Published on December 30th, 2017 | by Sunit Nandi0
Larry Weltman, Others on Top 7 Real Estate Trends to Watch in 2018
The explosion of technological business applications has not missed the real estate market. Each year, software and technology advancements dramatically alter the landscape of what used to be a fairly traditional market. Times have changed at an astronomical rate for real estate industry, and as Larry Weltman, who works with realtors through AccessEasyFunds, a real estate commission advance company, notes, “Realtors who want to keep up with the trends will really need to do their homework in 2018.”
To get you started, here are the top 7 real estate marketing trends to watch for in 2018.
#1 – Chatbots as a resource. Chatbots, such as Apple’s Siri or Amazon’s Echo, can be the first contact with potential buyers, pairing them with realtors in their area. Savvy realtors who use this resource can snag prospects out of the gate.
“By automating the initial stages of contact between agents and prospects, a real estate chatbot can be more efficient in engaging visitors, resulting in higher lead conversions,” explains Ashkan Zandieh in Forbes.
#2 – Instant response to inquiries. Using texting, hired support services or artificial intelligence, realtors in 2018 must find ways to respond immediately to potential buyers. To run a successful business, they can’t take a day or even a handful of hours to respond. Buyers expect full access to the realtor of their choice. “Our team has a three minute average response time to online inquiries coming from major real estate portals. It is no longer good enough to send out an autoresponder text or email, these are live and intelligent responses,” said Stephen FitzMaurice, Real Estate Team.
#3 – Professional photography. As our society becomes increasingly dependent upon high-tech visuals, the smart realtor will need to become very efficient very quickly in this arena. “Buyers want to see a full 360° scope of each room along with professional shots of the outside and 3D of the property,” Larry Weltman notes. “Video marketing is key. It’s time to look for a photographer who owns a great camera and a drone who can effortlessly compile the marketing materials you need,” Larry Weltman continues.
#4 – Social media sells. By far the biggest domination of the real estate market has been using social media to move properties. According to NAR 2017, 95% of buyers will search for their new home online. This means those posts of home listings on Facebook really do pan out. Realtors who spend money on social media posts and boosting can expect to see an increase in leads as a result. Rahul Alim of Custom Creatives said, “With all of the tools available to link up and post to all of your social media accounts it is easier than ever to connect with customers. This has become a game changing time saver for both real estate professionals and consumers.”
#5 – Sneak peaks drive interest. In one of the more recent developments, Zillow has started allowing “Coming Soon” postings. With this option, realtors can hook searchers to start watching for a house before it becomes available. As other MLS (multiple listing service) groups open up this feature, more interest will be generated. “These ‘coming soon’ posts are going to bring a lot of heat very quickly,” Weltman adds. “It’s going to be an amazing tool for real estate agents.”
#6 – MLS boosting is a best-kept secret. While realtors are all familiar with Zillow, Trulia, Redfin, Homesnap, Realtor.com, Homes.com and Neighborhood Scout, not everyone knows that agents can pay for their houses to be promoted. This built-in boosting feature puts the house at the forefront of searches which results in more views from a greater audience and, potentially, more offers on the house.
#7 – Analytics bring things together. As Blockchain and other software systems become more standard in real estate, data can be easily accumulated, analyzed and acted upon in a short amount of time.
Staying on top of the trends in technology and becoming fast with a smartphone will help realtors get started capitalizing on the rapid advancements in real estate marketing for the coming year. This could mean the difference between landing a buyer and missing the momentum driven by the internet.