As a part of our ongoing series, Conversations with Our Parents, we explore real estate experiences within 55+ communities, a vast group of people spanning three generations. I belong to Gen X (born 1965-1976), and I also work with a number of Baby Boomers (born 1946-1964) and Silent Generation clients (born 1925-1945), as well. What an evolution of technology our generations have witnessed in our lifetimes; technological advances permeate all facets of our lives, and real estate is no exception. As a Realtor® and Senior Real Estate Specialist, technology is a topic that comes up again and again.

Technology permeates all facets of our lives and real estate is no exception.

As we discussed in my previous blog post, three out of four adults aged 55+ own their own homes and two thirds of all wealth in America is held by this same group. I think it is fair to say that the topic of real estate (or housing, if you prefer) is top of mind for many 55+ adults. But how we experience real estate may vary widely. 

Many of my clients recall a time when, as a homebuyer, they met with a Realtor® at their office and perused the available listings of homes in a big book of listings that was issued monthly. Access to the inventory of available homes happened only one of three ways:

• The MLS Listings Book/local print advertising 
• Driving past a “For Sale” sign
• Word of mouth

At that time, all real estate was truly local.

Technology Opened Up the World of Real Estate

The overwhelming majority of home listings are now viewed on the internet through access to MLS websites and third-party sites like Zillow and Realtor.com. As a Seller, this means that your home can be seen across many platforms and areas in an instant. And as a Buyer, you can peruse homes for sale from Australia to Alaska from the comfort of your home.

There are different technology comfort levels within the 55+ population and a good real estate agent will meet you where you are most comfortable.

While internet browsing of real estate is hugely popular with some generations, I have a number of 55+ clients who don’t own a computer or a smart phone.  They are most comfortable with face-to-face conversations and phone calls. With so many different levels of comfort with technology within the 55+ population, I have found that no two clients have the same real estate needs. My goal, as your Realtor®, is to meet you where you are most comfortable, whether that is sitting at the kitchen table or communicating by text and anything in between!

Real Estate Tech Primer

Regardless of your level of technological skill, the current world of real estate will expose you to myriad new technologies. It is my job to help make sense of these platforms to meet your real estate needs. Here is a quick primer on real estate technology:

The Hardware

• Smartphones: According to a study by AARP, 80% of people between the ages of 50 and 69 use a smart phone daily and 70% of people over the age of 79 use one. 

• Tablets: Tablets, a larger version of a smart phone typically with less phone call features, continues to gain in popularity among older adults. 50% of adults ages 50-69 own and use a tablet daily. The larger screen makes tasks easier to see than with a smartphone.

• Laptop or Desktop Computers: Those over 70 are more likely to use a desktop computer than a smartphone, and these uses tend to be for more practical tasks such as banking, internet searches for news and info and making online purchases.

The Sources of Real Estate Data

• MLS: Multiple Listing Service (or MLS) is the platform where Realtors® list homes for sale in a common shared location accessible to other Realtors® and available to the public through customized searches created by your Realtor®. This is the epicenter for all data and the source from which third-party sites (like Zillow and Realtor.com) get their information. In order to get listings directly from MLS, you should reach out to your Realtor® and have us set up a search that matches your needs.  Each time a new listing hits the market within your search criteria, you will receive an email alert with the new listings. 

• Third-Party Sites like Zillow and Realtor.com: These sites pull their data from a variety of sources, so the data can lack timeliness or accuracy, so keep in mind that the best information is gained from your Realtor® through an MLS custom search.

• Social Media: Social Media hosts a variety of sites including Facebook, Instagram, YouTube and TikTok which offer a bounty of information including house tours, videos about the housing market and more.

• Brokerage Websites: Websites like homesbyconnectrealestate.com can connect clients with all sorts of resources including search bars to find specific listings, information about communities and blog posts like this one which explore a variety of real estate topics.

Technology and the Home Seller

• Internet Platforms: Now that the internet is the primary way that homebuyers are finding your home, your Realtor® will encourage you to sign an exclusive listing agreement which gives us the power to list your home on the internet through MLS. Statistics annually prove that homes sell at a higher price and in a shorter time when listed on the MLS (as opposed to attempts to sell “For Sale By Owner” or elsewhere) Leave it to your Realtor® to list in MLS and it will automatically syndicate to Zillow and other sites. You can even track the number of people who have viewed your listings online!

• Professional Digital Photography, Virtual Tours and Drones: High-definition photography is more important than ever. Professional photography presents best online and will help a home buyer feel as if they are personally touring your home.

• Electronic Document Signing: Throughout the process of buying or selling a home, there are multiple documents that will need to be signed including Listing Agreements, Disclosures, Purchase & Sale Agreements and Closing Documents. Most of these documents can be signed without the need for wet signatures and notary publics. There are a few documents such as a deed which do require in-person notarized signatures, but otherwise, there are multiple signing programs that allow a Buyer or Seller to sign documents online. These programs include DocuSign, DotLoop and Authentisign, which is the one that I use. They are user friendly and extremely convenient!

• Electronic Closings: Ever since Covid, closing attorneys and title companies adapted to a new model of closing real estate transactions. Far fewer attorneys conduct closings with all parties in the same room at the same time.  Most closing attorney prefers to have clients sign the bulk of the closing documents ahead of time, especially the deed. By the time closing day arrives, these attorneys have had Buyers and Sellers sign a limited power of attorney that allows the attorney to sign the final closing disclosures. It does feel a bit anti-climactic, but it gets the job done.

Any tech challenge can be overcome with the personalized assistance of an experienced Realtor®.

I encourage you not to feel daunted by real estate technology. The landscape has certainly changed, especially post-Covid. For the most part, it is user-friendly and convenient. But if you feel anxious or overwhelmed by the thought of it, let your Realtor® know! Almost any tech challenge can be overcome with personalized assistance over a cup of coffee or a phone call to discuss your concerns.

Katy Donovan, SRES® Designee, is the Broker/Owner of Homes By Connect and The Donovan Group in Portsmouth, Rhode Island.