Coming at the heels of a lockdown that has shackled the United States economy for more than six months now — and with little relief in sight — the real estate market is at odds.
In some areas, prices are skyrocketing, while in other, typically bountiful markets, sellers have to reduce prices up to 30% and more to effect a sale.
Aside from pricing changes and market vulnerabilities, the entire process of home buying and selling has shifted to bring increased safety to all parties.
Agents, sellers, and buyers rely more on digital communication technologies to reduce in-person contact while still allowing prospects to examine prospective properties.
Readily available new technology for real estate simplifies virtual sales and provides agents and clients alike with everything needed to navigate the buying and selling process safely.
What New Technology for Real Estate Can Do for Your Real Estate Business
Let’s take a deeper dive into how digital tools can help create a safe, positive experience for your buyers and sellers and help your agency thrive.
Virtual Home Buying Made Easy
By using panoramic video and other tools, buyers can easily take a walk-through a prospective property without worrying about potential infection.
After buyers examine several properties, they can video conference with their agent to discuss potential offers, problems with properties, or to schedule a socially distanced in-person visit at their top picks.
Negotiations, paperwork, and coordinating inspectors, appraisers, title companies, and even lenders can be handled via email, through robust document management systems, or even through video conferencing when an in-person discussion is required.
Choose a Strong Partner to Implement Your Digital Tech
Virtual and augmented reality technologies have the potential to make buying and selling homes more comfortable and safer as the coronavirus continues to impact our economy.
Virtual tours give agents the ability to market homes with little investment while allowing potential buyers to experience properties without physically walking through them. Augmented reality can add elements to a home (“virtual staging”) to give it the feel of being fully furnished or “flesh out” homes under construction to provide buyers a sense of the finished product.
However, all this tech requires expert IT guidance to ensure customers are satisfied with their virtual real estate experience. Most real estate agencies have a small — or non-existent — IT department, making it difficult to produce high-quality digital experiences.
To reduce the burden on staff and increase customer satisfaction, real estate agencies should partner closely with a Managed IT provider that can quickly set up, maintain, and manage the virtual real estate experience.
Working with a tech partner can help agencies develop cutting-edge experiences that set them apart from competitors without draining the budget or relying on in-house staff.
Blue Technologies is the Right Choice to Manage Your Real Estate Transformation
Digital innovation is nothing new in the real estate market.
Before COVID-19, agencies were leveraging the power of customer relationship management (CRM) tools to define potential customers, predict market conditions, and manage customer interactions.
Additionally, companies have shifted to the cloud to make property management tasks more straightforward and easier for tenants and property owners.
Smartphone applications have allowed agents to access property information while they are on the go to help clients make fast decisions about which houses to see. Virtual and augmented reality technologies are helping to refine the online real estate buying and selling process to keep agents and clients safer amid the ongoing health crisis.
While any or all these tech tools can help your agency thrive, they are only as good as the team that implements them.
At Blue Technologies, we have an in-house group of highly trained IT experts who can help you assess your agency’s needs, create a plan to help you digitally transform, implement your targeted tools, and offer ongoing maintenance and troubleshooting to keep business humming.
Our team is there to support your agency through your digital transformation, providing the right digital innovation, security, and cost-effective tools to help you stay productive — and earning — as the crisis continues.
Looking for a team of experts to help your agency implement cutting-edge digital technology? Contact a Blue Technologies consultant today and learn how our Managed IT services can make your agency more efficient — and safer.