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How to Manage Your Entire Real Estate Sales Business with Technology

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The real estate industry is no exception to the technological disruptions caused by constantly evolving business practices and innovations. Traditional methods of conducting business are increasingly falling out of favor due to their inherent inefficiencies that restrict growth and limit success. – PowerPoint PPT presentation

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Title: How to Manage Your Entire Real Estate Sales Business with Technology


1
How to Manage Your Entire Real Estate Sales
Business with Technology
  • The transition to technology-intensive
    methodologies and processes drives efficiency,
    increases productivity, and escalates your
    digital presence.
  • The real estate industry is no exception to the
    technological disruptions caused by constantly
    evolving business practices and innovations.
    Traditional methods of conducting business are
    increasingly falling out of favor due to their
    inherent inefficiencies that restrict growth and
    limit success.
  • To gain that much needed edge over competitors in
    the real estate world, you must be willing and
    able to adopt the newest practices and techniques
    that your industry has to offer. For example, the
    use of drones and CRE mapping tools has
    dramatically helped reduce the time it takes to
    map out land, helping real estate marketers
    quickly identify potential locations, economic
    and movement trends, spatial relativity, and even
    environmental occurrences.

2
With time, countless other aspects of the real
estate industry have been mechanized, assisted
real estate professionals as well as their
customers. The advent and incorporation of
digital technology has revitalized how realtors
manage their businesses, and how customers browse
for real estate options.
3
  • Real Estate Today
  • Problems Currently Faced
  • Conventional methods practiced within the real
    estate industry have been deemed inefficient and
    cause costly delays.
  • Lack of transparency and poor communication
    delays the process and discourages customers to
    the point that they may stop working with you.
  • Problems arise from inefficiencies in the
    inspection operations. Between physically
    assessing properties to contacting property
    inspectors and confirming that the property
    complies with all laws and standards, it is a
    lengthy and resource-draining process.
  • Transactional processes are often complex.
    Ineffective software systems cause delays in
    payments and/or compliance documentation.
  • Supplement of Technology
  • Once technology is introduced into the process,
    especially software, it effectively reduces
    and/or eliminates nearly all barriers to growth.
    Technology gives real estate teams and marketers
    the edge they need by
  • Significantly boosting your offerings and
    capacity via workflows and best practices
  • Saving tons of time via automation that could be
    better spent on other processes

4
  • Encouraging productivity, ensuring efficiency in
    your real estate business and its operations
  • Generating and intaking more leads with the help
    of sales and marketing automation
  • Staying compliant with industry laws and
    standards through software that scan your digital
    documents and evaluate your processes
  • Managing Best Practices and Tools
  • Adjusting to changing standards and moving an
    existing business online is not only hard but
    risky. Starting a new real estate business is a
    relatively easier endeavor than converting your
    existing business to a contemporary business
    model. An understanding of the digital realm is
    essential when developing an online business
    model. As you incorporate your business online,
    you need to be alert at all times as you have now
    entered an extremely dynamic and volatile world.
  • There has been constant growth and change since
    the introduction of technology into the real
    estate industry
  • Realtors previously used FTP (File Transfer
    Protocol) to send files from the MLS to agents.
    Updates regarding the business were sent across
    but lacked a unified format which meant every MLS
    required specific integration. This made it
    extremely expensive.

5
  • The advent of RETS (Real Estate Transaction
    Standard) was introduced in 1999 to facilitate
    these exchanges and simplify the process. RETS
    helped improve real estate data aggregation
    processes and eventually the framework helped
    create a unified format which eliminated the need
    for individual MLS integration.
  • The RETS framework, alongside modern CRM and
    sales and marketing automation tools like Shape
    Software has helped transform how people manage
    their real estate businesses. The following tools
    are a must-have in your RRE CRM software if you
    are looking to streamline your processes and
    reduce inefficiencies
  • Automated Emails It is extremely important to
    have a system to keep in touch with your clients.
    You cant simply remember to call or text at the
    perfect time (odds are youre too busy anyway)
    and thats where your email marketing campaign
    comes in. Your software should have a built-in
    drip campaigns that you can customize, automated
    follow ups, newsletters, and other features
    designed for personalized and timely
    communications for every prospect and client.
  • SMS Messaging When youre engaged in a potential
    sale, it is important to be available at all
    times. You may have to make use of text messaging
    here, in case you or the customer need a quick
    response, or dont have access to the internet.
    Today, a lot of people actually prefer to be
    contacted via their mobiles (80 of consumers say
    they want businesses to text them). It is
    important to stay on top of these changing trends
    by optimizing your processes using a software
    that has pre-built texting templates, auto
    responders, and more so you can always be on
    call without any of the effort.

6
  • MLS Integration The Multiple Listings Service is
    a massive database of real estate listings across
    different regions. It is a great platform that
    helps you reach a larger audience. MLS allows
    agents to post listings and even download
    essential documents. If youre serious about
    streamlining your Real Estate business, a
    software like Shape, which integrates directly
    with the MLS is a key to cut down on tons of
    manual data entry.
  • IDX Integration The Internet Data Exchange
    provides a public platform where you can list the
    MLS properties, and catch up on the latest
    policies and compliance regulations. MLS is a
    closed system reserved only for real estate
    agents which makes it unavailable to the actual
    customers who want to buy/rent properties. IDX
    helps get those MLS properties the exposure they
    need. Todays realtors absolutely need an IDX
    integration for their backend software to be
    useful.
  • Mapping Mapping out and understanding the
    geography of a region is crucial before diving
    into its real estate. Traditional methods require
    the use of comprehensive secondary data along
    with costly and time consuming physical
    inspections. Today, drones and digital mapping
    tools have helped speed up the process, providing
    cheaper and more accurate results. Shape is a
    tool that directly integrates with Google Maps to
    help streamline inspections, manage listings, and
    stay in sync.
  • Social Media Presence Almost everyone with
    access to the internet has a social media
    presence. It is important to reach your customers
    through social media platforms like Instagram and
    Pinterest that allow agents to post pictures of
    potential properties. A strategic social media
    campaign can boost exposure, increase sales, and
    create new prospects.

7
  • Future Technologies to Look Out For
  • Staying on the lookout for future technologies is
    as important as adopting existing technologies
    for your real estate business. Real estate
    technology is about to undergo some major changes
    in the coming years.
  • VR Realtors are currently using Virtual Reality
    tech to post 3D videos/pictures for people
    online. The next obvious step is an experience
    that offers the customer a virtual tour of an
    entire property, using just VR glasses.
  • Blockchain Cryptocurrencies have proven the
    advantages of blockchain technology and it is
    bound to make its way into the real estate
    industry soon. The security, efficiency, and
    transparency offered by blockchain tech far
    surpass the offerings of conventional methods. As
    the real estate industry slowly moves towards an
    online model, block-chain may very well be the
    centralized unifying format all realtors follow.
  • Bottom Line
  • Technology is here to stay and while the real
    estate industry is still new to the introduction
    of tech into its processes, it is destined to
    soon be a part of every realtors daily life.
  • A business model that welcomes change is the only
    guarantee to success today. Start making use of
    convenient software that offers mapping and
    analytical tools, and even digital marketing to
    save time, boost sales and prospects. Embrace
    change and ensure a prosperous tomorrow!

8
Interested to see how Shape Software can prepare
your Real Estate business with sales, marketing,
and CRM automation? Book a free demo
today! Article Source- https//setshape.com/blog
/how-to-manage-your-entire-real-estate-sales-busin
ess-with-technology
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