Technology in Real Estate
The world is ever changing and the technology is advancing right with it. As a client looking for a Real Estate agent to assist with their buying process, looking for a company with technology savvy agents is important when looking for properties. Why might this be you ask? Well let me rebound by asking, do you want your search to be the most efficient, smooth, quick and convenient process? When companies are up to par on technology and the agents know all of the advanced technology services that the client can benefit from, a win-win situation is created.
There are many services that the Multiple listing service offers, but many agents are not savvy in technology enough to utilize the services. One of the services that MLS offers is a transaction milestones feature. This allows the agent to not only add participants to the transaction, but it allows the agent to track all of the progress and have the participants be able to view the progress as well. The participants the agent may want to add would be the seller, the lender and the attorney for listing purposes. Once a listing has a contract on the property, the agent may want to add the buyer, buyers’ attorney, lender, appraiser, etc. The agent then will upload all documents and check off all the progress being made. This way, all of the participants are informed as to what is going on and everyone will be able to see the documents added. This allows for a smooth communication process.
The other bit of technology that the multiple listing service offers is called MRED fax plus. This system allows all the documents to be electronically stored and accessible anywhere. The entire real estate transaction process of passing paperwork back and forth between vendors’ can all be done electronically with this system. The system contains a cover letter that has a unique bar code on it. That barcode is a unique identifier that allows for any transaction being sent via fax or email to automatically go to the appropriate property folder that is created by an agent on the MRED fax plus system. This way the client can access all of the documents within that particular folder anywhere at any time. The vendors just have to make sure that anytime correspondence is being sent, that they have the cover letter attached with the unique barcode identifier.
These two systems are available to all agents, but most agents are not trained properly to be able to utilize it. If you are a client, looking for a property, make sure that you ask whether or not the agents utilize these systems so that your transaction process is fast, easy and convenient.
