In a time of technology enabled with mobility real estate agents are evolving and moving beyond their traditional roles
Real estate is slowly moving to become more organised and as an emerging industry it has seen a lot of investment into technology innovation over the past few years. Technology today has changed the way the real estate business operates. The business has now adapted itself to become more interactive with customers and the sales and rental process of the industry has matured. Social media has opened new doors to real estate companies who can now showcase their properties better and to a larger audience at lower costs. But what does this mean for real estate agents who have traditionally been the route many have taken for their real estate transactions? The expansion of the Internet with mobility and social media has given rise to new generation of real estate agents.
Technology driven Knowledge resources
Today real estate agents have increasingly been moving away from tedious tasks and have become knowledge sources to understand deal, legality and finances for any property transaction. In the rental market, while consumers may key in requirements into a portal, it’s the agents who are able to match them up beyond the basics. While the listings on the website may give you the technical specifics about hiring a new space, the real estate agent would probably be able to fill you in on the invisible small print behind the deal. The real estate agent now serves as a concierge who focuses his/her efforts on guiding individuals and businesses through the entirety of the rental and leasing process. In many luxury markets, from the famed Worli area outside Mumbai, to West Palm Beach real estate, high-touch agents have emerged to fill in the non-technical service gaps.
AI enables assistants
The newest kids on the block are virtual real estate agents that are powered by Artificial Intelligence who are able to converse with customers on websites and over messaging services. These new agents are the equivalents of Siri and Alexa for the real estate market and they can be programmed to assist real estate agents in tedious tasks or even conceptual assistance with customers.
Housing Market Data
Today with the advent of massive internet databases, real estate agents are more knowledgeable and are able to access data which includes home prices, inventory, offers, legal conditions and also sale values. Options are unlimited and there is more transparency in dealings. These platforms also provide data analytics that help real estate agents track their customers and project progress. They can also tie up with banks and credit companies who will also provide a portal for loan processing.
There are several start-ups that are pushing the envelope of the real estate market and bringing out newer and faster ways for real estate agents to interact with customers. At Pin Click we are trying to use technology innovations to build a more objective customer experience and create analytical tools to improve sales operation efficiencies. The advisors are full service agents with access to smart tools to improve property buying experience of customers. In a nutshell we do everything that a traditional agent would have done but with modern technology to get customers their preferred home faster & better.
It is an exciting time to be in real estate as an agent. Tech-fueled innovations are changing the way agents and customers interact and work together and the space is showing good progress in the residential and commercial market. This would be nothing but great news for everyone involved.
This article was put together with contributions from Pin Click, whose mission is to simplify home search using technology, people and process enabled solutions to help people search, view and move into their new homes.