Choosing New Technology

November 7, 2017

Mike Kelly – Marketing Technology Director, Texas

Being a technology trainer, people are always surprised when I tell them that I am a technology minimalist. Let me explain; professionally I have no choice but to use all of the same technology that my clients use, however… personally, I only use the technology that I really need.

Now I am not suggesting that you should be a technology minimalist, however, what I am saying is you need to use common sense when deciding to add new technology to your business.

With so many options available, when it comes to real estate technology, it is more important that ever to make an informed decision when selecting which technology to use. Adding new technology haphazardly only wastes your time and money.

The first thing I do when considering new technology is to determine if there is truly a need for it. I simply ask myself, can I live without it? If the answer is yes or I hesitate, even slightly, I will most likely pass on it. If I feel that I cannot live without it, I will try to determine its value.

This part is really easy: does it save me time, make me money, or both? Saving time usually boils down to does it streamline or eliminate a current process? I really want to use technology that makes me more efficient at doing my job, so I can have more face-to-face time with my clients. As far as making me money, I’m not going to add or switch to a new technology, just to save money; I’m talking about really making a difference to my bottom line.

The final step, is to determine if I am capable of properly implementing and using the new technology. One of the biggest mistakes I see clients make is trying to implement new technology that is too advanced for them. If it is too difficult for you to learn, there is a strong chance that you will not actually use it and that defeats the whole purpose. Be sure to select technology that matches your technology level.

One last thing, absolutely no impulse buying! This one takes a little bit of discipline, however if you avoid making impulse purchases, you will be happier for it; not to mention having more money in your pocket! I’ll set the scenario for you: your brokerage has a speaker in for your monthly office meeting, who just happens to be demonstrating the next big thing in marketing technology. You watch the presentation and immediately you feel you must have it!

Of course, the speaker told you, “today only we are offering a discounted price”; please avoid the urge to buy at this point. My advice is to step away and give yourself some time to properly vet the new technology. If you decide to purchase it, I am pretty sure you will be able to get the promotional rate that was offered the day of your office meeting.