 | Daily Real Estate News | May 16, 2008 |
5 Technology Predictions for Real Estate
More powerful mobile tools; voice-activated devices; and a whole lot of video will make real estate practitioners better connected with customers in coming years, predicted a panel of technology experts at NAR's Midyear Meetings.
Most of the new technology will follow the mantra: “I think, I get,” said panel member J. Lennox Scott, chairman and CEO of John L. Scott Real Estate in Seattle.
Some of the panel’s predictions:
- Many more mobiles. The real estate industry is already ahead of the curve when it comes to smart phone usage. Currently, 11 percent of the population in the United States has smart phones, while 28 percent in real estate own one. And within the next 12 to 24 months, another 30 percent of real estate pros are expected to buy some form of handheld device, said Errol Samuelson, president of REALTOR.com. In surveys, real estate professionals say they use handhelds because the devices present a more professional image, enable them to be more responsive to buyers, and help them secure and serve clients. Samuelson predicted that in the next decade, more people will access the Internet via mobile devices than through their PCs. To spur this increased usage, Samuelson expects an explosion in smart phone application software, battery life, screen size, and easier interfaces such as touch screens.
- Widespread video use. More than 141 million viewers watch 3.3 billion videos on You Tube a month, which is more than double the 65.6 million who subscribe to cable TV, Samuelson said. Yet real estate practitioners have been slow to adopt video in their business, despite the fact that 74 percent of consumers say they would be more inclined to list with a salesperson who puts a video of their home on the Web, said Samuelson.
- Customized content. Consumers will be able to set more of personalized parameters for the real estate information they want, creating more individualized and customized content as part of their real estate searches.
- Voice command technology. No more looking down and hunting for information on your mobile devices while you’re driving. More technology will incorporate voice command options that let you call up information with just the sound of your voice, Scott said.
- High-speed wireless networks. The recent emergence of 3G cellular networks gives mobile devices Web access at close to cable modem speeds. Some companies are even promising networks that will work at four times these speeds by 2010. Networks are also expanding their capacities so customers can connect at longer distances from towers.
- More ads on mobile devices. Soon you’ll be able to promote your property listings and market your services more quickly than ever before, all over a mobile device.
— By Melissa Dittmann Tracey for REALTORŪ magazine online
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