How Technology Will Open Doors in 2023

For agents who take full advantage of new developments in technology in 2023, it’s a chance for them to move ahead from their local competition.

My prediction is that we will see continued innovation in lead generation, as well as significant advancements in AI (Artificial Intelligence).  Sophisticated systems will be made to identify the best time to send emails, social media posts, or other forms of outreach, with predictive analytics and lead scoring, and machine learning algorithms which will get better at analysing data on potential clients.  Demographic information, property preferences and past buying or selling history will be used in an advanced way to identify those who are most likely to be interested in buying or selling their next property.

Of course, the personal service given by agents supporting the sales process will never be replaced by AI. From skilled negotiation, navigating surveys, chain management, to detailed local knowledge, professional, emotional interaction is imperative to being an estate agent.  However, there are now ways to work even smarter and I would suggest that technology – in some cases tech fuelled by AI –could play a vital role for agents who wish to stay ahead of the curve.

Market insights

One area where tech can really add value is when it comes to e-marketing. It’s crucial to choose a CRM which can easily enable you to export data in real time to whichever e-marketing system you’re using to communicate with your client database. For example, 70% of prospective buyers are also prospective sellers.  In this way, GDPR compliant data can be saved and used intelligently to generate leads.

Unlike in previous years, there is now an increasing number of CRM systems which can be integrated directly with your website and third-party e-marketing software which makes it easier to extract customer data directly. For example, one marketing list could be made up of first-time buyers, meaning you can target them with relevant advice. Or someone exploring buy-to-let opportunities could be pitched new investment opportunities alongside local market insights.  It’s important that estate agents think about the best strategies to interact with and nurture their leads, whether it’s by direct mail, e-marketing or social.  This makes opening doors much easier, and it becomes more likely that your agency is top of mind when members of your local audience wish to sell their homes.

The rise of social media adds a further element to the marketing mix.  Branch pages, google ads and social promotion are now part and parcel of everyday campaigns.  Careful targeting also offers further possibilities for instant, relevant promotion.

Staff training

To take advantage of any technology, staff training is essential.  Team members must move away from the ‘order taker’ mentality and be encouraged to see every enquiry as a rich source of data and a potential lead.  In such a competitive market, all leads must be treated like gold dust!  Giving free help, advice and support to prospects at this early enquiry stage will always be appreciated and remembered.  Therefore, always strive to give great advice and service whatever the circumstances, and always take down the search requirements of your buyers. This is where boutique agencies often do well, adding tech to streamline the follow-up process will see them forge ahead. 

I always say: success never comes easy.  To thrive in business takes a lot of time and effort and there is no such thing as an overnight success.  At Propertynest  we have spent considerable time developing our e-marketing strategy and lead generation engine in general, using the best tech on the market.  We love efficient processes and reducing admin to make lead generation as straight forward as possible.  The result is a slick combination of the most innovative software, training, and marketing tools, which means we can help our franchisees to be proactive when leads come in through proactive use of data, which supports them as they grow.  Franchised agents’ time is then free to spend with customers on an individual basis adding value, which means we can command a premium.

I would encourage any agent to assess the tech that is available as it has certainly moved on in recent times. 

For further information about the Propertynest franchise opportunity please see:

www.propertynestfranchise.co.uk

Vincent Anthony is Managing Director of Property Nest