In the UK, the estate agency sector is said to be worth an estimated 13.3bn in 2022. It’s not a secret at all that across the industry there have been enormous investments into Proptech, which is changing the way estate agencies work.
Here are some of our favourite technologies for estate agents:
Covid was a game changer for this side of estate agency, due to everyone needing to work remotely and digitally, the new software and technologies are in demand still. This includes; buying and selling sites, CRM systems, mobile apps, VR tours, smart homes, valuation estimation tools, marketing automation, drones and improved photography tools, AI and new ways of communicating.
Buying and selling websites
The internet is the first place many buyers and sellers will start their journey, and the main lead source for estate agents are their websites and social media. Since the pandemic, and the adaptions made within many industries, agents have had no choice but to implement online strategies. Most agents are on property portals such as Rightmove and Zoopla, but having a great website is crucial!
Every agent in 2023 uses a CRM, this is to make their lives easier when dealing with hundreds of clients and loads of properties. CRMs historically have been used by estate agents and property professionals to manage properties, collect and store client data, book viewings, log offers etc. In 2023, most CRM systems have undergone massive upgrades in functionality, including direct, sometimes automated communication via text or email, automated viewing/ valuation booking through a website login for clients, sales chasing, and even more.
CRMs such as Street.co.uk offer apps for your team, as well as for your clients. When used by estate agents, these apps can help with writing up listings, and booking appointments, some even have integrations with maps for you to be able to find your appointments. For clients, these apps allow them to communicate with you and your team quickly, book valuations and viewings, approve listings, create shortlists of properties, and even make offers.
High-quality photos, floorplans, and a showcase video filmed on a junior negotiator’s phone just do not cut it anymore. In 2023, 360-degree virtual tours are almost expected to be included within property listings. Virtual walkthroughs and tours give a much better sense of room dimensions and potential than a brochure with flat images and can help buyers narrow down properties without visiting, saving you time on viewings.
Companies like ValPal and Street.co.uk are creating AI software for estate agents to create particulars and emails quickly using prompts. By using AI in estate agencies, 100’s of admin hours can be saved, meaning that agency staff can do what they do best, selling properties and helping clients.
Changing communication styles
As technology advances, the ways people are communicate with their estate agents are changing. Almost 40% of people looking to buy a house to refurbish for themselves in 2022, were between 18 and 34. In terms of communication, 65% of 18–34-year-olds now communicate more digitally than in real life, which is why estate agents need to adapt their strategies, catering to their audiences who prefer text or email communication as opposed to phone calls, or letters.