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REALTOR®: REALTOR® 2.0: The Next Big Thing

Wednesday, October 17, 2007

New technologies and resources are changing the way REALTORS® do business now more than ever before. In fact, nearly half — 44 percent of REALTORS®' business originates from Internet, according to the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) "2007 Use of Technology Survey." In 2003, the first year C.A.R. conducted the "Use of Technology Survey," REALTORS® said only 19 percent of their business originated from the Internet.

The annual survey, conducted in the third quarter, tracks current trends in technology used by C.A.R. members. Realtors were queried on topics ranging from computer and technology adoption to Internet usage and trends.

C.A.R. Executive Vice President Joel Singer presented the survey results at "REALTOR® 2.0: The Next Big Thing," the general session kickoff to Tech Tuesday at the Anaheim Convention Center in Anaheim, Calif. Tech Tuesday offers a full day of technology training and information preceding the CALIFORNIA REALTOR® EXPO 2007.

"Realtors are striving to meet the demands of their clientele by delivering an unmatched customer experience as well as stay on the cutting edge in terms of Web 2.0—the 'mash-ups' of data and second-generation Internet resources and software tools," said C.A.R. President Colleen Badagliacco. "As Realtors move toward becoming more '2.0,' it will offer an opportunity for greater productivity and efficiency in the real estate transaction as well as contributing to the value Realtors add to the real estate transaction."

Realtors also are turning to high-tech instruments such as handheld Internet devices, e-mail, and Web sites to communicate with their clients. With 25 percent of Realtors using their handheld wireless Internet device "all the time," 28 percent of respondents said they answered clients' e-mails instantly and another 36 percent within 30 minutes to one hour.

Additional survey highlights include:
• 97 percent of Realtors have a high-speed Internet connection at home.
• 27 percent use a laptop or tablet computer in the field primarily to conduct listing presentations.
• 20 percent indicated that a new computer was their most important business upgrade in the last 12 months, followed by a hands-free phone at 19 percent and handheld Internet device at 13 percent.
• 87 percent find the Internet extremely or very important in the marketing and promotion of their business, up from 69 percent one year earlier.
• 9 percent of Realtors say they participate in online real estate forums or blogs.
C.A.R. President Colleen Badagliacco recently told members of the Silicon Valley Association of REALTORS® (SILVAR) in order to attract and serve today's real estate consumers, Realtors must be able to adapt to shifting market conditions as well as to trends in real estate technology. Technology is changing the Realtor's relationship with homebuyers and sellers, and Realtors who are willing to grow, learn and adapt to this changing market will succeed. She noted Realtors must incorporate technology and the Internet into their marketing and client services to meet the needs of this increasingly influential rising "Net Gen" generation.

Studies show many up-and-coming home buyers as "Net Gen," the generation born between 1977 and 1996 - the first generation born and raised in the era of the Internet. This generation's reliance on the Web can already be seen as Internet resources become more important in the home search process. The 2006 NAR Profile of Home Buyers and Sellers shows that a full 80 percent of recent home buyers used the Internet last year to search for a home. That's a dramatic increase from only 2 percent in 1995.

Rather than displacing real estate agents, the Internet is actually helping connect them with home buyers. In fact, buyers who use the Internet to search for a home are more likely to use a real estate professional than those who do not. Badagliacco also recommends Realtors continue to sharpen their technology skills by using Web-based transaction management systems, which could help cut down on duplicating information and errors in data management, while streamlining the transaction for their home buyer and seller clients.

"Being a Realtor is a good occupation. Our field represents people in every generation, in every neighborhood, with expertise in every area. That's what makes it a strong profession. But we need to be aware of the challenges ahead and take advantage of the opportunities. … You need to be that person on the top of the hill," said Badagliacco.


The Silicon Valley Association of REALTORS® (SILVAR) is a professional trade organization representing over 4,000 REALTORS® and Affiliate members engaged in the real estate business on the Peninsula and in the South Bay. SILVAR promotes the highest ethical standards of real estate practice, serves as an advocate for homeownership and homeowners, and represents the interests of property owners in Silicon Valley.

The term "REALTOR®" is a registered collective membership mark which identifies a real estate professional who is a member of the National Association of REALTORS® and who subscribes to its strict Code of Ethics.

Variations of this article have appeared in local area newspapers.

For further information, please contact Rose Meily at SILVAR Public Affairs, email , or phone (408) 200-0109.

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