The effect of the digital era is apparent in so many industries, and so is the case with the real estate sector. Digital marketing has seen a significant rise between the years 2015 to 2020. Till 2019 digital marketing was a convenience and a great option for people who wanted to start a business without a storefront.
After 2019, it broke all the records as COVID-19 transformed this convenience into a necessity. Amidst all the social distancing norms, sellers had to find a way to market their brands. And the only effective way during this time was digital marketing.
So much has changed since COVID-19, but yet not so much as people are still doing the same tasks as they used to. Only now, they are doing them digitally. The world is slowly resuming its previous norms and pace. However, the use of digital marketing has let people delve into the unexplored potential of marketing.
Similarly, the real estate industry has also adapted to this tech-driven world. With innovative digital marketing plans, buying or selling properties has become more fun and convenient. All this has also changed the role of buyer agent and property managers. In this blog, we are going to explore the evolving role of buyer agents in this tech-driven world during the home-buying process.
Real Estate Industry And Latest Technologies
The fusion of property and technology is referred to as proptech. It comprises all the tech tools that real estate agents use to optimise their selling, buying, researching and marketing practices. This use of real estate technology is also known as Retech, Real Estate Tech, ReaclTech or Commerical Real Estate. However, at the core, the meaning of all these terms is associated with the alignment of the real estate market with technology.
The Role Of Buyers Agents In a Tech-driven World
The advancement in technology is taking over the world. While getting used to it might seem complicated initially, once you get the hang of it, you can use it to your advantage. However, these new tactics can significantly change the role of real estate professionals. With all the information at their fingertips, their role has changed substantially, as now they can provide exceptional customer service to their clients. Some of the primary roles of buyers agents in this tech-savvy world are:
Targeted Digital Marketing Campaigns
Digital marketing tools provide facilities such as advertising to targeted audiences. As a result, lead generation, qualification and conversion in buyers agencies have become quite accessible. Thus, by using this technology, agents can generate new leads at a more rapid pace than before.
Advanced technology has made it easier for agents to get their hands on any information. Virtual assistants answer your queries immediately and intelligently. It is possible with the machine learning feature. Thus, the sources are reliable. This high knowledge power can provide the necessary data analytics, such as statistics of a particular area or location, to the agents. As a result, their listings become more elaborate and well-researched.
Serving Large Client Base At Once
With all the technology at their fingertips, agents can interact with multiple clients at once. They can either reply to them through social media platforms or conduct virtual tours. All this has made their work more efficient and productive.
Improved Engagement With Customers
Social media platforms have made it easier for buyers agents to foster a relationship and build trust with their clients. They can do so by engaging with them in a FAQ session or sharing a blog post addressing their client’s issues and providing solutions. All these actions can also build the agent’s image and credibility.
Digital marketing requires agents to be present on social media platforms. This means creating a Google Business profile, Facebook account, Instagram account and LinkedIn account. Doing all this further authenticates the services of the real estate agents.
Using Property Management Software
By using property management software, agents can gain access to data and reports anywhere, anytime. All this helps the agents to explore and find a wide range of options for their clients and thereby providing them with the best deal.
Artificial Intelligence Helps In Making Better Decisions
AI can provide better recommendations and valuable insights into the particular property your client is interested in. This information can help the agents to make data-driven decisions about their listing so that they can provide the best alternatives to their clients.
Imroving Listing With Virtual Tours
Visual or virtual tours have become a handy tool when it comes to dealing with clients that can’t be physically present at the location. Agents can simply provide potential clients with a virtual tour of the property. Moreover, agents can now add virtual tours to their listings too.
Less Administrative Tasks
Traditionally, an agent invested 80% of the time into completing administrative tasks such as gathering information, evaluating the property, historical data, finding the best deal, etc., and 20% into closing deals. However, now it’s the other way around, as they can now use proptech solutions to research all this.
Advancements in technology will continue to happen. In order to stay relevant, you will need to be up-to-date with the new technologies. If you fail to do so, then other entities that can do it will take over you. With all the advantages of new technology, it’s only fair to give it a try. After all, real estate agents are finding it beneficial. And why not, as now they can have all the information with a few clicks in minutes which earlier they used to get in days of field research.