Surviving in the real estate industry without relying on technology is a challenge in today’s modern, competitive business world. As a real estate agent, if you continue to use dated and obsolete methods, it won’t be long before your competitors capitalize on the potentials of modern technology, leaving you on the verge of bankruptcy. No matter where you are, becoming technologically advanced is a must because it can help your business in a variety of ways. Harvesting the potential of modern technology can take your business to new heights, especially in an advanced metropolis like Dubai, where the real estate industry is on the rise.
Higher and better leads
Making your real estate business more technologically advanced can help you generate more leads. And the more leads there are, the better the chances of getting a high return. For example, when you use technology to benefit your business, you gain access to real data. This allows for more precise targeting, which leads to increased lead generation.
If a company wants to thrive in the market, it must earn customers’ trust and create brand loyalty, whether it is a development firm or a real estate agency. This is made possible through branding. There are numerous approaches that businesses can take to build a brand, but the importance of technological advancement cannot be overstated. Technology can assist businesses in growing and prospering. It aids in the development of relationships within and outside of organizations, increases their effectiveness, and has a significant impact on how organizations communicate with their current and prospective customers.
Enhanced customer service
Customers now expect problems to be resolved quickly. They would not waste time talking to your competitors if your response was delayed because they have multiple options. This will result in a revenue loss, which is a major concern for any company. For example, if you own a real estate agency, losing a client to a competitor can be a significant loss because a client not only brings commission but also creates referrals for you. You can keep prospective customers if you provide prompt and effective customer service. For example, you can program automated responses to help your clients get the answers they need when you are unable to personally assist them. Of course, the human touch will be lacking, but it will be far superior to simply hearing bells ringing in their ears if they dialed your company’s number. You can use the same strategy on your company’s website and social media channels. There are chatbots available for this purpose. You can use them to keep your audience engaged even if you are not available to personally respond to their questions.
Higher conversion rates
Lead generation is undeniably important, but converting those leads into clients/customers is where businesses really benefit. Your conversion rate is determined by the number of leads you can convert into customers. A higher conversion rate translates into more profit. Making your real estate business more tech-savvy can help you increase conversion rates and gain more clients/customers. For example, if you’re a developer or a real estate agent, you can use 3D technology to give prospective buyers or clients a virtual tour of the property. They will have a better idea of the final product this way. As a result, the chances of selling the property increase.
How to make your business technology enhanced in the real estate market?
Provide virtual tours
Top developers and real estate firms that want to provide a better experience for their customers now offer virtual tours of their listings. This eliminates the hassle of traveling to the property only to discard it later because it does not meet the buyer/requirements. Renter’s, As previously stated, virtual or 3D tours allow your clients to visualize the layout and design of the property from the comfort of their own homes.
This is a must-have feature on your website if you are a property developer looking to sell off-plan properties. Real estate agents can also benefit greatly from this feature.
You can use one on your website to respond to prospective customers’ questions in a timely manner. Another approach, which is popular on Facebook, is to create a series of questions related to your listings. The user then taps on the pertinent question, and the answer is displayed in front of them. You can include a strong call to action with your response. This increases the likelihood of lead generation.
Digitize your tasks
Real estate agents, developers, property managers, and other experts in this field must perform repetitive tasks on a regular basis. For example, if an agent sells a house, they must complete a large amount of paperwork. You can solve this problem by using a software program to automate your tasks. This not only organizes the business but also keeps all of your data and resources in one place.
Concentrate on geolocation & localization
People are increasingly turning to property portals rather than real estate agents. As a result, more agents are concentrating on local property marketing in order to increase the value of their services. Geolocation is the most recent real estate technology advancement, assisting agents in focusing on the most pressing marketing need. It pinpoints the exact location and visualizes key elements such as country maps, flood zone maps, property data, terrain, and so on.