Has Technology Raised The Bar In Real Estate?

By
Real Estate Technology with Home Value Leads

Honesty And Transparancy In Real Estate

This post is being republished from the Home Value Leads blog for your discussion. 

Honesty, Transparency and Being Genuine: The new approach to real estate that is changing everything.

Real estate is one of the modern industries that has been affected the most by the Internet boom. Thanks to the rapid pace at which information is now exchanged and the widespread prevalence of the Internet in homes and public locations, real estate buyers and sellers now have the ability to get pages of information about a home or neighborhood with just a few clicks of a mouse.

What does this mean for the way that real estate agents do business? The plethora of information now available for consumers is forcing realtors to be genuine and honest in all of their dealings.

Why Honesty Was Not As Important Before The Information Age

Search engines like Google allow people in the 21st century to get the answers to almost any question they desire in as long as it takes them to type the words out in the search box. Because of sites like Trulia and Zillow, which together represent a vast share of the online real estate world, real estate consumers specifically can find a tremendous amount of information about their real estate needs. The Empowered Forrester research blog has given a name to this phenomenon: the Age of the Customer.

This is a stark contrast to the days before the Internet when people had to rely on sales professionals to get the information they needed. In these days, real estate agents had much more success by positioning themselves as experts in the property field. Customers were more willing to take them at their word that they were being totally upfront about what they said, which gave realtors more leeway to bend the truth as necessary when it benefited their business.

The Difference In The 21st Century

The advent of the Internet and the Age of the Customer has shifted the balance of power in the purchase of many things, including property. With the plethora of blogs, forums, and real estate tools available on the Internet, a consumer can easily find accurate information about real estate concerns they are interested in. This forces realtors to stay honest, since any fibs could easily be exposed using a quick Internet search.

For today’s real estate agents, it is important to be upfront and honest at all times. Clients will often appreciate the truth about the situation that you are working on to improve as opposed to telling a lie that they can expose later. It is too risky for realtors to tell a lie; instead, they must be upfront with their clients and give them details that they are looking for promptly. If not, real estate agents risk compromising their relationship with clients and damaging their reputation.

Honesty, Transparency and Being Genuine: It's a brave new world out there.  

 

Photo Credit: chadh

Posted by

Brian Rayl

Licensed Dallas Real Estate Agent 

Co-Founder of Home Value Leads

What is Home Value Leads?

Seller Lead Generation Tool

Comments (7)

Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

I think technology has definitely raised the bar in real estate.  When I was first licensed in 1981, my office had just received it's first computer to access the MLS. The internet was still pretty much unknown, but that quickly changed. Mostly though, in my early years, we still used a published weekly book for our MLS.  There wasn't a fax machine, no cell phones, and I was likely either one of the first, or the very first agent in Sacramento to get a pager.  We are a far cry from all that now.

Sep 03, 2014 05:22 PM
Chris Griffith
Downing-Frye Realty, Bonita Springs, FL - Bonita Springs, FL
Bonita Springs Listing Agent

I think it has helped raise the bar and also made life better for the consumer and agents with tools and apps that reduce the hassle and inconvenience.

Sep 03, 2014 07:47 PM
Amanda Christiansen
Christiansen Group Realty (260)704-0843 - Fort Wayne, IN
Christiansen Group Realty

It absolutely has.  I think with the rise of technology and social media, it has pushed us to become better at what we do, and pushed us to be transparent in our marketing.  

Sep 03, 2014 10:54 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Well, I've been in the business since long before the advent of the internet and honesty, transparency, and being genuine have always been my personal hallmarks--and it's paid off in keeping me solidly successful in this business. (Oh yes, it worked well for me for 18 years in the corporate world as well.) But your points are well taken for anyone who thinks they can get away without being honest, transparent, genuine in today's world.

Sep 04, 2014 07:09 AM
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

     Not only ZTR, but also the Property Appraiser, the Clerk of Court, the Tax Collector, the Statutes (Laws), etc.

    Here in Florida, under the "Sunshine Law", you can look up any Deed, Sale, Legal Description, Owner of Record, etc. in a matter of minutes.

Sep 04, 2014 07:23 AM
Florida Tolbert Team Keller Williams Advantage
Keller Williams Advantage III Realty in Lake Nona - Orlando, FL
Keller Williams Land Luxury Division Specialist

If you work it it will work.  Sure it takes a bit of extra time to tweak listings to perfection but then the magic happens. 

Sep 04, 2014 03:02 PM
Brian Rayl
Home Value Leads - Highland Park, TX
Active Agent and Co-founder Of Home Value Leads

I think the internet has made it easier to do their own research and it is very telling when an agent knows less than the client on a certain neighborhood that they claim to be an area expert in. On the other hand, if the agent is a bit more tech savvy than the client, they can appear to be that area expert with the help of a few searches and apps. 

 

Thanks for the comments all. 

Sep 04, 2014 05:04 PM