The cloud… It's mysterious and intimidating to some. But to others, the cloud is a symbol of endless opportunity. And just in case you’re unfamiliar with cloud-based software, all it means is that your services are run through the Internet rather than a device sitting near your computer. Think of your smartphone, laptop or even apps — all were a huge benefit at the onset of the COVID-19 pandemic during stay-at-home quarantine orders. It’s difficult to work from home when you can only work on your office desktop, right?
If you’re new to adopting cloud-based technology, just know that embracing it will 100% be worth it. A majority of the current and upcoming technologies are cloud-based, and demand is only increasing. However, this update leaves many brokerages who put off tech adoption in a difficult spot. The question remains, how long do they have before they’ll be left behind by updated systems? Cloud-based is the new normal, and here are a few reasons why it’s impacting the real estate industry so strongly.
Access information from anywhere
We touched on this issue above, but on-site technology is such an obstacle in the workflow. With today’s reliance on remote work, tech that’s only accessible on an office computer seems pretty outdated. In addition, real estate professionals are always on the move. Really, they need the ability to share, download and access information from anywhere, which is a reality when it comes to the cloud. It creates the ability to be flexible and manage their real estate business in a mobile fashion. What does this mean at the brokerage level? An increase in productivity and the bottom line.
There are far fewer technology issues with the cloud
The office setup is honestly a nightmare for anything related to technology compatibility, especially for real estate professionals working on a timeline! Just think about all the times you couldn’t open a file due to a different operating system, or the time you wasted making copies because there was no other way to transfer to them from a device. Cloud computing is a solution for all of those challenges from compatibility issues to operational work because as long as you have access to the Internet, everyone can view the same documents.
Cloud-based is already disrupting areas of real estate
Here’s one way you know the cloud has disrupted the real estate industry — cloud-based brokerages are exploding in popularity. According to the 16th edition of the Swanepoel Trends Report, virtual brokerages are one of the most crucial trends. In this brokerage model, thousands of professionals connect through a virtual office. This format creates an environment that is always available, creating internal collaboration and easy business expansion. All of which is enabled by the cloud.
Increased security and storage
Real estate professionals deal with incredibly personal information, especially when storing PII from residential real estate clients. The cloud offers enhanced security because the information is not secured on site for hackers, disgruntled employees, robbers or even disasters. At the same time, a large data center — that’s designed to host secured information — has much stronger cyber security measures than you could create for your business.
Cloud-based is more efficient and cost effective
When the pandemic began, the real estate industry had to evolve to meet the changes. Obviously, we saw a switch to virtual showings and less in-person occurrences, but it also led to the reliance on digital tools to get the job done. Real estate transactions went largely digital in 2020 to avoid in-person contact. And while the technology was previously available, the pandemic really allowed the industry to utilize these services. Platforms like DocuSign streamline the transaction process and execute closings in this digital format. When clients can access DocuSign and close on a property from their phones, it’s hard to see them going back.
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