Center for REALTOR® Technology Web Log

CRT has just released their annual REALTOR Technology Survey. It is available to be viewed at www.realtors.org/crt. Some interest findings are:

• 54 percent of real estate brokers, sales associates, and managers who responded spent more than $1,000 on business-related technology in 2006. Not surprisingly, brokers were the big spenders, with half spending between $2,000 and $3,000 on tech in ’06. Half of all sales associates (agents and associate brokers) spent $501 or more last year. Spending was at approximately the same levels as in last year’s survey.

• 65 percent of respondents have their own business Web site.

• Respondents’ favorite Web sites to display their listings are REALTOR.com, the associate’s personal site, and the company’s site. Those responding found the Internet more valuable than open houses or floor time for generating leads.

• 64 percent communicate with past clients quarterly or more often. Phone and e-mail are the prime tools to stay in touch with active clients. Mailings and market updates top the list of ways to reach former clients.

• 94 percent use a CMA in their listing presentation, mostly relying on CMA software programs furnished by their local MLS. About 35 percent were either somewhat or very dissatisfied with the CMA program available. The ability to personalize design was again the area “needing to be improved the most.�?

• 72 percent used some electronic mapping application for business. The most useful applications for respondents were driving directions and outlined maps of neighborhoods and subdivisions.

• 38 percent of respondents’ companies have a written network security policy for staff, and 43 percent have a written policy for clients and consumers. About one-third of respondents did not know whether their company had written network security policies in place.