The real estate industry has grown to be amongst the most profitable sectors in the American and global economies. According to the National Association of REALTORS, over 5.3 million houses were sold in 2019. In 2020, the homes sold were less, but the number was great considering the effects of COVID-19. The following are four ways in which Bethesda real estate agents and other agents across the world used technology to adapt to today’s market and why it worked.
Real estate agents spend more time in the field talking to clients than at a desk doing paperwork. Technology has helped them create their field online and interact with clients without meeting them in person.
Agents and clients could conduct business while adhering to the ministry of health’s rules and regulations of social distancing. Besides, it made work easier, faster, and cost-effective for agents since they do not have to travel to meet their clients.
2.Bethesda Real Estate Agents Found New Marketing Platforms
In the physical world, it can be hard to identify a place where you can get a large number of your target market. But, social media has simplified that for you. Platforms like Snapchat and TikTok that were developed for fun have proved to be useful tools for marketing campaigns. According to the National Association of REALTORS, about 93 percent of realtors use email communication instead of instant messaging.
Social media platforms have been busy than ever lately due to people being in quarantine. Every day, millions of people spend half of their day online looking for content to either entertain or educate them.
3.Creating Personalized Ads
Technology has enabled agents to know specifically what clients want. They use this information to create personalized ads targeting specific clients. A study by the National Association of REALTORS shows that realtors who are below 50 years have blogs for their real estate content and ads. This method has proved easier than the traditional door-to-door method of looking for clients. Using personalized ads is cost-effective. Real estate agents could use digital ads to penetrate areas that were restricted to them before like in high-end gated communities.
4.Technology Helped Agents Understand Property Data
Technology aids the storage of a large mass of data on property ownership that can be accessed freely by people. Information such as the market value of homes, population data in different areas, employment statistics, appraisal administration, and much more. Agents have used this information to curve their marketing practices like creating digital ads and content to target a specific audience. It provides unlimited information to agents and keeps them updated on market trends. Agents can also use past data to predict the future to prepare themselves for changes they are bound to face.
Marketing is essential in the real estate industry. Technology has provided Bethesda real estate agents with numerous ways to market the property. If you are seeking to rent, buy or sell property in Bethesda, Mount Vernon, Friendship Heights, and Cathedral Heights, contact The DC Team at Long & Foster, Inc. on (301) 215-6855. We use the latest marketing tools to give you the best real estate experience.