HOW HAS THE ON-DEMAND ECONOMY IMPACTED REAL ESTATE?
Clients want real estate on-demand
other
Everyone wants everything. Right now.
For centuries, thinkers and philosophers have dreamed of a world where if you could think of something, you could have it—instantly. But now, that’s more than just a vision. Millions around the world simply can’t imagine any other way to live.
And thanks to smartphones, they can get it.
With more than 207 million smartphones in the U.S. today, 2 out of 3 people use one. They love the fast, satisfying technology. But even more than that, they love the promise: Getting what you want, with a few touches. Today, not tomorrow.
A successful business is an accelerated business.
Spotify, Netflix, Amazon Go, Uber and the entire mobile banking industry have all built their reputations on instant gratification. And now, real estate is joining the party, too—if you’re ready.
19% of clients expect a response within 10 minutes more than 78% of clients expect a response within an hour
Be there for them. Or they’ll find someone who is.
76 percent of real estate agents said clients expect a faster response today than they did five years ago. But a simple filing cabinet or hard drive search can delay your response long enough to make clients nervous. That’s why it’s best to anticipate which forms you’ll need, storing them in the cloud for easy access later. Templates are another good idea— they cut down on contract prep time.
Texting is everything.
Five years ago, most real estate business was still done via plain old voice phone. Now, although email use has gone up a tad, texting has skyrocketed. That means either you’re available to do business and close deals on your smartphone… Or you’re not available. Period.
Since you’re texting anyway…
With most clients already doing business on their smartphones, and in turn requiring you to be on yours, why not take advantage of all its powers? You can do a lot more than just text.
Welcome to your new realty office: Your smartphone.
Receiving client notifications in real time? Drafting and sending offer letters from an open house, on site right after a showing? Speed up the buying and selling process, by using new apps to do business instead of just talking about it. Your phone does it all without missing a beat.
Your next “close” is in your hands.
Real estate apps and other technology are advancing fast. So if there’s something you can’t do on mobile now, wait a few weeks. Chances are, time is on your side. We’ve met plenty of successful agents who don’t even have a physical office or desk anymore!
Technology is making clients smarter.
More than 86 percent of the clients in our survey took the initiative to educate themselves on the home market using Zillow. 70 percent used Realtor.com, 53 percent used Trulia, nearly 29 percent used Redfin, and 21 percent used Homes.com.
It’s making them tougher, too.
Compared to clients of five years ago, today’s smartphone- wielding buyers are nearly 72 percent more likely to have a specific listing in mind when they engage you, 51 percent more likely to have already calculated the listing price, 39 percent more likely to be aware of neighborhood comparables, and a full 48 percent more likely to know how the home-buying process works in general.
39% of clients more likely aware of neighborhood comparables
It’s time to keep up.
Look at it this way: If clients have access to the fastest and most sophisticated real estate buying and selling tools in history, shouldn’t you? After all, you’re a professional who does this for a living. At the very least, you want to hold up your end of the conversation. The goal: Conducting all the basics of your business, even while you’re away from your desk.