Top 3 Marketing Innovations in the Real Estate Industry
Photo credit: SFIO CRACHO
The real estate industry is built on people and relationships, but new technology and increased numbers of home buyers using them to buy a home have changed the game – and not just over the millennia. If you don’t use these three innovations to market your services to prospects and market your client’s home to potential buyers, you may be missing out on a great opportunity.
Buyers and sellers cannot be everywhere at the same time. And neither can you be. Coordinating and attending open days and demonstrations makes up a large chunk of an agent’s time – and time is money.
In addition to 360-degree and drone videography, virtual 3D tours are now possible. With Virtual Reality (VR), a potential buyer can sit in the living room of your customer’s house at any time without him or her having to be there in person. Instead of losing potential buyers who cannot schedule a presentation, increase your pool of buyers – even in global markets who are unwilling to physically travel to view the property. They also have time to get more clients and put more marketing on their properties.
VR is also key for homes or properties that are still under development. While it can be difficult for a client to imagine themselves in an unfurnished house with wall studs, VR lets you create a tour that gives them a more realistic view of the room when it’s ready. Virtual staging is another innovative technology that potentially allows your client to showcase the look of a home without the hassle or cost of actually moving into staging sofas or dining tables.
Artificial intelligence (AI) is also an important efficiency tool for real estate professionals. Mapping homes in the market to buyers via local MLS systems has been around for a while, but AI takes that efficiency to the next level.
Within minutes of accepting a new listing, the details of this home can be matched with great accuracy against a buyer who is statistically likely to buy it. Instead of having to wade through paperwork, AI can help agents evaluate and analyze the documentation. This gives you more time to concentrate on processing the transactions and offering your customers excellent service.
AI can also be used to scan photos to get an accurate estimate of the value of a home, distinguishing granite surfaces from Formica or wood floors from carpeting. AI is already being used by companies like Zillow, but it’s clear that the technology will continue to impact the future of real estate and streamline the sales process for both homeowners and realtors.
Target SEO Keywords
Search Engine Optimization (SEO) uses certain keywords to help your website and other content appear higher in search results. People generally click through to sites higher up the list, so SEO is important, especially since organic search – or searching for specific terms – accounts for 95% of all web traffic on most websites. The first position on Google has a click rate of around 35%. So, you want your website to show up there, and not your competitors.
It is important to include relevant keywords on your website or in any online advertisement as this will help search engines drive traffic there and rank your website higher on a Google results page.
According to a 2018 survey by the National Association of Realtors, 44% of youngest buyers found the first step in buying a home was to search for properties for sale online. Of buyers who used the internet while searching for a home, 87% of buyers found photos and 85% found detailed information about properties for sale very useful.
Additionally, many use internet searches and ratings to find an agent to work with. With SEO, real estate agents can reach potential clients they might not otherwise contact. Very few people enter your exact website address. Instead, they’ll do a quick Google search to find you. SEO keyword leads may also be more likely to close the deal as you can find out a lot about a customer from the specific home buy or sell search.
While real estate giants like Zillow have cornered the market to get broad leads like someone looking to “buy a home in Atlanta”, individual agents can capitalize on hyper-focusing on specific neighborhoods or zip codes.
You can also pay for Google keywords to appear higher in search results. You will be best served if you use your specific expertise in paying for keyword leads – be it first time homebuyers, sellers looking to avoid foreclosure, or international clients looking for a summer home. Your specialization will set you apart from others, especially when it comes to SEO keywords.