If you’re in the real estate business, you’re probably well aware that we’re deep in the midst of an aggressive seller’s market. Even with the average price of real estate being well-above market value, homes are selling like snow cones in July. And this trend is showing no signs of slowing down.
So how do you take advantage of this situation as a real estate agent? The answer is by using the available digital tools that have seen an upward tick in the adoption of innovative technology.
Today’s digital landscape is vast, and it’s evolving at a rapid pace. If you’re not on board now, learning and mastering these tools, you actually might risk falling behind in your game as a realtor.
If you’d like to close on more deals and take advantage of the seller’s market before it slows down, the following will explore a few digital tools that all realtors should be using.
In March of 2020, we all saw how the world shut down as the COVID-19 pandemic took hold of the entire globe. This was the catalyst that launched many companies into using digital tools for the sake of staying in business, and this included the real estate space.
VR modeling, or VR storytelling, as it is often referred to, is the ability of a company to showcase goods or services through virtual reality.
Basically, you can show homes all day long to a prospective buyer without ever having to meet them in person or visit the home physically. VR modeling allows a buyer to view an entire property and take a virtual tour of the property all from the comfort of their home, on a smartphone, tablet, laptop, or any other device.
And as people are still apprehensive about going out in public amid consecutive waves of COVID-19 variants, VR storytelling is only going to get more popular and user-friendly.
Big real estate companies have been taking advantage of big data for close to a decade now. And this is simply the ability to compile large quantities of data about a specific property, or neighborhood, that could sway a buyer’s decision.
Companies like Zillow and Realtor have been using big data to compile information to make informed decisions on buying and selling trends in a specific region. With the use of form-fills and landing pages, these companies can track customer habits in a specific area.
Big data makes it easier for a realtor to make big decisions, and these decisions are critical to luring in a buyer and knowing which buttons to press to ultimately land a sale. Big data can even be used for beefing up your efforts with real estate social media marketing, and other online marketing efforts.
AI and Machine Learning
You might think of artificial intelligence as the stuff of Hollywood, but it’s quite real in our technologically advanced society. In fact, advances in machine learning have led to doubling ROI in many sectors within the marketing space, as these machines become better able to predict buyer behavior.
If you have a smartphone, every time you speak, your phone hears it. For example, if you have a conversation at lunch with a group of friends and you begin talking about how you love Nike products, chances are the next time you pick up your phone and begin browsing Facebook or Google, you’ll see Nike ads.
Machine learning isn’t just about eavesdropping or tracking our browsing behavior, it’s about creating a profile that other companies can acquire in order to hopefully lure you into a sales funnel, or to create a lead.
Realtors can take advantage of these tools as well, to get an inside look at the type of properties a buyer is looking for… This just goes to show you how advertising has changed over the years, especially in real estate marketing.
No matter where you’re at in your career as a realtor, taking advantage of the digital tools available today will only ensure that you’ll be on track to a few large commissions in the near future.