Once upon a time, real estate listings were how you found out if a property was available for sale. Today, real estate listings are still the starting point for communicating about properties but there’s a lot more to them than just text describing location, terrain characteristics, and ways to view a property.
New technologies are being hailed as the new disruptors in real estate. They’re also being considered a potential cure for real estate agents who have to deal with piles of paperwork, and a fresh opportunity for investors looking for high-yield assets. PropTech, short for property technology, refers to the many tech companies that have entered the real estate industry. PropTech aims to make it easier for everyone—owners, landlords, and tenants—to manage their assets by reducing paperwork or streamlining transactions.
It has become a powerful business enabler by providing real estate companies with cost-effective and intuitive ways to communicate with customers and build their brands. As we approach 2023, here’s how real estate tech—aka proptech—is changing land listings.
Using Proptech to Present The Features and Benefits of Acreage.
Land brokers have to list and market large land tracts differently than they do single-family homes. In particular, they have to communicate the unique features of the property in a way that will attract potential buyers, such as a stocked pond or areas with good hunting. Proptech can help brokers showcase these features by using geospatial location intelligence.
It’s all about powerful branding.
Proptech is here to help you take your business to the next level. By promoting lead generation, social media automation, and marketing campaigns you will be able to efficiently grow your business and keep more of your commission. A saying states that a potential customer must see a marketing piece 10 times before taking action. Automation can help with this task of repetition, making it easier for companies to brand themselves as professionals. An example is using chatbots for automated replies and messaging.
Client relationship management made easy.
Proptech can enable agents to better manage leads, clients and prospects by providing them with tools that make it possible to communicate with customers 24 hours a day. It also allows buyers to contact sellers directly through the platform, making it easier for both parties to get in touch with one another.
Interactive property details are a unique experience tailored to each user.
The advancement of virtual reality (VR), augmented reality (AR), and now the metaverse are all steps along the journey toward extending interactive data to land listings. Likewise, proptech is being swept along the path of progress toward extending interactive data to land listings.
Real estate professionals can use predictive analytics to determine land development feasibility, likely returns on investment based on specific demographics and property value makeup, and future building performance measurements and total cost of ownership.
Innovations like proptech can improve the stability and success of the real estate industry in a post-COVID world as it makes it easier for realtors to engage with their customers and provide richer data to help users make better decisions when looking for a place to live or buy. With the advent of smart contracts, it may soon be possible to purchase a home directly from a listing through just one click.
FairLead agents have access to the latest in proptech via our partnership with 3D, which offers virtual staging, done footage, branded collateral, websites and more.
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