Importance
- Your technological advantage can be woven into your brand and value proposition.
- Keep in mind, however, that the technology and tools you use are simply a means to an end.
The tools and technology we use in our business are driven by our operating model, the processes and activities we must perform, and the systems and software we have available to us. They are constantly changing. However we must remain up to date to remain competitive and understand their value. We must also keep in mind that our clients may incorporate technology in their daily lives, both personally and professionally, and they may expect the same from us.
Software
There are many software solutions generically used in business as well as software solutions specifically taylored for real estate that you may need to employ. These software solutions apply to such activities as generating marketing materials and documents, presentations, managing communications, marketing and distribution, collaboration, and data management and analysis. Given our operating model, activites, and the deliverables we must provide, we can evaluate which solutions are viable to support your business plan.
Data
There are many sources of data available to real estate professionals. Some sources are free while there are also many companies that offer data for a fee. Title companies may provide data for free in the hopes of gaining your business, although many are also looking to move toward data and technology as part of their business from which they can generate a profit.
Your brokerage firm may already provide data through arrangements made with outside companies, or your firm may have internal sources of data which it may be willing to provide you. Of course, we can't forget the many years of data you may have generated yourself by being active in the marketplace. Whatever your source, an effective business plan will mean knowing how to use the data you have available to you.
Infrastructure
Infrastructure is becoming ever more mobile and distributed. PDA's, smartphones, gps, wireless networks, internet, and cloud technology has extended the reach of your business. People are mobile and connected, anyplace, anytime, and this has affected their lives personally and professionally. This means we can't let our thinking be tethered to the past, because we are already being offered new capabilities through new technological infrastructure that affect how were are doing business now and in the future.
Internet, Social Networking and Social Media
The internet and social networking sites continue to be an important factor in business. They extend your reach, exposure, and capabilities. However, they must be considered strategically as part of your business plan. Their use must conform to your brand and they must be used in a way the upholds your duties to your client. Although the internet and social networking sites offer many opportunities, you must also address any risks and liabilities that can arise from their use as part of your business.