Real estate technology adoption in a

REAL ESTATE TECHNOLOGY ADOPTION IN A POST PANDEMIC WORLD

The effects of COVID-19 on the housing market are significant and will leave a long-term change in the way the industry operates. Although this change may be disruptive and uncomfortable for some, it triggered a rapid and widespread adoption of real estate technologies that we’ve never seen before. All real estate players such as agents and brokerages are now taking serious reconsiderations towards technological platforms, tools, and services they need to effectively run their businesses in the ever-changing market today. The growing need for technological innovation is now a requirement for businesses to survive and thrive, especially in the current unprecedented and volatile times. Agents have learned the aspect of leaning on technology’s power to stay afloat and focus on running their businesses.

In recent years, we’ve seen sweeping changes such as the emergence of virtual brokerages, increased investments in operating system technologies, and catalyzation of remote working tools, driving innovation and reshaping the whole real estate landscape.

As we step into 2021, the competitiveness in the broker business is growing rapidly more than ever, and reliance on real estate technology will determine those who will get through this successfully. However, to be truly and fully modernized and automated beyond the time-consuming and manual processes that have been holding down the real estate industry for ages, there’s a need to look beyond the trendy apps and the isolated point solutions. This next level of technological evolution in the real estate industry is about extending technology and automation to establish effectiveness across the whole process of buying and selling while driving growth simultaneously.

SIGNIFICANCE The emergence of AI-powered tools and solutions has significantly helped automate many of the tiresome processes that divert agents’ focus from revenuegenerating activities. AI-powered tools can be the keystone to optimizing efficiency, cutting expenses, and generating real value for agents this year and beyond. AI can also help realtors automate the whole process of nurturing, concierge, tagging, and following-up. In other words, it can be the intelligent virtual assistant always helping realtors to work smarter.

Utilizing AI-powered chatbots also comes with benefits such as handling prospective clients’ requests who ask questions through the website. Since chatbots are fed with information over time, they become smarter and perfect the art of responses enabling them to boost conversation and support more closed deals. When the right time arrives, the user is notified and can step in to offer the services that only a human can do. Human significance.

It’s also important to note that no matter the kind of technology in place, it will never replace the human physical interaction and connection clients need. Home-buying and selling processes are emotional, meaning clients want to like and trust the agents who are working for them. No amount or level of real estate technology can clone the power of real human connection. The real estate technology only enhances the experience for both the client and the agent while ensuring the agent is fully focused on the client’s needs and the crucial details.

So much good than bad occurred in 2020 due to the pandemic, and the real estate wasn’t sparred. But from all the havoc came the positive change and innovation the real estate industry needed direly. All real estate players should harness this change and embrace technology’s power to support effectiveness and focus on perfecting irreplaceable client service skills.

Work cited.

https://www.housingwire.com/articles/real-estate-technology-adoption-in-apost-pandemic-world/