Like most industries, real estate has experienced major changes in day-to-day operations due to varied technological advancements. Sure, realtors still have to actually drive the for sale sign into the lawn, but tech tools can streamline other processes.
Here are five tech tools realtors should consider adding to their toolboxes.
1. Real Estate News Sites
Having the latest updates in the real estate market at your fingertips can solidify your reputation as a knowledgeable realtor. You should regularly check in on reputable mortgage news or general realty sites such as Mortgage Research Center.
Doing so can give you the ability to more intelligently advise on both the current and future state of the market. Knowing how the rise of remote work has affected housing trends and other modern considerations can help realtors assess client needs.
Real estate news sites can provide valuable quick reference information regarding current interest rates and trends. Being up to date on the hard numbers can help realtors better suggest selling prices and other big client decisions.
2. Virtual Showings
In today’s digital world, remote viewing options have become common and almost expected. Especially in situations where a homebuyer is currently located far away from the property for sale, virtual showings can be a game changer.
There are two main ways to go about this. The first option is to film a basic walk through of a property and post it online. That gives all potential buyers the same footage to view when they’re checking out a listing. In this case, it’s best to make the showing as brief and high quality as possible. For realtors wanting to explore this, it’s important to have a high quality video camera and video editing software.
The second option for a virtual showing is more individualistic in nature. An interested buyer might request a personal virtual showing where the realtor will livestream video as they walk through the house. The home buyer watches the tour video in real time. This provides them the opportunity to ask questions during the tour and request certain things be filmed with more detail.
For livestreamed showings, realtors will need recording equipment with both quality video and audio capabilities. Many modern smartphones possess both, so it’s good to invest in a cell phone with good reviews for recording.
3. Digital Signature Software
Running pieces of paper all over town burns valuable time, and fax machines are quickly becoming a thing of the past. With the mountain of paperwork and signatures typically required to complete a home sale and purchase, digital is the way to go.
Docusign is usually the first example that comes to mind when discussing e-signing apps. For realtors, it’s a solid choice for handling the dozens or possibly hundreds of documents flying back and forth. It also has several useful integrations such as automatically sending contracts for signature once a client completes a certain trigger document.
For those who don’t have the sheer volume of documents in the queue at any given time, simpler options may suffice. Adobe offers a very simple signature option without bells and whistles. There are also pay-as-you-go options such as eSignatures.io.
Whatever option you choose, just make sure the process is easy for all concerned parties. A smooth home buying or selling experience is what will gain word of mouth recommendations in the future.
4. Virtual Staging
Virtual staging can be a useful tool to use in certain, but not all, situations. Used effectively, it can help move properties quickly.
Virtual staging is when photos of a home are taken and then digitally altered to change the furniture or interior design. Some realtors might purchase their own software to do this, and others might send photos off to a graphic designer. Both have pros and cons in terms of cost and time savings.
Virtual staging is most effective for empty homes in median price ranges. Low priced or fixer upper homes usually require the right price rather than the buyer being able to picture themselves in the home. For high-end homes, spending the money for genuine staging might be a worthwhile investment to get the highest offers.
For homes in the pricing sweet spot, virtual staging can capture buyers’ interest as they scroll through home after home on listing websites. Furniture can change both the overall aesthetic of a home but also make rooms appear larger. Just make sure to note on your site that the home has been virtually staged. Failing to do so could yield a negative surprise when an interested party comes to see the home in person.
5. Email Tracking Software
Realtors conduct a lot of correspondence through email. After a flurry of messages to banks, clients, and fellow realtors, you might be at a standstill while you wait for responses. The old adage “knowledge is power” is true, especially when it comes to knowing if your email has been opened.
Enter email tracking software. Some of the more popular ones include MixMax and Mailtag. Most are geared toward marketers, but the ability to track correspondence is beneficial to a variety of industries.
For example, a realtor might send an email to an inspector to inquire about booking a home inspection. If the email remains unopened for 24 hours, the realtor might send a follow up text or contact an alternate inspector. If the email has been opened, the realtor might hold off for a few additional hours to wait for a reply.
Work Smarter, Not Harder
Separating yourself from competing realtors is all about the client experience. If you present yourself as a knowledgeable authority and provide the most up-to-date tech options, your clients will notice. So look at your suite of realtor small business tech tools and make sure they’re all putting you at the forefront of the industry. If not, make the changes you need to create a process that keeps the closing and referral pipelines running.
