In real estate, the impact of technology has been quite different compared to other professions because of its unique nature. In this industry, the human touch is preferred for essential functions such as counseling, strategizing and advice.
Leasing or purchasing a home through an algorithm without consulting an expert in the field is a recipe for a bad investment. There are too many variables at play for that decision to be an easy one much less one that can be made with the click of a few buttons.
The impact technology has had on real estate is less about reducing jobs. It has to do more with changing the way real estate agents actually work. That is where the real impact has been felt and especially in the commercial side of the business. Here are some ways technology is currently affecting the real estate industry:
The greatest impact technology has had on resources regarding real estate is their proliferation online. While a collective and centralized database has yet to be created, data and information on the industry is readily available for… Click To Tweet Countless websites are curating and offering resources that can aid novice and veteran agents and brokers to remain relevant in their chosen fields.
Leasing is more efficient than ever
Websites based on real estate provide professionals with leasing tools that can make their jobs easier to manage. This includes floor plans, property availability and data that can be accessed through centralized resources or apps. Rather than researching on their own and printing out countless documents, agents can record all they need to know on smart phones. Since all of the information is recorded on the cloud, it can be accessed anytime and anywhere.
Blockchain technology facilitates transactions
Blockchain refers to a growing list of records known as blocks each which is linked via cryptography. The technology is widely known for keeping track of digital currencies such as Bitcoin. As real estate consumers grow wary of how their data is shared, this technology has major implications for the industry.
Blockchain technology can aid agents in revolutionizing deals and by keeping costs private. As a new and more secure form of data management, the technology has captured the attention of lenders and financial institutions as well.
The ‘human’ impact of Big Data
Big Data has been a byword in the last few years because of its ability to drive decisions based on consumer experiences. It can be confusing and disorienting to the untrained eye, but not for professionals who are trained and experienced to extract relevant information from several resources.
Real estate agents can be counted as one of them. Residential agents in particular have humanized Big Data by using it to target potential clients for years. The technology is playing an increasingly active role in targeting prospective markets. Realtors who use social media find it easier to target specific clients and market to them personally.
As this data becomes easier to use and digest in Montana, it is fast on its way to becoming an essential element in modern real estate transactions. Advancements in technology will go a long way in humanizing big data and make it easier to digest, use and react to.
Montana Real Estate Continuing Education (CE)
Before taking on the technology you need to become a successful real estate agent in Montana, you need to complete advanced courses first. As a licensed agent remain ahead of the game by signing up for your Montana Real Estate Continuing Education requirements via 360Training. Each course is designed to aid students who want to study at their own pace and can be accessed online irrespective of location.
The CE courses meet Montana Board of Realty Regulation standards. The Montana 12 Hour Broker CE Renewal package teaches codes of conduct, an overview of Montana’s license laws and client focused communications. The 2nd package covers types of loans (fraud and predatory) along with 1031 real estate exchanges.
Improve your reputation in your field by signing up for the course today. The real estate industry can be tough in Montana and only agents who have the experience and education to beat the competition can make it. Sign up today.