Blog

November 19, 2017

The future of real estate technology

There’s no doubt that to keep up with the times, you need to be on top of technology in all aspects of your life. Tech changes almost daily, and keeping up with in the commercial property world may be time consuming, but it sure will be worth it if you do it right.

There are so many aspects of technology that you really should be aware of to make your life easier, and increase your sales, and we have outlined a few of the major ones below that although they are ever changing, they will make life easier for years to come.

Software to ease your running struggles.

The real estate industry is facing forced evolution thanks to innovative tech tools and the bar has been set high.

Cloud-Based Data + Real Time Reporting

Property management tools have revolutionised the way real estate professionals operate.  Using cloud based data, real estates can gather and utilise information relevant to properties and projects Everything from floor plans, availability, pricing and prospective buyers can all be matched with cloud based data retrieval at the touch of a fingertip.

Rent Determination / Collection

Programs like Rainmaker LRO determine pricing of properties in a similar way that platforms like Expedia do for travel. Pricing is attuned based on real-time supply / demand meaning owners can increase profitability, while keeping property occupied.

Property Management

Property management software is a game-changer in the real estate world with ways to track inventory and assets, monitor construction schedules, manage contracts, process rent payments, and market and communicate to prospective buyers or renters. 

These applications are a can help organise your portfolio, and analyse your own business performance for improvements.

Drones and Imagery Tech

If you have plans to use video and photos for your advertising, you might as well make it stand out. Using drones to capture images and video of a property is one of the best ways to really grab attention of prospects. With email marketing campaigns, adding a video will increase your chances of click through rates to your website immensely. If you don’t believe how well it will do, simply try it. Some research shows that adding a video can increase click rates by almost 95%. Drone footage has the benefit of presenting a property’s relationship to the surrounding community. If you have drone footage showing proximity to landmarks or transport options, it can entice the prospects to enquire.

Tech is continually changing and so should your view on how you run your own business. Being in front of your competitors is a matter of being in front of technology.