Home » Derrick Team Blog Posts » Technology In Real Estate

Technology In Real Estate

Early Technology

Early Technology

Over the years we’ve seen technology grow in leaps and bounds in every aspect of our lives. Some of it works to help us, while other things turn out to be a little lacking in practical sense. But for Real Estate it has helped make tremendous gains in how we buy and sell property today.

The main item we’ve become accustom to using for daily tasks is the Internet. It has gone from a small group of computers connected via telephone lines in the late 80’s to the all encompassing information resource which search engines like Google, Bing, and Yahoo use to bring us results for our information requests.

Where does this fit into Real Estate? Lets start with what Realtors have used for years to share information about regional property listings. Generically known as the Multiple Listing Service (MLS but here in the Indy area the BLC), this is a collection of local property information that is on the market at any given time. For years this was only available to members of the listing service which was local brokers, agents, and other MLS members. This information was printed in a book format on a regular basis and distributed to the MLS members. In each book there were pages and pages with many properties on each page in tiny little boxes with a tiny picture and not much information on the property. To get more information the agent had to call the MLS and had a larger sheet Faxed to them.

Fast forward to today and the Internet.  Now every property listed for sale by MLS members is posted in a database which is then accessible via the Internet. In the Indianapolis Metropolitan area we have MIBOR and the excellent system known as the BLC (Brokers Listing Cooperative). This information is then spread to many other sites that display the basic information to the ever growing property shoppers. According to many studies done today at least 90% of home buyers today first search on the Internet to find information about properties for sale in the area their interested in. Why is this important? How that information is displayed can make a great or lousy first impression on what is commonly referred to as the “First Showing”.

This is where an “Internet Savvy” Realtor can make a difference in selling your home. In future blog posts we’ll cover more on what a good realtor can do for you. But if you cannot wait, call The Derrick Team today at 317-563-1110 and we can show you what we will do for you to market your home to that 90% of Internet searching buyers! Or use our handy Contact Form here!

Leave a Reply