I don't think it is overrated.  I do think it is overused.  Some agents rely so heavily on technology and social media to solicit and perform their business, they don't get out among the people... the people who actually buy and sell real estate.  

I think if newbies are lead to believe that technology and the next shiny thing alone will actually bring them business without the requisite knowledge and relationship building skills, then, yes, it is overrated and overused.  Used in conjunction with the basics, though, technology should only be seen as a great tool, not a way to build a business.  Not sure every one gets that message.

NOTHING beats great service. You can have all the technology in the world and if you offer bad service you will not succeed. Many of the big national folks stress numbers but a leave a mass of unhappy clients in their wake all telling their friends about their experience. 

Susan Laxson You hit the nail on the head in your explanation under the question.  The established agents with many years in the business get most of their referrals from past clients.  For some it is 95% referrals from past clients.  Many do not feel comfortable with technology & social media. 

Those who are new to real estate or new to the area need technology and social media.  Good luck.

I don't believe technology is over-rated... I don't think we can survive in this business anymore without it. Social media... that's a whole different can of worms... and it works for some people and less so for others.

It does have to be balanced with good old fashioned friendly service.  At least I think so.  Top agents generally have built teams and such over the years.  How top agents are defined is an issue with me.

Susan,
My short answer is that this is a people business. Unless technology and social media have a “direct” impact on you working with more people, they can be a huge waste of time.

To a point...we have lost much of the personal touch and service

Susan,

We were in Naples twice this summer to work with two of the top agents in different section of Naples.  (we never work with a competitor of an agent). We research the competition inside and out.  We do create a web site for our clients, but the strategy that is most important is the face to face one as it related their nich or farm.

In the very beginning when the IDX was shared, it was very effective to get business.  With everyone doing the same thing, market reports, listings, etc, how does a seller or buyer find you in the forest of information and misinformation that the Internet has plenty of?  In some small markets social media is effective to some degree.  But it is not the end all be all!  Have a great weekend!  A

No. I don't believe that technology and the use of social media is overrated for use in our real estate business.  Times have changed so we need to keep up with what the consumer expects from our marketing and business models.

Use technology as a catalyst to be more efficient and organized. Adopt social medai as it fits into your schedule, don't be consumed by it. The jury is still out on the benefits!

We need both and be better at using them wisely.

Susan technology  is in every facet of our business now..DocuSign, Apps etc. Social Media is important but establishing relationships is still the name of the game! You have to be recognizable and people need to learn about you and then keep you top of mind! It's all integrated!! You can't do one without the other.

Not in this day and age.

The average U.S. adult spends 11 hours each day in front of a screen. This number is increasing year-over-year, and with every rising generation.So, we should pay attention where our clients spend the most of their online time. 

I think it depends on your target audience, your niche. You have to be where they are.

Susan - Excellent question. I would say that technology helps us do our business faster, but most of the time everything can still be done with pen and paper. It really depends on what you are comfortable with, and what your clients will expect.

As far as social media, it can work both ways. Many successful agents do nothing in social media and socialize and interact with past clients, of which they have many, on a regular basis. They get all of their business through referrals, are very well known in their respective area, and do not need social media. Why change if what they do is working.

However, like others have suggested, if you don't have hundreds of former clients, where do you find your business. Social media can help with that, although I would still take face-to-face interaction, or a referral, over getting an email request from a stranger any day. It is just very difficult to find home buyers and home sellers these days, so a lot of agents are trying to capture them through the Internet and social media.

Either way, it takes a lot of time and hard work to find the business, and agents should do what works for them.

Susan, I see some top producers with no presence on social media either, but they are seasoned with years of business.     I think we need technology, but not sure about spending hours in social media. 

Good morning Susan. Social media is definitely not overrated for me. That is the one of the reasons I blog on a daily basis.

Susan Laxson - I know some top agents who are not active on Social Media at all!

It's a contact sports - and how we do it is up to us.

I do believe, like you, Social Media is over-rated.

Can't say the same for Technology though - that's the tool we all use to save time, money and energy.

No, it's just another work in progress that we have to adjust to.  Like going from letters to email.

I will answer simply, no and no.  You have to be where your clients are, and they are online and in social spaces. 

Double edge thing,  very important to get out and meet people but also get the word out about you on media.

My goal is balance.  I acquired 3 listings in 2 months by starting a farm area.  I will continue to farm.  I will set up a program for FSBO's, but I like it also when I get a call because they found my listing on Trulia or a blog, etc.  I plan to schedule a day each for blog writing, facebook and for being out physically meeting people and building a greater sphere of influence. 

I do not feel technology is over-rated ... however I feel it can be overused. As for social media ... yes overrated in my book!

Overrated by some and underated by others

Some of the highest producers in the area do not use social media and are very limited in their technology skills.

Others do well because they know how to use these tools.

JMO, Susan Laxson ... but I don't think our marketing can be an all or none thing.  All our marketing eggs shouldn't be in just one basket.  I've seen this with newbie lenders too.  They have no database upon their arrival .. no idea of where or how they'll find business.  They think social media and the internet will "deliver" it to them.  While it's a great tool, it can't be their only marketing outlet ...

Gene

Technology, it's needed.  From the MLS to bluetooth lockboxes, it's here to stay.  Websites and social... expected by clients.  They expect to be able to share their agent's post about their listing/open house to all their friends.  Maximum exposure.

no, it's not overrated....but it DOES and SHOULD be complemented with offline marketing....

Its not overated. Technology is constantly changing and we are constantly evolving to meet clients needs.

Can some agents fall into a trap of relying too much on social media...absolutely.

These SM are overated in RE.  The person in our area got his 500K points by having every agent (He was a FT regional trainer responsible for 1000s agents) sign up at AR.  

He stopped his blogging activity going back to his SOI and farming.

Technology - Docusign, GoToMeeting, etc - very useful

Social Media - not convinced

Not in the future.  I'm not sure about technology, but online marketing will be increasingly important as more people go online to research their purchases.  I used to not be a high tech person, but I have a smart phone and I now tend to google many things before purchase.

If someone is new to a community and new to the career of sales landing in real estate off Plymouth Rock, depending on the level of clientele they would like to manage, for a strong start technology could be the only answer.

No. Technology and social media are becoming even more important.

There's nothing more important in this business than face to face.  That said, if you're a newbie and don't have that pool of business to pull from, you better get your butt on social media and technology.  

Neither Amanda or I are from Fort Wayne originally, so when we started we used Active Rain and Facebook to get in front of people.  Most of our business came from these channels.  

Fast forward to today and it's a 50/50 mix between social media and referrals from our sphere.  

We have agents in our office that have been doing it for 35 + years and they don't even know what a blog is, yet they sell three times as much as we do.  It's all relative.  

Sorry for the long answer!  

Only if you plan to fall into the sea of sameness 

We have made it busier....Thing is, it works without busier and always has

It's not overrated, but some people don't use it properly or haven't gotten around to using it to its full advantage. It can be overwhelming with all the different types that are available.

It is all about balance.  In real estate and in life.

Susan Laxson You will never beat face-to-face networking. Since a great number of people do rely on the Internet, it doesn't hurt to have an Internet presence be it social media, web site, etc.

RE is a people business but we have to keep up with the ever changing social media marketing too. 

I think it is important to do both types of  contacting prospects.

I believe technolgy is very important . It makes our lives easier. I do not do much on social media except Active Rain .

It is and it isn't. It is now the nature of our society to be present electronically and virtually. We also need to be physically present and connected, while having the tools and skills to work within the matrix. Can it all be done with excellence from behind the curtain, a la Wizard of Oz? No.

A definite no on that.  It truly makes my job easier.

You can't be invisible or a "Secret Agent". Being on the web is an important factor. However, we know many who have been in this business a very long time and have no internet presence at all. They rely on their past clients...