Embracing technology is key to the real estate industry’s success.

What’s the one thing that’s pushing boundaries, enhancing businesses and helping make data-driven decisions?

Technology.

In my opinion, every member who serves consumers in this industry has an obligation to better educate consumers and deliver the best experience possible. But that’s only one part of keeping this industry alive and thriving. I had the pleasure of asking BCREA CEO Trevor Koot for his feelings on the matter. Here’s what he had to say:

“I consider the value of REALTORS® in general. I ask hard questions like: will REALTORS® continue to have value in the future? I believe BCREA has a role to play to ensure that REALTORS® do continue to have value in helping consumers navigate the largest transaction of their lives.

But the onus is not just on BCREA. If I could suggest one thing for REALTORS® to consider, it would be to change the narrative on the impact technology will have on the industry. Those who have heard me speak know I talk about leading a proactive real estate sector; for too long we have been reactive. Well, the same applies to you. Don’t look at technology as threatening your business or existence. Look at technology as enhancing your services to make you even more valuable to the consumer. Embrace new technology, strive for ongoing digital literacy, understand the impact technology will have on the consumer experience, become a champion of data and know that change is constant. These efforts will not only set you apart, they will ensure your longevity. For you to be unique, you first need to exist at all.”

Use technology to educate Homeseekers.

Before we know where we can go, we need to know how we got here. Historically, data has been hidden behind closed doors. Clients relied heavily on agents for basic data, leading to a knowledge gap that resulted in uninformed decisions. Even now, information is kept to a minimum for the general public. This lack of transparency eroded trust and led to skepticism about the value of realtors.

Agents reveal information only when they’re certain they will secure a Homeseeker’s business. Even today, that is largely true.

The path forward.

This change can’t be one-sided. It must involve real estate partners, governing bodies and technology leaders who share the same vision of building industry trust and integrity. Unified collaboration benefits Homeseekers and reinforces the industry's role as the source of real estate truth. As the real estate landscape evolves, those who adapt and innovate will set new standards for excellence. By prioritizing client needs and maintaining high ethical standards, the industry can ensure sustained growth, trust, and enhanced value for all stakeholders in the years to come.