Technology is becoming the key that separates the most successful real estate agencies and brokerages from all the rest. You do not need to be part of a huge team to take advantage of the latest artificial intelligence (AI) or machine learning, however: It is within your reach right now.
Real estate agents have always faced this critical issue: When someone wants to buy, it isn't always easy for them to tell the difference between one agent and another. With the right technology, applied in the right ways, you can meet their needs proactively — that's the ultimate differentiator.
Making the Most of Today's Technologies Starts with Knowing Yourself
One of the most quoted aphorisms in history begins, "Know your enemy and know yourself."
It may seem counterintuitive that in a world overflowing with tools that aim to uncover more about your customers, you must focus on knowing yourself. But this is the step agents should take if they want to build a thriving practice that offers them the best work-life balance possible.
If you do not strive to know yourself, even the best real estate marketing software will not unlock your full potential. But when you begin by understanding exactly what kind of business you plan to build, technology becomes the facilitator you need.
That begins with two key questions:
In their first year, agents may spend all of their time chasing down leads in an effort to understand these two questions. They are learning the ropes, trying out various transactions and client types. Once you're ready to identify your core customers, then technology can equip you to exceed their expectations.
What Are the Most Important Technologies in Real Estate Today?
Thanks to the forward-looking innovation of top real estate thinkers from decades ago, our industry has access to vast quantities of data. Before anyone else realized just how important that was, the MLS was making virtually all U.S. properties and real estate transactions available at a glance.
Much can still be done to improve on and optimize listings — features like virtual tours, to give just one example. But improvements in individual listings are truly only the beginning. You must embrace a technology-driven shift in how you conceptualize your workflow and business.
Three emerging pieces of technology are transforming real estate as you read this:
Let's take a closer look at them and what they mean.
Adopting an All-in-One Real Estate Center of Excellence for Your Practice
Not that long ago, even basic artificial intelligence was the stuff of science fiction. It was worked on in the most exclusive universities and think tanks, and no products took full advantage of it. Today, your ability to use AI is limited only by your ability to envision a better future for your business.
At Delta Media Group, our all-in-one real estate solution puts the most powerful artificial intelligence available in the industry directly into your hands. Our customers are already using it to save time and money, zero in on opportunities with their leads, and help properties close faster and at better prices.
The centerpiece of our strategy is in real estate marketing automation.
Marketing is crucial to defining and growing your business, but it often falls down the priority list. Our seamless, AI-driven approach ensures machine learning integration in every aspect of digital marketing.
From email marketing to social media and everything in between, Delta Media Group customers can deliver highly valuable content targeted to the precise needs of their leads and customers. Once you're set up, you'll often spend only minutes a week ensuring helpful, informative contact that gives a "high touch" experience to your network — without the hours of effort on your part that high touch implies.
Contact us today to find out more or get started.
Artificial intelligence is no longer just a sci-fi fantasy, a dream of data scientists, or a catchy buzzword. The technology for AI has developed so much in recent years that it's quickly making an impact on — and potentially reshaping — nearly every major industry. Real estate is certainly no exception, with AI already making its presence felt in both subtle and obvious ways.
Does that mean that agents will soon be largely replaced by AI, with little work left for humans to do? Fortunately, you can take a deep breath, exhale, and know that your job is not in danger from AI. The truth is that AI in real estate can save you tremendous time on monotonous, repetitive tasks, allowing you to spend more of your working hours on the things that matter most.
Let's start with the basics. When we talk about AI in the present day, we're not talking about an all-seeing, all-knowing computer like you've seen in movies or read about in novels. Today's AI is designed to handle specific tasks in a fast, reliable, consistent way. Here are some of the ways that AI can lighten your workload on repetitive tasks and create more time for you to serve your clients:
How Will You Invest the Time Saved by AI?
The examples above are just a few of the ways that AI can make life easier for real estate agents and dramatically speed up tasks that once took up far too much time. That means less work on the tasks that you probably didn't want to be doing anyway, but not less work overall.
Ultimately, the promise of AI in real estate is that you'll have more time to focus on the work that really matters. Think about every day that you've wished that there were just a few more hours to get done everything you needed to do. AI helps make that dream a reality without compromising on productivity or sacrificing your free time. All you have to decide is how to invest those hours that once went to tasks that can now be handled by AI.
The Future Is Bright for AI in Real Estate
One of the exciting things about AI is that despite the significant progress that's been made, we're still only scratching the surface of what the technology can do. The future is bright for AI integration in real estate, and we'll be sure to continue bringing you the best, most modern tech to help you thrive as a real estate agent.
Real estate has long been considered one of the best investments of all.
The sterling reputation of owning a home as a way of building wealth took a beating among Millennials after successive waves of downturns and crises. Now, it's on its way back. Up-and-coming Generation Z made a strong showing in homebuying during the pandemic.
Only a fraction of that generation is old enough to enter the market now. But general trends indicate they look at buying a home as an important life milestone — and a goal to be pursued at earlier ages than ever before. This is sure to shape the real estate landscape for years to come.
In short, they have a different view of their return on investment.
ROI is the ultimate goal of any investment. It stands at the heart of the concept of "putting your money to work for you." If your return on investment is flat, it's evidence that you could have gotten greater value from that money elsewhere. If it's negative, then you've identified a bad investment.
To succeed, real estate agents should put this concept at the forefront of their minds.
Real Estate Technology May Be the Best Investment an Agent Can Make
Every time you choose one solution over another for your business, you are making an investment. The goal is to make money or save money. However, it's not always easy to trace the path from the tools you use to your bottom line. To make the connection, go back to the simple maxim everyone knows:
"Time is money."
If you can save time, you can make more money. Even if you don't "reinvest" that saved time directly into work hours, it still makes a difference. After all, having more time for rest will enable you to do your best work longer and more consistently. This is always more productive than just getting by.
On its own, real estate technology can't promise you'll close more deals or get more leads. But it can serve as a platform to accelerate and simplify your use of the skills that yield those results. It multiplies what you are capable of. Imagine doubling or even tripling your productivity without making a hire!
Now is the time to seek out and implement the modern tools that make it possible.
Real Estate Technology Is on the Grow After Pandemic-Induced Slowdowns
The pandemic drove tremendous evolution in the real estate market in a matter of weeks. A rapid pace of change was imperative to keep transactions moving while maintaining safety for everyone.
With pandemic restrictions beginning to fade, it's clear that real estate won't be returning to "business as usual." Many pandemic-driven changes are here to stay, and technology facilitates it all.
All in all, real estate technology has two big effects:
There's no greater example of this than the virtual home tour. Virtual tours were gaining momentum before the pandemic, along with other types of interactive and video content. To expand buyers' search radius and protect sellers from dealing with crowds, they mushroomed practically overnight.
As a result, real estate technology solutions have evolved to make them easier, even for agents who have never been comfortable in front of the camera before. The tempo of technological innovation is sure to remain upbeat as work gradually returns to normal and teams can collaborate more easily.
Artificial Intelligence and Automation Combine to Make Real Estate Technology Work Better
Two core capabilities define the real estate technology of tomorrow:
For example, real estate agents from coast to coast use social media. It is the #1 source of high-quality leads for many agents and firms. But on its own, social media can be a time sink. Automation speeds up the process of using it, while artificial intelligence verifies the business value that it can offer.
DeltaNET™ 6 is the all-in-one real estate solution that unifies these two capabilities in a way designed from end to end with your unique needs in mind. It gives you complete visibility into all of your contacts, customers, and brand advocates, where they stand, and how best to connect with them.
Delta Media Group is constantly expanding and improving its product line. In 2021 alone, we've added dozens of additional free features to DeltaNET™ 6. By adding more value, we aim to become your best investment in the growing world of real estate technology.
Contact us to find out more or get started.
Artificial intelligence is poised to become the next big thing in real estate.
Lots of ink has been spilled about the potential of AI to replace jobs. But as the pandemic has shown, that future remains a long way off. Instead of displacing professional expertise, AI has the potential to serve as a highly versatile and adaptive "multi-tool" that can help real estate agents and their clients.
In fact, it is already affecting every stage of today's real estate transactions. To understand what makes artificial intelligence so exciting, it's best to begin with the basics.
What is Artificial Intelligence, Really?
Artificial intelligence enables a piece of software to make inferences and draw conclusions based on a set of data. Some AI, called Natural Language Processing (NLP) systems, have the ability to interpret and answer a question posed in the "natural language" that ordinary people use every day.
AI has been around since the 1950s. However, the processing power and bandwidth available today has driven it to new heights. Everyday people can now interface with AI-based systems using the supercomputer they keep in their pocket. This is accelerating AI development on a grand scale.
Automatic processing and data collection are where today's artificial intelligence tools shine. They aren't always great at solving complex problems alone, especially when that means applying creativity. But they help agents, buyers, and sellers "connect the dots" and gain deeper insight for more informed decisions.
Let's dive in and see what artificial intelligence is doing to improve today's real estate world.
AI is especially crucial for real estate agents in their never-ending quest for lead generation.
These days, the vast majority of lead generation is bound to happen online. Agents' real estate websites and their social media are the two biggest planks in the strategy. Both can be enhanced by using AI to generate branded customer care experiences in a seamless and delightful way.
Machine learning is on display in a modern real estate all-in-one solution like DeltaNET™ 6. By continuously learning about buyer and seller behaviors based on past transactions, it finds patterns within millions of data points — patterns invisible to even the keenest human analyst.
This saves time by automatically scoring leads and facilitating effective follow-up.
Home listings are already searchable in massive quantities in any market you care to name. But buyers in particular depend upon real estate agents to sort through the oceans of listings and find those that meet their criteria. Agents, in turn, can look to artificial intelligence to accelerate the process.
Yes, the process typically begins with the AI system pulling in data entered by the real estate agent or directly by the buyer. By monitoring details like how long was spent on each listing and which photos were looked at, however, it highlights factors that allow it to surface additional listings faster.
This equips agents to send a curated round-up of listings to their buyers so they can act faster.
Real estate transactions aren't as confusing or complex as they might look from the outside. Still, there can be many twists and turns – and there's a lot both buyers and sellers don't know. The right AI can streamline transactions, making data searchable and easy to reference when you need it.
One of the biggest advantages to artificial intelligence is how it can cut down on human error. While it's always a wise idea to double-check every document, you no longer need to worry about tedious data entry that can introduce problems. Instead, software auto-populates forms contextually.
We all know of an AI-driven valuation tool that's notoriously off the mark in many of the estimates it gives. Despite that, AI-driven property valuation is growing better by the day. One key to making it work effectively is to cross-reference data from multiple vetted data storehouses.
By doing this behind the scenes, a machine learning tool can determine how much weight to assign to different sources. Ultimately, estimates continue to improve. Instead of spending hours developing a list of comparable sales, you can quickly generate a report and double-check the figures.
The lending landscape will always affect real estate agents and their clients, so it's crucial to know what changes are around the corner. Mortgage lenders have jumped into AI with both feet, using it to tame the ferocious process of underwriting — which can involve hundreds of documents.
Artificial intelligence can highlight key points within an entire corpus of documents, allowing lenders to make an initial determination in a matter of hours rather than days or weeks. As the process continues to get faster and more accurate, lenders stand to double or even triple their productivity.
Contact us today to learn how you can capture AI's power with confidence using DeltaNET™ 6.
Customer Relationship Management software transforms the way you do business. Our CRM software is the Pipeline Manager found in DeltaNET 6, and it has been designed for the real estate professional to make your life easier.
A CRM automates workflows throughout your day so you can perform your job faster, easier, and more efficiently. You'll no longer need to spend hours every week, determining where your leads stand in their home buying or selling journey.
What's more, you'll end up with a higher quantity of qualified leads. Pipeline Manager helps you build a repeatable, reliable process for attracting, qualifying, and converting more leads overall.
CRM is particularly effective at keeping you "top-of-mind" and establishing you as a trusted local real estate expert. It may take months for leads to move forward on their real estate plans – but once an agent adds a prospect to their CRM, they can receive ecards & flyers to help them stay motivated. Pipeline Manager provides a full suite of efficient follow-up technologies.
Let's look at some of the ways sales associates are using CRM for lead generation.
The decision to buy a home is one of the biggest anyone makes. Still, leads have other things on their minds, too. They might find themselves motivated to act fast at one time, only to be slowed by other priorities at another.
Keeping track of real estate leads can be tough because much of their thought process goes on behind the scenes. They do their own research about local real estate firms, homes for sale, and other topics before they get in touch.
Once they do, there are new factors to consider:
Navigating all these issues while staying top-of-mind with leads is no small feat.
Luckily, Customer Relationship Management software provides answers that work.
In real estate, there are thousands of important tasks you could complete on any given day--but there's time for only a dozen or so. As your real estate practice grows, it becomes even more important to leverage technology so you can make the most of your time.
As our previous post on real estate automation shows, the number of ways to automate day to day real estate tasks is expanding. Built-in artificial intelligence allows software to streamline your workflow and perform tasks that once required personal attention.
For sales associates, one of the most powerful ways to use automation is digital marketing. By making your marketing efforts more consistent, you'll attract more leads. You can also cultivate more of those leads into customers while still managing your time effectively.
Let's look at the most powerful ways real estate automation software can help:
It's often said that everyone gets the same 24 hours in a day. The trick: Not everyone has the same tasks to perform or the same obligations to attend to.
When you think about it, people who have a large staff to take care of things actually have a very different 24 hours in their day: One that lets them stay focused on high-level tasks.
Most sales associates don't have a dozen people to help them reach their goals, but anyone can have the next best thing: AI-driven business automation.
When it comes to automating tasks in real estate, one area stands out above all the others: Marketing. After all, marketing is a very complex topic. Many sales associates launch a career not knowing anything about it, and few want to reinvent the wheel by learning it all.
Marketing is essential to growing your practice. It builds your brand and helps you get a steady stream of leads. Luckily, there are more ways than ever to automate real estate marketing.
Let's look at some easy, effective real estate automation approaches: