Technology is shaping all industries and the real estate industry is no different. The real estate industry has become far different than in the past due to technological changes in society. There are very few best kept secrets with the different home selling and buying aggregators. The attributes that consumers look for in real estate agents has also shifted as people find their homes rather than allowing the agent to pick a few properties to show them. Embracing the different tools that technology has made available is essential as the industry is constantly evolving. Failure to evolve or adapt will lead a real estate company or professional in the past. The following are ways that technology has changed the real estate industry forever.
Apps Allowing Entry Into A Home
Agents know the terrible feeling of showing up to a home that the other realtor selling the home giving the wrong code to get the keys. The agent then being unable to reach the listing agent can not only be frustrating but make the all parties look unprofessional. Luckily technology has made this a bit easier if you can get signal to your phone as there are apps that are paired with lock boxes. In the future look for this to become even more advanced with things like smart homes becoming more prevalent. Face recognition of agents could turn into the way people are granted access to homes on the market.
Digital Marketing Campaigns Gather Quite A Bit Of Data
The ability to gather information like that of emails as well as ROI on specific marketing campaigns is important. Ranking at the top of search rankings could be one of the most important factors when it comes to converting in sales whether it is for an agent or mortgage broker. A great content marketing campaign can allow a company to showcase knowledge as well build backlinks to their website. Ranking on the first page for a local area can be an immense help as people rarely go passed the first page if they find an agent that has great reviews. Social media is also a great place to promote homes that agents are selling. Facebook has become very popular for real estate agents as people frequently tag others to check out a home sparking engagement on the post.
Viewing Properties Is Incredibly Easy For The Consumer
The ability to look at hundreds of homes and narrow down searches to what you want out of the home has made the home buying process easier due to the internet. Driving around looking to see for sale or for rent signs in home seeker’s desired area used to be commonplace. Once you start working with an agent they usually give out an MLS login so their client can keep up with the latest properties being listed.
The Property Buying Process Is More Competitive
The property buying process is far more competitive due to technology as everyone will be able to see a listing. For this reason in specific markets it is important to make a decision on a property before an offer that you cannot match comes in. Overseas investors can also be quite competitive when bidding for properties whether looking at a condo or townhome. Buyers that know what they want can get the home of their dreams if they act fast enough using the MLS and having it notify them of homes in their desired area within their budget that have recently hit the market.
The Consumer Is Far More Informed Than In The Past
Technology has made it easier than ever to educate yourself on a variety of topics. Real estate is one of these topics that a consumer is going to look into before making the huge investment of purchasing a property. Looking at the market in a certain area is easy as well as seeing recently sold homes that are comparable or of a certain type can be easy to navigate on certain real estate websites. The need for a person to find the right real estate agent with great negotiations is as important as ever. Most people know which homes they are targeting and the agent most likely is not going to show them something they did not see on the MLS. Whether you are looking for Florida beachfront property or Texas land there are plenty of great options to look into.
Technology is going to continue to morph the way that the real estate industry does business. Things like virtual reality tours to see a space in another country is not as far away as many people might think. Technology has made the way real estate transactions become much more efficient and allows closings to be done at a faster rate. Adapt and excel in the real estate industry as the financial rewards for success are vast!