The Role of Technology in Real Estate Marketing
This article has been contributed by Arpit Jain, Director, Arkade Developers.
Earlier to marketing real estate the most common methods included using newspapers, magazines, word of mouth and in-person visits however, the scenario has tremendously changed over the past few years. Nowadays, technology is a key factor that defines how real estate professionals can reach out to more people, making process more efficient, and provide more interesting experiences to potential customers. This is not only changing the ways in which basic real estate properties are advertised and promoted, but also changing the way clients purchase properties to be convenient, simple, and sophisticated. This article focuses on how the technological advancements have impacted the marketing of real estate and the tools that makes that possible.
The Importance of Real Estate Marketing
Increased Visibility
Marketing takes a property to a much further range where more people perceive it rather than when it stays in the developer’s garage. Therefore, through these demonstrations, a property developer can attract a class of buyer who otherwise, would not have come into contact with the property. Marketing is critical in distinguishing a property out of the numerous offerings in the market hence a greater clientele base.
Lead Generation
Marketing assists in pulling through potential consumers who are searching for homes they want to buy. The right audience being in touch with ads displayed on the internet, and social networking sites along with the optimized websites, agents are sure to get leads which are interested in buying or investing in property.
Faster Transactions
Marketing communication not only identifies the right target market, but it also shortens the turnaround time in buyers decision-making process. Since buyers are able to get information about the property through the virtual tours, clear description and easy access to lists, agents are able to sell properties faster thus being able to sell the listed properties faster as well. Through virtual tours and swift availability of property information, the pace of a sale can be fast, thereby reducing time.
Improved Reliability
A good and impressive marketing tricks & professional branding contributes towards trust. Consumers are more inclined to contact or visit a real estate agent or a listing which looks professional and trustworthy and thus generating more qualified leads and faster sales.
Structure Patron Relations
Marketing is not just about sales, it is all about the relationships. The technological advances such as e-mail marketing, Customer Relation Management and the social networks allow the agents to keep in touch with the former clients with the aim of doing business with them in future. This is very vital in ensuring the agents achieve long-term success within the market.
Gorish Dua
Technological Tools Transforming Real Estate Marketing
Objectives of using technology in real estate marketing extend beyond that of a broader audience outreach. Different tools and platforms that have made it easier for agents dealing in real estate to market properties and close deals. The key technologies include -
Virtual Tours & 3D Walkthroughs
Virtual tours enable the space to be accessed remotely, which is physically convenient to browse through homes, whereas 3D walkthroughs are realistic and enable quick decisions to be made on potential homes without physically stepping into many homes.
Artificial Intelligence (AI) and Chatbots
With capabilities of offering immediate answers to the potential buyers, the use of artificial intelligence in powers of systems like chatbots has become more and more popular. These tools answer questions round the clock, thus reducing the time that prospects have to wait to seek answers, useful to agents in keeping engaged with prospective customers.
E-Signatures & Digital Contracts
There has been an improvement in paper work where e-signature platform such as DocuSign has been implemented. All these technologies enable parties to sign contracts from the comfort of their homes and therefore closings can be done remotely.
Targeted Marketing & Personalization
Big data and AI help the real estate market to provide specific offers and adapting to clients’ choices and needs. This saves a lot of time since the buyers are provided with homes that meet all their requirements in terms of preferences.
Online Mortgage Pre-Approval
Most real estate sites today have a mortgage pre-approval form where buyers can fill in and obtain approval for their loans online. These non-financial benefits increase the immediate potential for financing information access and boost offers to proceed faster, thereby facilitating faster transactions.
Benefits of Technology in Real Estate Marketing
Wider Reach
The use of technology helps real estate agents to market properties online, major social networks, and online virtual property tours. This reduces geographical constraints, sellers can easily reach potential buyers in other cities or even other countries thereby increasing their client base.
Increased Engagement
Virtual staging, open house, property video tours, 3D models, and constant social media posts increase the desirability of the properties. The interactions with the properties can be higher and buyers are able to study the properties in detail with no regard for their location.
Cost-Efficiency
Strategies such as Customer Relationship Management systems, mass email blasts, and online adverts also eliminate costly conventional marketing techniques. These tools assist agents with activity generation and lead management to reduce cost, time, and optimize marketing spending.
Faster Decision Making
Technological support of data analysis and AI helps the agents to draw faster conclusions on the pricing and promotion of the properties. Up-to-date information on market changes or buyer behaviour allows companies modify their strategies and sell or buy products at a faster pace to the benefit of all.
Future Trends in Real Estate Marketing
AI and Automation
It is predicted that artificial intelligence and automation will become more adopted in marketing real estate by providing tools for prediction, personalization and efficiency. These technologies will assist agents in decision-making by enabling them to work through that process more quickly and efficiently than before.
Increased Use of Virtual and Augmented Reality
The use of VR and AR will only advance further, providing even more realistic property viewing and a real opportunity for buyers to imagine the spaces before they are constructed. This will make property tranquil and lively to interested buyers who do not have time to visit the property directly.
Big Data and Predictive Analytics
The ability to monitor the activity of consumers and what markets are likely to trend in the future will keep marketing more specific and efficient. Real estate professionals shall be in a position to deliver bespoke services depending on the buyers needs.
Technology has greatly changed the way real estate is marketed & offered presenting more efficient methods, tools and means of reaching the target customer. There is no doubt that there are challenges like high cost and data privacy issues they are all over powered by the advantages. Understanding of the latest tools and knowing what trends are likely to prevail, allows real estate specialists to become more competitive and offer better experiences to clients. As the industry advances, technology will continue to play a leading role in changing the way the properties are marketed and presented.
Sunita Singh
