11 Feb 5 Reasons Why You Should Combine Real Estate Technology with The Personal Touch of a Property Broker.
As we move into a new decade, it is plain to see how the real estate industry is becoming more and more technology driven. From marketing systems, credit scores, to online search tools – technology has helped to create a more user friendly and streamlined experience for real estate consumers and businesses alike.
Advances in technology have made investing in real estate more efficient and accessible, and as such, many people are now choosing to purchase property wholly online.
However, while at first this sounds like an effective and simple advancement in real estate, at its core the real estate industry remains a relationship business. Ultimately, the use of technology on its own will let you down.
As a business owner or real estate investor, you want to work with a property broker who will embrace technology and use it to their (and your) advantage, while not losing sight of the importance of their own ‘personal touch’. The best brokers are those who understand that the future of real estate is a calculated combination of the two.
Here are 5 ways Brokers can work alongside real estate technology, to create a better experience for their clients.
1 – Enhance New Client / Broker Relationships
It’s no secret that the majority of high-end property deals are made from a place of trust between the client and broker. Previously, this relationship was forged over time. Buyers and sellers would require a broker to walk them through the process, as well as share their knowledge and expertise on the market and new areas. Now, however, when this information is readily available and transactions happen faster, it can be difficult to create this important bond.
But it isn’t impossible. Property brokers at Stonelink International, use the data available to them and their clients, and make sure they interpret it in a meaningful way for each different situation. It’s about adapting and applying to the client’s specification. While technology can provide the information, it is unable to fully understand and deliver exactly to the needs of a client. Only a broker can bring in that all important intuition and experience, that goes into creating every deal.
2 – Maintain and Upkeep the Positive Relationship with Existing Clients
Keeping in touch with past clients in the hope that they return for your services, can be a time-consuming process with little rewards. At Stonelink International, the London broker, it is still part of the company philosophy to call the clients, so they know we care and are aware of what is currently taking place in the overall market and are ready to present a case should the client be simply thinking or perhaps seriously thinking about their next move.
In the background, automated systems allow our brokers to keep previous clients up to date with the market, company and other specific news, either through the media journal and social media updates such Linkedin and Twitter, enabling and continuing the relationship long after the deal has been done. Utilising technology in this way may be asynchronous, but it easily keeps network connections open and informed, which should lead to new sales in the future.
3 – More Comprehensive Understanding of the Client
Any property broker with more information about a client’s needs and desires, is in a better position to show them property that will truly interest them and in turn, make a deal. There are many technology systems that can track client searches, learn information about them, and narrow down property, on the market, to specific selections that best suit them. However, this is only a small part of the deal.
As a leading London Real Estate firm, the core aspect of Stonelink International’s approach is targeted properties for our retainer clients, that do not and will not, ever exist on the market. This is the strength of the company’s network, relationships and brand and why we are chosen and instructed by local and international business owners and property investors to represent them.
This approach, combined with our investment in specific technology and lower overheads, will also assist with quicker and more sound due diligence and anti-money laundering checks on a property investor or company, that may be buying or selling or leasing a property. It will improve productivity and save both the broker and client, time, energy and money with the ability to remain focussed on the core aspect of the business and seeing through the transaction or deal.
4 – Generate More Promising Leads
Technology also provides the perfect systems to generate leads and engage prospects. A broker’s job, on the back of this, is to make sure these prospective clients are being supplied with information that is relevant and engaging to them. While the tech generates the lead, the broker is responsible for opening up a dialogue with the client.
With information being at our fingertips, the property brokers at Stonelink International are able to move fast and decipher between a paying client and a non-paying client, a decision maker or a thinker, all important contributions towards managing our energy, focus and time on the clients that really need or want to instruct our firm for their benefit.
5 – Clarity with Blockchain in all Real Estate Acquisitions, Sales and Leases
With blockchain technology being available, it is still at the testing phase and it seems it will be a while before it becomes a fundamental process for all UK property purchases, sales and leases. The London broker team at Stonelink International was on fact finding mission during 2018 and 2019 to understand when this technology will come in play but must remain patient for the time being.
We would love it (blockchain) to be available now to remove the ambiguity and anxiety of the current sales, buying and leasing process. The painful and slow turnaround and multiple mistakes that are made once an offer has been accepted and the conveyancing / legal firms take over the process, is mind boggling and it has been a common pattern across many of the deals completed in the past.
The UK land registry has tested and successfully completed a blockchain trial and this is an encouraging sign and one we will keep all our clients updated with in due course.
As you can see, the top property brokers are those who incorporate technology into their current business model, while ensuring they don’t lose that personal touch that clients are searching for.
Would you love to learn more? Start a conversation now with the London broker at Stonelink International, about your next steps in your journey. Call direct on + 44 (0) 207 993 4081 or contact us for a fast response.