While the real estate business has been around for hundreds of years, it is only in recent decades that technology has had a significant impact on how people buy and sell homes.
Technology can help Realtors do their job more effectively by attracting potential buyers to their listings, generating leads, and eventually closing deals. Learn about some of the different technologies out there today and how they could be used to make you more successful.
1. Digital Marketing (Google Ads and Social Media)
Real estate is a crowded business. A Realtor needs a strong online presence and a steady stream of potential buyers coming through their virtual door to stand out. The vast majority of home buyers begin their search on the internet before ever talking to an agent.
When agents have well-optimized profile pages on platforms like Facebook, Twitter, Google+, and LinkedIn, they can easily reach new audiences. In recent years real estate agents have also started investing in Google Ads, which allow them to target specific types of people relative to the neighborhood where they're selling homes.
Facebook has become an essential resource for people looking for homes because it allows them to find connections between themselves and other members of their social networks who live nearby.
This gives agents many opportunities to show listings directly on someone's wall, along with information like how much they'll need to pay monthly or what kind of neighborhood they're moving into. In some cases, Facebook can even give agents a chance to interact with buyers who have already purchased homes so they can set up the transition process.
Realtors keep updating social media. Most agents will maintain a website and Facebook page to post pictures of homes available for sale or recently sold. This content is helpful for buyers because it gives them an idea about what kinds of houses their agent has access to and what kinds of features tend to come with some regions of the city.
In some cases, prospective clients even contact agents directly through social media, which can help increase efficiency by sparing Realtors from getting in touch with high-priority clients over the phone after business hours.
2. 3D Cameras (Virtual Tours)
Showing a home in person is an excellent way to expose it to a wider audience, but time and distance stand in the way of many buyers. In some cases, realtors have overcome these barriers by digitally touring homes with 3D cameras.
A simple webcam combined with proprietary software can create virtual tours that prospective buyers can explore from wherever they are.
3. Online Home Searching
In the past, potential home buyers often had to go from house to house looking at paper MLS listings to find a new place. The internet has made it possible for people to search for homes from their computers and interact with agents more efficiently by signing up on websites like Zillow, Trulia, and Redfin.
Most of these sites have 3D virtual tours available and information about schools, property taxes and demographics.
4. Online Mortgage Approvals
There are a lot of steps involved in the mortgage approval process, which used to require multiple forms and physical meetings. Today, however, it is entirely possible for realtors to handle everything online.
This saves time and makes the application process more convenient for buyers who can apply from home without having to worry about running out to get paperwork after hours or dealing with strict bank hours.
Mortgage calculators are beneficial for homebuyers to know how much they can afford before visiting homes with their realtor. Many people begin their search by playing around with calculators online, which help them quickly figure out how big of a house they should be looking at, what kind of monthly payment they'll need to pay for it, and what kinds of interest rates are available.
These tools allow consumers to get helpful information without waiting on hold or going through arduous steps to speak with someone.
5. Signing Documents Remotely
It was common in the past for Realtors and homebuyers to have to go through a long process of signing paperwork when closing on a property. This included printing out documents, signing them with an ink pen, scanning them, and mailing them back to each other.
Now there are several companies (such as Docu Sign) that offer remote digital signatures, which allow people to sign essential contracts without having to deal with printing or snail mail.
6. Sending Postcards
Even in a digital age, direct mail is still a great way for real estate agents to market themselves as experts and generate listings in a real estate farm.
The technology of ordering and sending real estate postcards has improved dramatically, with companies like Wise Pelican allowing you to customize postcards and upload custom mailing lists in just minutes.
7. Smartphone Apps
Mobile real estate apps are helpful because they allow you to check them anywhere instead of sitting in front of a computer or carrying around city maps to figure out where everything is located.
You can typically use these apps to find homes that are currently up for sale, schedule showings with your realtor, get instant notifications about updates, search listings based on criteria like price range or amenities.
8. Programming Skills
As technology becomes more complex, it requires more sophisticated programming languages to operate. Some Realtors specialize in technology and make this their primary specialization.
They know how programs function and can use them to provide a wide range of services, such as overseeing listings, managing client contacts, and schedules, and ensuring the right people see each property (so it doesn't get lost in the shuffle).
9. Keeping Dossiers
Real Estate agents typically keep detailed dossiers about prospective clients so they can reference them later on when necessary. These files include tax records, real estate histories, credit reports, etc., that help agents ensure their clients stay organized no matter which properties they look at or what kind of service they need.
10. Tracking Appointments and Creating Reports
In some cases, Realtors need to show many properties on a single day. Having a reliable way to keep track of their appointments is essential because they don't want to leave anyone out. This can be done by creating professional calendars that feature custom templates and building scheduling software that automatically updates the date as each client's appointment approaches.
Many home buyers rely on realtors as teachers who help them find the right property and provide expert advice about buying in general (for example, how much they should spend or what kind of location they should look for).
When clients come back after settling into their new homes, agents can prepare reports that summarize all recommendations made during the process. This is helpful for both sides because it ensures their experience stays fresh in each other's minds and allows agents to offer more personalized service.
Conclusion
Real estate agents are essential because they help people find homes. This is true no matter how you look at things or what kind of perspective you take because whether it's for personal use or to make a profit, the whole process starts with finding the right property.
That being said, success in this field takes more than just knowledge about residential real estate. Realtors must also stay up-to-date with market trends, know where to advertise their services, learn new technologies that can increase work efficiency if they want to survive in today's competitive industry.
