Real Estate Articles

It's time to live in the cloud, says real estate tech expert

It does not seem long ago when all transactions were done on paper and only paper. Today, banking, shopping, medical services, social networking, watching movies and TV shows are done online via a mobile device. Even much of the real estate business is done online, including the signing of documents with e-signatures.

Technology is moving fast, and if businesses want to succeed, they need to adapt because consumers are adapting quickly. If your business is not online, you are behind and it will hurt your business, according to Dave Metten, Coldwell Banker's manager of Real Estate Technology, who spoke to Realtors at a Silicon Valley Association of REALTORS® district meeting.

Where, then, should your online files be stored? In the cloud, of course, says Metten. Floppy disks, CDs, DVDs, and even USB flash drives are becoming obsolete; in fact, some of these digital storage products can no longer be used in some devices.

Why the cloud?

• Storing your files in the cloud reduces the carbon footprint by decreasing paper consumption. In the real estate industry alone, Metten says the average size of broker files is 800-3,000 sheets of paper. Some files use as many as 15,000 sheets of paper.
   
• Consumers are tech savvy. They want you to be tech savvy, as well. They will get turned off if they find out you are not.
   
• Mobile devices are no longer tied to a desktop computer. All devices are meant to work in the cloud. You can do business anywhere by accessing your files from the cloud and sending a link to these files to another party from wherever you are.
   
• Cloud storage is more efficient than storing years of paperwork.
   
• Cloud computing gives your business the advantage of reacting quickly and more effectively should there be any change in a transaction.
   
• Emailing files is limited. A 25 MB or 100 MB file cannot be emailed, but it can easily be stored in the cloud and accessed by sending the other party a link to the file.
   
• Cloud storage is limitless. You can store videos, booklets, music, movies, photos and files in the cloud. A number of providers offer free cloud storage services and you don't need to worry about your devise crashing or your hard disk becoming obsolete or destroyed.
   
• You have 24/7 access to the cloud from any device.
   
• Storing paper in your garage can be a fire hazard; cloud storage is far more secure.

Metten acknowledges threats of a security breach and hacking loom over cloud storage, but greater advancements in security systems have overcome many concerns. Metten strongly recommends being proactive by upgrading devices and software because upgrades usually contain new and better security patches.

"The cloud is not going away," says Metten. "We need to face it and embrace it."

The tech expert notes going paperless does not mean being paper-free. You can still print your files for clients who want them. The cloud is just a better and more efficient way of storing and accessing your files.

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 email or call the SILVAR office at (408) 200-0100.

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