How technology is changing the real estate industry

    In a crowded market, selling or letting out your property can be a challenge.

    However, tech is having an incredible impact on the real estate industry. It’s not just changing the way you live, work, and play but how you reach your landlord and seller goals. There are many exciting tech platforms and services popping up on the scene. Whether you’re a landlord looking to connect to or manage a tenant or a seller in need of buyer interest for your home, tech is rising up to save the day. Seeff explores the game-changing tech you may come across at some of our branches.

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    Virtual tours

    Thanks to virtual reality, your potential buyer or tenant doesn’t even need to view a property before they sign on the dotted line. Virtual tours place you inside a property and allow you to navigate it with just a few clicks or taps on your device. 

    During the COVID-19 lockdown, virtual tours became very popular for those on the property hunt to view options from the comfort and safety of their homes. As time goes on, these tours are becoming more advanced to give an exceptionally realistic view of a property.

    Virtual valuations

    A property valuation is important to know how much your home is worth so you can price it strategically. Another result of lockdown is that virtual valuations have become more popular. With cutting-edge technology, a property practitioner can do a full appraisal of your home. It takes just a video call and a few questions. Not only does it take the stress off you as a seller, but it also gives property practitioners more flexibility to work remotely. 

    Personalised advertising

    Today’s average consumer has become increasingly tech-savvy. They’re looking for tailored authentic messaging with a value proposition they can relate to. Personalised advertising is doing just that. As a landlord or seller, you can showcase your property to the right person, at the right time, with the right content about your property. 

    Flow Agency is a popular proptech company that produces personalised adverts for real estate agencies. The tech platform can create a range of property adverts on Facebook, Instagram and millions of websites, delivering buyer and tenant leads to your property practitioner. And by being qualified, these leads are more likely to convert.

    Inbound marketing

    Inbound marketing takes a strategic approach to creating valuable content that meets the needs of your target audience. In doing so, it inspires long-term customer relationships. While this is nothing new, the way real estate businesses are using this has become sophisticated through advanced tech.

    Seeff’s Homestyle blog, for example, has content that can assist a homeowner or seller at different parts of their real estate journey. They will receive timely emails and adverts that help nurture and empower them on the way to selling their property or creating a beautiful home.

    Automated rental payments

    Another way technology is changing real estate is by making the rental payment process simpler, faster, and more efficient. A mismanaged landlord-tenant relationship in this respect can spell disaster for either party. 

    Property management software like PayProp is meeting the needs of the rental industry. It provides a secure platform for tenants to pay and review their payment history. It also sends them reminders to ensure they stay on track. For landlords, it automates tenant invoicing and payment notifications. It can also catch arrears before they become a problem and provide a good assessment of potential tenants using traditional credit scores and rental payment data. 

    Communication platforms

    Forget about calling a potential seller. Forget about sending notices to tenants using posted letters. Technology has evolved in ways that enhance your communication. 

    At Seeff, WhatsApp is a widely used tool to share text messages, voice notes, pictures, and documents related to properties with clients. It’s also used for internal communication. The immediacy and simplicity of this messaging provides a channel where business can be done effortlessly. Besides WhatsApp, social media platforms are commonly used to touch base with clients on a hyperlocal level. 

    Real estate data

    Data is the lifeblood of successful real estate businesses. As a seller or landlord, you’ll likely turn to a property practitioner who will use data to price your property, understand your neighbourhood, and pinpoint your ideal buyer or tenant. Technology is helping to facilitate accurate data reports. Lightstone, for example, automatically generates an online report with information about the property, location, amenities, and a snapshot of property transfers in the area.

    With tech, reach your buyer or tenant successfully

    real estate agreement via technology

    Selling or letting your property can be a challenge. However, tech platforms and services like these can help you succeed. Seeff is proud to be at the forefront of real estate technology, and we welcome you to put our strategies to the test. Contact your local branch to get started.

    Author: Seeff Property Group
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