Today’s housing market is more competitive than ever. Brokers need to know about this must have tech for real estate.
It’s no secret that the real estate business is facing some challenges. It’s a post-pandemic world where housing prices are up yet inventory is down. Rental rates are down, yet people are leaving cities in droves. Even the commercial real estate market is changing. It can be tough for a broker, especially one new to the business, to find a way to get ahead of competitors and find their own niche.
Why not make technology do the work for you? Read on to learn a few new ways that successful brokers leverage tech and the must-have tech for real estate.
Find Properties Before They List
With low inventory nationwide, you might have trouble finding new properties to sell in your area. Instead of scrambling to find properties before your competition snaps them up, start looking at properties that haven’t even hit the market yet.
How can you do this?
Artificial intelligence is a buzzword in modern business technology and a piece of must-have tech for real estate. Brokers can leverage machine learning algorithms to gather data, analyze it, and make predictions. It saves time for the broker, cuts down on human error, and lets you focus on closing the deal. Keep in mind that most sellers will work with the first broker they see, as it makes the selling process simpler. By making the first contact, you put your foot in the door and give yourself a strong chance to make a new sale.
A good algorithm will look at local sales trends and demographic data, giving you accurate predictions without you having to lift a finger.
Reach The Person Behind The Property
Once you’ve found the perfect property, it’s time to make your pitch to the owner. But a busy broker can’t afford to dig through public records in hopes of finding scraps of contact information. Must-have tech for real estate includes a place for easy access to all this data to make your pitching efforts a breeze. The best real estate tech will also help you find the owner of an LLC should one hold the property you want to sell.
So you have a name, phone number, email address, and physical address. Now what? You’ll want to streamline your communications, too. Have a stack of templates ready for emails, postcards, and letters. These should look professional, yet still unique to you and specific to the prospect’s needs.
You could also set up your own social media ad campaign. With the ever-present nature of the internet in our lives, must-have tech for real estate includes a plan to leverage social media to your business’s advantage. Want to make this a reality for your brokerage? Read on.
Make Better Offers With Better Valuation Data
There will be times when valuating a property is more of an art than a science. You do have several different valuation methods at your disposal. But how effective each one depends on factors such as the property’s location, intended purpose, improvements, comparable properties, and so on. It requires a lot of data you may not have or time that you could spend better elsewhere in your brokerage.
Learn to leverage some of the newest must-have tech for real estate and you can outsource this task. Tools are out there to gather local property data and calculate a more accurate valuation. Automating this task doesn’t just free you up to make more pitches and close more deals. It also gives you more reliable data to work with, while also eliminating human error from your calculations.
ProspectNow is a substantial real estate database combined with a feature-rich customer relationship management (CRM) system. It is the ultimate must-have tech for real estate brokers, agents, investors, and anyone else who relies on real estate data. Operating since 2008, ProspectNow has a number of features to propel your business into this century and beyond:
- Comprehensive nationwide property database of properties, residential and commercial, across the country by county.
- “Likely seller” algorithm that analyzes and predicts properties that are likely to sell in the next twelve months. Jump on pre-market properties before your competition.
- All of a property owner’s contact information, gathered in one place. No more wasting time searching through county records.
- Instantly identify the owner of an LLC. Find a human’s name to put on your contact list, and keep your communications out of a mailroom.
- Email, postcard, and letter templates. Send professional messages to prospects with one click and cut down your pitching time.
- Set up direct ad campaigns through the platform.
ProspectNow offers all of this data at a lower price than other platforms. Some of these features are also unique to ProspectNow, and you won’t find them anywhere else. This reliable, easy-to-access data and intuitive features make ProspectNow an essential tool for business success in real estate or real estate marketing.
To get an idea of how much more profitable your brokerage can be with ProspectNow, there is an ROI calculator available on the website. Simply put in your location data and recent sales metrics, and it will tell you your estimated turnover and commissions had you used ProspectNow to close your deals. It will even tell you how many “likely sellers” its algorithm spots in your area right now, as well as a list of likely sellers it correctly predicted in the past.
Are you ready to close more deals and make more money? ProspectNow offers a three-day free trial with no obligation. Sign up today and see what new real estate technology can do for you and your brokerage.