The real estate business has forever been an uber competitive silo where members eat what they kill, which results in a high premium being placed not only on exclusive and up-to-date information, but the ability to manage that information effectively within a structured line of communication. There are so many people, so much data, and so many moving parts involved that make up a deal that all it takes is one person dropping the ball (or even being a second late catching it) to throw a monkey wrench in the entire process. But, with new forms of technology out there attempting to provide solutions to all of this decentralization, there is new hope. In my humble opinion, technology in general will allow our company to grow in the following ways:Providing the right tools – Analytics. Big data. These are buzzwords for a reason. It’s because they matter. They bring a new level of clarity to managing assets that streamline the entire process. The numbers tell all, but not when they’re fragmented in a bunch of different spreadsheets. New forms of technology are unifying these different sets of data and as such, produce greater insight into every deal.
Transparency – Modern CRMs allow you to delineate your next course of action right down the line to your team members. You can track their results in real time. All of this creates another level of transparency that keeps everyone not only more connected, but more accountable, efficient and successful as well.
Increased Collaboration – Modern technology does not only allow for increased transparency, but increased collaboration. In general, we live in a time where the workforce has been mobilized. Nowadays, you can be expected to be reached anywhere, at any time. The constant free flow of information, and the ability to communicate at all times, has resulted in increased, productive collaboration between the different members of a team. Reaction time, accountability, and maneuverability are all increased through the use of mobile devices. Overall, you have the capability to know exactly what’s going on with a deal or a particular property in real time, at all times.
In my view, this will enable real scalability for real estate companies of the future. These new tools enable us to understand, communicate, and work better together in ways that have never been possible before, and in turn, they allow your business to function in ways that it never possibly could before either. In the end, it allows you to sleep better at night.