This millennium is the age of digitalization across all business and corporate sectors. More and more companies are focusing on the use of latest software and top technologies which is welcome as well as a productive trend.
Over the last decade and especially the past two years, technology played a significant role in disrupting the functionality and affecting negatively the level of performance of most of the brick and mortar based business models and the real estate business is no exception to this dramatic effect.
Mac VPNs for Unblocking As a result, this also had a dramatic if not disastrous effect in the unemployment rate nationwide that experienced a fall to a 16-year low of 4.3% in July 2017. It also had a notable effect in recruiting and retaining employees making it increasingly difficult for the business owners.
Therefore, given this hard to survive and competitive environment, several companies have started trying out riding the digitalization wave. Most of them found that it is the most significant and an essential growth-driver, irrespective of the type of business.
Technology and its latest development have enabled the companies using it to:
- Boost their operational efficacy
- Level of performance
- Staff productivity
- In turn sales and
- Stakeholder relationships as well.
However, there are still miles to go in this respect to ensure that they reach to the state of complete consolidation.
Trends to consider
Therefore, it is important to understand a few of these major shifts in this landscape so that you can stay ahead of the competition and curve. There are different software to use and trends to follow to achieve the desired results.
Chatbots: If you want to have exceptional customer service then you have to use chat bots which is considered to be the best conversational agent. This tool will not only answer simple customer service related questions instantly but can also hand a customer over to the live staffers seamlessly as and when necessary. According to the study report of Aspect Software Research it is found that What Keywords Your Potential :
- 44% of consumers prefer interacting with a chatbot over any human representative in the customer service cell
- The tool can leverage internal as well as external databases
- It can personalize interactions
- It can provide specific data to each prospect and
- It can resultin higher lead conversions.
You can handle customer queries effectively 24/7 using this and can even program it to push promotions depending on your customer requirements. You can take on routine or repetitive tasks with more focus.
Mobile: The universality in appeal and usage of mobile in this age cannot be ignored or overlooked. According to NAR report, 58% property buyers found their homesusing a mobile app. When the Generation Z buyers enter the market in the upcoming years, the use of mobile is expected to rise even further. Therefore, you will need a design and have a mobile-friendly website to exploit the market fully. With better apps used by the realestate agents consumers can access IDX data from their smartphones and tablets. It is essential for:
- Mobile marketing
- Building an online presence
- Connecting with local neighborhoods
- Creating communities and
- Ensuring a more targeted approach for generating more leads.
VR and AR: A virtual walk-through a property will make all the difference in presentation as well as in the decision making process of a prospective buyer. Augmented Reality and Virtual reality are two technologies that will result in better customer experience and higher level of involvement. According to a recent research report of Goldman Sachs, VR and AR market in real estateis predicted to reach a minimum of $80 billion in real estate by 2025. Therefore, it is best to use a combination of AR and VR often called as Mixed Reality. It will ensure:
- Remoteviewing of properties all around the world
- Creating a 360-degree immersive experience
- Offering multiple options of finished sites
- Saving time for both agents and customers by expediting the buying process.
IoT: Use of IoTwill have a significant impactas this is the most significant thing after “Cloud.” These tools and software has brought in a notable revolution with the Smart Homes feature that is not only intuitive but customizable enough as well to ensure that you meet the need and taste of the prospective buyers. These tools help in comfortable use of the consolidated data.
Big data and predictive analytics: This another key tool to use because it will help you know about the likes and dislikes of your customers with relevant data points. You will be able to transform assumptions into facts that will help you in a lot of ways such as:
- Improving deals
- Making better investments of time and money
- Mitigating any risks
- Understanding tenants and landlord needs in a better way and
- Opening up new and more profitable business opportunities.
Marketing and project management: There are specific tools to automate marketing endeavors and manage different projects simultaneously. According to a study, it is revealed that almost one-third of a day’s time is spent by the salespeople to talkto clients. Moreover, it is also revealed that:
- They spend 21% of a day’s time in writing emails
- 17% of it in entering data
- 17% in researching and prospecting leads
- 12% in attending internal meetingsand
- 12% in scheduling calls.
With proper automation of different tasks such as scheduling and use of CRM tools and arosoftware will enable all real estate agents to devote more of their days’ time to build relationships with clients and less time in completing the routine administration tasks. You will be able to leverage online leads using these tools and software with all possible acceleration and simplification of the management process.
Blockchain: Most experts consider Block Chain to be the future of real estate that will help in validating transactions, add them to the stack and even eliminate the pain of maintaining any physical records.
To sum up, as more buyers are turning to cryptocurrency for financial transactions in real estate, it is important that you automate your process to stay relevant.
