There is somewhat of an anti-technology attitude in the real estate industry. While other industries are embracing technology and keeping up with the latest innovations, the real estate industry has been resisting change. However, it’s in the best interest of the industry to start embracing technology.
It’s only a matter of time before the younger and more tech-savvy generation dominates the industry. Also, technology has applications in several aspects of the industry. The COVID-19 pandemic forced real estate agents to adopt technology but with the world having returned to normalcy, everyone involved in the real estate industry should make conscious efforts to embrace technology.
Below, we discuss technology and ideas that real estate agents should take advantage of to set themselves up for short and long-term success. Here we go.
Boost Marketing Efforts
In the real estate industry, everyone is a potential real estate prospect as you can never tell when someone will need to buy a property or sell their current home. So, the aim of every real estate agent is to reach as many people as possible. Usually, this is accomplished by cold calls/emails, newspaper and magazine ads, fliers, and so on.
In the past, all the aforementioned are effective ways to reach prospective home buyers or sellers. Fast forward to the digital world we live in now, traditional marketing methods are simply not enough. A large percentage of Americans, about 93%, use the internet and search for information about subjects of interest online. This means there’s an entire, and significant, audience online that real estate agents will miss out on if they don’t embrace technology.
Real estate agents should strive to have an online presence by creating a professional and mobile-friendly website. Then, they can create relevant and useful content for their target audience. Resources like Semrush and Ahrefs can help agents optimize their content for search engines.
Another strategy real estate agents can use to set themselves apart is to partner with home warranty companies. After all, homeowners aren’t keen on repairing any major household appliances anytime soon after moving in. Some real estate agents even include home warranties as gifts to their customers as a way of providing extra value.
For example, a new article from Cinch Home Services reveals how homeowners feel about home warranties. And after all, queries such as ” best home warranties” or “top realtors near me” and so on are frequently asked questions on Google .
Virtual Reality Is The Future
Virtual reality (VR) is becoming increasingly popular in the real estate industry. The COVID-19 pandemic saw the rise of VR as sellers and buyers alike sought an alternative to in-person property tours and inspections. And now in a post-COVID world, VR remains more important than ever.
Properties with virtual tours are bound to get more views than those without. The reason for this is obvious. Sellers get to showcase the beauty of a home through virtual tours and buyers can have a feel of what it’s like to live in a property without even stepping into the property. VR to the world!
Generating And Nurturing Leads
Just like in any other business, the next step after marketing is to generate leads and nurture qualified leads. The goal of nurturing leads is simple – develop a relationship with prospective customers and convert them to clients.
It’s also worth mentioning that most of the people that come in contact with a business aren’t ready to patronize right away. But if they are properly nurtured by a business, such a business will be at the top of their mind and they are more likely to buy from the business in the future.
Thanks to the power of AI, real estate businesses can automate the process of managing and tracking leads. Customer Relationship Management (CRM) software is making lead generation and nurturing easier than ever.
E-closing Is A Game Changer
Finding a desirable property is merely the beginning of the journey in real estate. The most lengthy part of the journey is the closing of the property, a process that tends to be tedious and requires different parts to coordinate together. Usually, it can take weeks or months to close a home.
Again, the pandemic spurred the adoption of remote online notarization (RON) and e-closing as a way of eliminating in-person contact. But with the pandemic behind, the convenience and speed of RON and e-closing cannot be ignored.
Mortgage lenders are starting to offer RON and closing options to prospective homebuyers as the younger generations such as millennials and Gen Z are becoming homeowners. Closing documents can then be signed online saving time for both parties and reducing errors.
