Real Estate News 24

Real Estate News 24

Realtors® Believe Drones, Cyber Security Are Real Estate

Beth McCandry

Washington, Aug 03, 2021 (GLOBE NEWSWIRE) –

Key highlights

  • Drones, cybersecurity, 5G, and virtual reality are expected to have the biggest impact on the real estate business over the next two years.
  • eSignature has been the most valuable technical tool Realtors® has used in the past 12 months.
  • 36% of Realtors® spend $ 50 to $ 250 a month on technology, while 23% spend more than $ 500.

Realtors consider drones and cybersecurity to be the most influential new technologies for their business, according to a new report from the National Association of Realtors®. NAR’s 2021 Technology Survey examined current technology usage and attitudes of NAR members towards the future of real estate technology. In addition to drones (37%) and cybersecurity (34%), Realtors® believe that 5G (31%) and virtual reality (30%) will also have a significant impact on their business in the next 24 months.

“The pandemic has confirmed to all of us in the industry that technology will continue to transform real estate,” said Bob Goldberg, CEO of NAR. “The great work done by NAR, including our strategic business, innovation and technology group, has ensured that Realtors® continues to have access to the latest technology and stay at the forefront of innovations that drive the market.”

The survey also looked at Realtors®’s current technology use and found that the most valuable tools over the past 12 months were electronic signature (78%), local MLS apps / technology (54%), social media (53%), lockers . were (48%) and video conferencing (39%).

Many brokers make these technologies available to their agents. 37 percent of respondents agreed that their brokerage gave them all of the technology tools they need to be successful, and 27 percent fully agreed with the statement. Brokerages’ top tools were electronic signature (57%), personal websites (54%), customer relationship management (54%) and transaction management (50%). About one in three Realtors® – 36% – said their broker did not charge technology fees, and 50% said the price their broker was charging was reasonable.

NAR’s report found that Realtors® are willing to pay for this technology even if their brokers don’t. 36 percent of Realtors® spend an average of $ 50 to $ 250 per month on technology they use in their business. Eighteen percent spend between $ 251 and $ 500, and nearly one in four Realtors – 23% – spend more than $ 500 a month on technology.

When asked about desired technology tools that are not currently provided by their broker, cybersecurity topped the list with 19%, followed by lead generation (16%), eNotary (11%), CRM (10%) and personal websites ( 10%). ).

According to the survey, Realtors® use social media more than ever in their companies today. The leading social network is Facebook, used by 90% of Realtors®, followed by Instagram (52%), LinkedIn (48%), YouTube (24%) and Twitter (19%). Video is also playing an increasingly important role in the marketing of real estate on social media. 37% use video in their marketing and 35% don’t use video but hope it can be done in the near future.

“There’s no denying that social media has become an integral tool for promoting a listing,” said Goldberg. “The pandemic has resulted in more of our members using social media and videos to creatively market themselves and their properties.”

Among the top reasons Realtors® cited for using social media in their business is that they are expected to be present on social media (54%), it helps build and maintain relationships with existing customers maintain (49%), and they use it to advertise offers (49%). Additionally, 36% of Realtors® use social media to find new prospects and 33% say it helps them connect with other real estate professionals. Social media was also at the top of the list when it came to lead generation. The top three technical tools that have generated the highest number of quality leads for respondents or their agents over the past 12 months were social media (52%), CRM (31%), and their MLS site (28%).

These current and future real estate technology topics are the focus of NAR’s iOi Summit taking place August 17-18 in Dallas, Texas. Over 500 real estate experts, technologists and investors will come together to share knowledge and present innovative real estate products and ideas.

“IOi is all about innovation,” said Goldberg. “This event brings together proptech leaders and thinkers whose products, services and solutions will help shape and advance the real estate industry.”

Learn more about and register for the iOi Summit at https://www.nar.realtor/events/ioi.

The 2021 technology survey can be downloaded from https://www.nar.realtor/reports/realtor-technology-survey.

The National Association of Realtors® is America’s largest trade association and represents more than 1.4 million members who work in all aspects of the residential and commercial real estate industry.

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For information on NAR, see nar.realtor. These and other press releases will be published in the newsroom at nar.realtor/newsroom. Statistical data in this press release, as well as other tables and surveys, are published on the Research and Statistics tab.