Christian Lous Lange wisely said, “Technology is a useful servant but a dangerous master”.
Is it useful? Absolutely. Exciting? You bet!
That sounds like a win to me.
As we all know, the industry has undergone significant changes in the past few decades, and technology has played a major role in shaping how properties are bought, sold and managed.
So let’s explore the balance between people and tech and how we can make it work for us without impacting the client experience.
Despite the advancements in tech and the increasing number of online platforms for real estate transactions and engagement, I’d still argue (and am sure you would agree) that technology can never fully replace the role of agents and property managers.
While technology, agents and property managers can bring a wealth of knowledge (or in the instance of tech, data), humans can provide a personal touch that technology cannot replicate.
We understand the local market, the nuances of different neighbourhoods and areas, and can help clients navigate the complex legal and financial aspects of real estate transactions.
Importantly, we can adapt our language and approach to suit clients and make them feel comfortable and understood.
Technology cannot offer the guidance, support, and advice that clients need during a real estate transaction.
We give emotional support and reassurance, which is critical to a smooth transaction and expectation management.
So, how can technology make the client and employee experience better?
Here are the top three reasons technology can (and already has) improve the real estate industry:
- INCREASED CONVENIENCE
It is easier than it has ever been for clients to access market information.
They can use online platforms to search for and view properties, compare prices, make offers and sign tenancy agreements without leaving their homes.
This increased convenience not only saves time and effort but provides clients with more control and empowers them with decision-making knowledge.
This is a win for the industry as we have more informed and self-qualified buyers, tenants and investors.
- IMPROVED TRANSPARENCY
Technology has increased transparency and made it easier for clients to access real-time information.
This has helped level the playing field for clients and has made the real estate process more transparent – a real pain point in the past.
It has exposed underperforming agents and property managers and has added value and trust for high performers, as they have nothing to hide!
- ENHANCED COLLABORATION
Online platforms and tools have enabled us to communicate and share information and data, which has helped to streamline the real estate process through best practice adoption, idea sharing and ultimately, a better-informed industry.
This improved collaboration has made it easier for agents and property managers to provide better support and guidance to their clients, which has helped to enhance the overall client experience.
It’s a win for them, and for us.
We know the industry is all about relationships and trust, and technology cannot replicate the personal touch that agents and property managers provide.
However, technology can improve the client and employee experience by increasing convenience, improving transparency, and enhancing collaboration.
If you’re a non-adopter or avid avoider of change, I’d suggest you give it a try, you might be surprised at how much easier your role can become when you approach new tech and automation with an open mind.
In fact, I put the latest tech platform to the test and enlisted ChatGPT to write the first draft of this article before adding my personal touches. Pretty cool, huh?