I want to share with you my personal experience in the real estate industry. I am a project manager and over the past 7 years, my team and I have taken part in 3 large real estate projects.
What I realized in 2021 that almost any type of business can be partially or completely automated (unfortunately or fortunately - but this process is already irreversible).
It seems to me that automation is necessary for:
- Reaching a large audience of clients
- Reduced employee costs
- Free time for monotonous tasks
The work of real estate agents can also be automated. In this article, I have collected solutions for automating the work of real estate agents and increasing their profit/reducing their labor costs.
Table of contents
Almost every real estate agent has their own website. When a client visits it and wants to ask more about the property that interests him, he writes to the mail or to a special chat on the site.
According to the world statistics portal of the National Association of Realtors: 78% of buyers choose an agency that responds to them faster than competitors. According to the same portal:
- 93% - realtors correspond with clients via email
- 92% - real estate agents prefer to communicate with clients using messengers http://www.nar.realtor/
- 37% - communicate with customers via instant messages
The data is collected for countries in the United States, Europe, Canada, and a number of developed Asian countries. As for Russia and most of the CIS countries, real estate agents prefer to communicate with the help of:
- Email address
- Direct Call
- Conversations in social networks
Because of this approach to communicating with customers, many agents lose their profits. On the first of the projects, I integrated a smart chatbot into the system. One of the main advantages is that such an assistant in business does not take breaks in work and is able to communicate with the client at any time. The chatbot solves the following tasks:
- It gives additional information to the clients on the real estate objects they are interested in
- Sets the date and time of viewing the property. In this case, the application goes straight to the CRM system. You can read about how to develop a CRM system in our article: “What is a crm in real estate”
- Collects customer contact details
- Provides answers to frequently asked questions
- Keeps clients on the site. With the help of a chatbot, we have created different greetings for visitors interested in buying, renting and selling real estate. We also selected potential customers based on their needs. This helped connect potential customers with quality real estate agents and shorten the sales cycle
- Collects rental applications. Instead of filling out long forms, our clients search for ads while chatting with a virtual assistant. The chatbot can ask users:
- About the amount of the client's budget for the purchase or rental of real estate
- Collect and offer property types, suitable for clients
- Find out the location of real estate that interests customers
This helps the bot to find suitable ads in its database and immediately give them to potential customers, using attractive views. This allows users to express their interest faster and can leave their contact details.
- Collect information about market needs. Everyone wants to attract tenants and buyers, and therefore the presence of an attractive property is simply necessary. However, it is even more important to have lists that match your client's interests and budget. That's why it's useful to learn all the ins and outs of the local real estate market. This can be done:
- Reviewing the lists of competitors
- Examining the demographic information
- Searching on local forums
Or replace all these actions by launching a chatbot :)
A chatbot can have multiple conversations every day and collect a lot of data about your target audience. The information collected during the chats will help identify you:
- What types of real estate are clients most often looking for?
- Which areas are the most popular among clients?
- What is the average budget of your potential customers?
Knowing more about your local market, you can adapt your list to your customers' needs and better target your future marketing campaigns.
2. Email/SMS Marketing
When a client makes a decision to buy a property - this is one of the most important events in his life (you should always remember it).
This is usually a multi-hour search for real estate on various sites. At this point, it is very important for the agent to remind himself of himself. Therefore, it will be useful to integrate a system for tracking user behavior on the site. That is, to collect information about the main actions of the client:
- What type of property did he see?
- Analyze what exactly you have seen in properties, for example:
- The area of the house or apartment
- Number of rooms
- Number of bathrooms
After this information, we categorize the potential client and then the system itself will send him a personal selection by Email or SMS, based on the client's preferences. Managers can customize the categories and types of ads themselves in CRM.
3. Team Management
Having my personal experience, it is difficult to overestimate the importance of competent management of your team. After all, if the competition between team members crosses a certain line - it hurts everyone!
I am sure that it is necessary to measure different personal metrics of each of the agents and the entire team as a whole. With this technology, each agent can see the sales schedules of other agents. This gives him the motivation to work harder and increases his confidence in the result.
I think it was a good decision to introduce the format of communication with the team.
An important feature was the ability to reassign client processing between agents and track the status of these tasks. In our case, this helped to organize work processes painlessly and free up more time for developing a business strategy.
4. Cold calling services
Cold calls are a method of call centers or managers, who study information about who may be interested in products/services of various companies. The call is made using the number database.
Currently, you can configure automatic cold call services. They can implement:
- Tracking potential customers
- Compose a professional message with a human voice
- Filter a mass of numbers for multiple potential customers
Automatic cold call services can be configured with various behavior scripts, etc. In our practice, we used integration using the Twilio. service. It works perfectly in the CIS and allows you to solve all the tasks necessary for cold calls.
5. Virtual tours
Virtual reality (VR) in the real estate industry is good because it gives your customers a virtual tour even before the live viewing of the property is booked.
In my experience, virtual reality is increasingly spreading to the real estate industry. This happens because photos and videos are often taken from favorable angles to the seller. And such tools do not give the customer a complete picture. But the VR technology allows you to view the room at 360 degrees.
If the agent's task is to sell an unfinished property, then VR can show the client the future premises.
Another interesting application of the technology concerns the sale/rental of housing by foreigners. Because customers, who are abroad can not come for a live inspection of the premises, they will be much safer to explore the property with the help of a virtual tour. This makes it possible to reach the international level.
Start growing with us!
In my opinion, in 2021, the winner is the one who uses all modern opportunities. With the help of a system of independent owners of real estate agencies:
- Reach more customers
- Maintain a smaller staff of agents and employees
- Save your time
- Adapt faster to real estate market trends
Do you have any questions? Feel free to write to us here or on the website. You can also read an interesting article: "5 Steps for creating a Real Estate Agent Website"..
I wish you success and development for your business!
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