The Power of Automation in the Real Estate Industry

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For many real estate companies, technology has certainly improved business strategies and processes. But some companies may still hold on to “traditional” ways of doing business, and are unaware of how technology and automation can help a business.

 

Even though managers may know that technology can help, it can be difficult to justify investing into technology if they aren’t aware of exactly how technology helps.

 

In this article we’re going to highlight several ways that technology and automation can streamline several important processes in the real estate industry.

Software effectively used by transaction coordinators

Transaction coordinators have a very important role in the real estate industry. They’re often hired as overall transaction managers and assistants to real estate agents, performing many administrative tasks in all areas of a transaction, rather than focusing on anything specific.

It’s an important job because it reduces stress amongst agents and employees. In some ways you could say that much of the real estate industry’s stress gets dumped on transaction coordinators, but they’re often grizzled veterans who understand the ropes, and can streamline many workflows in the transaction process.

Of major help is software for transaction coordinators, which is developed often specifically for their role in mind. Because a transaction coordinator needs to be managing many different aspects of a transaction, from listings to sales commission for agents, they need software that connects all of these things together.

Even though automation is on the rise, transaction coordinators are in no danger. Somebody needs to watch the AI watchmen, after all.

Scheduled social media posts

Social media as a marketing tool offers many valuable tools. You can target your ads to very specific demographics, which will result in lowered CPC costs. This is much better than traditional website banner ads, which are the equivalent of online billboards.

 

You might’ve heard that social media helps companies to market themselves, but you can’t imagine how publishing social media content to the vast internet space actually drives potential clients to a business.

 

In fact, “social media marketing campaigns outperformed banner ads roughly 6.5 to 10 times in terms of cost per visitor”, according to case studies.

 

The problem though with social media management is that it actually requires management. You need someone behind the wheel of your social media campaign, and tailoring content to your audience is a job in itself.

 

Instead of outsourcing the work, consider automated tools that really simplify the work, such as suggesting the best times to publish new content based on user activity, or feeding you trending topics and hashtags related to your business that you can use to your advantage.

 

If you’re able to pinpoint your demographics, such as millennials in booming job areas, you can have your paid ad campaigns enhanced by AI algorithms and automatically adjusted for your next round.

Client communication

Email is a top priority among agents, with studies showing that around 94% of real estate agents prefer email communication with customers over other methods.

 

Emails are a bit tedious to write though, when you have many potential clients, and some clients prefer communicating in real-time. You don’t have to ditch the digital snail mail, but there are ways automation can spruce it up for you.

 

Automation tools can be leveraged to create drip campaigns, sending only a certain number of emails over time. You can also automate newsletters to your mailing list base, such as automatically including updates on your hot property listings.

 

Finally, chat bots are a very convenient way of providing client leads with information they’re seeking, and are rather easy to set up on your agency website and social media page.

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Matthew Miller

Matt Miller is a partner and contributing editor at B2B News Network.