Top 5 Tech Tools for Real Estate Professionals
One doesn’t necessarily look at the real estate industry and think that it is inherently tech-driven. Having said that, a number of cutting-edge technologies are changing the sector right now – and they will continue to do so for years to come.
Whether you’re a new real estate professional or a seasoned veteran, technology continues to push the envelope in terms of what is possible and what is typically expected. Understanding the changing shape of things like AI in real estate is the key to using them to your advantage. It can also be beneficial to give yourself a competitive edge, capitalizing on trends before anyone else can take your career to bold new heights.
1. AI-Powered Platforms
Much has been written about the benefits that artificial intelligence has to offer. But AI in real estate is particularly impressive if you’re looking at things from a professional point of view.
AI-powered platforms can be used to effortlessly track sales performance, for example, giving pros access to trends and patterns that may have otherwise gone undiscovered. Real estate professionals can look at their own data to see their strengths and areas they should focus on for improvement. They can look at the sales in a particular market to see if things are heating up or cooling off. They can even get better insight into where the real estate landscape is headed.
2. Virtual Staging Software
When it comes to improving the efficiency of your operations as a real estate professional, it’s hard to find a tool more valuable than virtual staging software. It’s inherently flexible and can absolutely increase the speed at which you can get to market exponentially.
Virtual staging software is also an impressive tool to use to increase your online presence. Remember that the vast majority of people these days are going to start their search for a new home on the Internet. So not only are you trying to raise awareness, but you’re also trying to make a positive first impression and establish yourself as an authority – all at once. Virtual staging software is a great way to accomplish all of this.
Note that virtual staging software isn’t just beneficial for the interior of a property, either. It can also be helpful for making a positive impression regarding exteriors, landscaping, and other elements that potential buyers are paying attention to.
3. Modern-Day CRM Systems
Other industries have been using CRM systems to great effect for years, but now it’s time for real estate professionals to get in on the action.
Customer relationship management tools act as a “single source of truth” for every interaction you have with a client. All your notes about what they’re looking for, what they like, what they dislike, what they need, and more is all in one place that is accessible anywhere, anytime, and from virtually any device. This means that if you’re running a real estate business with multiple team members and different people end up talking to the client, everyone has the same basic information to work from.
Note that CRM systems can also be a great way to maintain records for past clients in the event that they need to refer back to anything. It can also help automate your marketing and even let you know when a certain amount of time has passed since a sale so that you can reach out to someone and ensure that everything is going according to plan.
4. 3D Virtual Tours
Virtual tours gained prominence in no small part due to the COVID-19 pandemic. One of the best ways to sell a house is to help someone visualize what it would be like to live there. For decades, that meant making an in-person visit. With the pandemic, this became impossible. Thankfully, technology increased to allow for virtual tours and “remote” open houses.
But just because the pandemic is behind us doesn’t mean this has all stopped being useful. 3D virtual tours can help create immersive property showcasing experiences for anyone, anywhere, at any time.
If someone works a full-time job and can’t see a house, they can still feel like they’re really there with a 3D virtual tour. Or, if they live halfway across the state (or even the country) and are moving to a new area, they don’t have to attempt to schedule an in-person tour months or even weeks in advance. They can do it right from the comfort of their current home. This opens up a world of new potential buyers for real estate agents and other professionals in an efficient, cost-effective way.
5. The Blockchain
Another key tech tool that is making waves across the real estate industry is one you may have heard about in the news: the blockchain. However, in this case, it has nothing to do with cryptocurrency. The blockchain – that is, a distributed ledger publicly available online – is being used to secure transactions in several ways.
Not only can the blockchain increase visibility for every transaction, but it can also be used to instantly and safely make rental payments, dividend payments to property owners, and more.
Ultimately, these are just a few examples of the innovative tech tools that real estate professionals are putting to good use as we speak. Over the last decade, we’ve seen drones become a ubiquitous part of the property assessment process, allowing professionals to collect more accurate information than ever that would have previously been unavailable to them. Augmented reality has become an invaluable way to visualize architectural plans. The list goes on and on.
The point is that every few years, once people begin to settle into “the way things are done,” technology has a tendency to upend just about everything we think we know about real estate. Those who are able to understand and capitalize on this disruption are able to achieve great success. Those who cannot or who are unwilling to do so are soon left behind by their savvier competitors.
By harnessing these tools, real estate professionals can dramatically streamline their operations. They can deliver enhanced experiences for clients. They can save invaluable funds that can be better utilized elsewhere. They can do all this and more, all at the exact same time – presenting the type of opportunity that is far too important to pass up.