Just a few years back, the real estate industry was very much casual towards automation due to the lack of understanding of how automation was going to be the future of the real estate business. But the Covid-19 pandemic came as a harsh reality check as to why investments in various automation tools was really worth its penny. The real estate developers during the lockdown period had no alternative but to consider their operations. With people locked in their homes and direct contact being strictly restricted because of the spread of the deadly virus, realtors were posed with a question they did not have to face for several years, how were they to continue with their business?
It seemed the need of the hour that the realtors needed to come up with a solution. Therefore, the real estate market began to deal with these problems in their own ways. There were some realtors who were willing to offer huge discounts on their ongoing property deals, others came up with the idea of making customer finances easier and more available and tried to make them popular among the buyers. But the ones who really had the insight invested more on digital marketing and used productivity tools such as e-conferencing, cloud calling, digital walk-through. These were the techniques that improved the home buyer journey and revived the real estate market.
The contribution of automation in lead generation in real estate business
The real estate market faced different hurdles during the ongoing period because there was almost no scope for face to face communication. Therefore frequent miscommunication and workflow disruptions evidently resulted in project delays and cost overruns and the real estate market was reeling under this heavy blow. Automation opened a huge scope to generate leads by reaching out to the customers in a much better way. Technologies such as AI, BIM, and cloud-based collaboration came in very useful in addressing these challenges. These technologies also resulted in growth of productivity, lower risks, and completion of projects in time.
The real estate sales strategy was also being a part of the massive changes led by automation. Many realtors have introduced automation to some departments related to their sales process and have immediately seen better results. Realtors are nowadays using different online platforms so that they can collect inquiries from all these sources automatically and they never miss on leads. All the realtors needed to do was to check these platforms on a timely basis so that they could respond to the queries of the leads and therefore they did not miss on any business opportunity.
Last but not least, the introduction of the automated lead capture solution, most of the real estate managers finally found a means to ensure zero lead leakage and generate higher revenues even with the change of the customer behaviour during the pandemic.
With automation now being adopted as an integral part of the business, real estate firms are now willing to create a digital infrastructure in various departments such as lead generation, sales and marketing. These strategies will definitely help the real estate industry recover from the impact of Covid-19 pandemic and cut any future losses.