Technology has made great strides in the past 15 years with impacts to our careers, how we build and maintain friendships and even how we date.
Perhaps the largest impact of technology has been to consumers. How we find, select and purchase goods and services is much different today than it was even a few years ago.
In residential real estate these changes are profound. Searching for a home has fundamentally changed. Understanding those changes and incorporating the corresponding upticks can be the key to finding the home of your dreams.
Technology has greatly changed how we search for homes
This has profound impacts for consumers seeking a new home
Understanding those changes and their implications is key to every successful search
Trend 1- Enhanced Searches
It used to be that searching property listings meant slogging through countless pages of homes that barely warranted consideration in hopes of finding a diamond in the rough.
Today homebuyers can use geo-mapping to target specific neighborhoods and search based on virtually every aspect of a listing. This includes granular info like bedroom size, property tax, lot size and countless others.
This change has at least two major implications. First, with so much data available it makes defining in the correct search criteria imperative. Secondly with more consumers online, these change have upped the level of competition and put a premium on timeliness of response. Several best practices can help you capitalize.
- Speak with a professional to consider every option and refine your wish list
- Work with your agent to define specific search parameters that match your criteria using maps, geo-positioning and advanced search features
- Ask your agent to set alerts and email details when listings that match your criteria appear, so you can act fast and vet them for possible follow-up
Trend 2- Increased Accessibility to Agents
Along with changes to online property searches, another key change has been an increase in engagement and availability of agents. With text, email and cell phones, tracking down your agent or contacting his or her office is now easier than ever. Based on the fast-paced and ever shifting dynamics of the current market a timely response from an agent is now easier than ever and an absolute must-have.
- Discuss with any prospective agent what their typical response plan is for client inquiries
- Ask how they handle time out of the office and if staff is available to backfill
- Share the best way to contact you and hold them accountable to your schedule and preferences
Trend 3- Evolution of the Real Estate Agent Role
Perhaps the largest change technology has brought is to the very role of the real estate professional. Gone are the days of an agent primarily aiding in sourcing properties, instead the role today increasingly means vetting those properties, negotiating terms and applying expertise to every phase of the process.
Agents will still help you find a home, but for many tech-savvy searchers, the other considerations have become much more important. This makes finding an experienced agent crucial. The days of agents with metro-wide coverage or a day job adding significant value are over.
- Engage with an agent who knows the nuances of your target search area well and has the transactions to prove it
- Ask for references prior to hiring someone and do your homework
- Be clear with any potential agent exactly what you are looking for in terms of support and role, ensure that they are up to the task
A Trusted Partner
At Zachary Adams and Associates we specialize in tailoring home searches to the needs of each individual client.
We understand technology and the role it can play in a home search and our focus is on meeting the changing needs of our clients by being efficient, effective and fully engaged. We specialize in the west metro of Minneapolis because we know the area well and have 100s of transactions under our belt. If you are seeking a new home in Plymouth, Maple Grove, Minnetonka, Wayzata or the surrounding area, we’d love to sit down and hear what you are looking for in a new home and how we can be a resource for you.