Invasion of the geeks

Newcomers changing real estate industry

A press release from issued today by Lead Lease caught my eye, Internet Entrepreneurs Will Take Control of the Real Estate Industry. While I don't think much of the expensive hosting services offered by Lead Lease, I couldn't agree more with the headline that technological innovators are sure to significantly impact the real estate industry.

The comment in the press release about Realtor branding is pretty interesting. Hoards of Realtors have built websites that create themselves as the brand. The only problem is that home buyers doing a search don't care about a branded Realtor, they are interested in communities and amenities.

The site Trulia is going to make a big impact on how buyers locate potential properties. With its impending success, others are sure to follow. Although it has not yet made much of an impact in SW Florida, Craigs List is playing a significant role in real estate advertising across several major markets including San Francisco, Boston & New York.

After spending the majority of my career in the technology sector, I am continually amazed at the lack of technical innovation in the real estate industry. Simple automation tools that are taken for granted in corporate America like desktop faxing and data sharing between systems are nearly non-existent in the world of real estate. I often ponder this industry's complete dependence on faxes and the number of faxes required to complete a transaction.

I am considering a number of tools to link buyers and sellers and facilitate transactions, sure beats complaining about the ongoing pain of entering listings into two MLS systems here in SW Florida because our local boards don't communicate very well.

Internet Entrepreneurs Will Take Control of the Real Estate Industry [Business Wire]

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