The rise of digital in the real estate sector

rise of digital in the real estate sector

For several years now, digital technology has been everywhere, and the real estate sector is also affected by this digital revolution. The way we buy, rent, build, or sell a property has evolved and it is essential to adapt to stay in the race.    

Connected and innovative services have appeared to benefit the real estate industry, whose work is greatly facilitated, and customers who notice an improvement in the service they receive.   

With this digital transformation that is becoming more and more important, the customer experience has been totally rethought thanks to new technologies and new consumer habits.  

Let’s take a look at what’s new in the real estate industry and how it impacts all the players in the sector.   

  

Real estate industry – an indispensable digital presence   

Whether you are an independent real estate company, a real estate broker, a real estate developer, or a real estate agency, building your reputation through social networks and a well-thought-out website has almost become a must.   

The real estate sector, which used to evolve in a world made of paper and human contacts has had to reinvent itself, especially since the last lockdown events.   

While human beings were the central point of real estate transactions, with real estate agents and customers buyers or sellers, real estate professionals had to review their way of interacting to respect the rules of distancing.     

In recent years, digital technology has become increasingly important in the real estate sector. It allows real estate professionals to increase their visibility and reach a wider audience, thanks to search engines and social networks. By joining the digital world, they can now better respond to the ever more demanding customers.  

  

Why invest in digital?  

Customers have taken on new habits since 2019 and it has become increasingly common to view real estate listings online, on websites, and on social networks.  

Thanks to digital, you have the opportunity to offer a high-quality service and respond to more general requests quickly and efficiently, thus strengthening the relationship with your customers.   

In this context, the role of a website goes beyond a showcase for your real estate business. Thanks to your website, you have the possibility to propose properties for sale, purchase, and rental, to show photos and videos, to propose very convincing virtual visits, calculate the cost of utilities, evaluate a property, and much more, as we will see later.   

But before anything else, it is imperative to know your customers’ needs, fears, obstacles, and how they operate on the different digital platforms. This will allow you to set up a digital strategy that fits them perfectly.   

As real estate professionals, you need to set achievable goals and determine Key Performance Indicators (KPIs).   

 

What’s new in digital technology  

A simple smartphone or tablet can change your life!   

Add a virtual reality headset and you can offer 360° virtual tours that are more than real.  

Thanks to 3D modeling, you can help your future buyers or renters to project themselves into their future home, and thus get a very precise idea of how to arrange it.   

This technological advance is also valid for future constructions. With your smartphone or tablet, you can offer your customers a virtual tour of their future home, the building, and even its position in the neighborhood! This technical achievement will make it easier for you to convince your customers to sign with you. 

 

New features to integrate into your website  

The website of your real estate company must adapt to the times. Even though we live in an increasingly digitalized world, we recommend that you add a touch of humanity whenever you can. So, don’t forget to include testimonials on your website. They guarantee that your service is of high quality and reassure visitors.  

For owners, creating a co-property management portal can be a good idea. You can insert all important communications and documents related to the condominium in a secure manner. Think also about organizing your annual general assembly online for example.   

The electronic signature is also inviting itself into the real estate sector to facilitate the different contract signatures without having to move.   

For tenants, you can also manage lease contracts in an automated way.   

Don’t forget to include a map, geolocation, detailed product description, rental value, charges, and real-time availability for each property offered.  

Make sure to install a chatbot to answer the most frequent questions of visitors and ensure a “presence” at all times.  

We also recommend that you set up a secure client space, which will be accessible by your clients thanks to a login and password. For example, a client who sells a property will be able to access information such as the number of visits received, the profile of interested parties, the platforms on which you published their ad, etc.   

This secure space is also interesting for tenants who will be able to find their monthly invoices, receipts of paid invoices, various certificates, work done in the apartment, etc.   

You even have the possibility to create an instant discussion space between your clients and you, the real estate professionals.   

 

Real estate professionals; ensure your presence on social networks!  

By integrating social networks such as Facebook, Instagram, and LinkedIn, you can create a well-targeted community of prospects and clients.   

Getting to know your community is a great asset because you can set up a targeted communication and campaign strategy that will reach them precisely. You will be able to set up an effective communication that meets their specific needs.  

Social networks are also a good way to exchange directly with your community. You can share your offers, videos, photos, and promotions.   

We recommend you to privilege video ads, in order to improve the traffic between the social network platform where you posted it and your website. You will thus improve your visibility on the web and your ranking on search engines. 

 

What about Data?  

We hear the term “Data” everywhere, but why is it important to consider it in the real estate industry?  

With the advent of the GDPR laws, managing customer data properly becomes increasingly important because you have to consider the security and confidentiality of this data.  

As a real estate professional, you must be able to exploit the mass of information you receive from all digital platforms to transform it into a real asset for your growth.   

By analyzing customer data, you can improve the relationship with your customers and prospects, better understand their needs, and consequently make better and more targeted decisions to achieve your goals.   

Setting up a CRM allows you to deepen the relationship with your prospects, understand where they are in the conversion funnel, and follow up on each of them.  

A CRM also helps you deepen your relationship with your customers, meet their needs, and build loyalty.   

 

To conclude  

Digital technology has been exploding for several years and the real estate sector is also impacted by this trend.   

At Eminence, your digital agency in Geneva, we are convinced that by putting together all the actions we have just presented, you will considerably improve the customer experience with your company, simplify your life, and better set your future growth objectives.  

Our agency gathers a pool of experts in all the areas presented. Whether you need to reconsider your website to integrate the latest news in the real estate sector, think about a strategy on social networks, set up a CRM, automate certain tasks, or analyze customer data, we are here to support you in all your steps.