A Technology Culture in Real Estate

As mentioned in a previous post, I attended the Real Estate Connect conference earlier this month. During one of the sessions, the Inman News staff revealed the results of a survey they took of over 1000 real estate agents. There were many interesting findings, but the one that resonated with me was that 61 percent of top real estate agents in the US are considering leaving their brokerage. The top 3 reasons were:

1. Disatisfaction with technology
2. Company culture
3. Lack of confidence in the vision for the future of the brand

This was particularly interesting to me because looking at the real estate business from the outside, I marveled at these 3 items, and they became the impetus behind starting RealDirect.

We believe that by embracing technology, the culture and confidence in the vision of the company will take care of itself. Here at RealDirect, we consider ourselves as much a technology company as we are a real estate company. We chose to locate in the heart of New York’s tech community, and have more web developers than sales people. But it’s our approach that is our true differentiator.

Quite simply, technology is a part of our DNA. We constantly look at our business and ask what we can do better by utilizing technology and data. Some things, like board packages for co-ops, are still stuck in the 1980’s, and no matter what we want to do, we still find ourselves killing trees to make the hundreds of sheets of paper needed for these antiquated forms. However, when a client asks us how long it will take to sell their apartment, we attack the problem like scientists and not salesmen. And the great thing about real estate is that most of the questions that come up every day have real data driven answers. A home is just a composition of space, rooms, amenities, condition, views, and location. When you break down these data points, there are tons of answers in them that make the process of buying and selling much less of a mystery. And by making the process transparent, we have the opportunity to change the perception of the real estate pro from a pushy salesman to a trusted consultant.

That is our vision of how a culture of technology can change real estate. If you share our vision, we encourage you to join the team!

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2 Responses to “A Technology Culture in Real Estate”

  1. Danielle says:

    Post was very interesting… My question is concerning the language: “61 percent of top real estate agents in the US are considering leaving their brokerage”

    What is the criteria you’re using to determine what a “top real estate agent in the US” is?

    Thanks so much! I appreciate that you’ve taken time to read my post!

  2. admin says:

    Thanks Danielle! According to the Inman survey, 61% of agents who make over $100,000 per year are considering leaving their brokerage.