How Will Technology Change Real Estate Sales & Marketing in the Future?

Reblogger Bill Foxworthy, Jill Turner
Real Estate Agent with Carpenter Northeast RB14042320

Much of my career has been keeping up with  the leading edge technology.

This is a very thought provaking post.  Please enjoy it.

 

Original content by R. Michael Brown

My last job in the tech world of IBM (wired) and Motorola (wireless) was future vision marketing manager before I "got off the plane" and applied what I learned about digital marketing and PR in real estate.

We looked out 1 year, 5 years, and 10 years to try and imagine what is possible with wired and wireless technology. Then we would go tell customers about it.

My method involved interviewing patent holding engineers, scientists, marketing gurus, and futurists. 

But one of the most valuable sources I had was from the sales force. They told me what was working and would not work, what customers asked for and expected in the future, and they actually gave me requirements for developing future products and programs.

One of the things I realized early on was that I came up with maybe 20% of the good ideas. The rest came from others. That's where you come in.  I've created a starter list below.  Brainstorm!  Let's create the idea of real estate marketing in the future together!

I would like to do that here, and share it with the Active Rain Community. 

BASELINE

Here's what we know as a baseline for the real estate market today:

- Digital imagery (photos, renderings, visual tours) made a big difference and are here to stay. 
- Social Networking and blogging leaped forward and will continue to grow.
- Email marketing is now full of pictures and is working great.
- Websites are including:
  = Listings
  = IDX integration
  = Property locators
  = Mapping
  = Galleries and Slide Shows
  = Some Facebook and blog integration
  = Some Video (in the early adopter phase and will expand in this next year)
  = Links to sites like Realtor.com, Zillow.com, Trulia.com, local community information like schools and shopping, etc., plus many others.
  = Multiple languages in addition to English (Spanish, French)
- Customer Relationship Management (CRM) Systems (Early Adopters using & winning!)
- Electronic "Video" Billboards (just started)
- Newspapers/Media Company Advertising Media Buys Happening on Google (Early Adopters only)
- Direct Mail
- Radio
- TV
- Signs
- Events
- Telemarketing
- Marketing Measurement Systems to track media buys and campaigns (Early Adopters only)

So here's the question:  What will the future of real estate marketing look like?

CURRENT TO 1 YEAR OUT
- Broker and Builder websites will integrate Social Networking technologies for easy sharing and interaction (Facebook, Google Buzz, Twitter, ShareThis, Digg, Delicious, Live, Stumbleupon, LinkedIn, Blogs, etc.)
- Content Marketing will expand
- Direct Mail will include more Newsletter Postcards (smart marketers)
- Email Marketing will include more news - less hype

1-5 YEARS OUT
The biggest change during this period for real estate pros isn't in the technology.  The biggest change will come from you learning how to learn and adapt quicker.  You're selling brick and mortar; but, you're going to be using tools to do it that evolve quickly.  That means software.  Your customers and companies will demand that you know this new way to interact - forcing you to change.
- Mobile enabled websites for advertising, listings, and sales interaction
  = Images
  = Mapping
  = Video
  = Social Networking between selling organization and customers
  = GPS Enabled Listings
- Customer Relationship Management (CRM) Systems - more pervasive use and will center the effort of database marketing
- Newspaper/Websites and Media Buys Dominated by Google
- Content Marketing will become more layered so a buyer can get just the right amount of information they individually want rather than the seller, broker, or builder dictating the amount.
- Email marketing will add video
- Events will become more creative and integrated with other organizations
- Online & Mobile Chat & Texting
- Online Interactive Contracts & Documentation
- Smart Irrigation. Technology is cheap and easy today. Will become pervasive.
- Marketing Measurement Systems will link directly with CRM
  = Google May Be the Integrator

5-10 YEARS OUT
- Will websites become media rich enough to satisfy a customer enough to buy online?

- Interactive Video Television and/or Web [not sure what the devices will be called at this point - interactive displays?] about Properties. You'll be able to select and "see" the systems work in a house.
- Smart Houses (I don't think the house will sell itself but you'll have to know about  these systems to show them)
- Smart Irrigation Standard
- Exterior and Interior Wired and Wireless integration (Security, Power, Appliances,  Entertainment, Info Systems)
- More Audio (Voice) enabled

Ideas?  What do you think?  Add your comments!

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Bill Foxworthy, Jill Turner

Real Estate - Indianapolis, Fishers, Carmel
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