The word disruption has sailed around real estate for over a decade. We’re constantly anticipating its influence on the way we do business.
Several events over the past 10 years have significantly changed the real estate landscape. The economy has reached all-time high after the Great Recession. A tech boom introduced new ways of working in real estate, and new consumer expectations. And a new generation of buyers has entered the market, forcing us to rethink the way we do business.
The result is a rapidly growing class of what I like to call “empowered agents” who embrace disruption and leverage technology to generate more leads, close more sales and turn a higher profit. They are changing the industry –- and it’s time we learned from them and what they do.
Below are six ways these savvy agents leverage technology to ensure their ride on real estate’s lead wave.
Use data to win listings
Empowered agents aren’t afraid of big data; in fact, they run toward it. For example, listing agents now have the tools to discover where buyers in any given neighborhood come from, helping them efficiently market homes.
This gives agents an extra edge when competing for listings with other agents.
Embrace new media to generate leads
It may go without saying that Facebook and other social networks are a must-use tool for real estate agents. But it’s no longer enough to be a passive member. With personalization and geo-targeting, empowered agents market listings directly to the consumers most likely to buy, saving them time and money.
Refine consumer experiences that close leads faster and at higher rates
Empowered agents use technology to become more efficient and effective. From managing leads to streamlining the transaction process, these agents link tech with personal touch to deliver the service their customers want.
Become multi-modal
Today, agents can connect with clients from anywhere in the world. Realtors can hold open houses with virtual reality platforms. They can hold a face-to-face meeting with an out-of-town buyer or seller through Skype.
Empowered agents communicate with their clients the way they prefer, whether that’s email, text or FaceTime.
Connect to multiple communities of consumers and agents
Social networks such as Nextdoor and Facebook Groups foster communities that help members connect on a deeper level. These networks are looking to brands and other industry organizations to build their network of peers nationally and around the world.
These tools make it easier than ever to build relationships with clients, other agents and brokers by facilitating participation in a new kind of value exchange.
Leverage support from brokers and brands
Empowered agents don’t do it alone. They look to their brokerages and brands to serve as mentors and as guides to help them leverage emerging trends. They seek coaches to inspire them to do more business.
It can be easy to allow day-to-day concerns consume your attention; taking advantage of these kinds of resources provides perspective.
Disruption applies to all of us, especially when it comes to meeting changing consumer expectations whether it be homebuyers’ demand for smart home technology or consumers’ increasing ability to get anything and everything delivered within 48 hours.
If you’re an agent not doing these things, now is the time to start. If you’re a broker, sharpen your agent value proposition and put your agents first. If your brand isn’t supporting or leading the way, find a new brand.
Will you adjust or let disruption overtake you? The choice is yours. The future of our industry and your business depend on it.