Every segment of businesses around the world have extended their digital entities from websites to mobile applications. The real estate business is no exception.
Since a decade real estate agents moved from printing advertisement on a newspaper to getting themselves listed on a website.
As mobile applications started evolving, various real estate apps started to come up. Real estate websites got themselves mobile solutions for their business. These apps consisted of an option for agents to list their properties.
Why Are Mobile Apps Attracting Real Estate Agents?
Because of the success of apps in accelerating businesses, all the businesses are offering app solutions to their customers. Real estate agency is also coping with the trend by launching real estate apps into the market.
Apart from it being a trend, a mobile app offers multiple benefits to real estate agents:
Extended Market Reach
Mobile-based property/home search is on the rise.
58% of Millennials found their homes on a mobile device – National Association of Realtors
Hence, with a real estate mobile app, real estate agents can extend their market enormously and help buyers and sellers to connect and increase profits significantly.
Better Commission Sharing
Apps make your real estate listings more relevant to what users are looking for by adding MLS (Multiple Listing Services).
MLS – Brokers share information on properties they have listed and invite other brokers to cooperate in their sale in exchange for compensation if they produce the buyer.
the app provides expanded option for customers looking to buy the houses and helps agents to expand the scope of their earning points.
Seek Recommendations From Users
Real estate apps allow users to rate the agents based on their experience with them. These reviews from clients can help agents to get picked much often.
Increases Speed of Sales Process
Apps have instantly paced the speed of real estate sales process, this helps agents to close deals faster than on website and newspaper.
This will also enable real estate agents to more stability in the business as average time period between the deals they close is minimized.
Real Estate Apps, Threat to Real Estate Agents?
With all the technological developments in the real estate agency, customers are free to carry out all the processes related to buying home without the real estate agents.
It has been simplified by property buy, sell and rent apps like Trulia or Zillow.
However, there are contrary views about real estate agents significance today:
They (agents) can offer advice to a buyer or seller based on their market knowledge and experience, rather than emotion – Neville Pozzi, CEO, Real Estate Institute of Western Australia
Because of the real estate agents with tech backing their activities, buyers & sellers are now more aware than before about the whole buying & selling process and requirements.
Although there is a lot of information that customers can get on the real estate apps, they still need real person rather than an algorithm to proceed with the transaction.
Buying and selling a home is such a huge decision that people will still turn to a Realtor – Mike LePage, Broker, Portside
Addition of technology in the working of real estate agents has definitely fetched very good results. This expands the scope of real estate agencies to choose the app way of operation.
The industry is still developing and progressing. It also holds a huge deposit of opportunities to be tapped on.