A Field Trip On Advanced Technology

A Field Trip on Advanced Technology

Reasons or Purposes for Undertaking My Field Study

My field trip was done in the Real Estate field. I choose this because I am currently working in a real estate firm and I see on a daily basis the use of technology and how it helps our industry. I can also see the impact of what today’s world has done to our market and the changes that have taken place because of the economy and the advancements in technology.

Many changes have taken place in the field of Real Estate because technology has been consistently advancing. Just a decade or so ago the postal system and the fax machine were the fastest ways to get things done. In today’s environment we use emails and scans for the majority of written correspondences.

In the days gone by, in-person conferences were a daily ritual but in our fast pace world of cell phones and conference call the slow means have been replaced and it is now possible for people across the United States to purchase, finance and close deals without ever leaving their homes. An agent today can not live without a blackberry and a computer. I work daily with all of the available advances in Technology. I am constantly in different computer programs to help with daily activities for agents and the office.

I also use all types of office equipment to help agents actively stay in touch with their clients. Without the new world of cell phones, email, multi line phone systems and faxes it would take weeks to do what we can do in just a matter of hours. Our office also relies on the latest advancements in the coffee world to stay hip and alert daily, they help create a complex marketing structure.

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A Field Trip on Advanced Technology

Our main website feeds into multiple others such as Google, NMLS, and Yahoo. Our agents also have a presence under our main companies marketing plan as well as most of Face Book and Twitter. As our laws change, so does our Education to help stay current with all the laws and regulation. Our education is evolving in such a way that it includes; online and or the traditional methods so agents and potential agents can quickly get in the hours required yet at a convenient location.

FIindings of the Field Study

Introduction to the Real Estate Industry.

Property law is a branch of law governing various forms of ownership that gives a clear distinction between real property and personal property. Real Property encompasses the immovable assets which correspond to real estate that include land. Personal property includes the personal and movable property. (Oxford Dictionary of Law 4th ed., 1997).

Real estate is a term used in law to mean land and any other assets permanently fixed to the land, such as buildings, trees, minerals among others. It encompasses the immovable aspects of land. Regulations and rules that focus on the real estate are contained in the Real Estate Law. (Edge worth, 2004).

Technology Used in the Real Estate

In the real estate industry like in any other industry, technology has advanced through the years. Changes such as extremely first internet, the use of palm tops and laptops, cell phones, digital cameras among others have influenced the business of realtors and have helped them

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A Field Trip on Advanced Technology

serve their customers better. In addition to this customers have also embraced and are educated in the use of the internet and internet maps and databases to search information that relate to houses and other real estate properties.

The results from a research done by the National Association of Realtors in 2006, 80% of customers used the Internet and technology to find a home. Each and every day upcoming and already existing real estate firms are incorporating technology that has helped improve communication and access between realtors and their clients, and made the procedure of finding a house faster and more convenient.

In the previous times, the MLS (Multiple Listing Service) book which contains details on available houses, properties for sale and property to rent was updated only after a fortnight. This was very cumbersome for clients since they had to check openings on the classifieds columns of the newspapers.

Also the realtors had to go all the way to the location of the property on sale to pick up the house keys but recently there is the use of lock boxes where the keys are left.

Fast-changing Multiple Listing Service

Today the MLS listings are available on the internet and are constantly updated and are more time saving and allow agents to access at their own pleasure. The use of digital cameras has also made it possible for realtors to post photos o houses on the internet so that the clients can view the houses without actual visits to the site.

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A Field Trip on Advanced Technology

The use of physical lock boxes has also with time been replaced by the use of digital lockboxes where the clients and agents can enter details on the day, name of agent and time that the agent visited the home. To access this digital lock boxes the clients are issued with passwords which are nullified as soon as the day ends.

The use of fax machines has also positively effected on the real estate business. Documents that are faxed reach their destination fast so time is saved and original documents can be received. Emailing has also been adopted and this has significantly reduced deal closing times.

The use of web sites has also been an advantage to the realtors since they can advertise themselves online and issue email addresses that the clients can get back to them through.

Future of the Real estate Business

Technology is the most dynamic sector of any economy. For the real estate businesses the use of Paperless closings where no paper works is required to seal a deal. All deals and transactions are yet to be web cast where both parties sign documents electronically. Training and communication between clients and realtors could also be done electronically.

Does the technology seem to affect cultural and social interactions? How?

Technology has influenced life in both positive and negative aspects. Positively, technology has led to a more informed society, making responses to events faster; has made complex tasks less cumbersome; has increased the ability of multi-tasking and world wide networking; has created more concrete social circles; has led to more affordable prices and greater specialty in

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A Field Trip on Advanced Technology

occupations.

On the other hand, technology has set hurdles in life. This is because technology has led to increased pollution; congestion; new forms of dangers for example the creation of nuclear booms; poor academic performance due to distractions such as play stations; has led to health conditions such as obesity and eye problems; social divisions of remarkable human interaction; and unemployment. (Thorne, 2006).

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A Field Trip on Advanced Technology

References

Edge worth, B. et al, (2004) Property Law: Cases and Materials, 7th ed., Butterworth, Australia.

Lantolf, J. P., & Thorne, S. L. (2006). Socio-cultural theory and the genesis of second language development. Oxford, UK: Oxford University Press.

Oxford Dictionary of Law 4th ed. (1997), New York: Oxford University Press.

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A Field Trip on Advanced Technology