Technology has changed almost every industry in the world in the past few decades, and real estate is no exception, and the pandemic has only sped up the process. Virtual showings and e-signatures, for example, were once relatively rare and are now the norm in many situations. It is easy to think that Realtors are slowly but surely being replaced by smartphones equipped with the latest apps.
Nothing could be further from the truth; a Realtor is still necessary, though the job description is changing. To be a successful Realtor, you must embrace technology to be able to communicate with and serve your clients in this new high-speed era. Don't look at technology as replacing Realtors; look at it as a tool to help Realtors serve their communities better. The best Realtors embrace tech to allow them to serve clients better. To thrive in the 21st century, Realtors are using technology in the following ways to become more efficient and provide a better client experience.
3D Scans and Virtual Tours
Today, using relatively inexpensive software and hardware, a typical Realtor can use the Matterport platform to quickly create a digital 3D model of a property that can be viewed online by a prospective buyer. It's not a gimmick either; millennial and Gen Z buyers overwhelmingly say they are not only comfortable with these types of immersive experiences but would not be interested in working with a Realtor not using these new tools.
It is a well-known fact that it's more effective to show home buyers an adequately staged home over an empty house. However, staging a home does cost money and time. Several software apps are coming on the market that allows a Realtor to stage properties virtually with the trendiest home decor. Using certain apps on a smartphone or desktop, Realtors can create a fully furnished home as a model to show prospective buyers. You can digitally drop in tables, chairs, wall art, and other furnishings. It is a bit expensive but still cheaper than physically staging, and it will only get more affordable with time.
Tech in the Future
These changes, while radical, appear to be just the beginning. Who knows what the future holds, but the crypto and NFT space has a promising future in the Real Estate industry. Once the digital art craze fades, there will be fantastic opportunities for 21st-century title companies and Real Estate brokerages to use new technology, such as NFTs and Smart contracts. It will radically speed up and enhance real estate transactions when deployed correctly.
There are dozens of other high-tech apps Realtors can and should use. It is important to remember that tech will not replace the Realtor, only enhance their services. Tech can't replace knowledge and negotiating skills; as a Realtor, you are the trusted advisor. Buyers and sellers need and want you and the value-added services you offer. In fact, in today's tech-heavy disconnected world, they will most likely enjoy a little human interaction that is probably lacking in many places. Make sure you use the tools you have to enhance your client relationships. Try out our Community Feature Sheet® to see what it will do for your clients and your image in the community you serve.