While they are still slightly below historical norms, sales of existing homes rose to their highest levels in the last nine years this May, according to the National Association of Realtors, underlining strong demand amidst steady job creation and low interests.
Technology continues to be a facilitator for a change in basically every industry, and the real estate market is no exception. Millennials are driving much of the technological innovation in the real estate industry, and according to Joel Marcus, the CEO of Alexandria REP, which specializes in science campuses, millennials already comprise more than 40 percent of the workforce.
By 2025, Marcus predicts that millennials will account for roughly 75 percent of the workforce.
Simply put: These are the professionals and the homebuyers of the future, and they are used to having information available at all times. Here are a handful of tools that take real estate to the next level.
1. 10MinRealty
One of the biggest problems agents face is managing requests to view properties, and many agents who struggle to keep up with the demand often lose many potential clients.
10MinRealty is an on-demand home showing app that is able to connect real estate agents and potential homebuyers instantly.
2. CamScanner
Many real estate agents have to rush to their office to scan and send documents to clients at least once a day. With CamScanner, they can use a smartphone camera to scan anything and convert it to a PDF file.
Auto-enhancing and smart cropping features make the text as clear as it would be if you scanned the document back at the office.
3. RPR Mobile
This app allows users to access the power of Realtors Property Resource with their smartphones so that they can answer any question lobbed at them. With RPR Mobile, you can view sales activates and local market statistics as well as search properties.
The app also lets you create branded reports with your logo, photo and contact information and easily share them with the rest of the world.
4. PalmAgent
PalmAgent offers the ability to run quick estimates and closing costs for both buyers and sellers.
The estimates are accurate because PalmAgent is preloaded with county-specific closing costs, title rates, lender fees and city-specific property tax rates.
If you spend too much time deciphering clients’ handwriting and manually entering all of the data into spreadsheets, this is the right app for you.
Open Home will help you get clear information from clients and let you add notes and client comments as they come through the house. It also sends automatic follow-up emails to potential clients, which can save you a lot of time.
While part-time agents have the luxury of freedom and flexibility, they often miss out on financial opportunities.
If you are running a serious real estate agency, you know that scheduling conflicts and shift changes are bound to happen. Scheduling software like ShiftPlanning eliminates spreadsheets and allows you to create a full schedule in 10 minutes or less.
The practical Sun Seeker uses GPS to display the position and the path of the sun, no matter where you are located on the planet.
The app can be especially helpful on rainy or overcast days, when your buyers are trying to get a feel for how much natural light the property is regularly exposed to. It can also help you plan property photo shoots.
When you are just starting out in the real estate world, you know that time is money; with a good device and few pieces of software, you can easily conquer your daily tasks and have a lot of more time on your hands.
These apps can help you become more productive, better informed and allow you to run your business from anywhere.
Oscar Waterworth is the editor of Bizzmarkblog. Find him on Twitter or Facebook.