The real estate market isn’t for the faint of heart. It’s always moving and can be incredibly competitive. However, unlike several years ago, modern real estate processes and workflows are driven by new technologies.
Today, there are a number of great tools available that real estate professionals can use to simplify their day-to-day while helping them close deals more successfully. As clients look for a more modernized approach when buying and selling properties, real estate agents have a unique opportunity to give themselves a noticeable edge over their competition.
The Evolution of Real Estate Through The Years
Anyone who has been in the real estate industry for a number of years has no doubt seen a significant shift in how deals are managed. Years ago, real estate professional had to maintain large paper files on all of the properties they managed while trying to scroll through their Rolodex of industry contacts and clientele. Today, things are different.
Now, the majority of properties are managed online, with agents leveraging fast and reliable digital communication and client management solutions to expedite their processes. This also includes leveraging publicized industry insights, including popular design trends and being able to quickly access comparable sales information for the markets they service.
The real estate industry of today is now heavily driven by market analytics. Powerful AI-driven technologies are helping professionals leverage important metrics about both their potential clientele and consumer buying habits. This gives them the room to develop effective property management strategies as well as leading to much more accurate home remodel valuations.
New Technology Tools That Can Streamline Your Real Estate Workflows
Transforming Property Showcasing with VR and AR
In the past, real estate agents would rely on pamphlets of physical showings to give their clients the perspective they needed when evaluating properties. But while this is still the way many industry professionals work with their clients, new technology is making this process even more easy and effective.
Now, virtual and augmented reality (VR and AR) have made it possible to create highly engaging property showings right from the comfort of a client’s home. These cutting-edge technologies provide a unique platform that allows buyers to experience highly realistic virtual tours of properties while being fully immersed in their surroundings.
Augmenting reality tools also lets clients experience what a property would look like with their own personal touches. This works by digitally overlaying furniture or other design choices in various rooms so that it’s easier to visualize the property’s layout, design options, and customization opportunities.
Leveraging Insights through Big Data and Analytics
Big data and analytics platforms have made their way into nearly every element of business operations. This is especially the case in the real estate sector, where property sales are heavily driven by emerging market trends and the relevant needs of modern home owners.
Real estate professionals are able to leverage these tools to help them drive many of their property management decisions. Whether it’s the best time for their clients to buy or keep an eye on potential increases or declines that need to be consider, strategically using analyzed data can be a game-changer when large financial investments are on the line.
Disruptive Artificial Intelligence (AI) and Machine Learning (ML) Technologies
Working in real estate can be exhausting and requires a lot of effort in managing schedules and prioritizing certain initiatives. Because of this, many industry professionals need to hire teams of individuals or, at the very least, a personal assistant to help them manage everything. However, Artificial Intelligence (AI) and Machine Learning (ML) technologies and shifting this dynamic.
Now, real estate professionals can make use of AI tools to help them tackle a number of different repetitive tasks while also helping them automatically schedule their appointments. For larger real estate agencies, AI-driven chatbots can help to quickly answer questions from clients or help to close deals more quickly using machine learning technologies that are able to recognize and respond to human inputs.
Revolutionizing Real Estate with Smart IoT Solutions
The popularity of smart home device integration has made the Internet of Things (IoT) a valuable tool for real estate professionals. This technology provides agents with the ability to monitor and manage energy consumption, home security, and many other property features in preparation for showings or when showcasing the value of these additions to potential buyers.
Streamlining Client Management with CRM Tools
Many businesses are now using CRM (Customer Relationship Management) platforms to help manage their client relationships more effectively. These can be invaluable tools for real estate professionals, considering the number of contacts and ongoing contracts they have to manage. Instead of needing to manually keep track of different calls or emails, these tools automatically organize and store dialogues so they can be easily referre to when needed.
More than just a great organization tool, though, CRM platforms come with powerful tools to help you automate other parts of the business that rely on accurate customer information. These solutions can be integrate with other digital platforms to create one unified view of the businesses while helping to streamline lead pipelines.
Utilizing Drones for Aerial Photography
Drones have been another great technology addition for real estate professionals when improving how properties are showcase. Real estate professionals can now personally capture detailed aerial views, providing potential buyers with a clear view of the property and its surrounding area. This helps to save considerable costs on hiring professional photographers and can also create a more engaging property showing when clients are on site.
Making Use of 3D Printing
While blueprints and building schematics can help to give remote or commercial clients a good idea of what the finished product of a new property build might look like, they’re often hard to fully visualize. 3D printing has greatly improved real estate presentations by eliminating the reliance on traditional floorplans and introducing more detailed, tangible miniatures of properties.
This improvement allows potential buyers to more easily imagine the spaces and visualize their use of the layout or potential remodeling projects they might want to take on.
Leverage Technology for a More Efficient and Productive Real Estate Workflow
The real estate sector is changing fast, with many new and exciting advancements being introduce as technology improves. By leveraging these new tools and solutions, real estate professionals can give themselves a distinct edge over the competition while simplifying their daily processes and providing their clients with the fast and reliable service they’ve come to expect.
Author Information
Author Name: Michael Alladawi
Author Bio:
Michael Alladawi, CEO & Founder of Revive Real Estate, is a Southern California real estate veteran with a proven track record as a builder, investor, and respected home flipper. Michael created Revive Real Estate to share his industry knowledge and help homeowners maximize their profits when selling their homes. Michael’s passion for his work is as big as his desire to create lasting partnerships. For Michael, it all comes down to how much value one offers, both in business and life relationships.
Author Headshot:
