The integration of technology into real estate is a movement backed up by massive, global funding. Its product is a rapid and continued development of new tools. These tools, such as real flexible housing websites and professional property management platforms, intend to improve business whether for companies or brokers. The dramatic shifts in the industry brought about by new technology force brokers to adapt quickly to avoid the risks of becoming obsolete.
There exists also a pressure to keep pace with the changing buying behavior of customers. The way they identify locations or neighborhoods to live in and select properties to view are now doable through their phones. Historically, a real estate broker facilitates each of these steps, but today, technology allows buyers to do these on their own. At an age when property buyers and sellers are more empowered, people now wonder: will technology fully replace the real estate broker?
The role of a real estate broker goes beyond finding the right house or condo for a client. A broker’s job is about being the client’s representative throughout the process. One of the biggest advantages of working with a broker is their understanding of the legal and ethical aspects of real estate dealings.
The most successful brokers view the technology that is before them as opportunities to better serve their clients. There are three ways a broker can leverage technology and play a crucial role in this age of real estate tech.
Real estate brokers can provide expert insight into the property market
The real estate industry is teeming with data. Many of today’s buyers can find information on market fundamentals, trends, and property development online. But the question of who will translate this data for them remains.
Real estate brokers can not only interpret data but also predict future trends based on them. Brokers can estimate the value of real estate in a particular location – something that many modern day buyers ask about.
Real estate brokers can use social media for marketing efforts
Many home sellers today use social media, because of its wide market reach. Social media sites function as one massive marketplace. They open up marketing opportunities towards a specified target audience.
The effective use of social media in real estate is to make home buying more experiential. It requires a well-thought out strategy that improves efficiency and encourages engagement. When done well, the result is a greater reach of potential clients.
Real estate brokers can guarantee quality customer service
The biggest difference between real estate technology and a broker is simple: only one of them is human. In the age of real estate tech, the broker can guarantee customer service. They can take urgent phone calls and set meetings. They can understand their clients’ buying intentions and work around their sentiments.
Even as technology is making things more convenient for clients, brokers are capable of delivering specific guidance and customer service.
New tools are drastically reshaping real estate processes, but brokers should not feel threatened by them. Rather, they must remember their roles – one that only they can play – as they grow their business in this age of technology.