RISMedia's Real Estate Magazine

NOV 2014

Real Estate magazine is the industry's leading source for real estate news and information since 1980. Published monthly by RISMedia, Real Estate magazine offers timely and relevant real estate news to the industry's top brokers and agents.

Issue link: http://remag.rismedia.com/i/402040

Contents of this Issue


Page 119 of 142

RISMedia's REAL ESTATE November 2014 115 There is growing evidence to sug- gest, however, that millennials might be anything but a drag: they might be primed to send a housing market al- ready gaining momentum from sus- tained low rates and a steadily im- proving economy to really take off. In a study that took place this summer, Chicago-based BMO Harris Bank found that about three-quarters of millennials are already planning on purchasing a home within the next fve years. Nearly four out of 10 mil- lennials plan to do so within the next two years, and 15 percent in the next year. In the context of a market that is steadily heating up and showing signs of even more signifcant growth in the near future, new technologies and new effciencies—like those available through zipLogix's compre- hensive suite of streamlined digital solutions—will be more important than ever. New Buyers and New Opportunities With a potentially large number of new and different buyers coming into the market without preconceived notions of how the home-buying process works, this is an ideal op- portunity for our industry to step for- ward and make the process faster and easier for everyone involved. It is all the more important because millennials expect to operate in a mobile/digital environment. This is a generation with high expectations for speed, service and technical savvy. New Effciencies With increased volume, it is critical to be able to perform as many trans- actions as quickly as possible. zip- Logix products allow key documents to be signed without ever leaving the offce, to have multiple transactions going on at the same time, to be able to close quicker and have com- pleted and verifable documentation, and to avoid the headaches and de- lays of snags and disputes by quickly resolving potential conficts with the powerful and proprietary security and tracking functionality that is an inte- gral part of the system. New Hiring and Training Protocols Historically, most industry training takes place on the fy: in the midst of a transaction. Today, however, zip- Logix has created a vast library of on-demand training videos available online to help new hires get up-to- speed quicker. Additionally, Help and Wizard functionality baked into the software itself provides critical re- sources to walk users through spe- cifc tasks. New Standards for Accuracy With more data being introduced into the system, handling that informa- tion and reducing errors is vital. With zipLogix digital solutions, MLS data is pulled directly into zipForm, and lo- cal, regional and national data fows not only out, but also in, to ensure that all forms are as up-to-date as possible. Consequently, the need to retype and reenter data is substan- tially reduced or eliminated, both lightening the workload and reducing the potential for error. RE Lisa Mihelcich is COO, zipLogix. W hen the U.S. Census Bureau announced earlier this year that only 36 percent of Americans under the age of 35 own a home (the lowest level since the early 1980s), it was easy to jump to the conclusion that the absence of the much-discussed mil- lennial generation from the pool of new homebuyers might be a drag on the housing market. Millennials: Growth and Opportunity Technology critical to helping a new generation buy homes Commentary by Lisa Mihelcich

Articles in this issue

Archives of this issue

view archives of RISMedia's Real Estate Magazine - NOV 2014