Technology is transforming real estate businesses by providing digital gadgets that streamline their operations and enable them to achieve success. Real estate agents are now better equipped to handle transactions, paperwork, and property tours. These real estate tech make the entire process more efficient, scalable, and, above all, customer-focused by playing critical roles in how agents sell, buy, and manage properties.

Virtual reality technology makes it easier for customers to view homes without leaving their homes, and CRM software makes it easy to manage client interactions and relationships. All these are smarter ways to improve client satisfaction and sales. Aware of these benefits, tech in real estate is a must-have. Are you interested in learning more about these crucial tools? Continue reading this article, which outlines the most important tools that can give you a competitive edge in the real estate industry.

6 Crucial Real Estate Tech That Improves Sales

This is a digital age, and technology is revolutionizing many aspects of our lives. To improve sales, you really can’t ignore advancements in technology, AI, and blockchain. Let’s look at some of these fantastic innovations.

#1 Virtual Reality (VR) Property Tours

Zillow conducted a recent survey and found that 79% of respondents preferred to view 3D virtual tours and digital floor plans when considering the purchase of a home. Researchers found that a 3D house tour offers a superior immersive walk-through experience compared to traditional 2D images.

Virtual reality is a game-changing technology in real estate, transforming property tours. This tool provides a unique and immersive experience by enabling buyers to explore homes from anywhere at any time without physical presence.

Consider Sarah, a busy executive in Singapore looking to invest in a luxury condo in Miami. Through VR tours, she was able to virtually walk through 15 properties in a single afternoon, narrowing down her choices to two favorites before flying in for final viewings, saving both time and travel costs.

This is a beneficial save during a post-pandemic era or when physical constraints limit clients. VR tours also save agents and customers the time and money spent on in-person visits to properties.

Among the benefits of this valuable tool is easy accessibility to properties for customers who live in a different country or outside of town. It gives them the convenience of having a feel for the properties without the need to travel. With these tools, customers can understand the properties and view all their features, and agents can close deals faster.

#2 Artificial Intelligence (AI) and Predictive Analytics

Let’s move on to another incredible real estate tech: AI-powered predictive analytics. Integrating this tool in real estate can give agents a glimpse into future market trends and help them better understand customers. The United States real estate market expects artificial intelligence to contribute more than $180 billion.

Predictive analytics analyzes historical data and forecasts future outcomes to enable agents to make accurate and informed decisions on time. It allows agents to determine the best time to market properties, favorable price points, and suitable marketing channels.

Predictive analytics can also generate leads for real estate agents. It helps them identify potential clients, anticipate their needs, and tailor their strategies to align with their demands.

For instance, you can identify a new lead and recommend properties that meet their requirements by evaluating their online activity, preferences, and budget. It helps you make strategic moves in your businesses that improve sales performance.

#3 Real Estate Customer Relationship Management (CRM) Software

The worldwide mobile CRM market is projected to experience an 11% increase, reaching $15 billion in 2023, driven by a growing demand from businesses looking to engage with customers via mobile devices. Additionally, 81% of CRM users now utilize their software across various devices, prompting the upsurge in cloud-based CRM solutions.

As a real estate expert, you should have CRM software as an integral part of your modern real estate business. Organizing your client’s data and using this information to build relationships that improve sales is the essence of effective customer relationship management.

This real estate software can manage data and also offers customization benefits that allow agents to tailor the system to their business needs and demands.

You can track interactions and follow up with prospective clients from one place. They also improve your marketing efforts and free up time for you to focus on selling properties. Its marketing automation features enable agents to send personalized emails and newsletters that will enhance customer experiences.

#4 Drone Photography and Videography

Drone technology provides a new perspective and broadens clients’ horizons. Potential clients can now view properties, hard-to-reach areas, and surrounding landscapes using the high-resolution aerial photographs and videos drones provide. Naturally, traditional photography cannot capture the aerial perspective that drone technology provides.

Data from the Multiple Listing Service indicates that properties featuring aerial imagery have a 68% higher chance of selling. This digital gadget can produce compelling and attractive marketing materials that showcase large estates, commercial properties, and homes in scenic locations. You can certainly attract more buyers in a crowded marketplace with high-quality images of breathtaking views and sprawling skyscrapers. Incorporating real estate drone technology is an investment that will lead to quick and profitable sales.

#5 Blockchain for Secure Transactions

Blockchain, an emerging technology, is revolutionizing the process of real estate transactions. This technology fortifies security as it provides a safe and transparent way to manage real estate data and handle transactions. The decentralized transaction process cuts out the need for middlemen or intermediaries, streamlines the closing processing, and prevents error risks.

This robust and secure framework guarantees tamper-proof storage of financial transactions and property records, making fraud nearly impossible. Smart contracts in blockchain now enable real estate agents to conduct transactions, automatically executing the terms of a deal when conditions meet. This will improve your sales since you can now close deals in a matter of days rather than weeks or longer.

#6 E-signature Software for Paperless Transactions

During the height of the pandemic, Maria, a realtor in Chicago, closed a $1.2 million property sale entirely remotely. The buyers were relocating from Europe, and they used e-signatures and virtual processes to complete the transaction without printing a single piece of paper.

Electronic signatures are simpler ways to sign documents for quick and convenient real estate transactions. You don’t have to wait for hours or days to physically sign a document anymore. This e-signature solution in real estate apps enables you to sign paperwork, contracts, and other transactions in a brief time.

Another benefit is that it provides a high level of security to documents by utilizing an encrypted digital fingerprint. This quick and efficient tech reduces errors and speeds up the deal-closing process. You can focus on selling properties without having to think about meeting with a client somewhere to sign a document.

How We Can Help

At North South Tech, we believe in the power of technology to transform the real estate industry. From virtual reality tours to blockchain-powered transactions, some of the cutting-edge solutions discussed in this article offer exciting ways to make the process easier on realtors, improve the client experience, and ultimately move sales.

Look to us as a sure technology partner, and we shall get you back on your feet in the lion’s den that this digital landscape has grown to be. Our team of technical experts works with you to identify and develop strategies to seamlessly integrate these game-changing solutions into your business.

Consider the impact of virtual property walkthroughs, which allow clients to experience them from home. Or the efficiency and safety of blockchain-enabled transactions, completely bypassing the tedium of traditional paperwork. These are some ways whereby we enable you to stay ahead of the pack and outshine the competition.

Adopting these transformational technologies will elevate your brand and give your customers unmatched ease and satisfaction. Let North South Tech take you through this digital revolution. Take the first step toward a future-proof real estate business by connecting with us today.