The future of estate agency relies on embracing new technologies Technology has advanced at an extraordinary pace over the last ten years, and esta
The future of estate agency relies on embracing new technologies
Technology has advanced at an extraordinary pace over the last ten years, and estate agents are realising that it can do more than just speed up processes. With the right technology, agents can streamline and adapt to market changes.
Some forward-thinking estate agents recognise that the technology at their disposal offers a competitive edge as well as a key to boosting customer satisfaction, whilst providing an additional revenue stream to assist their business goals.
The implementation of technology has historically been met with resistance from traditional estate agents, with many believing it as disruptive rather than innovative, and benefits the consumer more than the agent.
Help your customers along the buying or selling process
It is the role of an estate agent to guide consumers through the (sometimes complex) house buying process with the support of technology, and the right software can offer a whole host of seller and buyer orientated benefits.
For example, the traditional property valuation process might be time-consuming, but a tablet with access to cloud software allows agents to instantly populate property information on the move, generating a digital brochure for buyers; quick, easy and paper-free.
Utilise social media to its full capacity
Social media can also instantly connect buyers and sellers. For example, a simple algorithm can recognise and register a tweet for a house hunter in Reading and, without lifting a finger, the software can automatically reply with “How can we help?” creating a potential lead, whilst offering great instant service.
Maximise engagement, minimise workload
This high level of service can also be achieved by linking systems to the right applications, all without the need for any additional resource. This could allow, for example, the expansion of information in text reminders to include Google Map links, setting up a personal account with a wishlist on an estate agent’s website, the ability to book viewings online and receive regular emails from estate agents with recommendations based on buyer criteria. By logging clients’ details and establishing customised workflows, this allows agents to offer a much more personalised approach, and the ability to cultivate long-term relationships to help drive repeat business.
This technology provides instant benefits to the consumer such as:-
- Exploring the local area on Google Street View
- Reading online reviews of the local area
- Researching broadband speed
- Checking Google Maps to benchmark commute times
- Checking school catchment areas
As a result, consumers are increasingly expecting agents to offer this information as standard. Good software extracts this essential information easily, pulling it into a single, easy-to-access view that can be delivered to the buyer.
Make informed decisions
New technology can also help solve the problems around business efficiency for estate agents. For example, the growth of an agency can be complex, and cross-discipline reporting can be chaotic without a single view of the performance of different branches. This has resulted in a far greater need for data sharing and analytics to understand how the business and certain employees are performing.
The right software also enables agents to be more targeted and efficient with their marketing in the face of increased competition. For instance, analytics and data-driven campaigns can quickly identify properties that are not performing well, in turn prompting them to add more images, a video, or make the listing more compelling, whilst remarketing the property through email or direct mail campaigns.
The main technology that underpins the future of estate agency is the API (application programming interface), which ties into a single, cloud-based platform to give agents a full view of their business.
The ability to generate a digital brochure on smartphones and tablets is a prime example of this in practice, particularly as mobile devices continue to become increasingly important to estate agents. This is achieved through open architecture, which is accessible via a full spectrum API, coupled with a powerful, outward-looking workflow system.
The rising value of API’s
APIs are crucial to the future of estate agency, and offer significant revenue streams by interconnecting sectors and services, because APIs act as the glue between systems and suppliers, future agents will have the opportunity to deliver a one-stop-shop of home-related needs with the partners of their choice.
The adoption of technology puts estate agents in a unique position to offer clients the best of both worlds. It gives them the opportunity to meet consumer expectations, while simultaneously managing their own business successfully.
Estate agents must embrace technology in order to remain connected and relevant in an increasingly competitive market. Powered by APIs, Rezi gives you the freedom and flexibility to hit all points at once and use technology to enable a fully scalable future proof business model.
Rezi has taken five years of development and millions of pounds in investment, and our cloud-based sales and lettings platform will transform how you operate. Our groundbreaking approach has required a unique architecture and is the industry’s only open API, so you can fluidly connect third-party software into your case management system.
It is the difference between technology that can meet your needs today and a platform that will keep meeting your needs 10 to 15 years down the line.
It’s packed with timesaving features and innovations to make your gold standard customer service stand out. But it is much more than a sales and lettings platform. It is built to be different.