The field of real estate is just like any other industry that continues to evolve. To maintain relevancy and utility, agents must continually assess and respond to the industry’s needs and demands. Nowhere is this more true than in the realm of technology. Real estate professionals can provide innovative solutions to their clients by staying up on the latest trends and resources available to them. Whether you are in the market to buy a home or sell your existing home, below are four innovations for 2021 to watch for.
Gone are the days where real estate agents could simply have a Facebook page and consider their marketing efforts done. Today, agents should be active across multiple social media and digital marketing platforms. 2021 agents maintain Facebook, Instagram, Twitter, and YouTube as a means to cast a wider net and reach a wider audience. From Facebook or Instagram Lives to complete property walk-throughs housed on YouTube, active digital marketing is a must.
In addition to the marketing accessibility these social media platforms tout, they also offer additional ways for prospective clients to message and communicate with real estate professionals. According to HousingWire.com, research found at the onset of the pandemic, 41% of people who still planned to purchase a home reported an increase in remote communication with their agents including text, email, phone, and video. Consumer expectations for agent accessibility and outreach are high. Agents and brokers need solutions that will connect them with consumers within seconds. This is particularly true of military-connected families who may require remote transactions due to PCS moves.
Rising Need for Real Estate Automation
With the onset of pandemic living, more and more prospective buyers and sellers are showing a preference for real estate closings to be done remotely as well as any paperwork to be handled digitally. Not only can marketing and sales benefit from automating processes, but overall business operations can be more efficient, allowing more time and focus on relationships between clients and real estate agents. From lead generation to data tracking and contract transaction management, the more automation, the better. Integrating as many processes as possible allows agents to better see the needs of buyers and sellers.
Virtual Staging and AI
In the past, many homeowners have tried staging their homes on their own or paying a professional stager to come physically to the home to stage it for real estate photos or showings. Now, services like virtual staging can offer almost instant (and no contact) digital imagery showcasing a home’s interior. Most companies charge by the photo or by the room and can have turn-around times within a day. No heavy furniture moving or storage facility rentals are needed.
Additionally, artificial intelligence (AI) refers to a type of technology that can draw logical conclusions on its own. It uses sophisticated algorithms and predictive analytics to make educated guesses about future behavior especially when it comes to property valuations and transforming the home searching process according to MillionAcres.com.
While innovative solutions abound more and more, these mentioned as well as many others are all wonderful additions to a real estate agent’s arsenal of tools. However, no matter what technology can do, there is nothing that can replace or reproduce the one-on-one personal relationship of a real estate agent and client.