Realtors® believe that drones and cybersecurity are the most important emerging real estate industries … | news

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Washington, August 3, 2021 (GLOBE NEWS) –

Key points

Drones, cybersecurity, 5G and virtual reality are expected to have the biggest impact on the real estate business in the next two years. ESignature has been the most valuable technical tool used by Realtors® in the past 12 months. Thirty-six percent of Realtors ® spend between $ 50 and $ 250 a month on technology, while 23% spend over $ 500.

According to a new report from the National Association of Realtors®, Realtors® view drones and cybersecurity as the most effective new technologies for their businesses. NAR Technology overview 2021 examined the current use of technology by NAR members and their relationship to the future of real estate technology. In addition to drones (37%) and cybersecurity (34%), Realtors® believe 5G (31%) and virtual reality (30%) will also have a significant impact on their business in the next 24 months.

“The pandemic has confirmed to all of us in the industry that technology will continue to transform real estate,” said NAR CEO Bob Goldberg. “The great work that NAR has done, including our Strategic Business, Innovation and Technology group, ensures that Realtors® continue to have access to the latest technology and stay at the forefront of innovation to drive the market forward.”

The survey also examined the current use of technology by Realtors® and found that the most valuable tools used in the last 12 months were e-signature (78%), local MLS applications / technologies (54%), social media (53%) , safes. (48%) and video conferencing (39%).

Many brokerage companies provide these technologies to their agents. Thirty-seven percent of respondents agreed that their brokerage company provides them with all the technology tools they need to succeed, and 27% strongly agree. The main tools provided by brokerage companies were electronic signature (57%), personal websites (54%), customer relationship management (54%) and transaction management (50%). About one in three Realtors® – 36% – said their broker did not charge technology fees, and 50% said the price their broker was charging was reasonable.

The NAR report showed that Realtors® are willing to pay for this technology even if their brokerages do not. Thirty-six percent of Realtors® spend an average of $ 50 to $ 250 per month on technology to use in their business. Eighteen percent spend between $ 251 and $ 500, and nearly one in four Realtor® – 23% – spends more than $ 500 a month on technology.

When asked about desirable technology tools that are not currently provided by their brokers, cybersecurity topped the list with 19%, followed by lead generation (16%), eNotary (11%), CRM (10%), and personal websites (10 %). ).

According to the survey, Realtors® are using social media in their business more than ever before. The leading social network is Facebook, which is used by 90% of realtors®, followed by Instagram (52%), LinkedIn (48%), YouTube (24%) and Twitter (19%). Video is also playing an increasingly important role in social media marketing for real estate. Thirty-seven percent use video in their marketing and 35% don’t use video but hope in the near future.

“It cannot be denied that social media has become an indispensable tool for promoting listing,” Goldberg said. “The pandemic has forced more and more of our members to use social media and video to creatively promote themselves and their property.”

The top reasons Realtors® cited the use of social media in their business include the fact that they are expected to have a social media presence (54%), it helps build and maintain relationships with existing clients (49%), and they use it to promotion of ads. (49%). Additionally, 36% of Realtors® use social media to find new leads, and 33% say it helps them connect with other real estate professionals. Social media also tops the list when it comes to lead generation. The top three tech tools that gave respondents or their agents the most quality leads in the last 12 months were social media (52%), CRM (31%), and their MLS site (28%).

These current and future real estate technology topics will be the focus of the NAR iOi Summit on August 17-18 in Dallas, Texas. Over 500 real estate practitioners, technologists and investors will gather to share views and present cutting edge real estate products and ideas.

“IOi is about innovation,” Goldberg said. “This event brings together proptech leaders and thinkers whose products, services and solutions will help shape the real estate industry and move it forward.”

Learn more about the iOi Summit and register online https://www.nar.realtor/events/ioi

The 2021 Technology Overview is available for download at https://www.nar.realtor/reports/realtor-technology-survey

The National Association of Realtors® is America’s largest trade association with over 1.4 million members involved in all aspects of residential and commercial real estate.

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Information about the NAR is available on the website People’s agent… This and other news bulletins are posted in the newsroom at nar.realtor/newsroom… The statistics for this release, as well as other tables and summaries, are located in the Research & Statistics tab.

National Association of Realtors Spencer High® 2023831051 shigh@nar.realtor

Copyright 2021 GlobeNewswire, Inc.

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