Do you know that there are 181 steps between the beginning and end of a real estate transaction? Yes, that’s right. There are 181 steps a real estate agent needs to take before closing a deal. So, can you imagine how much work needs to be done during the pandemic? A lot of those 181 steps have to do with face-to-face meetings and open houses. The average homebuyer would have to see the house at least twice before finally making an offer for it.
The technology available to real estate agents is nothing new. It has been present before that real estate companies are not exactly jumping up and down with the thought of investing in these technologies. The industry has been slow to adopt these technologies, but the pandemic forced them to quickly invest in tools and devices that will make transactions plausible.
No real estate company can survive these days without websites. At the same time, no real estate agent can better protect their profession without having an online presence. One of the most important things to do during the start of the pandemic is to choose a web design for estate agents. While there are probably thousands of templates to choose from, a website specifically designed for a real estate agent will better represent what that agent offers in terms of products and services.
No real estate agent could have made a sale during the pandemic without knowing about 3D tours. This technology allows the agent to tour the potential client around the property without meeting face-to-face. A lot of these were done during the height of the exodus from the city to the suburbs. As families realize that staying in the city is closer to the transmission, they began making plans to move farther away from the urban dwellings.
Whether you’re using Zoom, Google Meet, Instagram Live, or Facebook Live, the fact is that livestreaming has become the easiest way for agents to reach their intended market. Social media was at the front and center of the dissemination of information during the pandemic. The boom of its livestreaming features has benefited industries such as real estate because it allowed them to broadcast their products and services to a wide range of audiences.
For a more intimate and private interaction with clients, real estate agents used video conferencing tools such as Skype, Zoom, and other messaging apps with video call features. This is the safest way to “meet” with your clients during the pandemic. And like all the other Zoom meetings you’ve attended in your company, expect every video call with a client to come with a lot of questions. They will use this time to inquire about all the properties they’re interested in that are under your listing.
How about a walk-through of the home without the clients actually being there? That’s what augmented reality (AR) provides potential homebuyers who wanted to check out some listings during the pandemic. They can have a feel of the home as if they’re there. They can even navigate the entire property if the program allows it. While this is a lot of work on the part of the real estate agent, it is also one of the most important tools to have during a pandemic.
Artificial Intelligence (AI)
The ability of machines to collect and analyze data has never been as important as it was in the midst of the pandemic. Machine learning is a major development in the use of smart systems in all industries, including real estate. The ability of these machines to interpret consumer behavior allows real estate agents to put in place the necessary measures to capture their interest. Thanks to AI, they can understand what their targeted clients expect to see, hear, and find out when they see a marketing or ad campaign.
Remote Online Notarizations
Documents for real estate transactions have to be notarized. It used to be that this is done in a physical office, but because of the pandemic, remote online notarizations have become an essential tool. This means that agents and their clients no longer have to deal with the pesky task of taking documents to and from the notary. They can have this done online and without needing to meet face-to-face.
The pandemic has not been kind to any industry. There were a lot of challenges and risks that put companies into a kind of conundrum. Real estate, in particular, was in a kind of lose-win-lose situation. There were opportunities, that’s for sure, but there were also many potholes that make the road less pleasant to travel.