| Marketing Strategy 4 Min Read

Technology is advancing at breakneck speeds. Almost every industry in the world is impacted by the changes and innovations that are constantly coming out. Sometimes, it’s hard to keep up. In the real estate industry, specifically, it’s important to stay current and keep up with the newest trends. The market is continuously shifting and when you combine a shifting market, changes to the economy, and advancing technology, it becomes even more apparent that real estate agents need to be on top of their game.

So what is the impact of technology in the real estate industry?

 

Going Paperless

More and more agents and teams are becoming paperless. Today, thanks to cloud-based technology like Google Drive, iCloud; and programs like Proposify and DocuSign, paper documents are becoming less relevant. Customers can now review documents online, add their electronic signature, and finalize contracts from their tablets or computers. Additionally, lawyers and financial institutions are also moving toward these online contracts and documents. Deals that would have taken weeks or days in the past can now be completed within hours. Many clients in the near future will expect this type of technology and will be disappointed if they have to resort to doing things the old-fashioned way.

However, moving your documents and contracts to the cloud will also come with its own set of challenges, online security and data protection will become even more critical. If you are planning to move to a paperless system, it’s important to make sure you have a process in place to protect client’s information.

 

Cryptocurrencies

We have all heard the hype surrounding cryptocurrencies and blockchain. But how many of us have used this technology practically in our lives? Blockchain has the potential to change the real estate industry completely. So far, it’s only been used in a few transactions, but with blockchain, you can expect to save money, and improve security and the speed of your transactions. Additionally, products like “smart contracts” are gaining momentum, where funds are only transferred once conditions within the contract are met.

This technology might take a little longer to catch on, as many people still look for the security and reputation that comes with dealing with a financial institution. However, as the products become more commonplace, and more successful transactions are brokered using blockchain, you will see more people’s interest piqued at the idea of buying a home with cryptocurrency.

 

Virtual Reality

A couple weeks ago, we talked about virtual staging, but virtual reality or VR is a little different. Agents are already starting to integrate this technology with things like 360-degree photos and videos. However, virtual reality is a much more immersive experience that can show clients what it would be like to live and breathe in a space. Imagine hosting an event with VR headsets, where you can show clients numerous properties without even leaving your office. There is enormous potential with this technology, and as the systems get better, we will see more teams taking advantage of VR in their businesses.

 

It’s Already Happening

Think about your real estate marketing strategy 20 years ago as opposed to one year ago. In 2018, you would undoubtedly focus on creating a beautiful, mobile-friendly site with a solid SEO strategy and a great content strategy that will attract visitors to the site. In today’s market, these features are non-negotiable, real estate agents need these things to receive any market share. But these things were almost non-existent 20 years ago or even ten years ago, which says a lot about the rate in which the industry advances.


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