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The market is poised for big change. Are you?

November 07 2012

timeThe time is now.

You've probably heard that a million times in the course of your life and business. But never has it been so true.

We've finally arrived at the inflection point where consumers and real estate agents are both ready to manage the home sale transaction online.

People weren't quite ready for this ten, five, or even two years ago. They are now.

How do we know? Think about other things people do online now that would've been unthinkable not too long ago: They will rent a complete stranger's apartment or house without ever meeting them in person (likewise, they're willing to rent out their own residence to complete strangers!).

They will deposit checks by snapping a picture with their phone and uploading it to a mobile app. They'll send all their financial data to one online source to get a big-picture view of where their money is going or growing.

Work and business have also made huge strides in moving online. One market analyst now estimates that 375 million people use free and paid cloud storage systems like Dropbox, Google Drive and Microsoft SkyDrive, and the number could climb to 500 million by the end of 2012.

Real people use these services every day.

Buyers, sellers and renters are ready for big technology strides in real estate. The digital signature has paved the way, but now it's time to build a road the whole way home.

How can you, the broker, ensure we get there and ensure that your brokerage is leading the way?

  • Continue to invest in technology. Plain and simple.

  • Cut paper, cut servers and desks, and move the transaction online. Document management is now simple and secure in the cloud – where it costs less to manage and store, and offers transparency and efficiency to consumers and agents.

  • Walk in your customer's shoes. Imagine your own real estate transaction in 2015. Imagine you're the sales agent. What are your expectations? Would you expect to have to use a fax machine or mail a check? Would you expect mobility, transparency and urgency? Are your iPad and smartphone in the picture?

Many of you have created incredible efficiencies to get you through the downturn. Don't let the busy market distract you from all the strides you've made in cutting waste and streamlining processes. Don't let it all fall away as agents get busier and busier.

Go all in and don't look back.

If ever there's been a time when this investment was sure to pay off, it's now.

To view the original article, visit the RED Letter newsletter.