Technology-oriented attendees of the 2017 REALTOR® Conference & Expo in Chicago this past week are bringing back a fair amount of homework. First on the list: Embrace the future of blockchains, artificial intelligence, and big data.
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| Carrie Little challenges agents and brokers to go bigger when it comes to leveraging big data in their real estate business. |
“Real estate agents fear being replaced, and they will be. They’ll be replaced by a real estate agent with technology,” said broker Carrie Little during her session on big data during the conference.
Panelists highlighted the major real estate disrupters coming to the industry and showcased new tools to help real estate pros stay ahead of the curve. Here’s an overview of some of the tech content coming out of this year’s conference.
Real Estate’s Tech ‘Tsunami’: Blockchain and AI
Blockchain is expected to make real estate transactions faster, less costly, and more fraud-proof. It could also usher in the era of the “smart contract,” an automated real estate agreement that makes digital transactions swifter and cheaper to manage. Also, learn how artificial intelligence, or machine learning, is going to change the way real estate professionals do business.
Add More ‘Big Data’ to Your Content
Data can help you craft more relevant content that will build stronger ties with buyers and sellers in your market. Little offered advice for using sources such as MLSs and REALTORS® Property Resource to create infographics for social media, blogs, videos, or when hosting seminars in your community. Take her “Content Reboot” challenge today.
The Missing Piece in Measuring Affordability
Home shoppers using the “drive ’til you qualify” mentality may be missing a critical factor in selecting a truly affordable home. Transportation costs are typically the second largest household expense behind housing, and can make a home that appears affordable become less so, said Scott Bernstein, founder and chief strategy officer at Chicago’s Center for Neighborhood Technology, who presented during Friday’s Housing Opportunity Forum. Bernstein highlighted his organization’s Housing and Transportation Affordability Index, which factors housing and transportation costs into the affordability equation. Plug in an address at htaindex.org to get a breakdown of the average percentage of their income households spend on housing and transportation in your area.
What Consumers Want From You
In choosing a tech solution, consider what buyers and sellers really desire. Research shows they want rapid responses, market knowledge, and greater transparency within the process from start to finish. In a session on Sunday, realtor.com® executives highlighted several tools that aim to help real estate pros improve their communication speeds and outreach with consumers.
Former Catch Me if You Can Conman Offers Identity Safeguards
Former con artist Frank Abagnale was the master of assuming others’ identities. His story was depicted in the 2002 hit movie, Catch Me If You Can, starring Leonardo DiCaprio. Abagnale now uses his first-hand knowledge to help save others from getting duped. At the RISMedia Power Broker Reception Friday night, the former con man offered up tips for keeping business and client information safe from identity theft.
—REALTOR® Magazine
