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August 7, 2002
Saratoga, California Since 1955 |
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Real estate: a high-tech,
high-touch business
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Jean Newton
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A new word has been coined to describe the
real estate industry—high-touch. Cathy
Whatley, president-elect of the National
Association of Realtors, said real estate
will remain a high-touch business even as the
industry embraces the latest in technology
changes. That's what consumers want, and
that's the forecast Whatley made to
technology vendors and real estate industry
leaders at a recent technology conference,
Real Estate Connect, held in San Francisco.
"I predict that the real estate industry will
adopt emerging new technologies that support
the underlying premise of the market—which
is one-to-one marketing. And despite
technology, real estate will remain a very
high-touch business," Whatley told the
general session.
Technologically savvy buyers today want the
high-touch features that Realtors provide,
Whatley said, even when they are using the
Internet as a tool. The National Association
of Realtors hopes to lead the way in bringing
about "this new information marketplace
today, tomorrow, and well into the future.
And we will continue to do what we do best,
which is to touch homebuyers in ways that
technology cannot—to offer our expertise,
our advice and our passion for service," she
said.
Whatley pointed out that, as real estate
professionals, "We're still in the business
of one-on-one communication with our
customers and clients. We need tools that
help facilitate efficient and effective
communication with the consumer."
The bottom line for Realtors is that they
will continue to invest in technology
products and services that meet their needs,
that increase productivity and complement
what they do, she said.
Supporting her prediction, Whatley cited a
recent study conducted by the National
Association of Realtors. According to the
2002 Profile of Home Buyers and Sellers,
Internet users recognize the value that a
real estate professional brings to the real
estate transaction. The study shows that
buyers who use the Internet are even more
likely to use a real estate professional.
Consumers who use the Internet tend to be
more informed. "The more they know, the more
they want a professional. Buyers want to ask
questions that only a highly skilled and
knowledgeable real estate professional can
answer. Homebuyers use the Internet as a
search tool in conjunction with—not as a
substitute for—the services offered by real
estate professionals," Whatley said.
Realtors are moving away from being at the
mercy of technology to taking advantage of
technology, Whatley said.
Realtors who work in the heart of Silicon
Valley are known to have some of the most
current whistles and bells in technology.
"Realtors have been ahead of the curve in
trying and using technology to enhance
business practices by using the latest in
PDAs, laptops, cell phones and other
communication devices. This enables them to
keep in touch with their clients to maintain
that personal 'high-touch' connection," said
Alicia Tuvell, president of the Silicon
Valley Association of Realtors and a Realtor
with Coldwell Banker in Los Altos.
Information provided in this column is
presented by the Realtor members of the
Silicon Valley Association of Realtors at
www.silvar.org. Send questions on any topic
to jnewton@jnpr.com.
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