Keeping Up With Technology – Where Does Your Business Stand?

Cambridge, ON (November 13, 2015)

The National Association of REALTORS® Real Estate in a Digital Age report states that 46 percent of all real estate firms consider keeping up with technology in the next two years a big challenge. The continuous change to existing technology and the development of new technologies make it tough to stay ahead of the game. So how do you?

Consider your prospects and clients. Target your technology according to who comes to you for real estate support, advice and assistance in finding a home.

Statistics from the report found that the use of online information such as website listings and photos were more effective when marketing to Millennials and Generation Xers. Whereas baby boomers found virtual tours on your listings and in-person meetings more effective to meet their needs.

The availability of new technology also means the transaction process has changed. The recent partnerships with companies like BackAgent, DocuSign and Dotloop® have shown leading technology company Lone Wolf Real Estate Technologies guiding this change. Lone Wolf's Transaction Management Integration Program is facilitating the various ways agents submit transaction documents. The Program serves the diverse needs of the office and connects the industry for more streamlined and efficient operations.

BackAgent, DocuSign and Dotloop® are the newest additions to the Program. The partnerships enable real estate agents to streamline the transaction process from the creation and execution of the documents managed through the partner platforms. Transaction data then seamlessly flows into the brokerage's back office solution, brokerWOLF, to eliminate duplicate data entry in multiple systems. All of these advancements mean the transaction process can turn into minutes and hours rather than hours and days.

These new partnerships enhance the functionality of transaction management technology and the electronic transaction process.

Brokers and agents have some preferences when it comes to the technology they use. Though brokerWOLF is their top choice for accounting software, there may be another choice for eSignature, eForms and transaction management. The Transaction Management Integration Program integrates with dozens of leading technology providers from eForm and eSignature to survey providers to transaction management and more, all to improve brokerage operations through the elimination of duplicate data entry.

Nearly half of all brokerages surveyed by the National Association of REALTORS® agree that the advancements in technology will keep us all on our toes in the coming years. Rather than seeing the abundance of technology available, focus on the needs of your clients and ensure you’re using the right tools and technology that align with how your clients want to buy or sell a home.