It pays to 'B Square' ~ Why Real Estate is Bound to be Different Soon!

Recently, I got a little card in the mail. It was an invitation to get a Free Square Card Reader. Here's what the card said...

Now, it's simple to accept credit cards

Easy to use.

Plug in the free card reader to accept credit cards on your iPhone, iPad or Android

No hidden fees.

Just 2.75% per swipe. No commitments, minimums or monthly fees.

Get paid fast.

Square deposits the money directly into your back account.

Get your Free Card Reader.

Wow, it wasn't too long ago that I got my first credit card processing system through my local bank. The process involved several hours of training and processing to get me signed up. The equipment consisted of rolls of paper that needed to be properly fed through a processing machine and stacks of paper to process cards when I was unable to connect to a phone. The reader and the manual system was so large, it required a large bag to cart my stuff around.

Then there were the fees for all the equipment PLUS the monthly fees regardless of if I processed a transaction or not AND of course the per transaction fee.

And now,less than a decade later, a Square Reader will enable me to create and process a credit card transaction with a Free, Simple, Mobile devise.

Makes me wonder about real estate and what the next decade will bring. There have been some remarkable signs of progress already. Today, a tech savvy agent can download a extensive data analysis, e-mail and electronically sign the real estate transaction forms and forward them to all parties without ever handling a piece of paper. But, the process remains fragmented. But, there are still a number of aspects of the real estate process that are NOT easy.

For instance:

*Data is often inaccurate online - including information on price and availability

*It may be hard to determine WHO actually listed the home or if they know anything about it.

*It can be a hit or miss when hiring an agent - are they experienced, do they know the area?

*Product review are hard to find...on agents and on the houses they sell.

*Mortgage process is convoluted and changes frequently without advance notice.

There must be an EASIER way to create a seamless real estate transaction. One which allows agents to do their jobs and clients to get what they want. There should be a simple breakdown of EXACTLY what the fees charged during a real estate transaction are being charged for. There should be easy to choose different options for service which can be downloaded at the click of a button without having to listen to a lengthy presentation. Valuation of property should be clearly understandable and the mortgage process transparent.

I am becoming increasingly convinced that there will be a day, in the not so distant future when a 'SQUARE' equivalent will become the method of choice to conduct a real estate transaction. As for how things still largely function today...It's a matter of IF the industry as it exists today will be a part of progress or become relegated to a relic of the past.

image credit on flickr

Lola Audu, CRS, GRI e-Pro ~ Audu Real Estate

Lola Audu, is the Designated Broker & Owner of Audu Real Estate. Our company specializes in helping people buy and sell homes in the greater Grand Rapids, West Michigan area. You can contact us via e-mail @ info@auduhomes.com or by phone at 616-791-0511. Thanks for visiting our blog. Here are links to some of our most popular posts for you to enjoy!

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