There’s a good chance that you’ve heard about the rise of property technology in real estate sales. This new technology is changing how agents and brokers market their properties, but it also has the potential to change how we buy and sell homes.
Proptech is the use of technology to improve the real estate industry. It can help agents sell more properties, be more productive, save money and provide better service. Proptech tools include:
- Technology that allows you to access your listings from anywhere at any time
- Online tools that make it easier for buyers and sellers to connect
- Mobile apps for agents’ smartphones or tablets that allow them to do their jobs on the go
Although there are still many questions surrounding proptech and its potential impact on the industry, there’s no doubt that it will continue to be increasingly important. It is especially true as more people move into cities or start looking at buying their first home—or second or third.
In this article, we’ll explore what exactly property technology means, why it matters so much right now, plus some examples of how technology is already being used by agents so far.
1. Virtual tours
Virtual tours are a great way to advertise your property without visiting it. They can be used for commercial and residential properties, and they’re perfect for showcasing the best parts of your home or business—like a kitchen with stainless steel appliances or an open-concept floor plan.
Virtual tours are also a great way to attract potential buyers who aren’t sure what they want. If you’re selling an apartment building, virtual tour footage would show off all its amenities in high definition. If you’re selling luxury condos in downtown Los Angeles, this video could show where residents can walk out onto balconies.
Automation uses machines, especially computers, to do things humans would otherwise do. Agents have used automation for years to save time and money on marketing materials, listing services, and other administrative tasks.
Automation can help agents sell more properties in 2023 because it allows them to spend less time doing clerical work and more time with clients interested in buying or selling homes. Agents who use automation have higher customer satisfaction rates than those who don’t—and this will only increase as more buyers become technology-savvy.
3. Cloud-based software
Cloud-based software is becoming more and more popular in the real estate industry. Cloud computing allows you to access your data from anywhere, so you can work on it at home or on the go. Agents don’t have to worry about lugging their laptops or tablets everywhere.
However, there are some downsides to using cloud-based services: firstly, they’re not always as reliable as traditional on-premise solutions; secondly, they require more maintenance than other types of technology; thirdly and possibly most importantly—they cost money.
Real estate agents should consider whether or not these factors outweigh their cost savings when choosing which type of technology works best for them.
4. Virtual open houses
Virtual open houses are a great way to showcase multiple properties at once. It can be especially beneficial for agents with overwhelming listings or trying to sell more than one property quickly. By hosting virtual open houses, agents can save time by presenting the same information on each listing so that buyers know exactly what they’re getting when they visit their local agent’s office.
5. 3D floor plans
3D floor plans are a great way to show off your property and can also be used as a selling tool. The technology allows you to create 3D models of each room in your house so that potential buyers can get an idea of how the space would look with furniture and accessories.
This type of visualization makes it easier for them to visualize where things will be relative to each other. It helps them decide whether or not they want the house before going through with any offers—and if they do decide on making an offer, having this visual aid makes it more likely that their purchase will be successful.
6. Drones for property photography
Drones can take high-quality photos of the property, videos, and photos from different angles. The drones are more affordable than they used to be, which means that real estate agents will have an easier time getting into this technology.
Real estate agents have been using drones for years and have found that they’re an effective way of taking photos (and videos) of their listings that are both professional and unique in terms of the angle at which they’re taken.
7. Virtual reality
Virtual reality (VR) is a great tool for showing potential buyers a property, but it is not the only tool. VR can be used for marketing and sales, design and construction, training, and education.
One of the most common uses of virtual reality is to help customers visualize what their new home will look like before they move in. Using 360-degree video or virtual tours on sites like YouTube or Facebook allows agents to create an immersive experience that lets viewers feel as if they’re present in person—even if they’re sitting far away from the property.
8. AI-powered chatbots
AI-powered chatbots are another way to increase sales by providing information about properties and answering questions about them. The chatbots can be programmed to respond to specific keywords, such as “house” or “rent,” allowing agents to have a more targeted conversation with potential buyers. They’ll also send text messages and emails to keep in touch with clients who cannot come into the office or meet face-to-face with an agent.
9. Smart home technology
Smart home technology allows agents to show properties remotely, so they don’t have to go through the hassle of driving around town and showing houses from their cars. It also means that people looking at homes online or on their phones can get more information about a property before even visiting it in person.
Houses with smart locks and alarms installed in each room will make potential buyers feel safe, knowing that nothing could happen while they’re away from their homes. If someone does break into the property (which isn’t likely), there will be plenty of warning signs before anything bad happens, so no one gets hurt.
10. Online document management
Document management software is a must-have for any real estate agent. It allows them to organize, store and share documents with clients easily.
The benefits of using document management software include the following:
- Easier access by agents and their team members when it comes to viewing and sharing information about properties they are selling or listing. It allows them to communicate more effectively with their clients while making life easier for themselves.
- The ability to collaborate with other agents from different companies to create a cohesive brand identity among all parties involved (i.e., buyers).
- The ability to create a more cohesive brand image for the organization by allowing agents from different companies to collaborate on projects. It helps make it easier for clients to identify the right agent or agency that can best meet their needs.
11. Big data in real estate
In real estate, big data is a collection of large amounts of data that can be analyzed to discover patterns, trends, and associations, especially relating to human behavior and interactions. Real estate agents use big data to understand the market and find the right buyer for their clients.
Real estate professionals have long been using technology in their practices. They have used it to track and understand buyer behavior, predict future trends in the housing market, and more. However, it wasn’t until recently, when they began applying analytics tools such as machine learning algorithms, that they could truly see the impact these tools have had on their businesses.
12. Contactless showings
Contactless showings are a new way to show properties. Agents can show the property to multiple buyers simultaneously, and buyers can see the property on their phones or tablet. They can also use their phone to open the front door and turn on lights.
This technology will be particularly important for agents in high-demand areas where home prices are rising rapidly. In cities like Seattle or San Francisco, houses are often sold within weeks of going on sale. If you’re an agent looking for ways to sell more houses quickly and don’t want your clients walking away from appointments because they’ve forgotten something at home, contactless showings may be just what you need.
We’ve seen many new technologies come up over the last few years, and they seem to be getting more advanced. It’s exciting to think about how much tech might change how we use real estate in 2023. We can only imagine what it will look like—but one thing is certain: people are already using new technologies daily to improve their business practices and make their jobs easier.
We hope you found this blog post on 12 Ways real estate agents are using technology to sell more properties in 2023 useful. Be sure to check out our post on Why Choose A Real Estate Agent To Sell A House? for more great tips!
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