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The benefits of technology in real estate
The real estate industry is one of the oldest, most established industries in the world. It's also one of the most important and profitable sectors for any country's economy. Real estate agents help facilitate transactions between buyers and sellers, providing an essential service that keeps our economy moving forward.
One thing to note about real estate agents is that they have traditionally been known as "brokers," not "agents." A broker works on behalf of clients who want to buy or sell property; they represent their clients' interests in these transactions by finding suitable homes or land parcels that match their needs, negotiating prices with sellers and buyers and then closing deals once everything has been agreed upon by both parties involved. These agents are now facing a digital revolution where leveraging the technology they have available has become a key part of their profession.
The benefits of technology in real estate are numerous. There are many reasons why real estate agencies should be using technological tools to improve their business, the main one being increased efficiency. With a streamlined process and less manual work, you'll be able to spend more time focusing on the things that matter most to your clients and customers. In 2022 for example, our champion hosted 553 guided virtual tours which lead him to save 18.5 days of work.
Real estate technology trends
Virtual Tours
Virtual tours are becoming more and more popular among real estate agents. They give the potential buyer the ability to envision themselves in a property all the while allowing agents to quickly measure interest and focus on the hottest opportunities.
With virtual tours agents not only boost their reach but also save time, for example in 2022 virtual tours among our agents represented 623,018.6 km of distance saved!
Some real estate technology solutions have also introduced guided virtual tours where you are in control of your fully customizable tourwith property details, location, floor plans, videos and pictures. Guided virtual tours can help you build a relationship with future buyers and show more properties in less time. Nodalview is one of these solution, with our easy-to-use platform and smartphone application you can shoot 360° content and build customizable virtual tours that are easily accessible on your property portals.
![](https://nodalview-prod.imgix.net/assets/default/nodalview_remote_viewings_more_2023-03-23-143410_xaqw.png?auto=format&crop=focalpoint&domain=nodalview-prod.imgix.net&fit=crop&fp-x=0.5&fp-y=0.5&h=914&ixlib=php-3.3.1&q=45&usm=20&w=1280&s=0ea1f4574866bd5001be7cf41fbda08f 1280w, https://nodalview-prod.imgix.net/assets/default/nodalview_remote_viewings_more_2023-03-23-143410_xaqw.png?auto=format&crop=focalpoint&domain=nodalview-prod.imgix.net&fit=crop&fp-x=0.5&fp-y=0.5&h=731&ixlib=php-3.3.1&q=82&usm=20&w=1024&s=1390ac070c7a1b03b173e2c0b23222ff 1024w, https://nodalview-prod.imgix.net/assets/default/nodalview_remote_viewings_more_2023-03-23-143410_xaqw.png?auto=format&crop=focalpoint&domain=nodalview-prod.imgix.net&fit=crop&fp-x=0.5&fp-y=0.5&h=548&ixlib=php-3.3.1&q=60&usm=20&w=768&s=94da298cadad0d5b73c6c5be61ef79e6 768w, https://nodalview-prod.imgix.net/assets/default/nodalview_remote_viewings_more_2023-03-23-143410_xaqw.png?auto=format&crop=focalpoint&domain=nodalview-prod.imgix.net&fit=crop&fp-x=0.5&fp-y=0.5&h=457&ixlib=php-3.3.1&q=60&w=640&s=bbaeb52e1fd36cae8c9560ae1f9ffca6 640w, https://nodalview-prod.imgix.net/assets/default/nodalview_remote_viewings_more_2023-03-23-143410_xaqw.png?auto=format&crop=focalpoint&domain=nodalview-prod.imgix.net&fit=crop&fp-x=0.5&fp-y=0.5&h=405&ixlib=php-3.3.1&q=60&w=568&s=76f15f944884b82d8a659ade1003ae06 568w, https://nodalview-prod.imgix.net/assets/default/nodalview_remote_viewings_more_2023-03-23-143410_xaqw.png?auto=format&crop=focalpoint&domain=nodalview-prod.imgix.net&fit=crop&fp-x=0.5&fp-y=0.5&h=811&ixlib=php-3.3.1&q=45&usm=20&w=1136&s=4a3db0b46f77c2b044170db2780189b3 1136w, https://nodalview-prod.imgix.net/assets/default/nodalview_remote_viewings_more_2023-03-23-143410_xaqw.png?auto=format&crop=focalpoint&domain=nodalview-prod.imgix.net&fit=crop&fp-x=0.5&fp-y=0.5&h=267&ixlib=php-3.3.1&q=60&w=375&s=d41cbed225d66f184e8001de3eecd574 375w, https://nodalview-prod.imgix.net/assets/default/nodalview_remote_viewings_more_2023-03-23-143410_xaqw.png?auto=format&crop=focalpoint&domain=nodalview-prod.imgix.net&fit=crop&fp-x=0.5&fp-y=0.5&h=535&ixlib=php-3.3.1&q=45&usm=20&w=750&s=fbd1ee5bfdc59815055649d906ac7059 750w)
Real estate technology solutions
Real estate technology solutions are the key to transforming your business. The real estate industry is in a state of flux, with technological advances changing how we do business and interact with each other. Efficient Collaboration and solutions that enable teams to work together are nowadays more important than anything else.
Always be ready to shoot with Nodalview’s smartphone application - wherever and whenever you want. Full autonomy for you and your team without being limited by expensive and shared photography gear or long synch times.
In response to this evolution, there are several types of real estate technology that can be implemented to improve productivity and efficiency:
- Marketing and advertising solutions:
These solutions help agents reach more potential buyers by leveraging online marketing tools like social media, search engine optimization (SEO) strategies, video creation and editing software. Modern solutions allow you to schedule and automatically publish your posts to all your channels at once all the while tracking and measuring engagement to ensure maximum visibility.
- Video Technology:
With the current video technology, it is now possible to create unique professional property videos in minutes by leveraging multiple types of content. Record sequences directly from your phone, select any visual from your property gallery, or import external media. Drag and drop clips to build the perfect result, on the go or from the office, on your mobile or from your desktop, here wherever and whenever you need.
- Smart links:
With Smart Links, Measure and track all the activity on your property listing in one single place, differentiate viewers from interested candidates to take informed decisions based on data and invest your energy in the right opportunities.
The impact of technology on real estate agents
The impact of technology on real estate agents is a mixed bag. On one hand, it's created new opportunities for them. New technological developments have drastically increased the online visibility of agents, virtual visits published online by Nodalview users have received more than 49 million views, which represent a staggering average of 300 viewings per virtual visits. However on the other hand, it's increased competition and made customer service a challenge.
Technology has made it easier for anyone with an internet connection to sell their houses and even become real estate agents without proper training. Modern solutions are encouraging this trend by giving access to professional photography with only a smartphone but also video editing and even real estate social media editor platforms. However this also means that there are more agents out there than ever before, and as such, competition is fierce. In order for you as an agent or broker to succeed in today's market you have to face real estate technology challenges.
Real estate technology challenges
One of the challenges is adapting to new technology. When you're working with an industry that hasn't changed much in decades, it's difficult to keep up with the pace of innovation and the trends that come with it. However it can also be seen as an opportunity, a lot of this new technology is currently being under-exploited. Through these innovations, agents can now have access to high quality photos, videos and virtual tours, however we see a disparity between their demand and usage in published listings. Professional photos appear in 35% of properties for sale, videos have a current usage rate of 0.5%, and virtual tours are only used in 13% of ads in France for example, same goes for floor plans at only 9% in France.
COMPARISON BETWEEN DEMAND AND USAGE OF THE DIFFERENT CHARACTERISTICS
![](https://nodalview-prod.imgix.net/assets/default/Article-graph1.png?auto=format&crop=focalpoint&domain=nodalview-prod.imgix.net&fit=crop&fp-x=0.5&fp-y=0.5&h=640&ixlib=php-3.3.1&q=45&w=1280&s=44466961935d38368315c17a4ee878e2 1280w, https://nodalview-prod.imgix.net/assets/default/Article-graph1.png?auto=format&crop=focalpoint&domain=nodalview-prod.imgix.net&fit=crop&fp-x=0.5&fp-y=0.5&h=1280&ixlib=php-3.3.1&q=61&w=2560&s=0c93ba0b3244eeda299899ba56b99c83 2560w, https://nodalview-prod.imgix.net/assets/default/Article-graph1.png?auto=format&crop=focalpoint&domain=nodalview-prod.imgix.net&fit=crop&fp-x=0.5&fp-y=0.5&h=512&ixlib=php-3.3.1&q=82&w=1024&s=2e6761a868951668566fa0c340035539 1024w, https://nodalview-prod.imgix.net/assets/default/Article-graph1.png?auto=format&crop=focalpoint&domain=nodalview-prod.imgix.net&fit=crop&fp-x=0.5&fp-y=0.5&h=1024&ixlib=php-3.3.1&q=61&w=2048&s=f86f171d1d271587af10dc98c416c33d 2048w, https://nodalview-prod.imgix.net/assets/default/Article-graph1.png?auto=format&crop=focalpoint&domain=nodalview-prod.imgix.net&fit=crop&fp-x=0.5&fp-y=0.5&h=384&ixlib=php-3.3.1&q=60&w=768&s=797c7ca3c16871ce1e6002a3bd2a01f9 768w, https://nodalview-prod.imgix.net/assets/default/Article-graph1.png?auto=format&crop=focalpoint&domain=nodalview-prod.imgix.net&fit=crop&fp-x=0.5&fp-y=0.5&h=768&ixlib=php-3.3.1&q=45&w=1536&s=9c76845db9ea6bbd53561e0bed7edb3a 1536w, https://nodalview-prod.imgix.net/assets/default/Article-graph1.png?auto=format&crop=focalpoint&domain=nodalview-prod.imgix.net&fit=crop&fp-x=0.5&fp-y=0.5&h=320&ixlib=php-3.3.1&q=60&w=640&s=00551e8b42c67c13425257e624dcf849 640w, https://nodalview-prod.imgix.net/assets/default/Article-graph1.png?auto=format&crop=focalpoint&domain=nodalview-prod.imgix.net&fit=crop&fp-x=0.5&fp-y=0.5&h=284&ixlib=php-3.3.1&q=60&w=568&s=3026346338fcc5be150525bb6c0d6a46 568w, https://nodalview-prod.imgix.net/assets/default/Article-graph1.png?auto=format&crop=focalpoint&domain=nodalview-prod.imgix.net&fit=crop&fp-x=0.5&fp-y=0.5&h=568&ixlib=php-3.3.1&q=45&w=1136&s=a32a6510676321f5922c8bf847d8c6db 1136w, https://nodalview-prod.imgix.net/assets/default/Article-graph1.png?auto=format&crop=focalpoint&domain=nodalview-prod.imgix.net&fit=crop&fp-x=0.5&fp-y=0.5&h=187&ixlib=php-3.3.1&q=60&w=375&s=c824b616cadfbb79237f627c15e68dd4 375w, https://nodalview-prod.imgix.net/assets/default/Article-graph1.png?auto=format&crop=focalpoint&domain=nodalview-prod.imgix.net&fit=crop&fp-x=0.5&fp-y=0.5&h=375&ixlib=php-3.3.1&q=45&w=750&s=b1556223fb65bc47f3feacf42994659a 750w)
Another challenge in real estate technology other than adapting to innovation is its cost. Real estate agents and companies need access to capital in order to grow their businesses--but banks aren't always willing or able to provide loans at reasonable rates.
In other words, facing these challenges is not easy, but it would allow agents to differentiate themselves from their competition and be at the cutting edge of real estate technology.
The future of real estate technology
The future of real estate technology is bright, and it's going to be a great time for real estate agents. As technology continues to improve, there will be more opportunities for you as an agent. Here are some things that you can expect:
- Improved customer experience:
Your clients will get better service thanks both directly from your own efforts as well as indirectly through improvements made by other companies working on similar products and services within their industries. Real estate videos are becoming easier to produce and edit and are therefore more common, professional photographs are now available with your own smartphone with Nodalview’s Smart Fusion ! Virtual tours and floor plans are also a great example of the increase in formats available to sell a property which makes it easier for potential buyers to envision themselves in their future home.
- Greater automation:
As artificial intelligence (AI) becomes more advanced, some tasks like data entry or scheduling appointments will become automated. However you will still need a human touch when dealing with clients who have special needs or if something goes wrong with the system--but overall your job will become easier!
The real estate industry is changing, and it's changing fast. Technology has had a huge impact on how we buy and sell homes, as well as how we live in them. It is now up to the real estate agent to leverage the technology to adapt to these changes.
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To sum up
WHAT ARE THE NEW REAL ESTATE TECHNOLOGY SOLUTIONS THAT YOU CAN LEVERAGE TO BECOME MORE EFFICIENT ?
- Marketing and advertising solutions: Reach more potential buyers by leveraging online marketing tools like social media, search engine optimization (SEO) strategies, video creation and editing software.
- Video Technology: Create unique professional property videos in minutes by leveraging multiple types of content.
- Smart links: Measure and track all the activity on your property listing in one single place, differentiate viewers from interested candidates to take informed decisions based on data and invest your energy in the right opportunities
WHAT WILL THE FUTURE OF REAL ESTATE TECHNOLOGY LOOK LIKE ?
- Improved customer experience: Your clients will get better service thanks both directly from your own efforts as well as indirectly through improvements made by other companies working on similar products and services within their industries
- Greater automation: As artificial intelligence (AI) becomes more advanced, some tasks like data entry or scheduling appointments will become automated. You will still need a human touch but overall your job will become easier!
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