It may be hard to conceptualize, especially for first-time home buyers or those yet to embark on buying their first home, but 15 years ago, the real estate market was a different beast, information wise. When records used to be buried in file folders, it put buyers in a much different place than they are today, able to access detailed property records on their smartphones within minutes.
“Before, you spent a lot of time doing information gathering, and collecting, and response,” says Jeremy Wacksman, Chief Marketing Officer at Zillow. “The internet really opened the doors. Agents are freed up to help get the deals done. But now they have to be agent, negotiator, price setter, and a community resource.”
Wacksman sees technology shifting the role of real estate agent from an information arbiter to a local market expert and service provider (“It’s not about the data; everyone has the data now”), while brokers need to better leverage technology to help their team become responsive, active experts for their clients. While there’s always been some frustration over the work of certain agents, demands have only become more pronounced when ever-present technology lets everyone do their own research. Many in the industry feel success is about reacting to evolving client expectations, and adapting as technology changes the buyer-agent relationship.
“Clients today are much more knowledgeable,” says Tamir Poleg, CEO and founder of Real, an app that allows agents to ditch the conventional brokerage model. “They do online research, know what they’re looking for, and know the neighborhood. I understand the frustration people have working with agents who can’t provide the services they expect, then collect a hefty check. They key is for agents to be more responsive, understand better what the client wants, and justify the money that they’re getting.”
The availability of data, an established market norm for years, requires agents to be on their best games, says Michael McGrew, treasurer at the National Association of Realtors (NAR) and CEO/Chairman of McGrew Real Estate on Lawrence Kansas. Consumer’s ability to educate themselves is a net positive, he says, but there’s still an important role for agents, especially when it’s time for financing.
“It’s one thing to go online and get curious,” he says. “It’s another thing to look at financing options. People realize they can learn the alphabet and language, but they aren’t necessarily fluent.”
87% of buyers purchased their home through a real estate agent or broker, a share that has steadily increased from 69 percent in 2001
While technology is disrupting numerous industries the idea of making a massive, infrequent, and consequential purchase such as buying a home without the help of a trained agent still scares many buyers, according to Wacksman. If recent stats showing the dearth of for sale by owners transactions is any indication—according to NAR stats, 87% of buyers purchased their home through a real estate agent or broker, a share that has steadily increased from 69 percent in 2001—it’ll be a long time before the human element is taken out of real estate. But that doesn’t mean tech isn’t changing how that relationship works.
McGrew feels technological automation and standardization aren’t necessarily right for the real estate industry, when every property is unique, but feels there’s a lot of room to integrate new technology into the buying and selling process (“all of us in this business have to be committed to making it work better.”) The National Association of Realtors is a big investor in Second Century Ventures, a company that funds startups in the real estate industry.
Wacksman believes new technologies, such as video and VR tours, as well as programs such as DotLoop (an e-signing service Zillow acquired for $105 million last year that takes much of the paperwork of real estate transactions online), will streamline the process even further.
Poleg believes the as tech takes away barriers to information, the real issue is responsiveness and service. Technology will continue to provide more access to information, and agents and brokers need to continually be more responsive with clients. He envisions a time when bots become a tool to constantly respond to buyer request for updates and information.
“It you look at 2000 compared to today, the percentage of people using real estate agents is increasing,” says Poleg. “If someone said a robot could do your surgery, would you do it? Technology can replace a lot of things in a lot of industries, but real estate agent isn’t necessarily one of them.”
Source : Curbed
In The League Of Its Own? Transported Is Making Waves In The VR Property Marketing Segment
With the ease in which it could be played on most headsets, there is another player waiting in the wings in the property marketing segment.
Transported is a unique platform where the home tours could be created and customized in 3D. The feasibility of the platform is such that it doesn’t take more than an hour to install it. It’s not browser specific and could run across various browsers and is also mobile optimized. Since VR technology is here to stay and is also one of the most engaging platforms, Transported has left no stone unturned with respect to optimizing its features. With Room Teleporting, no hardware upsell, crisp sound enhancements and easy website page embeds; it gives its customers the first-hand experience on the feel of their new home.
According to the company, Transported tours do not take much time to create, it can take as little as 24 minutes to make the scenario after finalizing the details. They can be built on any operating system ranging from Macs to PCs, and agents can showcase their tour collection of the room on their profile pages.
The potential customers can check the tours on VR instruments such as Google Cardboard, Oculus Rift, and the Samsung Gear VR. As far as non-immersive VR are concerned tours can be experienced on dedicated tour webpages and mobile devices.
Transported is an effective entry into VR home tour market segment. The software that it uses are very easy to operate and very interactive in nature. It does give sci-fi interface from the get-go, which allows its users to select distinct properties tour by “tapping” information cards in the headset display.
It’s an ideal feature that makes Transported such a good buy for static showrooms and retail offices and also offers various listings to the buyers.
Aparna Construction Excels The Market With Its Digital Makeover
A leading real estate developer from Hyderabad, Aparna Constructions & Estates started its operations in 1996. Since then it is known for completing and delivering 36 projects comprising of fully-integrated gated community villas, residential plot projects, premium apartments, commercial projects, spread across 18 million square feet.
Aparna Constructions started its new website as the focal point of its renewed digital strategy. Aparna Constructions has joined hands with Hyderabad’s leading digital marketing firm, GenY Medium. This revamping of brand’s web property has recorded at least twice the amount of organic traffic since then and a steeper spike in the number of digital enquiries.
Putting the customers first, has always been the thought and vision of Aparna Constructions, which has been kept well in alignment with this digital initiative. Nowadays, a website has a critical role in establishing the brand’s identity as well as generating leads, and this could be very fruitful in the real estate sector. As the website is a digital interface, which can become an important touch point with the consumers. An efficient use of the website can enable the organic customer acquisition in a way that it becomes a key channel for lead generation, hence GenY Medium’s holistic approach towards digital marketing, cements the core strengths in consumer understanding and technology.
Being a technology enabled digital marketing company, GenY Medium operates out of Delhi, Bangalore and Hyderabad. Since its inception in 2012, the company has grown into a 100+ people company and has created proprietary technologies that revolutionize digital marketing.
On their collaboration with the GenY Medium, Aparna Constructions elaborates on the need of a digital platform for its multiple projects in different cities and locations. This website provide the users with a wide range of choices, in a mobile friendly way, by providing each user with a personalized web experience.
A deep research exercise was conducted by the Aparna Constructions’ business teams and the GenY Medium’s team, to understand the unique consumers’ mind-set and adopting to the most suitable technology. With its ability to personalize content, supplemented with marketing automation tools, the Oracle platform along with its suite of products, turned out to be an optimum choice.
Aparna Constructions believes that with this kind of technological interventions, their website has set a high standard in real estate segment. Each user is provided with a customized web experience based on geographical mapping by the implementation of Oracle Maxymizer. The next step in line is the integration of an automation tools like Eloqua, which is perfect for lead nurturing through emails. Eventually resulting into a more immersive, personalized web experience. The effect of this new venture has already started happening as the mobile users are spending more time on the website.
Aparna Constructions aims to carry forward the momentum gained from the new website to all other aspects of digital platform, with an aim of reaching the right consumer and communicating in a personalized and engaging manner.
Insomniacs Gives A New Approach To ‘Approach One’
The online media is known for wittiest lines and brilliant campaigns. The Approach One’s new campaign once again proves that agencies love this medium and they let their creative juices flow. The real estate lead management system and marketing software company introduced a quirky and refreshing campaign.
In tune with the company’s theme, a series of bright yellow creatives with bold white text definitely caught people’s attention on social and digital platforms. One copy read – ‘Mr. Garden nahi Mr. Gordon! Stop apologizing. Start improvising. Introducing new age lead management system’. It presses the nerves of the customer calling executives as well as the customers who never want to be addressed incorrectly, leave alone getting their name incorrect.
The copy also includes old Bollywood songs and some cult dialogues which not only make you smile but drive the message home. Ads like ‘Tumhare haath mein pura CRM system ho…saari jannatein tumhare pass ho’ or ‘Data ne tumhe chaaron taraf se gher lia hai’.
The ads have been conceptualized by the awarding winning digital agency Insomniacs. Explaining the objective of the campaign, Montu Achoriwala, Creative Head at Insomniacs said, “The idea was to introduce people to this marketing software and inform them of everything that it can do; all the while keeping it fun and interesting. The software has been built by real estate industry experts and so the customers need to understand how their daily hassles can be nullified with Approach One”.
He added, “We convinced the client to take an adventurous step and do this campaign. Software marketing is a serious business with serious promotion but Approach One saw how this campaign would give them the desired attention”.
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