Technology Impacts the Face of Real Estate
Technology has had an undisputable impact on the buying and selling of real estate.
According to the National Association of Realtors, almost 75% of all home buyers start their search on the Internet. On average, it is estimated that consumers will spend 17 months looking for a home. By the time they contact a realtor, they know exactly what they want.
Even cell phones have influenced the real estate marketplace. In earlier times, realtors who were out in the field were forced to rely upon pay phones and police radios to keep in contact with their clients. Today, cell phones have provided both the realtor, and the client, with 24/7 communication.
Therefore, it is not surprising to hear stories of people who have purchased homes solely based on the pictures posted on the Internet and phone conversations with the realtor. Makes one wonder what’s next.