PRESIDENT’S CORNER
TECHNOLOGY INITIATES NEW ERA IN REAL ESTATE A message from your 2022 GTR President Ruth Bryson We were reminded of the impact of technology on the real estate industry recently when Stellar MLS implemented changes to the MLS Touch app. Many of you shared the frustration of having to log in every 10 hours (now extended to five days and we hope soon for beyond that.) And yet I also was struck about how quickly these tools became a vital part of doing business. From small things like using an app that frees us from our desks and allows us to be immediately responsive to the growing use of cryptocurrency for both home buyer and mortgages, technology is redefining the home buying and selling experience.
opportunity go by. Read more about that in this issue and watch for related GTR courses. We often watch other industries to understand the speed of innovation taking place around us and one of those is the automotive market. I know many of you can remember when the catalytic converter was state-of-art technology for cars. Today, manufacturers are recruiting math and computer majors into lucrative automotive technology careers and even the American muscle car Corvette is going electric. If you are old enough, you can remember when buying a new home meant browsing paper listings taped to an office window or scanning the newspaper classifieds followed by a drive by. Obtaining a mortgage required stacks of paperwork and document gathering. In real estate today, Protech is now a multi-billiondollar industry, driving everything from virtual tours to seamless mortgage experiences. REALTORS® soon will find their daily toolbox filled with things like Conversational AI, which will give consumers 24/7 responses. Augmented realty and live video tours also are changing the way people tour properties.
Consider the technology so many of us now find indispensable: cell phones, computers, CRMs, digital photography and drones, social media, Supra eKEY, SavvyCard®, REALTORS Property Resource® (RPR®), and even Zoom.
Technology is already in place to create a fully automated buying and selling experience that is personalized and customized to each client. Data crunching tools can predict with great accuracy changes in the marketing place, such as rent changes, which will drive investment decisions. Technology may seem overwhelming right now, but just think how quickly we relied on the MLS Touch app.
Greater Tampa REALTORS® helps ensure you have access to day-to-day technology tools.
Real estate is everchanging and GTR is prepared to embrace it.
Savvy associations like ours also are looking ahead to burgeoning trends like blockchain, already a $3 billion sector, expected to grow to a $39.7 billion by 2025. Experts advise that while the blockchain can bypass agents, prudent buyers will still want an expert guide by their side. Understanding and embracing this technology may soon mark the difference between being successful and watching
RUTH BRYSON 2022 President Greater Tampa REALTORS® tamparealtors.org
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