Obviously, the internet and mobile phones have a part in realtor’s marketing strategies, but how can that technology be utilized most efficiently to help home sales?
“Selling your home now is quite a bit different than it was ten years ago,” says an article from the realty team at Green Residential. “It used to be that agents talked to other agents, and consumers didn’t do much. The most they did was drive down streets looking for great deals. Now, homeowners pick up their phones, tablets, or laptops to peruse pictures and look for great deals.”
Unarguably, technology is changing the way we rent, buy, and sell real estate. Here are some of the biggest advancements you’ll encounter.
1. Consumers demand smart home technology in new homes.
A recent survey from Coldwell Banker Real Estate revealed that if you want to motivate homebuyers to purchase your home, you need smart home technology.
“Smart homes are solving many consumer and societal needs when you consider all of the security, energy efficiency and entertainment advantages that come along with a connected home,” said Sean Blankenship, chief marketing officer at Coldwell Banker.
“This is why we are taking a leadership stance and working to ensure that Coldwell Banker affiliated sales associates are more aware and understanding of this evolution so they can continue to provide consumers with exceptional experiences.”
According to the study’s findings, consumers are most interested in the following smart home categories:
- Security (65 percent of sales associates agree)
- Temperature control (57 percent)
- Safety (48 percent)
- Lighting (46 percent)
- Entertainment (42 percent)
- Appliances (23 percent)
Findings showed that homes equipped with this tech sell faster, and consumers are willing to spend more in order to get the home they want.
2. Real estate apps make it easier to buy or sell a home without an agent.
Though the use of a real estate agent is highly recommended for finding the perfect house at the right price, many consumers have successfully foregone this expensive option with the use of technology. It’s certainly appealing to get the job done without a real estate agent who will take six percent commission on the price of the home.
Whether you’re a buyer or a seller, there are dozens of apps available to make the entire process easier. Here are some of the most popular:
- Premier Agent
- Mortgage Calculator
- Family Handyman DIY Tip Genius
- Real Estate Dictionary
Consumers can mess around with each of these apps and become more familiar with the listing options, real estate terms, and finer details of buying or selling a home to cut out the middleman.
3. Social sharing makes it easier to discover properties.
Social networks are a useful, and often underutilized tool for spreading the word about a certain property. Facebook, in particular, makes homes more searchable and provides an interconnected platform for realtors and buyers/sellers to connect.
Some realtors don’t see the value of using Facebook to market their properties, but research from Contactually reveals that about 93 percent of the social media traffic from a real estate site comes from Facebook. It’s a great way to generate leads and boost interest in properties.
4. Videos have become a chief marketing tool.
Zillow has set a perfect example of how videos can improve home sales. Their mobile app, Video Walkthrough, gives remote potential buyers a more realistic view of what it’s like to walk through a property in person. The service has seen resounding success; now 85 percent of buyers want videos when looking through a property.
Since videos tend to receive about four times more engagement than any other form of media, it’s no wonder that their use in real estate marketing strategies improves the chances of people making a purchase.
Videos generate a higher return on investment, but initially, they can be costly. “If your video budget is limited, focus on producing community videos and video house tours,” recommends Kathryn Royster, marketing director for HouseLens and contributor for Inman. “Can’t afford both? Find a videographer who can produce videos that combine listings and community information. You’ll still nab the lion’s share of the video audience, but you’ll probably spend less than you would to produce both types of video separately.”
This short list only scratches the surface of how technology has revolutionized the real estate industry. Technology gives clients a better all-around experience, which makes them more inclined to close deals quickly.