WHERE mobile technology was once used to compliment the efforts of real-estate brokers, it has now rightfully become a primary platform to boost engagement and finalize property sales.
When the idea of technology in the real-estate sector is brought to mind, it’s easy to think of web sites, like Lamudi—one of the largest property sites online. But with advances in technology reaching the public every day, the brokers’ arsenal has definitely gotten stronger by the minute.
Perhaps, the most obvious advantage of using technology as a selling tool is the fact that a significant portion of the buying market—the millennials—is a tech-savvy generation. Not only do they constantly look for properties that provide amenities atuned to their passions and lifestyles, they also want to see that the brokers they engage and the potential properties they would consider to invest into both have strong presence online.
At this point in time, online visibility stands as among the most important priorities to boost credibility. Most potential buyers can do a quick web-search about a developer, a broker, or a particular property between coffee breaks and Tweets. With most millennial business done via chat apps or social media, you want it to be easy for your potential leads and buyers to reach you. Consider opening a social-media account for yourself and for your listing, if possible. When you’re able to speak the millennial language of technology, you’re opening yourself up to a whole new arena.
Taking advantage of the trend
Ask any real-estate broker and they will tell you that perseverance is a huge part of making that sale. Constant follow-ups and delays caused by conflicts in schedule or logistics are common.
Technology can solve this. The late Steve Jobs once championed the exciting beacon technology. A state-of-the-art location-based technology that helps both buyers and brokers, beacon technology is especially useful for open houses. Gone were the days of awkward tours, lacking information and illegible sign-up sheets. With beacon technology, the interested buyers’ smartphone will receive a notification about a nearby open house. Upon entering the home, they receive a prompt that asks them to fill out an information sheet before being sent all the pertinent details about the property.
Paperless technology nowadays also bridges the gap between clients no matter where they are, meaning fewer resources are used. To counter the possibility of confusion and to streamline the process from preselling to handing over the keys, there are apps like Spacio and Open Home Pro. In the local scene, Lamudi Philippines has an app that connects prospective buyers with available properties and brokers in one swipe.
Riding the wave
Of course, utilizing technology to your advantage is not as simple as signing up to a web site or downloading an app on your smartphone.
Nothing beats taking time to study your local market first. Find the trends and preferences that will help you know how to best engage. For example, I came across a talk by an operating partner at RE/MAX Life in Tulsa, Oklahoma, Axay Parekh, where he said that he posts aspirational content during the late “wine hours” of a young millennial’s day, while he posts more active and outdoorsy shots during the daytime. “You want to post things that people can relate to. You want to post something genuine,” he said.
Keeping the tone light and fresh is also better than being too stuffy. Use your social media as a chance to be the “breath of fresh air” in a seemingly stiff and traditional industry like real estate. Use hashtags and don’t be afraid to have fun. You are selling something personal—a home—and millennials are deeply emotive and experiential consumers. By posting content that shows “humanity” behind the company, you are effectively strengthening recall and interest.
Think before you click
Technology is powerful and effective, but can also be fickle and backfire if used callously. One bad review is sometimes all it takes to ruin a sterling reputation you’ve built for years.
Avoid this by putting proper effort in your accounts. Stay accessible and consistent. If you’re not easy to reach then, you are losing the chance to create a community with other like-minded professionals. Who knows? You may even get referrals.
Brittany Barksy-Allison, team member with Wydler Brothers, once shared in an interview that, “Technology strengthens our industry, but people are at the core, and we cannot forget that simple fact.” And I agree, but while face-to-face interactions still hold a certain personality and effectiveness that shouldn’t be lost, being empowered with technological acumen is the best way to prosper in this Age Of The Smartphone.
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