Digital Transformation of Real Estate Companies

Digital Transformation of Real Estate Companies

• posted - 30 September 2020
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Digital Revolution of the Real Estate Sector

The real estate industry has gone in an overwhelmingly consumer-centric direction. A staggering amount of consumers are interacting with real-estate services via the latest key digital mediums. If real estate companies intend on remaining relevant, they would need to invest in the range of digital marketing solutions as well as other productive online tools, for instance, AI chatbots, e-mailers, digitours, virtual walk-throughs, customized video presentations, to foster trust and build up brand value despite not having a face to face meeting. The means of research for tenants and homebuyers are no longer the same as in the past. Those that disregard the power of digital marketing channels will be left behind by their competitors. Real professionals need to realize that customers today want to get details about the state of the property that they have invested in, swiftly and with little delays.

Here is a list of some crucial ways of executing digital transformation in real estate software solutions.

Research for a Suitable Property

Before actually investing in a product or service, consumers conduct a thorough research by means of feedback, reviews, and other related online data.  Companies can take advantage of this behavior by updating data on their properties through aggregate platforms, their own website, and other online resources. Potential customers can benefit from this, as they can look up property features and directly contact owners if they want to follow up on a particular property.

Automated Data Updates

Updating data to a database can be a painstaking and long process for businesses that function by means of a variety of important data. Data used in the real estate industry include:

• the current number of free property units;
• their current rate and other features;
• modifications to different parameters if necessary;
• adding texts, photos, and other details.

With an integrated IT system your business would be able to coordinate changes in a real-time mode, decrease routine operations and boost business productivity.

3D Models and Visualization

Employing advanced software, you can develop striking hyper-realistic visualizations of a home or office space which enables customers to visualize how the property will look much before the construction process even begins. Virtual reality gives both customers and sellers a way to save time and money that would be needed for real estate preview, by allowing customers to tour the property remotely. This can play a critical role in the purchase decision and rate of conversion.

Employing CRM system

As with all economic sectors, a CRM system also plays an important part in the real estate industry. This is particularly applicable since a huge amount of data is used:

• real estate property and its features;
• transactions at various phases of the sales funnel;
• information on customers, realtors, companies, etc.

Using CRM software, you will have the capacity to store all the data in a single location, without any data loss and be able to create efficient reports.

Developing smartphone apps

Creating customized apps will enable real estate professionals to target potential clients. It can also be used within the company by the employees or have a blended mechanism to cater to both clients and employees on a single platform, with access rights differentiation. Developing an app for your real estate business provides you with the capacity to remotely access your required data or swiftly make modifications to the database effortlessly.