Digitally enriched experiences have emerged as a key marketing tool and knowledge disseminator in nearly every industry and the real estate industry is no exception. The embracing of digital technology transcends distances, opening up the industry to investment from across geographies.
The emerging market is literally and figuratively in the hands of the millenials with the latest hand held digital devices. These are young adults bringing the intensity of their professional life to the search for luxury residences. Target this market through campaigns and inputs through social media.
Mobile apps that connect a critical mass of real estate agents, hand-picked for their intrinsic qualities and ethical standards, could effectively bridge the chasm between digital technology and the real estate industry. The attraction for the investor-buyer is the heightened possibility of a transparent, hassle free deal with no hidden costs and poison pills lurking in the fine print.
Seeing is Believing
Digital technology has a major role to play in convincing those in doubt that what is spoken about is real through the employment of images and videos. High quality videos that are eye-catching, and make for friendly and visually appealing display on smaller screens are far more effective than the richest text content. A walk-through tour of the residential or commercial space is the proverbial icing on the cake.
Finding Tech Savvy Investors
Multiple Listing Services or MLS has long been a preferred tool for discovering business opportunities in the real estate industry. Digital technology offers alternative mechanisms to reach the customer.
word of mouth publicity through well placed blog posts, and posts on social media are an option. Social media posts are preferred for quick responses but, given time, content rich blog posts also deliver commendable results
online advertisements on platforms featuring real estate listings are an effective tool to attract visitors to your home page or preferred landing page
posting of videos and customer reviews on engagement platforms visited by potential property purchasers. Trust is a critical aspect of the property investment decision and a dispassionate viewpoint by a customer would always be favoured by a prospective buyer.
One Stop Solution
Tech savvy property dealers enjoy an advantage of being able to offer a lead a walk-through of selected properties even from a distant location, dispensing with the need for travel or having a surrogate inspection of the property.
Big data will have a massive impact on the real estate industry through data collection and analytics. Not only the real estate industry, but also potential investors and home loan financiers are keenly interested in the real time pricing dynamics and predictive analysis of the future prices of property. Feet on the street diligently gather field data that forms the input for the automated software that calculates the estimated market value after factoring in variables such as economic conditions, recent property sales, imminent additions to the property pool and local government financed infrastructure additions.
Indeed, digital technology has plenty to offer real estate agents, buyers and entrepreneurs!