2023 promises to be a great year to buy and sell real estate in the US market. After several rollercoaster years that followed the Covid-19 pandemic, US housing market trends are finally pointing in the direction of some much-awaited normalization.
As more homebuyers and sellers enter the market, this will create ample opportunities for savvy brokers to expand their business through hiring more agents and acquiring new clients. At the same time, the influx of brokers rushing to take advantage will lead to even tougher competition in the industry than we are already seeing.
The good news for aspiring professionals is there are many ways that technology can help you grow your real estate brokerage and outperform the rest of the competition in the local market.
In this article, we will cover the five most valuable strategies you can use to leverage technology for the expansion of your real estate business in 2023 and beyond.
Establish and Solidify Your Online Presence
There are two sides to growing a real estate brokerage firm: 1) Attracting more quality real estate agents to work with you and 2) Persuading more clients to buy and sell a home with you. To succeed in both of these areas, it’s crucial to have a solid online presence and an impeccable online reputation. Both agents looking for a new broker and homeowners searching for a brokerage to hire will check out your online presence before making a decision.
Real Estate Website
There are many different ways that technology can help you boost your brokerage’s online visibility. First of all, just like with any other business, you should create an SEO-friendly website that showcases active listings, recently sold homes, and your expertise on the local market. Use your real estate website as an opportunity to discuss housing market trends, rank the best neighborhoods for various types of properties and homeowners, and provide actionable tips to first-time homebuyers and homesellers. All of this useful information will not only help drive traffic to your website (and ultimately your listings), but also establish your reputation as an expert on the local real estate market. This, in turn, will make everyone want to work with you.
Social Media for Real Estate Brokers
In addition, don’t underestimate the power of social media in expanding your real estate brokerage. However, it’s important to avoid the common mistake of trying to be present on all social media channels and spreading yourself too thin. Instead, choose two to three platforms and focus your efforts on solidifying your reputation there. Facebook, Instagram, and LinkedIn generally offer the most value in providing that necessary boost and getting your brokerage in front of both real estate agents and leads.
Real Estate Agent Online Profiles
Last but not least, our final tip for establishing a strong online presence is specific to real estate professionals. Recent years have seen a boom in third-party real estate websites with agent and broker listings. These websites including Zillow, Realtor.com, Homes.com, and others function very much like directories, allowing you to create a profile for yourself and/or your firm, enter your information and expertise, add your listings, and get reviews from employees and clients. This last point is extremely important. Before choosing a brokerage to work with, both agents and homeowners will check out online reviews to ensure that the broker they select is trustworthy, accommodating, and professional.
Boost Individual Productivity and Team Collaboration
After deploying some of these strategies for enhancing your online presence, your team and workload will inevitably start growing. Therefore, you will need to put effort into ensuring that your brokerage expands in the most efficient way. If you grow too fast, it’s easy to lose sight of the bigger picture and enable inefficiencies within your team and business processes. This will eat into your profit and limit your further growth.
Once again, real estate technology can offer some much-needed support in this aspect. When it comes to your team members, it’s crucial that they bring real value to the team and work well together. Even if you have the best agents in the local market, your brokerage cannot prosper if cooperation isn’t smooth and each member is only focused on their individual success. While this will always require outstanding managerial and motivational skills on your end, real estate tech tools can make the process more seamless.
Make sure to provide your team with all of the technology tools and platforms they need to measure and optimize their individual performance. This doesn’t mean demanding the use of apps to track working hours, which can actually end up demotivating them. Instead, choose CRM platforms with functionalities like calendars, task management, and collaboration tools.
Before implementing any technology across your brokerage, it’s a good idea to test it yourself for a few weeks and make sure that it really helps manage time more effectively. Once you have confirmed the value of the app, you can deploy it across your organization.
One tool that can help you boost both individual and team productivity in 2023 is Landslo. Our digital real estate assistant conveniently coordinates and sets appointments on your agents’ calendars at the best times for them and their clients. This prevents duplicate meetings and makes meeting with leads more manageable—all with zero effort on your end.
Optimize Real Estate Listings Creation and Marketing
In order to grow your real estate business, you need to start buying and selling more properties faster. The speed at which your homes for sale get sold depends largely on the quality of the listings that you create, as well as your distribution channels and strategies.
Real Estate Listings Optimization
Technology can help you optimize your active listings in a few different ways. For instance, listings with 3D virtual tours have proven to sell faster and at higher prices than comparable listings with images only. Furthermore, various SEO tools can help you choose the right words to include in the titles and descriptions of listings in order to get more eyeballs on them. This is particularly important for listings that you publish on your website, as you want to strike the right balance between the quantity and quality of the traffic that you drive to it. Attracting many qualified leads to your website is one of the most straightforward ways to generate new clients and grow your real estate brokerage exponentially in 2023.
Real Estate Listings Marketing
In addition to creating outstanding listings that homebuyers cannot resist, you also need to distribute them as efficiently as possible. While having them on your website is a must, it’s simply not enough in today’s competitive market.
Other technology-related strategies you can use to distribute active listings include social media marketing, paid marketing (PPC and display ads), video marketing, and others.
While most of these methods are leveraged by the majority of brokerages, there is one lesser-known tool that can give you a competitive advantage over other real estate professionals. The Landslo smart assistant helps you send customized listings to your clients. It works by considering the specific expectations and requirements of homebuyers to match them with the best homes for sale within your inventory. Through this direct matching process, you are guaranteed to decrease days on market significantly and sell more real estate than ever before.
Enhance Lead Generation and Nurturing
Yet another way that technology can help you grow your real estate brokerage in 2023 is by optimizing and automating the tasks involved in generating and nurturing leads. The ultimate goal of all the strategies we have discussed so far is to bring more interested, qualified leads to your firm that you can nurture and turn into actual clients.
There are a myriad of real estate technology platforms that claim to help boost lead generation and conversion for agents and brokers. However, let’s talk about a unique tool with functionalities that no other app can provide—Landslo.
In addition to sending customized listings to homebuyers, this smart digital assistant is also able to take over and perfect communication between your agents and your clients. And as you know, this is a crucial element in nurturing leads and converting them into customers.
Landslo can send automated responses to your leads’ burning questions instantly—no matter what day of the week and what time of the day (or night) they pop up. With the help of Landslo, responding to countless lead inquiries will no longer take the majority of your team’s time and effort. As a result, they can focus on the other aspects of buying and selling real estate that require real human interaction.
Just like a real assistant, Landslo can also be proactive by sending information on local market trends and specific property numbers—neither keeping your clients in the dark nor overburdening them with sales pushiness.
Close Deals Faster and More Efficiently
If you follow the strategies outlined above with enough diligence, you are likely to end up with more deals to close than you even know what to do with. While this sounds like a nice “problem” to have, it can turn into a real struggle if not handled properly. That’s why the last step to growing your real estate brokerage firm through technology is optimizing the deal closing process.
There are various technology tools that can assist you with this. For instance, some platforms can help your homebuyer clients locate the best financing options and ensure that they qualify for the selected mortgage loan. Apps that provide options like remote online notarization (RON), digital escrow, electronic signatures, and e-closing also help brokerages save a ton of time in this final stage.
Here are some examples of online platforms under each of these categories:
Financing services: NerdWallet and The Mortgage Reports
Remote online notary services: Notarize and Notary.io
Digital escrow: Earnnest and Propy
Electronic signatures: DocuSign and eSignatures.io
E-closing: Qualia and E-Closing
Final Words on Growing Your Real Estate Brokerage in 2023
Having the opportunity to expand your real estate brokerage is an exciting time, but enthusiasm and effort alone aren’t always enough to get there. In order to surpass the competition and grow at a faster rate, you need to rely on the latest real estate technology. If you follow the strategies discussed above, we are confident that 2023 will bring you and your business everything you are hoping for. To learn more about how Landslo can help you along the way, schedule a free demo now.