New Real Estate Sales Efficiency: How to Do More Electronically
Coming into the real estate industry as a new real estate sales professional you would be remiss not to realize how competitive an industry you are entering and that efficiency is king. The beauty of being new to the industry is that you can bring fresh ideas to the table about how you go about your daily activities. When we talk efficiency, we mean efficiency in a specific context: the ratio of the useful work performed by a machine or in a process to the total energy expended or heat taken in.
The most effective way to do this is by doing more electronically. From marketing to administering your deals.
On the marketing side, the playing field has been leveled. In the past those with smaller marketing budgets had difficulty competing with the seasoned professionals with big budgets for bench ads, calendars and sign advertising. These conventional marketing mediums have just about been eclipsed by the emergence of social media. Through social media you can market yourself and listings, establishing a vast network of connections – all electronically. Digital marketing through social media or even through real estate specific platforms – both available online and through mobile apps – increase your exposure and a client’s accessibility to you.
In deal administration, the real estate industry has been inherently burdensome on the paper side. Between contracts and agreements, listings, sales comps and the myriad other collateral a real estate sales professional may bring to a meeting, more can now be done electronically.
Meeting a client at your office
- When a client comes to your office to meet have 2 things ready:
- GeoWarehouse loaded on the computer – to quickly view property information with the client (either their property, or properties they would like to see)
- ViMO loaded on your tablet – if the client wants to engage you, you can electronically prepare the listing or representation agreement and sign it electronically
- Rather than copying identification and other material the client provides – scan it!
Meeting your client on the go
The old way – purchase:
- Pre-prepare representation agreement
- Meet the client
- Have the client sign initial agreements re: representation
- View properties of interest – take photos if necessary
- Go back to the office, research the property, if there is an offer to be made, prepare the offer
- Meet the client again to sign the offer
- Email or fax the offer to the other side
The electronic way – purchase
- Ask the client for properties they may be interested in seeing and research some of your own
- Attend the appointment armed with sales comps for the properties you will be seeing in the event your client is interested
- Meet the client – ensure you have your tablet
- Prepare the representation agreement on your tablet and have your client sign it electronically
- On the road the client spots a property for sale that wasn’t yet appearing online
- Using your ViMO app on your tablet, stand in front of the property and using augmented reality, snap a photo that reveals all property related information
- You check ViMO app to see if the other real estate sales professional is online, and they are – you send them a message and they send you the lockbox key
- You show your client the property and they love it – you message the other side to expect an offer shortly
- You prepare the offer electronically and transmit it to the other side using ViMO
…. And the rest is history….
So as a new real estate sales professional you can see that investing in technology and investigating online tools for real estate sales professionals both online and through mobile apps will make you more efficient and prepared to compete the seasoned pros.