The Apple iPad was introduced by Steve Jobs this week. During and immediately after his speech, Bloggers the world over were dropping their 2¢ into the blogosphere about the iPad’s features, it’s pro’s and con’s, the likelihood of it ousting Kindle from it’s book reader throne, and so on. I’d like to talk about what the iPad could, can, and will do to reinvent the way Realtors practice Real Estate.
iPad is part of a new category of mobile device
It’s something between a smartphone and a laptop. Here are the important stats…
- .5″ thick
- 1.5 pounds
- 9.79″ display
- 10 hours of battery life
- Wi-Fi & 3G connections
To make a long feature list short we’ll just say that it is much like a large iPhone with Safari browser capability, iTunes, Video, Mail, the App Store, etc. It’s like a Netbook was supposed to be. It has the functionality of a laptop with the usability and portability of a smartphone, but probably better at doing both. It includes an accelerometer and a full touchscreen experience just like the iPhone. Here’s how I think it can change things…
Reinventing the way Agents practice real estate
1. Agents now have a useful, more intimate version of the laptop
Most agents use laptops in their office. Some even use them for presentations. Almost no one uses a laptop when they are out showing clients properties. At any level. An agent can use the iPad to quickly and impressively deliver and present information to their clients. You’re buyer wants to see the tax records on the house you’re looking at right now? Pull them up immediately on your iPad. It’s either in your hand or in your briefcase.
2. True mobility and paperless systems for all agents are within reach
There’s no need to go back to the office to look up additional properties for buyers. You can access CMA’s and listing statistics while previewing a seller’s home. Stay fully up-to-date on your social networks and get full, simple access to email, documents, and your CRM on the go. Paperless has been touted for several years in real estate. The iPad could actually make it happen. Apps with your state’s forms attached should begin popping up. Now just have your client sign with a flick of their finger and their contract is fully executed… email them a copy of the original document. *sniff* I just teared up thinking about it.
3. Video will be for everything, everywhere
Video is already a major player in the real estate industry. Still, very few agents are using it and even less are using it to truly differentiate themselves from their competitors. The iPad will skyrocket video use by agents, vendors, and consumers. Agents that do not utilize video will simply be left in the dust. Consumers better have access to your listing presentation, buyer presentation, video home tours, and neighborhood tours on your website, video sharing sites, iTunes, or all of the above. They’ll be browsing homes and Realtors relaxing in their easy chair after dinner.
4. iPad will bring the use of technology and social media to the masses
Meaning, the masses of real estate agents that still aren’t using today’s systems to stay efficient and relevant. Imagine Realtors easily reachable by any electronic means through any media. Response time on
followup, deals, and inquiries will drop to near zero as agents become masters of multitasking. List a property and send out a new list of condos to your buyers at the same time. Create a new craigslist ad while hosting an open house. Yes, people do this with laptops and smartphones. This device and future devices like it will alleviate the barriers that keep everyone from doing it.
5. Instant access means instant gratification
What if you could chat live with your Realtor any time of day? Realtors that use a product like iPad (as well as their counterpart homeowners) will be there to convert the IEC (Internet Empowered Consumer) to a client because NOW is better than tomorrow, in an hour, or after lunch.
These are just a few ways that I see the iPad changing the inner workings of real estate for professionals. If the iPad holds true to its predecessors, it’s price will drop significantly over the next couple of years from between $499-$829 down to nearly everyone’s affordability levels of $199-$299. It will make instant, portable, usable access a thing of the present and subsequently change the way that Realtors provide services because of the way consumers find their information.
What other ways could you see the iPad or a similar next generation device transforming the way we do business?
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Great review and ideas, Ben! While I think the device has a long way to go, I like the way you’re thinking . . . it definitely looks like a great tool for any Realtor.
I’m not as sold on it as many others. There are a couple of reasons why.
First, this is not a laptop replacement. The specs are more inline with what you would see in a cellphone. There is speculation that the proc in the iPad will be the proc in the next gen iPhone.
Second, the OS will need to develop far more than the hardware will. The OS on this iPad is slightly bumped up version of your iPhone OS. One of the biggest flaws of the iPhone is the lack of multitasking. If you can’t surf the web, check email, look up tax info, and access your CRM all at the same time, are you really going to be saving time?
Third, hardware isn’t going to reinvent the agent. The agent is going to have to reinvent the agent. Yes, there will be plenty of agents who will find a way to incorporate this into their practice, but ultimately, it’s up to them to figure out how to do it. Everything you’ve listed above (showing tax info at a showing, going paperless, state forms online) are things that I’ve been doing for the last few months on my $600 laptop (and $30/month 4G network). However, I had to find ways to make the tools work for me.
I agree things will change drastically in the next 5 years for agents, but I don’t think it’ll be because of a single product. Customers demand we become more accessible and we’ll find a way to do it if we want to be successful. And along the way, we’ll pick up tools/toys to help.
Oh, and right now, Flash isn’t supported on the OS. YouTube has an app to play its videos, but more than likely your virtual tour company doesn’t have an app to play their Flash-created tours. That’s another big sore spot.
Currently I can access our MLS through my black berry and I have accessed it while showing houses. So far I our MLS has not released an ap for that. I would love to have a ipad but don’t think it can replace my computer or my blackberry . . yet I wouldn’t mind having one.
I think you’re probably correct that a lot of Realtors don’t use their laptops “in the field”.
I don’t think the barrier is the device, however. I believe it is speed and reliability of connectivity.
As connectivity and transmission speeds continue to ratchet up I think the use of a portable computer – be it tablet or traditional, will allow us to accomplish the tings you set out in your post.
Thanks for everyone’s viewpoints. Obviously, the OS and the hardware probably have a ways to go before the iPad has universal usability. My MLS doesn’t work on anything but IE so I won’t be using the iPad for that. But I could access all area homes through my website’s IDX very easily.
@John I understand the OS has a ways to go, but I don’t see the multitasking as such a big problem when most things are web-based and you can switch between pages with the flick of your wrist.
The argument for the iPad and devices like it is that they will most certainly continue to push the agent to become truly mobile.
I think it is more important than ever to stay on top of technology. My son, a new officer in the Army uses his Iphone for everything. He does not even worry about his laptop not working. A few of my clients use their smart phones for everything they do in their business and personal lives. One client told me he can not remember the last time he logged onto a desk top or lap top. I sell exclusively to lakefront buyers and they are usually educated, younger and very tech savvy.
Great article and review. I think the device will transform the way that we do business within the next few years.
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