Real Estate Technology is Changing - Are You Keeping Up?

There’s no doubt the current global climate has changed the real estate industry as we know it. Unexpected times have forced agents to turn to technology like never before.

Only a few months ago we may have complained about available technology lacking this or lacking that, ongoing costs, and so on. Now we know, it is this technology that has allowed us to continue operating in an industry that was dependent on in-person contact.

If there’s a time to really shine a light on technology, that time is now.

Powerful Data

Data is key when it comes to technology. Without steady amounts of data, tech giants such as Google, Facebook and Youtube wouldn’t be what they are today. Without user data and content, these platforms don’t have a reason to operate.

The same can be said for your real estate business and the data you are leveraging to run it.

• Real Estate data is basically all of the interactions and information you have about your prospects and clients.
• When this data is paired with powerful software like CRMs, the software can then use analytics to leverage your data and reveal potential buyers and vendors. 
• Information still sitting in that old green book or Excel spreadsheet and not entered into your CRM means you’re missing out on potential business and hidden leads that only software algorithms can identify.

The key takeaway: enter data into your CRM and keep your database updated regularly.

Automation

While we can’t help you magically enter your notes from your paper notebook into your CRM, we can help you automate the transfer of digital data on an ongoing basis.

We know that time is money and the last thing you want to do is manually type in every single customer name, interaction and buyer preferences.

At ReNet, we heavily focus on a single point of entry for all of your data to:

• Automatically upload properties and listings using our property portal 
• Instantly update your website, including staff profiles and listings from a single touchpoint website manager
• Add new contacts to your database the moment they sign up to property alerts on your website and send automated property emails 
• Automatically generate vendor profiles without spending hours at your desk creating them from scratch 

 As time is the most valuable asset we have, we need to embrace what we term at ReNet with our one point of entry is "2 minutes spent entering data will return you 100 minutes of free time".

Ongoing client management and relationships

With your data and automated tech humming seamlessly in the background, focusing on client relationships and ongoing management becomes easier. It’s true that it takes multiple touchpoints to close a sale and staying top of mind is essential for any real estate agent.

CRM technology has made it easier to:

• Stay on top of tasks, reminders and anniversaries
• Identify and track buyer preferences in order to provide a tailored service 
• Monitor client buying habits, uncover potential buyers and vendors
• Make tailored property recommendations based on client’s virtual and email interactions
• Stay top of mind when your buyer becomes a vendor and you’re ready to list it for them
• Easily access your CRM and send communications from your phone, laptop or tablet wherever you are
• Effectively and efficiently manage clients on a larger scale

Sales Director, David Young, has seen how technology has changed over the years since joining the industry in 2002 (and no we haven’t gotten our zeros around the wrong way - that’s 2002, not 2020). David started with domain.com.au in management roles when most people thought Domain was a furniture store (Domayne) and Portals like Property.com.au and Realesate.com.au were in their early days.

"Back then, the Real Estate industry was heavily supporting the print platforms with a great deal of suspicion about the advent of technology that was unfolding. At that time there was little in terms of in-office support CRM systems that today are the engine rooms of the Real Estate business. Where would we be now without the wonderful 20 years past of technological development?! I’d safely assume we’d be stuffed! So much for the naysayers towards technology in the early days - oh I remember it well!" - David

While most in the industry have embraced technology well, we still have some that do the old green book under the desk for contacts and listings. Today you cannot simply hide under there anymore.

We may be stating the obvious here, but CRM software stands for Customer Relationship Management. If your current system is not helping you to effectively manage your client relationships with efficiency and ease, you’re doing yourself and your clients a major disservice.