Why 2016 is all about Lead Generation Technology in the Real Estate Industry
In 2016, most of us have close ties with a real estate agent, or can call upon one by leveraging our contacts. I for one have at least 20 friends or acquaintances which have become real estate agents. If I do the math on that, it’s actually a significant percentage of all my contacts; 5% to be exact. I can’t say I know as many other people that are all performing the exact same job.
The point I am trying to get at is that real estate is becoming a crowded and over-saturated market full of both buyer and seller agents in many of the major markets. It seems everyone is trying to compete for the same piece of pie.
This means that real estate professionals have to differentiate themselves from the rest when approaching potential clients. One way to do this is by leveraging new technology to get in touch with buyers when it matters most.
2016 is the year where more and more millennials will enter the market as first time home buyers. Millennials make up the largest group of home buyers in America, at 32% of the total market, based on the NAR study.
These Millennials are not likely to respond to the same methods of marketing directed towards their parents. They are not interested in fliers, fridge magnets or door-to-door soliciting. This approach is likely to render little more than agitation, leaving a large portion of the market untapped. In order to reach this growing population, you must reach out to them on platforms they are most comfortable with.
Those platforms are digital platforms. A whopping 94% of millennials used websites to look for a home. Of that population, 88% reported the number one most important website feature was great images of the house. A larger portion of millennials will use mobile applications and websites for real estate related purposes compared to any other generational cohort.
Millennials are savvy, and we will find you, so long as you’re in the right places. For this reason, I have compiled a list of the 4 most useful pieces of technology for real estate lead generation which will help you grow your business.
AskAvenue is a seriously cool concept, and the technology is available both on desktop and as a mobile application. While the Android app is still under development, the iOS version is ready to go. This Toronto start-up birthed the concept of what will come to be known as “real estate concierge”.
The app allows users to ask specific questions about properties in a specific location. Then a “real estate concierge” responds to the users’ questions, and gain exclusive rights to the user as a potential lead.
Further than this, AskAvenue works to reframe the responsibilities of real estate professionals. They make a distinction between the agent and the concierge: the former being numbers driven and utilitarian, and the latter a needs-focused comrade. AskAvenue works to build genuine relationships between buyers and realtors based on the idea that a real estate professional should be highly available, sensitive to buyers’ unique needs and circumstances and willing to go the extra mile to help their clients realize their homeowning dreams.
At the very least, the user benefits because they get a quick and easy answer to their questions, and the realtor benefits because the platform provides them with potential leads.
ReadyChat is another Toronto tech start-up, which has created a lead generation system that is just as useful to real estate agents as the other mentions. ReadyChat simply put is a live chat system for real estate websites which helps agents and brokers convert more of their website visitors into qualified leads.
20% of millennials believe that trust is the most important factor when choosing a real estate agent. Live chat systems help increase brand trust by allowing users to talk to a human operator on their own terms. The value in customer service and trust goes a long way in the real estate industry.
While your website might only convert 2-5% of all website visitors into qualified leads, ReadyChat boasts an ability to increase that lead conversion by 40%. So if you’re website was converting at 5% previously, this system will increase your overall conversion rates to 7%.
This system is great because it is very low involvement for the real estate agents as ReadyChat provides the agents with the live chat support from trained sales professionals, and also make their tool branded (white labeled) to your website, so it makes you look even more authoritative!
#3. Inside Real Estate
As I mentioned earlier, simply having a well thought out website with the most sought out features can increase your reach and conversion of real estate clients– especially the millennials. Inside Real Estate is a comprehensive solution for making real estate websites which are mobile friendly, use IDX integration for MLS listings, includes automated CRM, reporting dashboards and many other features. Combining a well thought out and designed website for millennials and integrating a live chat system like ReadyChat would make for a killer all-around strategy for leveraging your online presence.
Another great lead generation software option is Wishpond. This system offers a range of useful tools allowing you to build landing pages, website popups, forms, personalized automated marketing, email marketing and lead scoring.
What’s more is Wishpond integrates with the most popular applications related to CRM, email marketing, surveying, webinar, team chat, and SMS. That means Wishpond can act as a digital marketing hub complete with all the tools you already leverage for your business. As mentioned above, connecting with potential clients through digital mediums is of increasing importance, and Wishpond helps you do just that.
The interface is powerful yet intuitive, granting you access to important tools and metrics without straining the eyes. And if you’re overwhelmed by the capacity of this system, Wishpond offers a learning academy wherein users can enroll in free courses in the areas of email marketing and lead generation.
Buyers’ behaviors are evolving in the real estate industry, so realtors must evolve too. By learning and leveraging digital tools, you’ll have clearer lines of communication with potential clients, generating more leads and ultimately, more opportunity.
Images: ”Author’ s Own“
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Author Bio: Tudor Stanescu is a passionate Digital Marketer from Toronto at 80 Proof Digital. When he is not working on a marketing campaign he enjoys spending time with friends, playing video games or taking photographs for his personal photography blog. You can follow Tudor’s internet adventures on his Twitter or Instagram.Read Full Bio