Customers benefit from real estate tech advances
A recent consumer poll showed 86% of potential house buyers use online as their main way of finding properties. This is a considerable shift from how the community consumed real estate content 10 years ago, and an absolute transformation from 20 years ago.
It’s a story that’s been replicated across our daily lives: we can order the weekly groceries without stepping foot in the supermarket and book hotel rooms online rather than flipping through the Yellow Pages.
Over the same period, the online user experience has transformed greatly, moving from generic, clunky website interactions to integrated social media and digital campaigns that can be tailored to individual customers based on pre-qualified data.
Artificial intelligence was once considered the basis of a science fiction novel is now part of our everyday online activities - so much so that we barely recognise it.
It’s in your suggested shows on Netflix and music streaming services, all with the aim of providing a user experience suited to your likes and preferences.
Artificial intelligence can even advise you of a property’s estimated value, comparing it to other sales in the area with similar characteristics; however, this is a very loose guide and unable to predict the individual appeal of a property to one or more buyers whose competition for a property will determine its true value.
Chatbots have become the new Frequently Asked Questions tool. Either through our keyboards or voice recognition, we can find out the answer to rudimentary questions such as recent sales in a suburb.
LJ Hooker, itself, has made great inroads into developing the digital customer experience in the real estate industry. Indeed, LJ Hooker has been awarded the Digital Presence of the Year for the last three years by industry journal Real Estate Business.
Digital is an enabler - not a replacement - for our agents and property managers to better service our customers. We’re proud of the cutting-edge advancements we’ve made but all of them support the crucial face-to-face interaction, insights, advisory services and relationships which our real estate specialists offer to help sellers find buyers, landlords find tenants, and other real estate services along the way.
Last year, LJ Hooker launched its $1 million industry world-first integrated social and digital media strategy, LJ Hooker Boost
. As part of Boost
, LJ Hooker partnered with digital advertising aggregator Tiger Pistol. LJ Hooker Boost promotes listings to Facebook and Instagram users based on their preferences and likes – making finding a dream home easier – and amplifies the profile of agents, helping sellers to determine the right person to sell their home.
It’s about tailoring digital engagement to remove the irrelevant for a more intuitive customer experience.
LJ Hooker Boost
also included stylised, specialist property domains through its ‘Spotlight’ feature. With standalone URLs, Spotlight offers a richer, visually engaging experience for users.
The new product has been warmly received as well by our customers. Of all properties listed for sale with LJ Hooker in 2018, more than a third of sellers have insisted on the Spotlight premium package to give their property greater prominence in the digital landscape.
The most exciting part of the digital transformation is that it holds no limits. It simply answers the demands of a digitally savvy marketplace.
It’s great news for time poor customers, particularly in terms of their ability to research the market with greater accuracy.
But whilst the industry embraces digital, we’ll never lose sight of the importance of the human contribution to the real estate process.