Thursday, January 10, 2019

5 Ways Technology Can Change Your Real Estate Business for the Better

With technology increasingly becoming a catalyst for change in all spheres of industry and business, the real estate market has not been immune.

Technology and real estate are not phrases that often appear in the same sentence together, but the advance in technology has seen it infiltrate the lives of all industry stakeholders – real estate agents, home sellers, and homebuyers.

And it’s all for the better.

While the impact of tech on real estate has not been as disruptive as it has been on any of the other major industries, it has been every bit as powerful. This is thanks to the unique nature of this sector.

 You see, in this industry, most of the important decisions are still done by people – not technology. And this is something that is not likely to change.

Good thing is, the impact of technology on real estate has been less about disruption and more about enabling.

As a real estate investor, the challenge in today’s competitive market means that you need to use every weapon available at your disposal to build your business. One of the best ways to do this is by using new technology that is available to every investor.

The following are some of the obvious ways real estate investors can leverage technology to boost their business. Full Article

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1. Property Searches

The internet has leveled the playing field when it comes to searching for property value. In days gone by, it took an expert to establish where and when new properties would become available, not to mention figuring out what the comparable home sales in that particular area might be.

2. Lead Management

If you prefer it old school, certainly, you can use a notebook or Post-It notes to keep track of your leads. But if you prefer to leverage tech to grow your business, stay on top of hot prospects and probably add some few team members down the line, then a CRM will come in handy.

3. Direct Mail Campaigns

If your marketing strategy includes direct mail, it is advisable to make use of a reliable list provider such as Listsource, and upload the list to a mailing service.

4. Buyer List Management

Wholesalers cannot flip contracts without investors. But it can be dispiriting to go in search of new cash buyers every time you have a new property under contract.

5. Improving Tenant Relationships and Proper Asset Management

Technology can also help real estate investors enhance the experience of their tenants from the onset.

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