Technology is not culture

The distinction between technology and culture is crucial in the real estate and property industry, as firms often conflate the two when trying to drive efficiency and growth. A recent example from the mortgage industry illustrates the importance of this distinction. By prioritizing transparency, a company was able to significantly cut non-sales costs per loan while also increasing pay for originators.

This achievement is notable because it highlights the impact that cultural changes can have on business outcomes. In an industry where technology is often seen as the primary driver of innovation, it's easy to overlook the role that company culture plays in shaping how technology is used and its ultimate impact on the business. By focusing on transparency, the company in question was able to create a culture that emphasized efficiency and fairness, leading to cost savings and increased originator satisfaction.

As the real estate and property industry continues to navigate a rapidly changing landscape, it's worth watching how companies prioritize culture and technology in their pursuit of growth and efficiency. Will firms focus on implementing new technologies, or will they also prioritize cultural changes that can help them get the most out of their tech investments? The experience of this mortgage company suggests that the latter approach can yield significant benefits, and industry leaders would do well to take note.

Originally reported by housingwire.com. ASIDNews adds analysis for real estate & property readers.