escarpment
®
REAL ESTATE
117
WINTER
2015
|
Anyonewho knowsme knows that I absolutely love technology. Now, I am not the guy
who stands in line for days at a time to be the first to own the newest iPhone. In fact,
I am roundly chided occasionally formy stubborn insistence that theBlackberry is still
my device of choice. Why? Because, mymobile device is a communications tool tome,
and as a communications tool, theBlackberry suitsmy needs perfectly.
Part of theproblemwith technology
“is that themost zealous
of us havewhat the techsperts call “shinyobject syndrome”. The com-
pulsion tochase the latest and thegreatestwithout regard for utility.
Oneof thegreatexamplesof this in realestate is theQRcode.
Not toovery longago, REALTORSwouldput these fancy little squares
on their for sale signs. The thought was that peoplewould scan them
from their smart phoneand itwould take theconsumer toamobile-opti-
mized landing page that would impart further information about the
property inan instant. While thiswas no-doubt the casewithmany, in
general,2problemsbecameapparent,andbothhad todowith theutil-
ityof the technology.
Firstly,when is itmost likely foryou toseea for salesign? Prob-
ably in your car right? Have you ever tried to scan aQR code at 80
kilometers per hour? OK…what if youareREALLY interestedandyou
stopyour car? Areyougettingout towalkover the snowbank inyour
dress shoes toget closeenough to the sign to scan thecode? Iactually
saw a for sale sign in themiddle of a farmer’s field that said (once I
stopped so I could read it) “formore information, scanhere”. Do you
reallyexpect theconsumer towalk100meters througha field formore
info? Notmuchutility in that.
Secondly is the info we REALTORS attached to those QR
codes. Sooften,when scanned theywould just take theconsumer toa
generalwebsitewhereyouactuallyhad tosearchagain for the relevant
information. Worsestill,manyof thesewebsiteswerenotoptimized for
mobiledevices, further frustrating theattemptof theconsumer toget the
info theyare looking for.
So…here’s thedeal. Technology in real estate is the sameas
technology in life. It needs to have utility that serves the needs of the
consumer. Technology for technology’ssake inorder to impart theaura
ofmodernitywhilenotactuallyservicinganyone’sneedsorcreatingef-
ficiency isashinyobjectandshouldbe ignored (unlessyouareacrow).
The list of new real estate technologyavailable tous today is
dizzying. Iwould like tohighlight 3of thenew toolsandplatforms that
weareusing that I thinkadd real value to the real estatemarketingand
transactionprocess.
3D imagery and floor plan generation:
I think this is one of the biggest
gamechangers for thedisplayof apieceof real estateonline since the
advent of thedigital camera (or the internet for thatmatter). We know
that93%ofall peoplewhoare shopping for real estatedo it onlinebe-
foreevencallingaguy likeme. Youcan imagine thenhow important it
is toaguy likeme todisplay the real estate I havebeenentrusted to sell
in themostmeaningfulwaypossible toaconsumer.
Nodoubt photography has come a longway in the last 10
years,andvideo tourshaveupped thegamebyanorderofmagnitude.
Still though, I can’t tell youhowmany times I haveheard“this
place looksnothing like it does in thephotos”.
Well…along comes 3D imagery. There is a company in the
US that sellsa6 lensed3Dcamera thatwillgenerateavirtual tourunlike
anythingyouhaveever seen. It allowsyou tovirtuallywalk from room
to room, look left and right, upanddown. ThinkofGoogleStreetView
insideahouse. Itwill evengeneratea3D“dollhouse” imageof theen-
tire home. The downside? The navigation isn’t quite as intuitive as it
might be, and it takes FOREVER to load.
Theplatformwe settledon isaCanadian solution.A3DHDR
camera system that integrateswith laser ranger-finder anda software
system that generates a user experience unlike anything I have ever
seen. Thesystemgeneratesa fullyscaled floorplanof thehomeonmul-
tiple levels. The floor plan integrates fullywith thephotography soyou
cannavigate from room to roomand lookaround.Again,upanddown,
left and right, out thewindow, thewholenineyards. Theconsumer can
evenmeasureawall to see if aparticular pieceof furniturewill fit right
from their desktopormobiledevice. Sound far-fetched?Weareusing
it rightnow. Iexpect itwillbeasstandard tomorrowasstillphotography
is today.
Electronic document signing:
Remember when the fax machine first
cameout?Howgreatwas that?Wecouldsigndocuments in thecity,dial
anumberandPOW!There theywere inmyREALTORS’hands inColling-
wood.Thenwestoppedusing the fax(mostofus) in favourofemail. Now,
wearestandingon the thresholdof thepaperless transaction.
Therearestill some regulatory issues in theprovinceofOntario
that prevent theuseof electronic signaturesondocuments that change
title in real estate, but theprevailingwisdom is that that will change in
thenear term.When that happens, the transactionprocesswillbecome
evenmoreconsumer friendlyandefficient.
YourREALTORwill createa transactiondocument,andset the
criteria fordelivery. Itwillbesent toMrs. Jones forelectronicsignature.
When shehas signed it, itwill beautomatically sent toMr. Jones for his
electronic signature. Then it is proofedand sent to theother sideof the
transaction forexecution.When fullyexecuted itwillbestoredelectron-
ically, and the lawyers, financiers, even familymembers canbegiven
secureportals toaccess thesedocumentselectronically. Theentire trans-
actionaccomplished in record time,with total security,accessand trans-
parency, and without one piece of paper being generated. The
technologyalreadyexists. Weare justwaiting for the law tocatchup.
Real Estate isstillapersonalbusiness.Certain technologywill
add real value to theprocess if usedefficiently. It isnot likely to replace
human interactionany time soon, but will facilitate thedeliveryof best
inclassmarketingand real estate services. And that, after all, seems to
bewhat theconsumer is looking for fromus.
☛
DesmondvonTeichman
Broker of Record, Owner, Royal LePage
LocationsNorthRealty, Brokerage
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