Hello World! Welcome Friends! The modern real estate market has been challenging for buyers, sellers, and real estate agents. There’s fierce competition from other agents looking to draw in clients, which means you may need to turn to technology to gain an advantage.
Fortunately, there are plenty of technology solutions with incredible applications for real estate that you can use to set yourself apart. From virtual reality to marketing automation working behind the scenes, check out the best modern technology solutions in real estate to help agents stay ahead.
Virtual Reality and 3D Tours
Virtual reality (VR) is often seen as a technology for the entertainment industry – namely video games – but there are a number of practical, less flashy applications that tend to fly under the radar.
In real estate, VR can assist agents in creating an immersive, in-person experience to stage homes and properties remotely instead of relying on photos and videos. This can be a game-changer for real estate, as agents may feel restricted to their local markets and clientele. VR allows you to broaden your market and serve clients who are looking for properties outside their geographic area.
In the past, real estate used images and videos to help buyers see the properties and imagine themselves there, but nothing really compares to the real thing. A 3D walkthrough is as close to the real thing as it gets, so buyers can make an informed decision without having to travel and set up an appointment to see a property in person.
But that’s not all. While the most common use for VR is virtual tours, it can be used to help buyers envision a fixer-upper after bathroom remodels, kitchen upgrades, and other home renovation projects like landscaping or hardscaping. If they can’t see the potential themselves, VR can bridge the gap.
CRM Software for Client Management
There’s fierce competition in real estate. One of the key traits that successful real estate agents have in common is their ability to bring in new clients and nurture long-term relationships. However, the downside is that as the client base grows, it’s more difficult for them to provide personalized attention to their clients and tend to their needs.
Ultimately, it could mean losing old clients in favor of bringing in new ones, or devoting all your resources to retain current clients without bringing in the new clients that your business needs to survive in the long term.
That’s where customer relationship management (CRM) can help. These platforms help real estate agents consolidate and organize their client information and communication in one centralized, intuitive platform for a single source of truth. It’s easier to track communications, deadlines, and client files, making deals, follow-ups, and other vital parts of the agent-client relationship a breeze.
What’s more, CRM platforms often use open-source technology that allows you to connect the platform to other cloud services, such as instant messaging, video conferencing, email, and more. All client interactions are recorded by the CRM, keeping you on track and in the know.
This not only helps you satisfy your client but helps when it comes time to scale. Spending time looking for details on multiple platforms or management systems is time-consuming, especially when you build your client base, but CRMs keep it all in one easily accessible place.
Marketing Automation Tools and Platforms
All businesses, but particularly service-based businesses like real estate, need to carefully balance client acquisition with client retention. It’s more cost-effective to keep current clients happy, but it can be time-intensive. You also need an influx of new clients to thrive, especially if your market is primarily residential home buyers.
So, how do you know whether to devote your time and marketing dollars to nurturing your current clients or growing your client portfolio? That’s where marketing automation platforms come in. You can optimize your time to take care of current clients while automating a lot of your lead generation to keep a steady flow of new clients.
Armed with a diverse range of automation platforms, you can schedule everything from blog posts to social media updates to newsletters on a consistent schedule – even months in advance. Use your slow time to plan your strategy, then set it and forget it.
Automation platforms can even create and send targeted email campaigns with drip features to re-engage cold prospects and move them further into the funnel. There’s plenty more at your disposal, including website listing pages and brochures that you can automate to scale your operations and expand your exposure with manageable growth.
Data-Driven Analytics
Virtually every business needs to harness the power of its data to thrive. In real estate, which can be a volatile market with a lot of trends and market fluctuations that can influence purchasing behaviors. As a sole agent, it can be incredibly difficult to navigate the market and stay ahead.
Data collection and analysis tools can be a huge help. These tools provide information regarding client browsing and buying patterns, home market values, competitive listing price points, up-and-coming areas, and more, which you can use to identify opportunities for profits in different segments.
Data analytics platforms also help agents offer more value to their clients. You can work with your clients to determine the best time to sell their home, how to make moves to strengthen their real estate portfolio, and when to start looking for new properties. With this level of insight and transparency, you can optimize your time and resources while providing better client service and satisfaction.
Use Technology Tools to Your Advantage in Real Estate
The real estate market can be difficult even on its best days, no matter how much experience you have. The real estate agents that persevere and succeed are the ones with some forward-thinking, which can come from leveraging new technology solutions that can automate, streamline, and strengthen different aspects of the business. Using the tools on this list can help you give your clients better service while positioning yourself for profits.
Author Information
Author Name: Michael Alladawi
Author Bio:
Michael Alladawi, CEO & Founder of Revive Real Estate, is a Southern California real estate veteran with a proven track record as a builder, investor, and respected home flipper. Michael created Revive Real Estate to share his industry knowledge and help homeowners maximize their profits when selling their homes. Michael’s passion for his work is as big as his desire to create lasting partnerships. For Michael, it all comes down to how much value one offers, both in business and life relationships.
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