6 Cutting-Edge Tools for Real Estate Professionals

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For years, the real estate industry has long developed a reputation for itself as one that leans heavily on innovation. Forward-thinking professionals have been at the forefront of every major tech trend of the last decade, from interactive online listings to full 360-degree property tours and more. Forward-thinking individuals regularly utilize cutting-edge tools to enhance not only their own efficiency every day but the quality of the service they’re able to offer to clients as well.

All told, real estate professionals are making waves via a number of fascinating tools, all of which are more than worth a closer look.

Immersive Technologies Create Better Experiences

One of the more fascinating ways that real estate professionals are using cutting-edge tools has less to do with the tools themselves and more to do with the experiences they help create.

Virtual and augmented reality tools, for example, allow for 360-degree virtual tours from virtually any location on the planet. Suddenly, prospective buyers aren’t limited to only homes in their specific geographic area. They can tour homes anywhere, all by way of a technique that also saves real estate professionals time on physical showings.

The same concept is true of a lot of the drone photography and videography techniques that are currently being used. Even a consumer-level drone can take some truly stunning aerial views of a property – particularly large ones. Certainly, this type of footage can offer a unique point of view that a traditional camera cannot. If a property is located on a particularly stunning plot of land with incredible surroundings, a single photo might not be enough to show it off. You might need a drone for that.

AI and Data Analytics Unlock a Wealth of Unbeatable Insight

Whether you’re talking about traditional real estate transactions or a wholesale real estate situation, success in this industry depends on your ability to make the right decision at exactly the right time. For that, you need not just a constant stream of information but data you can trust.

That’s another example of the cutting-edge tools that real estate professionals are using: predictive analytics, which can generate the types of market insights that would have been missed just a few years ago. These tools can analyze massive volumes of data to offer insight into market trends, property valuations, and even buyer profiles. Suddenly, it becomes easier than ever for professionals to make the data-driven decisions they need at the moment.

Automated lead generation and qualification tools are an extension of this idea. Rather than forcing real estate professionals to handle all this manually, the tools do it for them. In addition to generating a higher volume of leads, this also helps to make sure that those who are ready to take the next step can’t help but rise to the top.

This is often accomplished by way of AI-powered chatbots and other lead nurturing tools. They can handle those initial questions that someone might have, can qualify leads, and can even schedule appointments. This frees up the invaluable time of agents to focus on what really matters, namely, closing on as many successful deals as humanly possible.

PropTech Platforms, Mobile Apps, and Beyond

Short for “property technology,” PropTech platforms are those that cater specifically to real estate professionals. Gone are the days when a piece of software attempted to be a “Jack of All Trades” in that it pretty much did it all, at which point you would then need to adapt your own way of working to compensate for its limitations. Today, the software does just a few things incredibly well, often with a niche focus like real estate.

Take cloud-based CRM (customer relationship management) platforms, for example. These are tools built to streamline communication, help real estate professionals manage various tasks on their daily schedule, and more. By acting as an opportunity to both create and share data, these types of platforms can be incredibly helpful to real estate deals from start to finish.

The collaboration tools built into these platforms often help facilitate communication—be it among real estate professionals or between a pro and their client. They’re intended to help keep everyone involved informed about what has been accomplished and what still needs to be done, which is invaluable in itself.

Last but not least, we arrive at the concept of digital document management tools, of which e-signatures (electronic signatures) are a primary example.

Anyone who has ever purchased a house can tell you how many documents you need to sign during this process. Even before you get to the closing day, you still have to sign off on various reports, financial statements, and so much more. Rather than constantly going into a real estate professional’s office, e-signatures can be used to accomplish the same thing in a fraction of the time. This is especially helpful if someone moves to their new home across the country.

Take digital document management tools like a data collection form, for example. These online platforms make it easy to share documents with necessary parties and streamline the transaction process. If nothing else, they eliminate the need to pass paper-based documents from one party to another. You don’t have to worry about something getting lost or misplaced. It’s available to view instantly and instead of taking up space in filing cabinets in an office somewhere, all the information is available in the cloud.

Overall, real estate professionals are a shining example of why it’s so important to embrace modern technology for more than just “the sake of it.” Some invest in cutting-edge tools largely because they want to be seen as utilizing the “latest and greatest.” Others invest in these assets because they allow them to work better, smarter, and faster. The real estate industry absolutely falls into that second category.

Artificial intelligence, augmented reality, and even digital document management allow real estate professionals to elevate their game. They let hardworking men and women provide exceptional service, while also putting them in a great position to stay ahead of the curve in an incredibly fast-paced and dynamic market as well.