Technology continues to be a catalyst for change in all business sectors and industries and real estate is no exception.
Today, real estate agents are embracing technology more than ever and leveraging it to perform virtually every task. From managing contacts to generating leads to streamlining workflows, technology has become the new currency for the 21st-century real estate agent.
But why all the buzz around real estate tech?
Not only does the use of real estate tech make you more productive and organized; it’s the only way to remain competitive in a market that’s awash with tech-savvy millennials—who now represent 36% of all home buyers. Stay organized by embracing these real estate technologies.
1) Customer Relationship Management (CRM)
Once only reserved for large corporations that could afford expensive software, CRM (customer relationship management) software are now accessible and affordable for any brokerage.
CRM software is becoming an indispensable part of every real estate business. They perform multiple functions that can be broken down into three categories:
- Salesforce automation
- Marketing automation
- Customer service automation
Salesforce automation helps sales professionals boost their potential by automating processes such as contact management, task management, alerts, and notifications. The marketing automation function will allow you to track every customer touchpoint. With a great CRM software, you’ll be able to acquire, score, and nurture leads without lifting a pen.
2) Transaction Management & Coordination
Organization and success go hand in hand, so agents looking to boost their workflow should focus more on getting organized. For instance, getting a ratified purchase contract is often a lengthy process that involves a lot of paperwork.
If organizational skills are lacking, manual processes can lead to displacement and loss of some documents that can delay some processes.
A tech-savvy broker can leverage real estate transaction management tools such as Paperless Pipeline, to automate all processes and easily monitor which contracts or documents are missing. Such programs also feature automated checklists, due dates, and reminders so you’ll always have a complete picture of the workflow and easily coordinate your team.
3) Digital Document Signatures
Want to close more deals and in less time in 2020? Electronic signatures are the way to go and will greatly help you achieve this goal.
Digital signing software allows you to electronically send documents to customers for signing, then collect e-signatures. This process saves time as opposed to the manual method where you may have to drive around or ask customers to meet at your office.
Popular e-signature software includes DocuSign, HelloSign, PandaDoc, and Zoho Sign. These document signing software services are relatively affordable, and some like HelloSign even comes with a free plan.
4) Virtual Reality (VR) and 3D Tours
The property market is rapidly moving away from the days when real estate agents tagged along with customers trying to make a hard sell. The market has ushered in a new era of virtual property walkthroughs.
VR and 3D tours are the new tech trends in real estate. These next-gen technologies have gained unprecedented traction because they provide a visual representation of the future apartment.
While viewing pictures give buyers an idea of what the apartment looks like, VR and 3D tours help buyers to feel the real size and volume of rooms without being physically present. Utilizing these technologies can give you an edge over the competition.
Have you used any of these real estate technologies to keep your business organized? Share your experiences in the comments section below.