When I DON"T Use Technology in Real Estate
Love all my geeky things…my iPad, my Windows 7 phone, my blog, facebook, twitter, Google+ and all things that make me the cool “Nana-Agent” that I am and at the top of my game. BUT, that said, there are a few Technological Advances in the real estate biz that send me running back to “Old School” business practices.
Most notably…the online signing of Real Estate contracts.
21 years…almost no instances of Buyer Remorse. You know…that thing that causes a Real Estate Transaction to #FAIL, because a buyer is having 2nd thoughts about whether or not he really wants to buy the property he contracted to purchase. Some things are better done “nose to nose; toes to toes” and signing a real estate contract is one of them.
I’m not talking about an initial that’s needed on an insignificant change or minor event. But ANYTHING at all that involves making a firm and binding COMMITMENT, should be done…IN PERSON. Why? So I can read the body language. See if they are sweating profusely. Experience the reality that one is happily signing, while the spouse is asking 20 Questions about “How do I Cancel and get my Earnest Money back?”.
When someone is spending over a half a million dollars…
you really don’t want to make it TOO EASY.
Part of the problem is we pretty much TRICK buyers into signing Binding Contracts by calling it “an offer”…which…if the seller signs it with no changes…can quickly become a ZOMG! “aha! moment” that instantaneously becomes Actually BUYING the House vs “Making an Offer” on it.
I have yet to hear a Real Estate Agent say: “Let’s go type up and sign a Binding Contract to BUY This House”, vs calling it “making an offer”.
Technology is GREAT! It really is! Love it! BUT…when someone is putting their “John Hancock” on a contract to purchase something that costs Hundreds of Thousands of Dollars…we don’t necessarily want them to do that…in a Nanosecond.
Christina Ethridge
Posted at 00:30h, 06 AugustInteresting – our “online signed contracts” are done face to face – just on the ipad with no paper present. Well, it’s face to face if the buyer is right here, otherwise it’s over phone & email (we get a lot of out of state buyers that make offers while they are still out of state).
We’ve found that the easier we make it, no matter the price range, the happier our clients are about the purchase.
Ardell DellaLoggia
Posted at 01:40h, 06 AugustChristina,
Don’t you deal mostly with investors vs Mom and Dad buying a home for their family, or 1st Time buyers? It’s been awhile since we talked about those specifics, but when we did, I’m pretty sure that was the case.
Erika
Posted at 11:10h, 01 DecemberWet electronic signatures are technologically advanced but i think they still have a place in real estate because nowadays you can get signatures directly on your iPad or tablet PC face-to-face rather than an online electronic stamp. I don’t think it’s technology that is the issue, it’s whether or not you are making smart choices and using each technology in the best case scenario, not just using it use it. As CEthridge stated, many of our clients love this ability and in turn, so do their clients.
Gabe Sanders
Posted at 18:02h, 06 AugustAbsolutely true Ardell. With all of our high tech toys, there’s still no substitute for face to face contact, soothing assurances and explanations.
Don Reedy
Posted at 21:48h, 06 AugustHere’s what’s interesting to me, Ardell.
Technology that is used to market ourselves – great.
Technology that is used in our businesses to help us operate more efficiently – great.
Technology placed in the hands of the consumer to make them smarter, more informed – great.
But your take on the INTERSECTION of technology and the human experience is spot on. There need not be a push, even from the most technology affirmed geeks, to circumvent the valuable experience that comes from looking, feeling, touching, hearing…..
Funny, I was just telling somebody about some time I spent in Seattle some years ago. They started to Google a couple of the places I was describing, and I stopped them and said simply “drink your scotch, sit back and listen, and try to enjoy my story.” Thanks for the post, and now I think I’ll go home and reminisce about Alki Beach…..
Tellis Coleman
Posted at 14:59h, 08 AugustI was just talking about this the other day. My wife tried to get rid of my carrier pigeons and told me to get something called cell phone. I told her ” You can’t go to jail for having pigeons!”
Seriously, I have had making it “TOO EASY” backfire on me when I, at one point in my career, did all of my contract overviews by video. I thought all of my clients would embrace it. They hated it and I hated it.
But online signing is awesome!
To each, her own.
John Evan Miller
Posted at 21:05h, 08 AugustI definitely think that technology has its place in the real estate market, but yes..it can be over used and even abused. Some people can even use technology in a way to encourage buyers to make instant decisions that negatively affect the lives of the buyers. However, those that would stoop to a level that knowingly puts others in cruel situations would be done face to face by these unethical individuals if technology was not present. Therefore, I don’t think technology is bad for real estate at all and it can have great benefits; however, it is the user that can be dangerous to buyers.
Susan
Posted at 16:25h, 15 AugustVery good advice here. The real estate industry definitely needs to remember that sometimes the tried and true methods can be slower, but can have a way huger impact and is also important when it comes to referral rates. Emailing forms can be faster, but nothing beats the hands-on realtor who is there to answer your questions while you’re signing the life-changing documents.
Judi Boad
Posted at 17:15h, 17 AugustI couldn’t agree more! The human touch still needs to be the most important contribution we make to any relationship!