A guide to Improve productivity and efficiency

The real estate industry is one of the oldest, most established industries in the world. It's also one of the most important and profitable sectors for any country's economy. Real estate agents help facilitate transactions between buyers and sellers, providing an essential service that keeps our economy moving forward.

One thing to note about real estate agents is that they have traditionally been known as "brokers," not "agents." A broker works on behalf of clients who want to buy or sell property; they represent their clients' interests in these transactions by finding suitable homes or land parcels that match their needs, negotiating prices with sellers and buyers and then closing deals once everything has been agreed upon by both parties involved. These agents are now facing a digital revolution where leveraging the technology they have available has become a key part of their profession.

The benefits of technology in real estate are numerous. There are many reasons why real estate agencies should be using technological tools to improve their business, the main one being increased efficiency. With a streamlined process and less manual work, you'll be able to spend more time focusing on the things that matter most to your clients and customers. In 2022 for example, our champion hosted 553 guided virtual tours which lead him to save 18.5 days of work.

Virtual Tours

Virtual tours are becoming more and more popular among real estate agents. They give the potential buyer the ability to envision themselves in a property all the while allowing agents to quickly measure interest and focus on the hottest opportunities.

Real estate technology solutions are the key to transforming your business. The real estate industry is in a state of flux, with technological advances changing how we do business and interact with each other. Efficient Collaboration and solutions that enable teams to work together are nowadays more important than anything else.

In response to this evolution, there are several types of real estate technology that can be implemented to improve productivity and efficiency:

• Marketing and advertising solutions:
  These solutions help agents reach more potential buyers by leveraging online marketing tools like social media, search engine optimization (SEO) strategies, video creation and editing software. Modern solutions allow you to schedule and automatically publish your posts to all your channels at once all the while tracking and measuring engagement to ensure maximum visibility.

• Video Technology:
  With the current video technology, it is now possible to create unique professional property videos in minutes by leveraging multiple types of content. Record sequences directly from your phone, select any visual from your property gallery, or import external media. Drag and drop clips to build the perfect result, on the go or from the office, on your mobile or from your desktop, here wherever and whenever you need.

• Smart links:
  With Smart Links, Measure and track all the activity on your property listing in one single place, differentiate viewers from interested candidates to take informed decisions based on data and invest your energy in the right opportunities.

The impact of technology on real estate agents is a mixed bag. On one hand, it's created new opportunities for them. New technological developments have drastically increased the online visibility of agents, virtual visits published online by Nodalview users have received more than 49 million views, which represent a staggering average of 300 viewings per virtual visits. However on the other hand, it's increased competition and made customer service a challenge.

Technology has made it easier for anyone with an internet connection to sell their houses and even become real estate agents without proper training. Modern solutions are encouraging this trend by giving access to professional photography with only a smartphone but also video editing and even real estate social media editor platforms. However this also means that there are more agents out there than ever before, and as such, competition is fierce. In order for you as an agent or broker to succeed in today's market you have to face real estate technology challenges.

Real estate technology challenges

One of the challenges is adapting to new technology. When you're working with an industry that hasn't changed much in decades, it's difficult to keep up with the pace of innovation and the trends that come with it. However it can also be seen as an opportunity, a lot of this new technology is currently being under-exploited. Through these innovations, agents can now have access to high quality photos, videos and virtual tours, however we see a disparity between their demand and usage in published listings. Professional photos appear in 35% of properties for sale, videos have a current usage rate of 0.5%, and virtual tours are only used in 13% of ads in France for example, same goes for floor plans at only 9% in France.

Another challenge in real estate technology other than adapting to innovation is its cost. Real estate agents and companies need access to capital in order to grow their businesses--but banks aren't always willing or able to provide loans at reasonable rates.

In other words, facing these challenges is not easy, but it would allow agents to differentiate themselves from their competition and be at the cutting edge of real estate technology.

The future of real estate technology is bright, and it's going to be a great time for real estate agents. As technology continues to improve, there will be more opportunities for you as an agent. Here are some things that you can expect:

• Improved customer experience:
  Your clients will get better service thanks both directly from your own efforts as well as indirectly through improvements made by other companies working on similar products and services within their industries. Real estate videos are becoming easier to produce and edit and are therefore more common, professional photographs are now available with your own smartphone with Nodalview’s Smart Fusion ! Virtual tours and floor plans are also a great example of the increase in formats available to sell a property which makes it easier for potential buyers to envision themselves in their future home.

• Greater automation:
  As artificial intelligence (AI) becomes more advanced, some tasks like data entry or scheduling appointments will become automated. However you will still need a human touch when dealing with clients who have special needs or if something goes wrong with the system--but overall your job will become easier!

The real estate industry is changing, and it's changing fast. Technology has had a huge impact on how we buy and sell homes, as well as how we live in them. It is now up to the real estate agent to leverage the technology to adapt to these changes.