well, but I'm already behind the times on implementing many of the new technologies.  
8:17pm • #14
NOV
02
2006

"It can make work easier by generating leads that you don't have to work as hard for and make communication a breeze!"

Do you think that it will only follow that commissions should also be going down as well? 

Ben
12:02pm • #15

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Sam Kamoutsis

Toronto, ON

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PLANiT Real Estate Inc.

Address: 658 Danforth Ave, Suite 401, Toronto, ON, M4J 5B9

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