1. Technology Survey
National Association of REALTORS®
Research Group
2023

2. ©2023 National Association of REALTORS®
All Rights Reserved.
May not be reprinted in whole or in part without
permission of the National Association of
REALTORS®.
For reprint information, contact data@nar.realtor.
NAR Research Staff:
Lawrence Yun, Ph.D.
Chief Economistand SeniorVice President
Jessica Lautz, Dr.RealEst.
Vice President, Demographics and Behavioral Insights
Brandi Snowden
Director, Member and ConsumerSurvey Research
Meredith Dunn
Research Manager
2023 Technology Survey

3. Executive Summary
Highlights:
• Thinking back on the last 12 months, respondents found that
these technology tools used in their businesses were very
impactful: eSignature (79 percent), lockbox/showing tech (66
percent), and cloud storage (48 percent).
• Thirty-five percent of respondents agree that their Brokerage
provides them with all the technology tools they need to be
successful in their jobs, and 28 percent strongly agree.
• Ninety-two percent of respondents use Facebook in their real
estate business, 68 percent use Instagram, 52 percent use
LinkedIn, and 26 percent use YouTube.
• The top three tech tools that have given respondents (or their
agents) the highest number of quality leads in the last 12 months
were social media (54 percent), customer relationship
management (CRM) (36 percent, and their local MLS (24 percent).
• Respondents found that these technology tools provided by their
brokerage were very valuable: eSignature (67 percent),
Lockbox/Showing tech (53 percent), transaction management (45
percent), and video conference (40 percent).
• Fifty-two percent of respondents were not at all familiar with
Blockchain. Thirty-two percent of respondents believe that
Blockchain technology will have an impact on real estate in three
to five years.
• Fifty-four percent of respondents were somewhat familiar with AI.
Forty-four percent of respondents believe that AI currently has an
impact on real estate.
• Twenty-seven percent reported they were somewhat familiar
with the Metaverse/AR/VR. Thirty-six percent said they believe
that the Metaverse/AR/VR will probably have an impact on real
estate.
• Forty-one percent of respondents were somewhat familiar with
Sustainability Technology. Thirty-two percent of respondents
believe that Sustainability Technology currently has an impact on
real estate.
2023 Technology Survey

4. Most Impactful Technology
Tools Used in Business
• Thinking back on the last 12 months, respondents found that these
technology tools used in their businesses were very impactful: eSignature (79
percent), lockbox/showing tech (66 percent), and cloud storage (48 percent).
2023 Technology Survey
30%
35%
36%
43%
43%
45%
45%
48%
66%
79%
20%
19%
27%
27%
17%
23%
22%
20%
13%
7%
25%
23%
15%
14%
13%
13%
16%
14%
8%
5%
6%
4%
4%
4%
4%
3%
4%
2%
2%
1%
5%
4%
3%
3%
4%
4%
3%
3%
2%
1%
16%
16%
15%
9%
18%
13%
10%
13%
9%
7%
0% 20% 40% 60% 80% 100%
Cyber Security
Personal Safety
Digital Marketing Platform
Social Media
Transaction Management
Video Conference
Customer Relationship Management
Cloud Storage
Lockbox/Showing tech
eSignature
Most Impactful Technology Tools
Very impactful Somewhat impactful Neutral
Not impactful Not at all impactful Not used

5. Most Impactful Technology
Tools Used in Business
(Continued)
• Thinking back on the last 12 months, respondents found that these
technology tools were not at all impactful: open house software (10
percent), artificial intelligence (nine percent), and augmented reality (nine
percent).
2023 Technology Survey
7%
11%
13%
18%
19%
21%
28%
10%
11%
9%
20%
26%
23%
21%
17%
20%
14%
16%
23%
18%
16%
7%
10%
5%
8%
9%
6%
7%
9%
10%
8%
9%
6%
5%
5%
50%
39%
51%
30%
17%
27%
23%
0% 20% 40% 60% 80% 100%
Augmented Reality
Open House software
eNotary
Artificial Intelligence
Personal Website
Virtual Tours
Lead Generation
Most Impactful Technology Tools
Very impactful Somewhat impactful Neutral
Not impactful Not at all impactful Not used

6. How Technology Tools Were
Provided
• Among a list of tech tools, respondentssaid lockbox/showing
tech (32 percent)were provided by their MLS/Association,
customer relationship management (53 percent)through
their broker, social media (63 percent) was purchased by
themselves, and artificial intelligence (39 percent)was
freeware.
2023 Technology Survey
39%
25%
20%
19%
19%
16%
13%
12%
11%
10%
8%
5%
5%
5%
5%
4%
2%
30%
43%
37%
23%
63%
21%
56%
61%
50%
53%
48%
45%
38%
21%
28%
25%
49%
15%
25%
13%
23%
13%
33%
24%
21%
12%
17%
34%
40%
51%
54%
53%
45%
15%
7%
3%
5%
9%
2%
14%
3%
2%
14%
7%
2%
5%
3%
13%
11%
24%
32%
0% 20% 40% 60% 80%
Artificial Intelligence
Video Conference
Augmented Reality/Virtual Reality
eNotary
Social Media
Open House software
Cyber Security
Cloud Storage
Personal Safety
Virtual Tours
Lead Generation
Digital Marketing Platform
Personal Website
Transaction Management
Customer Relationship Management
eSignature
Lockbox / Showing tech
How Technology Tools Were Provided
My MLS/Association My broker Purchased themself Freeware

7. Brokerage Provides
Technology Tools Needed to
be Successful
Strongly
agree, 28%
Agree, 35%
Neither
agree nor
disagree,
22%
Disagree, 11%
Strongly
disagree, 5%
Brokerage Provides Technology Tools Needed
to be Successful
• Thirty-five percent of respondents agree that their
Brokerage provides them with all the technologytools
they need to be successful in their jobs, and 28 percent
stronglyagree.
• Twenty-two percent of respondentsneither agree nor
disagree.
2023 Technology Survey

8. Technology Fees
Charged by Broker
51%
31%
15% 3%
0%
20%
40%
60%
The price broker
charges is
reasonable
Broker does not
charge
The price paid is
not worth the
value
Broker could
charge more
Technology Fees Charged by Broker
• Fifty-one percent of respondentssaid that the price their
broker chargesfor technologyfees is reasonable, and 31
percent said their broker does not chargethem a technology
fee.
• Fifteen percent said that the pricethey pay is not worth the
value.
2023 Technology Survey

9. Satisfaction with
Technology Provided by
MLS
24%
37%
21%
11%
5%
3%
0%
20%
40%
Extremely
satisfied
with MLS’s
tech
offerings
Somewhat
satisfied
with MLS’s
tech
offerings
Neither
satisfied nor
dissatisfied
with MLS's
tech
offerings
Somewhat
dissatisfied
with MLS’s
tech
offerings
Extremely
dissatisfied
with MLS’s
tech
offerings
Do not use
any of the
technology
tools or
services that
MLS offers
Satisfaction with Technology Provided by MLS
• Thirty-seven percent of respondentsstated that they are
somewhat satisfied with their MLS’s technologyofferings.
• Twenty-four percent of respondentswere extremely satisfied
with their MLS’s technologyofferings, and 21 percent were
neither satisfied nor dissatisfied.
2023 Technology Survey

10. Average Monthly Spending
Over Past 12 Months
on Technology Tools
13%
35%
20%
27%
6%
0%
20%
40%
Less than $50 $50 - $250 $251 - $500 More than
$500
Not
Applicable
Average Monthly Spending on Technology Tools
• Over the past 12 months, respondents spent on average
between $50-$250(35 percent) monthlyon technologyto use
in their individual real estate business.
• Twenty-seven percent of respondents spend more than $500
on technologymonthlyto use in their business.
2023 Technology Survey

11. Average Monthly Spending
Over Past 12 Months
on Lead Generation
25%
21%
13%
22%
20%
0%
20%
40%
Less than $50 $50 - $250 $251 - $500 More than
$500
Not
Applicable
Average Monthly Spending on Lead Generation
• Over the past 12 months, 25 percent of respondents
spent less than $50 on lead generation.
• Twenty-two percent of respondentsspent, on average,
between $50-$250monthlyon lead generation.
2023 Technology Survey

12. Social Media Networks Used
in Real Estate Business
5%
2%
6%
6%
15%
17%
26%
52%
68%
92%
0% 20% 40% 60% 80% 100%
Other
Threads
Snapchat
Pinterest
TikTok
Twitter
YouTube
LinkedIn
Instagram
Facebook
Social Media Networks Used in Real Estate
Business
• Ninety-two percent of respondents use Facebook in their real
estate business, 68 percent use Instagram, 52 percent use
LinkedIn, and 26 percent use YouTube.
• Seventeen percent reported using Twitter, and 15 use TikTok in
their real estate business.
2023 Technology Survey
*- Less than 1%

13. Main Reason for Social Media
Use in Real Estate Business
5%
28%
38%
45%
52%
53%
67%
68%
0% 20% 40% 60% 80%
Other
Enjoy it
It helps stay current on real estate
news and business trends
It helps network with other real
estate pros
Use it to generate leads
It’s expected to have a presence on
social media
It helps build/maintain
relationships with existing clients
Use it to promote listings
Main Reason for Social Media Use in Real Estate
Business
• Sixty-eight percent of respondentssaid the main reason for
social media use in their real estate business was to promote
listings.
• Sixty-seven percent said it helps build/maintain relationships
with existing clients, and 53 percent said they are expected to
have a presence on social media.
2023 Technology Survey

14. Tech Tools That Have Given
the Highest Number of Quality
Leads in the Last 12 Months
14%
16%
19%
21%
24%
36%
54%
0% 20% 40% 60%
Listing aggregator site
Personal blog or business
website/Brokerage’s
website
Digital ad campaign
Email marketing tool
Local MLS
Customer Relationship
Management (CRM)
Social media
Tech Tools That Have Given the Highest
Number of Quality Leads
• The top three tech tools that have given respondents(or
their agents) the highest number of qualityleads in the last
12 monthswere social media (54 percent), customer
relationship management (CRM) (36 percent), and their
local MLS (24 percent).
2023 Technology Survey

15. Most Impactful Technology
Tools in the Next 24 Months
• Respondentsfound that these technologytools provided by
their brokerage were very valuable: eSignature(67 percent),
Lockbox/Showing tech (53 percent), transaction management
(45 percent), and video conference (40 percent).
2023 Technology Survey
7%
8%
9%
9%
20%
24%
4%
4%
23%
24%
15%
32%
25%
34%
38%
37%
42%
25%
31%
27%
14%
14%
17%
8%
33%
27%
16%
16%
6%
11%
0% 20% 40% 60% 80% 100%
Cyber Security
5G
Virtual Reality
Augmented Reality
Metaverse
Artificial Intelligence
Most Impactful in the Next 24 Months
Very impactful Somewhat impactful Neutral Not impactful Not at all impactful

16. Familiarity with Blockchain
4%
19%
8%
17%
52%
0%
20%
40%
60%
Very familiar Somewhat
familiar
Neither
familiar nor
unfamiliar
Not very
familiar
Not at all
familiar
Familiarity with Blockchain
 Fifty-two percent of respondents were not at all familiar
with Blockchain.
 Nineteen percent reported they were somewhat familiar
with Blockchain.
2023 Technology Survey

17. Impact of Blockchain
Technology on Real Estate
7%
27%
7% 2% 2%
56%
0%
20%
40%
60%
Definitely
will have an
impact
Probably
will have an
impact
Probably
will not
have an
impact
Definitely
will not
have an
impact
Already
impacts
Don’t know
Impact of Blockchain Technology on Real Estate
• Fifty-six percent of respondentssaid they don’t know what
impact Blockchain technologywill have on real estate
going forward.
• Twenty-seven percent said they believe that Blockchain
technologywill probablyhave an impact on real estate.
2023 Technology Survey

18. Timing of Blockchain
Impact on Real Estate
9%
25%
32%
9%
5%
21%
0%
20%
40%
Now 1-2 years 3-5 years 6-10 years More than
10 years
Never
Timing of Blockchain Impact on Real Estate
• Thirty-two percent of respondentsbelieve that Blockchain
technologywill have an impact on real estate in three to
five years.
• Nine percent of respondentsbelieve that Blockchain
technologycurrentlyhas an impact on real estate.
2023 Technology Survey

19. Own Cryptocurrency
Yes, 18%
No, 82%
Own Cryptocurrency
• Eighteen percent of respondentssaid that they own
cryptocurrency(Bitcoin, Ethereum, etc.).
2022 Technology Survey

20. Familiarity with AI
13%
54%
8%
14% 12%
0%
20%
40%
60%
Very familiar Somewhat
familiar
Neither
familiar nor
unfamiliar
Not very
familiar
Not at all
familiar
Familiarity with AI
 Fifty-four percent of respondentswere somewhat
familiar with AI.
 Fourteen percent reported they were not very familiar
with AI.
2023 Technology Survey

21. Impact of AI on Real Estate
36%
39%
5%
1%
5% 13%
0%
20%
40%
60%
Definitely
will have an
impact
Probably
will have an
impact
Probably
will not
have an
impact
Definitely
will not
have an
impact
Already
impacts
Don’t know
Impact of AI on Real Estate
• Thirty-ninepercent of respondentssaid they believe AI will
probablyhave an impact on real estate going forward.
• Thirty-six percent said they believe that AI will definitely
have an impact on real estate.
2023 Technology Survey

22. Timing of AI Impact on
Real Estate
44%
30%
17%
3%
2%
5%
0%
20%
40%
60%
Now 1-2 years 3-5 years 6-10 years More than
10 years
Never
Timing of AI Impact on Real Estate
• Forty-four percent of respondentsbelieve that AI currently
has an impact on real estate.
• Thirtypercent of respondents believe that AI will have an
impact on real estate in one to two years.
2023 Technology Survey

23. Familiarity with the
Metaverse/AR/VR
4%
27%
11%
21%
37%
0%
20%
40%
60%
Very familiar Somewhat
familiar
Neither
familiar nor
unfamiliar
Not very
familiar
Not at all
familiar
Familiarity with the Metaverse/AR/VR
 Thirty-seven percent of respondentswere not at all
familiar with the Metaverse/AR/VR.
 Twenty-seven percent reported they were somewhat
familiar with the Metaverse/AR/VR.
2023 Technology Survey

24. Impact of the
Metaverse/AR/VR on
Real Estate
7%
36%
12%
3%
2%
41%
0%
20%
40%
60%
Definitely
will have an
impact
Probably
will have an
impact
Probably
will not
have an
impact
Definitely
will not
have an
impact
Already
impacts
Don’t know
Impact of the Metaverse/AR/VR on Real Estate
• Forty-onepercent of respondents said they don’t know
what impact the Metaverse/AR/VR will have on real estate
going forward.
• Thirty-six percent said they believe that the
Metaverse/AR/VR will probablyhave an impact on real
estate.
2023 Technology Survey

25. Timing of Metaverse/AR/VR
Impact on Real Estate
14%
28% 28%
9%
5%
16%
0%
20%
40%
Now 1-2 years 3-5 years 6-10 years More than
10 years
Never
Timing of Metaverse/AR/VR Impact on Real
Estate
• Twenty-eight percent of respondentsbelieve that the
Metaverse/AR/VR will have an impact on real estate in one
to two years, and 28 percent also believe that the
Metaverse/AR/VR will have an impact in three to five years.
• Fourteen percent of respondentsbelieve that the
Metaverse/AR/VR currentlyhas an impact on real estate.
2023 Technology Survey

26. Familiarity with Sustainability
Technology
11%
41%
11% 12%
25%
0%
20%
40%
60%
Very familiar Somewhat
familiar
Neither
familiar nor
unfamiliar
Not very
familiar
Not at all
familiar
Familiarity with Sustainability Technology
 Forty-onepercent of respondents were somewhat
familiar with SustainabilityTechnology.
 Twenty-five percent reported they were not at all
familiar with SustainabilityTechnology.
2023 Technology Survey

27. Impact of Sustainability
Technology on Real Estate
23%
35%
6% 1%
3%
31%
0%
20%
40%
Definitely
will have an
impact
Probably
will have an
impact
Probably
will not
have an
impact
Definitely
will not
have an
impact
Already
impacts
Don’t know
Impact of Sustainability Technology on Real
Estate
• Thirty-five percent said they believe that Sustainability
Technologywill probablyhave an impact on real estate.
• Thirty-onepercent of respondentssaid they don’t know
what impact SustainabilityTechnologywill have on real
estate going forward.
2023 Technology Survey

28. Timing of Sustainability
Technology Impact on Real
Estate
32%
24%
21%
8%
4%
12%
0%
20%
40%
Now 1-2 years 3-5 years 6-10 years More than
10 years
Never
Timing of Sustainability Technology Impact on
Real Estate
• Thirty-two percent of respondentsbelieve that
SustainabilityTechnologycurrentlyhas an impact on real
estate.
• Twenty-four percent of respondentsbelieve that the
SustainabilityTechnologywill have an impact on real estate
in one to two years.
2023 Technology Survey

29. In October 2023, NAR invited a random sample of 52,843 active
REALTORS® to fill out an online survey. A total of 2,632 usable
responses were received for an overall response rate of 5.0
percent. At the 95 percent confidence level, the margin of
error is 1.91 plus-or-minus percent.
Methodology
©2023 National Association of REALTORS®
All Rights Reserved.
May not be reprinted in whole or in part without permission of the
National Association of REALTORS®.
For reprint information, contact data@nar.realtor.
2023 Technology Survey

30. NATIONAL ASSOCIATION OF REALTORS®
The National Association of REALTORS® is America’s largest trade association,
representing more than 1.5 million members, including NAR’s institutes,
societies and councils, involved in all aspects of the real estate industry. NAR
membership includes brokers, salespeople, property managers, appraisers,
counselors and others engaged in both residential and commercial real estate.
The term REALTOR® is a registered collective membership mark that identifies
a real estate professional who is a member of the National Association of
REALTORS® and subscribes to its strict Code of Ethics.
Working for America’s property owners, the National Association provides a
facility for professional development, research and exchange of information
among its members and to the public and government for the purpose of
preserving the free enterprise system and the right to own real property.
RESEARCH GROUP
The Mission of the NATIONAL ASSOCIATION OF REALTORS® Research Group is
to produce timely, data-driven market analysis and authoritative business
intelligence to serve members, and inform consumers, policymakers, and the
media in a professional and accessible manner. To find out about other
products from NAR’s Research Group, visit www.nar.realtor/research-and-
statistics.
NATIONAL ASSOCIATION OF REALTORS®
Research Group
500 New Jersey Avenue, NW
Washington, DC 20001
202-383-1000
data@nar.realtor
©2023 National Association ofREALTORS®
All Rights Reserved.
May not be reprinted in whole or in part without permission of the National
Association of REALTORS®.
For reprint information, contact data@nar.realtor
2023 Technology Survey