5 Takeaways from Inman Connect NY

The GAAR and SWMLS Boards are always on the lookout for future technology and industry trends that will impact the membership now and in the years to come.

That’s why events like Inman Connect are important to attend. The real estate technology conference is a great overview of everything currently happening or that might happen to real estate.

Here are five things to keep an eye out for in 2017 (and beyond).

1. Big Data is…well, big

If there was one buzzword (buzzwords?) at the conference this year, it was big data. But what exactly is big data and why is it important? Well, think of it this way - more people are using the internet than ever before. Based on their habits, their interactions, etc. there is a whole store of new data that is available to help companies make better decisions. Companies like MyPlanit are taking that data from multiple sources to help you better understand and track your life patterns to make your day-to-day easier to manage.

2. The bots are coming! The bots are coming!

A lot has been said of bots in the last year, and with good reason. Lots of technology is coming out that will be powered by AI (artificial intelligence).

One example shown is the rise of Chatbots. Chatbots are a chatting interfaces hosted on your website that interact with visitors based on actions they take, no human required! An example of this in practice would be if someone was searching a mortgage lender website and a chatbot popped up and asked if they needed help with anything. The user could type a question and the chatbot could answer basic questions without someone on the other end.

There was also discussion on future possibilities with AI. What if Amazon's Alexa could talk to you to you and ask you a question before you prompted one? "I see you have a meeting downtown, would you like to preorder a latte at the coffee shop nearby?" Exciting times!

3. Virtual Insanity

One of the hot new trends in real estate is utilizing VR (virtual reality) in listing marketing. VR is gaining popularity with consumers with headsets like HTC Vive,  Oculus Rift and Samsung Gear VR being sold more frequently. New York Times sees this trend growing and has created the Daily 360 to showcase the technology to early adopters. Expect to see VR popping up more in real estate, as REALTORS® can utilize the technology to show their listings in new and exciting ways.

4. Mobile and Video are (still) King

It comes as no surprise that mobile use is still growing. In fact, as an industry, real estate sees more mobile activity than most (make sure your website is mobile-friendly!) But don't completely count out desktop devices like PCs and laptops, those are both still growing as well, just at a much slower pace than mobile devices.

The power of video was discussed a lot during the conference. Online video viewing only continues to grow which is why it is such a great way to reach your clients. It is a way to make an emotional connection with people that technology like texting or e-mail just can't accomplish.

If you're camera-shy, don't sweat it! Steve Pacinelli from BombBomb emphasized that it is more important to simply utilize video in your social media and marketing versus focusing on every video being "perfect." Look directly at your smartphone camera, go unscripted and most importantly just be yourself.

5. Stand Out with your Brand

A lot of the conference was dedicated to discussing brokerage branding techniques. Arizona's JK Realty founder Kala Laos shared some ideas on how to create a contagious real estate brand .

  • Be a visionary
  • Build a tribe (idea: create a wearable brand)
  • Social currency (idea: welcome video for new brokers)
  • Establish an appreciation matrix (idea: acknowledge your brokers and their accomplishments)
  • Bring a "wow" factor (ideas: no private offices, kid-friendly office)
  • Focus on progress, not perfection

Speaking of branding, be sure to sign up for GAAR's first Marketing Workshop - Check yourself before you wreck yourself! Business Etiquette Best Practices taking place on Wednesday, March 1st.