clear
Tuesday September 19th, 2017 7:50AM

Norton: Technology is changing real estate

By Alyson Shields Reporter

The future of real estate is changing, including the technology used to buy and sell homes, a local real estate expert said Monday morning on WDUN's Morning News with Bill and Joel.
 
Frank Norton Jr. just returned from the Inman Connect Conference last week and brought back five things he said will change real estate.
 
Technology is changing every day and Norton said soon, roughly 90 percent of a real estate broker's job will be done by a machine
 
"It's going to have predictive analytics about what a seller might take, or what a house might be worth. A little more hyper than the Zillow Estimates or Zestimates, but the average real estate agent will have these new tools."
 
Norton said this technology won't replace a broker, however. "The real estate broker provides that human interaction, the negotiating, being able to understand the nuances of that technology and of a neighborhood, which a machine won't be able to do."
 
In the meantime, Norton said those Zestimates aren't very accurate, though they are improving. The information is formulated mostly from tax rolls, Norton said.
 
Norton also said the processes would speed up. "Transactions are going to be faster. It used to take 90 to 120 days to close a house, you're going to see it compressed down to 30 days over the next five years."
 
Augmented reality, including using 3D, virtual reality and drones, will be used to visualize a fully furnished home or allow you to see a home in photos at eye level, Norton said.
 
Lastly, Norton said he took something said at the conference to heart. "If you have an idea that's a 20th century idea and you're using it today, you're doomed," Norton recalled. "For example, open houses. We've seen a decrease in the number of people who come to Saturday and Sunday open houses... you can actually see that house now in 3D or virtual reality online... so I think it's all part of how we must evolve as an industry."
 
Norton also stressed maintaining relationships with customers and the neighborhood, as well as being visible in town and understand "what's really happening here" as the keys to keeping up with the changing industry.
 

  • Associated Categories: Homepage, Business News, Local/State News
  • Associated Tags: gainesville, hall county, real estate, Frank Norton Jr., WDUN Morning News with Bill and Joel
© Copyright 2017 AccessWDUN.com
All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
Norton: Technology is changing real estate
The future of real estate is changing, including the technology used to buy and sell homes, a local real estate expert said Monday morning on WDUN's Morning News with Bill and Joel.
7:40AM ( 3 hours ago )
ExpressJet to end service as Delta Connection carrier
A longtime Delta Connection contract carrier based in Atlanta will soon part ways with Atlanta-based Delta Air Lines
10:31PM ( 12 hours ago )
Report: Georgia a dumping ground for solid waste, coal ash; Banks Co. mentioned
Georgia has become a Southern dumping destination for solid wastes including coal ash, and more is on the way, according to a report by the Atlanta Journal-Constitution.
6:00PM ( 17 hours ago )
Business News
Authorities confirm wreck that killed Dawson County coach happened in Forsyth County
​Forsyth County authorities Monday morning confirmed information that had been circulating throughout the region over the weekend, the traffic accident that claimed the life of a Dawson County High School coach happened on Georgia 400 Saturday morning.
10:56AM ( 32 minutes ago )
GDOT: 53,000 motorists expected in NE Ga. mountains for solar eclipse
An estimated 53,000 drivers will travel to the most northern counties in northeast Georgia for the Aug. 21 solar eclipse, according to the state Department of Transportation.
9:00AM ( 2 hours ago )
High school football is back! And THE SEASON STARTS HERE!
It's GAME WEEK, and our Friday Game Night section is ready for the 2017 high school football season in northeast Georgia!
7:43AM ( 3 hours ago )
Local/State News
Transportation planners approve funding for South Hall trail
Planners with the Gainesville-Hall Metropolitan Planning Organization (GHMPO) are moving ahead with funding for a trail connection study for a trail winding its way through Buford, Flowery Branch and Oakwood as part of the larger Highlands to the Islands trail system.
1:00PM ( 1 day ago )
Four projects, including I-985 widening, added to GHMPO long-range plans
Four projects, including the widening of I-985 between the I-85 interchange and Mundy Mill Road, have been added to the long-range plans of the Gainesville-Hall Metropolitan Planning Organization (GHMPO).
11:55AM ( 5 days ago )
White Sulphur Road sewer installation complete, road reopens
The portion of White Sulphur Road that had been closed as crews installed a sewer line in the area is now open once again, officials announced Friday.
4:14PM ( 1 week ago )
Deputies: Buford man fled traffic stop, 'narrowly' missed hitting deputy with car
A Buford man is facing a total of 10 charges for allegedly fleeing a traffic stop, nearly hitting a Hall County Sheriff's deputy in the process.
11:19AM ( 1 week ago )
Gainesville City Schools pumps up teachers with back to school pep rally
Cheers erupted from the Gainesville High School gym Tuesday morning, even though students don't return to campus until Wednesday. The cheers came from the teachers of all of the Gainesville City Schools as they gathered together for a pep rally before the first day of school.
12:00PM ( 1 week ago )