Technology and Innovation
Updated: Oct 21, 2020
How important is technology and innovation in Real Estate. We see many industries where innovation has taken off in the last few years.
When I was first in Real Estate, the agency I worked for remained stagnant in this area. What worked for them initially thirty years ago was still being used and for the most part was successful. I thank them for the opportunity and the training that I received in that agency.
However, in areas such as social media marketing, buyer logs, website and even paperwork they were behind the times.
For example, the buyer inquiry logs were over ten years old and were paper based. Meaning, that any inquiry a buyer made was recorded by the receptionist and then added to a file, which was then reused hundreds of times over the next ten years. If they called in multiple times, that meant multiple entries in these multiple files, which had no central log recognizing duplicates. Suffice to say that it started to produce a bad taste in the mouth of buyers who weren't even looking.
This is not to mention the advertising techniques that were used in that agency. This provided me with information on what to do differently when I started my own agency.
Some of the tools I use to utilize technology and innovation includes the following. I use VaultRe the best one stop shop for all Real Estate needs.
It also integrates with Realworks, where Real Estate agents get all their approved forms like contracts and tenancy agreements. It also integrates with CoreLogic or Rpdata providing that property information for our clients. It also has features with trust accounting built in and also connectivity to wordpress websites.
For me one of the favourite features is the CRM in built into it. Where all of my staff and even clients can see what is happening on each property and about potential buyers and sellers that are coming up.
It also provides your clients with a login so they can see the feedback from each buyer in Real time. This is where as an agency we pride ourselves on providing the best communication with our clients.
This innovation used with Xero, Canva, Instagram, Facebook, Twitter, Youtube can really make any agency forward thinking and innovative.
Make sure your agents are up to date before you engage them, see what tools they use to produce results, rather then what worked 30 years ago.