Key Technology Challenges Hampering the Growth of Real Estate Industry in 2022

With the increase in cyber threats, businesses need to choose technologies built with security in mind. By choosing Paperless Pipeline real estate transaction management software, you won't have to settle for second best.

Fremont, CA: The real estate industry has benefited greatly from the impact of modern technology, but there are also caveats and pitfalls to consider for every advantage.

Below are a few of the main obstacles real estate organizations and professionals still need to overcome in 2022 and possible solutions that can help them avoid these problematic issues.

Security

Data security affects all industries, but real estate is particularly vulnerable to exploitation because of the sensitive information involved in every transaction.

With the increase in cyber threats, businesses need to choose technologies built with security in mind. By choosing Paperless Pipeline real estate transaction management software, you won't have to settle for second best.

Data breaches cost companies millions of dollars to recover from on average, so any additional costs that come with selecting secure software and hardware can easily be justified, as the alternative is unthinkably expensive.

Client Interactions

Using digital platforms, realtors can provide sellers with access to tools that let them showcase their properties in the best possible way.

The result of this is that buyers don't even have to visit homes for an in-person viewing but can rely on photos, videos, virtual tours, and more to make an informed decision about whether or not to put an offer in.

The problem with this is that agents aren't getting the same face-to-face access they had with clients in the past and are being sidelined by technology.

Due to the lack of human connection, deals can take longer to close, and sales opportunities are lost.

By combining advanced video conferencing, rather than impersonal emails or voice calls, as well as insisting on sticking to tried and tested physical property viewings, agents can cope with this dilemma.

Employee Training

As real estate agencies and brokerages adopt new technologies, they often forget that employees need to be trained on the use of software and hardware. When they are not, then technological investments may go unused or improperly implemented.

Although employee training comes with its own costs and concerns, it is better viewed as a benefit rather than a burden. When all team members have access to the latest technology, the long-term benefits for the organization will be substantial.

Team Cohesion

Due to the fact that technology has transformed real estate into a remote industry, businesses have to contend not only with a lack of in-person time with clients but also with the fragmentation of the modern workplace.

Some people work from the office, while others work from home, which might help with things like recruitment and retention. However, team cohesion may suffer, and a clear distinction between in-house and remote workers will arise, which could cause fractures.

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