To become successful in today’s real estate market, it is necessary to utilize technology to its fullest potential and implement systems whenever possible. Using the right technologies can save time and money, and ultimately lead to greater earnings. Scroll down for the whole story
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If you have not already adopted various technologies as essential to your real estate business, now is the time to start. Not only will this keep you in touch with your clients – as most are just as or more technologically savvy than the average real estate agent – it will also allow you to stay competitive with the other agents out there.
According to a recent study by Keller Williams, 68 percent of all new agents are under 35 years old, and 32 percent are under 25. This generation grew up with technology. They understand it, and they use it every single day – in their personal life and in their business.
In order to compete with this up-and-coming influx of new, tech-oriented agents, there are a few key strategies you can execute in bringing your real estate business up to the standards of the Digital Age.
- Going Digital
- Inbound Marketing
- Social Media
If you are still are pushing papers around, filing documents by hand, and getting forms signed in-person, you are falling behind. Going digital with your real estate business – if you have not already – is probably the best place to start.
Using a real estate transaction management system gives you the ability to go paperless. You can upload all of your documents, organize all of your contacts, and allow guest access in order to share files with your clients, broker or team.
This eliminates time, stress, and money that would otherwise be spent on physically getting documents approved or reviewed by mail, or the endless tracking of emails between your clients, your broker and you. With the right transaction management system, you can keep all of your files and communications on one platform – accessible from anywhere and at anytime.
In addition to transaction management software, electronic signature services such as DocuSign are invaluable to agents. It saves them the cost and effort of printing and mailing documents for approval, and it saves them an enormous amount of time, as documents can be signed instantly via email.
Inbound Marketing – as opposed to Outbound Marketing – costs less, and it attracts customers to you, not the other way around. Instead of projecting your image to hundreds or thousands of “prospective” customers, most of which will completely ignore your efforts, you are attracting customers that are already interested in the services that you have to offer by producing engaging content.
Writing blogs, ebooks, and staying on top of social media gets your name out there, establishes your brand as an expert in the market, and is fairly inexpensive. According to HubSpot, inbound marketing strategies cost 61 percent less per lead than outbound marketing practices, such as print mailers, newspaper ads, and billboards.
Inbound marketing requires effort, and you must be consistent. By releasing new content on a daily basis, you are keeping your audience (and prospective clients) engaged, and they can see that you possess a significant amount of knowledge on the real estate market through your insightful and timely posts.
Maintaining an active presence on social media ties in closely with inbound marketing. Social media is inexpensive – often free, and it’s something that you probably do in your own free time anyway.
It is estimated that 89 percent of real estate agents use social media in their personal lives, and 92 percent own smartphones. So, put them to good use! Your customers are on social media too – interact with them, engage them, make your presence known. According to Social B2B, 55 percent of consumers use social media as a source of information, and 75 percent use it as part of the purchasing process.
“Facebook is a big piece of my business…I can probably close fifteen properties in a year easily just by doing my normal Facebook stuff. I’m not even asking for referrals.” – Dennis Hubbard, Real Estate Agent at Real Estate One in Livonia, MI & Realty Commander User
Roughly 20 percent of real estate referrals come from social media. It is an easy way to interact with potential clients, generate leads, and stay on top of what’s going on in the lives of your customers.
These are just three key steps that you can take in moving your real estate business ahead with the future and keeping up with the times. Stay tuned to the Realty Commander blog for news on the latest technologies and strategies for real estate professionals.