Local Realtors balance online searches with one-on-one service Editor’s note: This is the final segment of a two-part series on the state of the real estate industry in Macomb and Wayne counties. This week’s article looks into how technology has changed the way that real estate transactions are conducted. By Christa Buchanan MACOMB/WAYNE COUNTY — For any business, keeping up with the times and customer demand means keeping up with technology, and the real estate business is no exception. Due to changes in how many consumers shop, local Realtors have been tasked with utilizing myriad technologies, such as the Internet, digital cameras and BlackBerrys, to keep up with the next generation of tech-savvy homebuyers. “Online is definitely the way people shop, and we’re constantly getting new systems to make it more user-friendly,” said Realtor Rich Sparks of Keller Williams Realty in Sterling Heights. When doing an online home search, potential buyers have access to everything from feature sheets and maps to comparative sales and information about the community. “MI Real Source (www.mi-mls.com) has a thing called a listing book, so our buyers can search for houses they’re interested in, and who knows better what they want than the consumer?” said Realtor Gary Patrosso of Keller Williams Realty in St. Clair Shores. Utilizing Web sites for housing searches not only saves time, said Patrosso, but it also gets buyers more interactive in the process, giving the Realtor a better idea of exactly what the buyer is looking for. “There’s no doubt about it, if you’re up on technology, it’s a very time-saving tool,” said Realtor Bill Finn of Century 21 Town & Country in Grosse Pointe. “On the flip side, it can be confusing because everything (online) isn’t kept up-to-date. … It’s like a kid in the candy store — they’re not heartbroken when what they wanted is gone (because) more just keeps coming up, and if there’s no deadline, they’ll keep looking forever.” Another problem with online searches, said Sparks, is that the information, such as the price, or whether a sale is pending or complete, may not be accurate. “Some databases aren’t maintained as they should be … and in this market, especially, the Internet can’t keep up with changing prices,” said Finn. “The real bible is the MLS (Multiple Listing Service): There’s rules and regulations — status changes must be in within 24 hours of signing for a (MLS) listing, and it’s the same with pending negotiations, they must be reported within 24 hours.” To that end, said Patrosso, buyers really need to find an agent who knows what they are doing so that they have “real-time” information on every listing they are considering. “This business is about developing relationships, helping people get what they want — in this case, a house. But first, you have to develop a relationship,” said Patrosso. By developing a one-on-one relationship with each client, said Finn, the Realtor can pinpoint exactly what the buyer is looking for and bring more options to the table. The technology/personal interaction combo can also be useful when a sale falls through, said Sparks. “You have no idea how cool this is. I recently had a closing that fell through, so I pulled up four pages of potential buyers interested in the property, and found a buyer and closed on time.” As for sellers, said Patrosso, it’s all about making their houses “stand out on thousands of Web sites” through intensive marketing. “The biggest change really is in marketing. We list on YouTube and Craigslist … Keller Williams links to over 30 Web sites,” said Sparks, who also uses a call capture system — “all my advertisements have a 1-800 number line that records messages” — to follow up with potential buyers. The advent of digital cameras has also affected change in marketing, as Realtors can create photo galleries of a home’s best features. “I try to have at least a dozen photos for each listing,” said Sparks, who prefers photos to virtual tours because “with photos, you can take an emotional tour of the house, highlighting architectural features to draw people in.” Like other industries, the real estate industry has utilized technology to reduce overhead, an increasing trend with the poor state of both the economy and the housing market. “For sure, it’s (the real estate industry) totally changed with the use of online media — everyone’s reducing overhead. Print response is low, so almost all the ad budget has shifted from print to the Internet,” said Finn. That’s not to say that print isn’t a valuable marketing tool, said Patrosso — it’s just that online media is more real time. As for the future of local real estate, the Realtors agree that the market is ripe for both first-time homebuyers and those seeking to upgrade. “There are phenomenal opportunities for first-time homebuyers right now,” said Patrosso, who advises first-time homebuyers to look into the new Federal Housing Administration and Housing and Urban Development programs. As for upgrading, said Sparks, “even if you lose $20,000 on one end, now’s the time to upgrade — you can get a far superior home” for a fraction of the price. “That’s a real positive for buyers. … In three to five years, they’ll have a ton of equity,” said Patrosso. For more information, contact Century 21 Town & Country at (313) 886-5040, Keller Williams-St. Clair Shores at (586) 541-4058 and Keller Williams-Sterling Heights at (586) 979-4200. To learn more about what’s going on in Oakland County or if you missed last week’s story, visit our Web site at www.candgnews.com and click on the Homes section. You can reach Staff Writer Christa Buchanan at cbuchanan@candgnews.com or at (586) 498-1061. |
