As I am wrapping up my internship, I noticed just how far technology has reached into every businesses, including real estate. By the time I started my internship last summer, my mentor was already complaining about how there are still units available — a rarity given how popular rentals are in the summer. It didn’t take long before he figured out who was “stealing” his business: Airbnb. A decidedly low-tech person, my mentor only posts his rental properties on Craigslist, which, while still being used, is no match for other popular rental-seeking sites. So reluctantly, we embraced the two biggest booking sites: Airbnb and Booking.com.
Surprisingly, the results turned out better than we expected. Even though it took a while for us to get our properties onto those websites, once it was on, the bookings came pretty automatic. In fact, we had so much that we had to cancel a couple bookings when we first started — immediately forcing us to learn to use the calendar synchronize feature. It’s incredibly fascinating when one thinks about all the implications technology will have on the economy and small business in the future.