Despite the challenges posed by the ongoing coronavirus pandemic, the residential real estate market will continue to boom in 2021 as homeowners continue to move from cities and into more suburban and rural locales.
While ongoing quarantines could still affect housing inventory as we move through the year, the increasing availability of COVID-protective vaccines could see home sales jump, along with a nice increase in home prices that will encourage even more people to sell.
Given the continued accelerated disruption in the housing market, the differences between those who succeed at real estate and those who don’t will not just depend on performance due to geography or sector.
Instead, real estate professionals who want to see better performance and get ahead of the competition will integrate specific digital tools for real estate to help them analyze, strategize, and deliver a higher quality buying and selling experience for clients.
Managing Your Real Estate Digital Transformation
The ongoing coronavirus crises have rapidly reshaped the world of real estate and associated traditional real estate processes.
This shift has prompted many agencies, firms, and independent real estate professionals to move more quickly toward a digital future by integrating technology and software solutions into their business processes.
To manage your agency’s digital transformation more efficiently, consider adopting one or more of the following strategies:
- Move to the Cloud
Property management software, customer relationship management (CRM) software and other applications can be accessed more conveniently — and securely — from a cloud-based environment.
This ease of use gives authorized personnel such as agents, property owners, and potential buyers and sellers quick access to vital property information to accelerate the buying, selling, or decision-making.
At the same time, cloud-based solutions can offer a higher level of security for sensitive data, providing 24/7 monitoring, simplifying encryption, and ensuring all patches and updates are performed on an evolving basis.
- Manage Big Data
Big data fuel real estate buying, selling, and renting processes. It comprises property assets and the data involving ownership, renters, agents, buyers, and sellers.
Being able to organize, analyze, and manage this data successfully will boost business development and contribute to a speedier increase in revenue.
CRM tools can help manage customer relationships, staff, resources, and innovative software solutions such as document management systems (DMS) can provide ways to increase response times, streamline administrative processes, and provide a better customer experience.
- Adopt Artificial Intelligence (AI)
Machine learning and artificial intelligence (AI) are transforming almost every feature of real estate, providing beneficial impacts to every transaction.
Some AI strategies include natural language processing (NLP) features that help agents target clients and pre-qualify leads, reducing the time and effort spent sifting through potential customers. Even CRM and document management systems can leverage the power of machine learning to generate automatic reports and automate tasks.
Task automation reduces the amount of time spent on manual entry and nearly eliminates human error potential in the documentation process.
Finally, AI dovetails with predictive analytics to provide agents and agencies with a strong competitive edge by fine-tuning the decision-making process and allowing for a smoother, more fruitful collaborative experience between agents and clients.
Blue Technologies Offers Smart Digital Tools for Real Estate Professionals
Competition is intense among agencies and agents in the real estate market. To stand out, take advantage of our innovative digital tools for real estate and help your business grow and thrive as you move into 2021 — and beyond.
Not only can our team of IT experts help your business ease into a digital transformation, but we can also help you craft a targeted toolbox that will specifically address your business’s needs, goals, and challenges.
From cutting-edge Managed IT services to help you take advantage of cloud-based convenience, to state-of-the-art document and content management systems, we have the right combination of expertise and technology to help take your real estate business to the next level.
Streamline your real estate processes and win customer trust and loyalty. Contact a Blue Technologies consultant today and learn how our custom technology strategies for the real estate industry can help you impact the market this year.
