Technology has had a tremendous impact on the real estate industry during the past decade.

As consumers become more tech-savvy and their expectations evolve, a combination of a digital approach to home buying and selling and the human ability to provide unparalleled customer service is becoming increasingly necessary.

Wahi participated in the recent First-Time Homebuyer survey, conducted by Environics Research on behalf of Sagen. It shows 75 per cent of first-time and aspiring homebuyers said that when it comes to choosing a realtor, having the best digital tools and data — like mobile apps and home value estimators — are important criteria.

By leveraging the right tools and digital platforms, realtors can work with the latest tech to provide a more personalized, transparent, and convenient experience for their clients, helping to forge stronger relationships and create more business opportunities in the long run. 

Here are six  ways realtors can use technology to enhance their relationships with clients:

1. Offering convenience

The ability for consumers to search and browse homes for sale online has possibly been the biggest game changer.

Eighty-three per cent of those polled by Wahi look at home listings online. Not only can consumers find homes on their mobile devices, they can now filter for location, price and home attributes, save their searches, see sold data, receive real-time alerts for listings that match their preferences, and get connected with the right realtor for them.

The best digital products leverage machine learning to learn from user behaviour to provide personalized property recommendations that align with a consumer’s interests.

Thanks to the emergence of digital real estate platforms, taking a tour of a home and booking a showing has never been easier.

Virtual and augmented reality allow a homebuyer to get a sense of a property’s interior without visiting it. And once they have decided which homes they want to see, homebuyers can book showings directly through websites or apps. 

2. Better insights

AI-driven recommendation systems that use external data and image recognition, combined with user behaviour, can provide personalized recommendations to potential buyers, making it easier for them to find properties that are to their liking.

This means a more streamlined and productive search process and less time wasted driving to properties that may not be of interest.

3. The right fit

AI is now being used to match consumers with realtors who are best-suited for them.

With this innovative system, homebuyers and sellers can find the best realtors for their area and property type, as well as compare fees, services, realtor profiles, statistics, and personal introductions to find the right fit. 

Realtors benefit from this advanced technology because it connects them with highly qualified and relevant leads. The system’s personalized recommendations ensure that agents are matched with buyers and sellers who are interested in their specific areas of expertise and are most compatible in style and personality, which can lead to an overall more effective real estate process.

4. Tailored customer service

ChatGPT is rapidly being adopted in a number of ways for real estate — from helping realtors write better listings to plug-ins that help consumers turn the home search experience into a conversation.

This trending technology is also being used to synthesize and summarize data about clients while they search for homes online, providing realtors with valuable information about a client’s needs and wants.

This data-driven approach provides valuable insights about the client that allow realtors to deliver a higher level of service and tailored recommendations based on a client’s preferences.

5. Empowering clients

Perhaps one of the biggest benefits of some of the proptech technologies coming to market is the democratization of data.

Proptech platforms leverage data analytics and machine learning algorithms to provide current market insights. Realtors can work with their clients to use real-time market data about property prices, trends and market forecasts to help them determine what, where and when to buy or sell — and even how much to pay. 

One example is the ability to get an instant home value estimate. These tools are continually improving as the algorithms continually learn and thereby get more and more accurate at predicting real-time values.

Access to this information gives clients a greater sense of control as they can use it to make a more informed decision when it comes to buying or selling a home. 

6. Building trust

When clients are given agent-level access to market information they feel more in control, more confident in their decision making, and, ultimately, more trusting of their realtor.

The client knows what you know and is not left second-guessing their decisions when it comes to the biggest purchase or sale of their lives.

Empowering clients with knowledge allows realtors to really get to know their client and therefore provide more value-added advice. A well-informed client is also more likely to trust their realtor’s expertise and guidance throughout the process. 

While technology is rapidly transforming how clients can buy, sell or rent a home, it doesn’t replace the uniquely human ability to cater to an individual’s needs. Clients will still require guidance, expertise, local knowledge, and support along the way.

However, integrating those technologies that bring convenience, control and transparency to the home buying or selling process is what separates a great realtor from a good one.