For this project, I have chosen real estate office regional management as the focal professional career. Technology has come to encompass many of the modern trends that surround both commercial and residential real estate. Prior to the convenience and use of internet platforms and applications, home or commercial real estate listings were predominantly promoted and marketed via print, such as real estate guides or newspapers. Technology has come to allow the promotion and overall sale of real estate to streamline through the process by reaching a wider targeted and available audience, and simplifying the purchase process. A prime example of technology impacting this field is the MLS (Multiple Listing Service), which is an online database that details every form of real estate currently on the market, whether listed privately or with a brokerage firm.
The role and responsibilities of a real estate office regional manager regarding business intelligence implementation revolve greatly around what technological advances now provide in this industry. Online information, such as through the MLS, can indicate trends in the real estate market, as well as provide indications to property value fluctuations – one area of a town or city may be selling for higher than another based on any number of contributing factors. A manager often oversees much of the service promotion and marketing for a real estate office. Thus, keeping up on data and information for what methods, such as social media, may be advancing in utilization would prove key to their responsibility within the regional manager position. Another aspect to consider, would be in the form of internal network programs, which would consist of company contacts, sales and current transactions within the real estate office. Technological advancements allow for more secure and organized data, which also helps with security and compliance, which on both a State and Federal level, is very strict in the real estate business.
Considering these factors of technology and business intelligence implementation, as they pertain to real estate office regional management, there are several key areas of technology that this profession would focus on. Foremost, the marketing and promotional methods of both property listings and real estate services provided through the use of technological advancements like the MLS, social media and other online portals would be a focal point of a successful manager. An intricate understanding of how to use these marketing and promotional methods is imperative to a real estate office’s ability to maintain clientele and overall operation.