The facilities generated by digital technology make the real estate market constantly reinvent itself and it is important that those involved in this sector to follow the trends in the real estate market. The constant evolution is being shaped by shifting market conditions and changes in consumer behavior and it develops at an alert and demanding pace.
Real estate brokers must follow such technological trends that influence the direction of their work on the real estate market. Real estate broker activity is linked to a large number of daily requests that need to be processed on time and with a maximum possible return.
Here are some technology trends that influence the real estate market:
- The use of smartphones to search for real estate
Internet usage through mobile devices, like smartphones and tablets, has seen strong growth. With the increasingly accessible internet and more and more widespread mobile devices, it is easier to search for real estate via your mobile device. Your client can even now move to real estate and look for more information via its mobile device.
Number of hits on real estate websites via mobile increases, leading to an incredible business potential for those who build their marketing strategy already thinking about this phenomenon.
- The improve of real estate localization
As a result of the technological trend where more and more users are using mobile devices to access information on the real estate market, there is a growing need for the property ads in a certain area to be found by geolocation, that is the result of Google searches or even commercial real estate software, real estate must contain the exact location to be located on the map.
This may lead to conflicting opinions. If a property has a disclosed location, it reveals the portfolio to the competition, or the ultimate buyer can avoid the real estate agent, and buy directly. Such a risk exists indeed, but in terms of competition, it can be solved by offering the best service delivery with personalized information and unique content with an exclusive contract with the owner.
With regard to the customer, all attention must be channeled towards generating complex services in support of both parties: customer-seller and customer-buyer.
According to studies in the field, real estate that localized the address on the map is receiving more visitors than those who do not. This is certainly a technological trend, which shows that it is more advantageous to anticipate and declare the location of their properties to buyers.
- Innovations and digital marketing strategies
In recent years, digital marketing has grown exponentially, increasing the trust of companies, and so more and more is being invested in online marketing, although this is not new. With digital tools, the digital marketing is becoming more mature.
One of the major limitations of traditional marketing has always been to measure return on investment. With digital marketing, this limitation does not exist, because we might know the profitability of each campaign and how it influences the business.
Thus, marketing campaigns on the real estate market become more analytical and thus show the quality of services at a more professional level.
- Increased use of digital platforms
Nowadays, the real estate market is more professional, so, digital marketing requires more complex tools – thus increasing the number of effective transactions generated by the digital environment. Whether these tools are digital real estate platforms that focus more on sales, more on marketing or on the complete business solution, it is already clear to the online market that investing in the right technology is a must.
Combining a series of incredible features that enable real estate agents or real estate agencies to promote, for example, the portfolio of properties to customers over the Internet through a single system over time.
Accessing and using such real estate platforms is not in itself the tendency, but the challenge is to choose the ideal tool for the needs of each broker or agency, with reference to the growing rhythm of digital marketing on the market.
Evolving technology companies on commercial and residential real estate products and services have moved quickly, for the past decade, forcing traditional real estate firms to rethink their core business models and embrace digital innovations.
There are companies that track and analyzes emerging trends in real estate tech for a better understanding of technology’s impact on the industry.
An innovation that is used in this field, is the customer relationship management (CRM) tool, the approach to manage a company’s interaction with current and potential customers. This uses data analysis about customers’ history with a company in order to improve business relationships with customers.
An example is , a sophisticated CRM, and Deal Management tool for the modern commercial broker, built for CRE brokers and agents. REthink CRM reporting allows brokers and executives to have widespread visibility into the CRE business.
- Messaging and video communication for real estate promotions
Digital communication is so easy and, now, customers no longer want to be interrupted from their work and prefer to receive information through messages.
That’s why digital tools such as WhatsApp, Facebook Messenger, Skype, Hangouts are a high-tech real estate trend.
Another technological trend that has boosted in recent years is the use of videos. More and more consumers watch online videos.
Thus, increasingly aware of the importance of this data, it is important to invest in the production of online videos.