Real Estate Information Turned Into Knowledge
Real Estate agents are the experts that can take information and turn it into knowledge through experience and technology constantly advancing, upon which action can be taken. For example, a consumer can find the sales prices of all homes in a neighborhood just like an agent. According to “Future of real estate: knowledge driven services” article written by aciverain via Inman.com
“Real estate agents are the experts that can take information and turn it into knowledge, upon which action can be taken. For example, a consumer can find the sales prices of all homes in a neighborhood just like an agent. However, a consumer lacks the expertise needed to compare these sales and the circumstances around which they took place. The real estate agent knows how much a home sold for, how many offers it had, and other factors that help make the analysis of bidding on the next home better. Agents enable consumers to make a truly informed decision.”
The industry consist of agents who may not quite understand the necessary tool/ systems to turn information into knowledge. Which might create consumers to go on their own route and skip the realtor process for a while. They try learn the knowledge themselves, but can’t learn the information correctly to create systems that make the process of selling or buying a home much more easier. “They load up on information in the hope that, at some point, the information becomes knowledge. It rarely happens. They will evolve to agents who can bridge the perception gap between contract writers and knowledgeable experts.” “The agent of the future has to be prepared to take any information available and change it to actionable knowledge almost instantly. These agents have the tools necessary to discuss everything from remodeling pricing to a complete market analysis in minutes while standing in the home their clients want to buy. The technology and information are all there — they just have to be focused into knowledge that can be acted upon by the client.”
Real Estate today compared to the early 21st century has changed drastically, with the technology available today created by innovators make high money in their industry but that’s besides the point. Many agents resist using technology, including even the agents that do leverage, but not to its fullest potential.
“The answer to delivering knowledge isn’t the use of technology, it’s the application of technology to enable a compelling service experience.”
The article then clarifies an example.
“Sitting in a house with a buyer and burying your nose in a tablet for 10 minutes while you create a comparative market analysis (CMA) will not impress the client. Having a draft CMA prepared in advance of the meeting, then updating it in 60 seconds during a conversation, will definitely impress them. The difference is service — specifically, the speed, accuracy and method by which delivery of knowledge is your service. How well you do that, as powered by your expertise and appropriate use of technology, is the key to success … and the future.”