The 2021 RealTrends Gathering of Eagles real estate conference captured our attention when the role and future of the real estate transaction process for a homebuyer were lively debated.
Big players such as Zillow, Redfin, Compass… etc. claim dominance. We examine the need for complete vendor-provided software solutions vs. building in-house. We watch as consolidation transpires all-around. While addressing all of these issues is important, should we not have more stories and conversations about how brokerages can capture the most important stakeholder of all? The homebuyer.
Let’s dive into two areas that technology partners and independent brokerages can align to ensure that demand is captured and more at-bats are won.
Younger Generations Don’t Know the Process
There are those on record claiming that brokerages would no longer exist – which can’t be further from the truth. Despite all the talk about tech and disruption, agents continue to play a large role in the buying process. Statistics show that anywhere from 88–90% of home buyers with an agent and use that agent as their go-to source for information.
However, the majority of home searches begin online. Plus, homebuyers are savvy, like really savvy. So while big players might be top of mind there is an opportunity for indie brokerages to capitalize. Why? According to the National Association of Realtors 2021 Home Buyers & Sellers Generational Trends Report, 84% of buyers 30 years and younger cite “helped buyer understand the process” as the most important benefit provided by real estate agents during the home purchase process.
In an age of abundant information, the broker can win. It behooves every brokerage to focus on demonstrating their expertise in the ever-confusing process of buying and selling real estate more than just being “the place” to browse the latest listings.
A beautifully designed website can be an amazing tool to drive demand and capture those all-important leads. But in a changing digital landscape driven mainly by privacy updates and homebuyer sentiment, a website that goes beyond a property search bar to illustrate a brokerage’s mission, community expertise, etc. will go a long way in attracting more clients and building trust.
Adept at sending the occasional market insights report? Try sharing advice on the hottest restaurant/bar tips, neighborhood updates, the area’s lifestyle, service vendors (think children activity centers, schools, garden centers, etc.). Provide compelling, unique reasons to work with you.
Integrating your website with a real estate CRM allows agents to immediately leverage the data collected to send these personalized marketing messages and updates about their client’s specific needs.
More Often Than Not Transparency & Speed Win
As the customer journey changes so must you. At Propertybase, we hear from clients and prospects concerned about how they can be more transparent with clients and process transactions more effectively. Why? When it comes to appealing to homebuyers, trust and speed win.
The capacity to handle fully compliant real estate transactions faster is a foundation for brokerage success. Software such as Propertybase Back Office, offering compliance-driven transaction management, is designed to do exactly this. The ability for an agent to share important due diligence dates, documents and send for eSignature with a click of a button satisfies that buyer’s hunger for more.
Homebuyers are satisfied by being more involved. An agent’s professionalism and trust factor skyrockets. Plus, when transactions happen in less time, more time can be turned to attracting more clients. The combination is the perfect outcome of a brokerage capitalizing on the available software.
So, as we enter the second half of 2021 let us all contemplate whether the abundance of conversations happening in real estate, even those with a hint of Zeitgeist, may take away from listening to the needs of the homebuyer and forming better ideas to capture their attention and win their business. Propertybase is here to help. For more information visit www.propertybase.com.