Digital transformation is upon us. Basic activities like ordering groceries or reading the news may have been among the first services to transform. But we can’t ignore the big digital revolution taking place in real estate. Unlike other industries, the digital transformation in real estate is not a replacement of people, but rather a delicate ballet between woman and machine.
Over the last two years, the real estate industry has been turbulent. Volatility in the housing market caused economic fluctuation, agent layoffs, and a rise in mortgage rates. Brokerages and real estate professionals struggle to sustain their foothold as fewer buyers were willing to buy homes and while sellers continue to list their properties. In addition, lesser open house hostings resulted in lesser outreach. Several voids were formed with the uncertainties thrown by the pandemic. However, rapid technology adoption has managed to fill the gaps to some extent.
In-person open houses have been augmented with video walkthroughs, virtual tours, 3D floor plans. Now, open houses are not limited to property visits. They can be experienced through any mobile device or a laptop with Virtual Reality.
Many physical artifacts of the home-buying process are also becoming digital. Disclosure Documents can be as simple as a PDF file saved on devices that can be sent anytime to interested clients, versus a hard copy file that is harder to share. Even signing documents has become a digital practice.
The house hunting process can be stressful and choosing a buying agent is a daunting task. It is important for first time home buyers to have reliable & trustworthy realtors to guide them through the process of buying a house. When you’re buying a house, you need to know as much as possible about what you’re getting into. Ignoring the details can be extremely risky. A real estate agent has access to a wealth of information and experience. Which helps them to steer you in the right direction when making your buying decision.
Standing out as a realtor in a competitive market
Even though, the home buying process can be really challenging and sometimes, it becomes very time-consuming. Some of us might even think that buying a house is an expensive task, but they are not aware of various technological advancements that have been happening in the real estate industry today.
Through smart use of technology, a collective effort from the entire real estate industry, and an improved consumer experience, real estate agents can reach new levels. Realtors need to cut edges on utilizing technology to prove ‘why’ they might be the right agent for clients to initiate deals with. Below are a few tips on how you can get ahead in the game.
Personally connecting to clients by sending them Narratives. To learn more about Narrative head to our previous blog. Maintaining a close relationship with clients helps in gaining their trust and results in retention.
Guided Buying Experience
Another way to hold on to the buyers is by providing them with a guided buying experience. A lot of times buyers get confused between the variety of options available to them either on the internet or through an agent. When an agent is competent to provide expertise and guidance in every step of the way, it contributes to quicker buying decisions.
Imagine how great it would be if the buyers remembered everything they liked about your offering. This is exactly what they can do if you texted/emailed them a link to fullfeel Moments. When they click on this link on their mobile device, they can capture the video of everything they like as well as add their own comments. They can keep turning it on and off during the site visit and fullfeel Moments automatically stitches it all into a single video. With fullfeel Moments, your buyers will be able to recall every detail that they cared for without mixing them up with other site visits.
When each buyer has their own space where you have shared listings and other information with them and they have shared their feedback/comments in form of moments with you, it becomes easier for you to keep a tab of requirements from each client. This will simplify your life.
Presentations either make your deal or break your deal. Outstanding presentations with attractive visuals and accurate information aids in creating a likable first impression on the clients. Additionally, to be able to personalize presentations according to buyer’s requisites. It sure is a win-win situation for a realtor eventually supporting them in gaining a competitive advantage. Want to know more, click here
Analytics act as an advantage for a realtor because then she/he will be able to gain insights about their client’s requirements and persuade them explicitly. Oftentimes, when realtors send out follow-up materials, they are left with guesses. If the potential client has or hasn’t viewed it or which one of the many materials sent out— interests a particular client.
New technology such as artificial intelligence, cloud computing and robotics will improve the efficiency of realtors. It will also make their job easier. It is crucial for real estate professionals to be able to interact with their clients in a different way. Digital transformation will avail the real estate industry to reach different levels of success and realtors can be their own bosses.