Year after year, technology plays a crucial role in disrupting many brick-and-mortar business models, and the real estate industry is no exception.
In today’s tech environment, many real estate brokerages have fully embraced digitization, and consider the technology they use to be a driver of growth in the industry. Brokerages must leverage all of their options to boost operational efficiency and agent productivity. Therefore, it’s extremely important to understand some of the major shifts in the technology sector, in order to stay ahead of the curve. We’ll go over some of the current top tech trends here.
Current Top Tech Trends in Real Estate
It’s a mobile universe
In 2017, NAR reported that 58 percent of buyers found their home on mobile. Mobile usage is continually expected to rise each year, and as more and more “Millennials” and “Generation Z” buyers enter the market, it’s sometimes not enough to simply have a mobile-friendly website — though that is a very good start. The mobile app market is growing right along with the rise in mobile phone usage, and many real estate brokerages and agents are investing in applications. All of TRIBUS’ custom real estate brokerage websites are fully optimized for mobile usage, but you may want to consider a branded real estate app provider like HomeSpotter as well (which our system integrates with).
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Virtual tours could make the difference
A virtual reality tour takes potential client involvement to the next level. Visitors to your site can be taken on a 360-degree immersive experience to view multiple finished site options, or remotely view properties across the globe. This technology isn’t a fad: A recent report by Goldman Sachs indicates that this market could reach a value of at least $80 billion by 2025. At TRIBUS, we’ve got you covered, as all property details pages have an editable virtual tour field that can integrate full 3D tours like Matterport.
Marketing automation
Most agents don’t (or can’t) spend their entire day talking to clients. Unfortunately, the time spent writing emails, entering data, researching leads and going to meetings will add up quickly. The automation of tasks such as lead capturing, scheduling, and marketing can be invaluable, especially when it frees up time for building new relationships. TRIBUS’ own brokerage CRM has a diverse amount of task automation, perhaps none more powerful or useful than its variety of email marketing options.
Predictive analytics are the future
Predictive analytics may change the way real estate brokerages interact with their clients. With sufficient data on a client, brokerages could improve investments, better understand tenant needs or simply mitigate risk overall. This data could also help target potential businesses with real estate products and help build a loyal customer base. Predictive analytic technologies in real estate are still in the early stages, but it’s surely to be successful if adopted in the right way.
