What Will Future Clients Demand From Estate Agents?

16.08.23 02:33 PM Comment(s)
digital real estate

In this ever-changing real estate market, estate agents find themselves at the forefront of changing demands from both potential buyers and sellers. With advancements in technology, evolving customer expectations, and changes in the property market taking place, estate agents have had to adapt their strategies and approach to real estate marketing accordingly.

In this blog, we'll be going through the different factors that are likely to shape client demands from estate agents. By understanding any emerging trends, real estate agents will be able to better prepare themselves to meet the changing demands of the real estate market and their clients.

Eco-friendly property portfolio

Sustainability has become a hot topic in recent years, especially within the real estate industry. In this current market, you may notice many of your clients will be more interested in property listings with features that support sustainability and energy efficiency. Future clients will likely want to see more energy efficient properties, homes built from eco-friendly materials, and sustainability certificates.

Estate agents will also be expected to keep up to date regarding any incoming trends or advances in the sustainability space. This is especially true when working with sellers and property owners who are planning to flip their properties, as swaying them towards greener practices will help to increase the value of their properties.

Agents who are able to provide comprehensive information regarding green initiatives, energy-saving options, and environmentally conscious neighbourhoods will be able to gain a competitive edge in the market.

Digitised services

It's no secret that the world we live in today is becoming more tech-oriented, and the real estate industry has had to make changes to accommodate this. The COVID-19 pandemic pushed estate agents into offering online property viewings, but agents may have to begin using more advanced technology soon.

Aside from being able to view a property online, recent technological innovations mean property viewings could be held via virtual reality very soon. With these virtual viewings, potential buyers can tour properties remotely through fully immersive virtual reality experiences. This will help assure buyers of any purchases they make as they'll be able to make more informed decisions after having fully engaged with the property.

If you're looking to gain an edge over your competition, we highly recommend looking into digitising your viewings process as well as any of your other business processes.

Looking for a tool to support your estate agencies digitisation process? Rezi Screenz is designed to provide your clients with an easy way to virtually view your properties from the comfort of their own home. With seamless integration with the Rezi software, your estate agency will be able to generate leads and complete sales much more easily.

Streamlined buying and selling process

The advancements in real estate technology also means that clients will expect faster and more efficient real estate transactions. Clients value efficiency and typically prefer working with estate agents that are able to streamline the property buying or selling process.

To meet this demand for efficiency, estate agents will need to optimise their business processes to minimise paperwork, automate routine tasks, reduce transaction times, and leverage digital solutions. By simplifying a traditionally time consuming transaction process, agents can help their clients save time and provide a more efficient selling experience.

While this may seem daunting at first, our Rezi Anytime all-in-one real estate software can help make this process as seamless as possible. Our software includes several features that are designed to make selling real estate as seamless as ever, such as digital document signing, intuitive appointment management, and live property transaction updates.

Supporting clients beyond the transaction

The best estate agent is the one who goes above and beyond for their clients. These days, An agents role no longer ends after a sale has been made or a deal has been secured. Many estate agents now offer property management services as well that buyers can take advantage of after a sale has gone through.

The level of involvement an estate agent has with the buyer after a sale can vary. Some agents are willing to provide advice to their clients, especially if they are new homeowners. Others offer more hands-on services and help their clients manage their property. This is typically the case for property owners who are looking to rent out their house to tenants.

While these additional services may technically be considered outside of the job scope of a traditional estate agent, buyers are now expecting this type of additional service to be the norm as part of working with estate agencies. By implementing this strategy, agents will be able to build long term relationships with buyers, which then equates to long term success.

Expertise and market knowledge

Anyone in the business of selling property is expected to be an expert in all things surrounding real estate. A professional agent should already have a comprehensive understanding of the real estate industry and market, but clients will now expect estate agents to have the most accurate and up-to-date information regarding the real estate industry.

This information would include detailed insights into local market conditions, trends, pricing, and investment potential. To accommodate this expectation, estate agents will need to make sure they're keeping up with current and/or changing regulations, neighbourhood developments, and emerging market opportunities. By doing so, agents can begin to offer valuable insights to any potential investors and buyers, which then strengthens the relationship between the client and the company.

Properties with remote working options

Ever since the pandemic, more companies have started allowing for hybrid or fully remote working models. As such, your estate agency will need to be able to cater to potential buyers who work within these flexible models.

This may involve bulking up your property listings with houses that feature dedicated home offices or work spaces to help your clients find the right property for them. Another good way to take advantage of this trend is to start offering short-term rentals for digital nomads.

This trend also means that houses with home offices, or those that can accommodate remote working, have increased in value and become more desirable. When working with a property owner who is  looking to sell a house with these features, make sure you collaborate with them in order to reach an asking price that works for both your estate agency and the seller.

With this approach, your company will be able to maintain success despite the rise in remote working and popularity of the digital nomad lifestyle.

Transparent transaction process

Clients are now demanding seamless and transparent communication from their estate agents. and we expect this to become an industry norm in the future. An estate agency that can provide instant access to information and responsive communication channels between agents and buyers are guaranteed to see more successful sales.

To do so, estate agents should be utilising efficient communication tools such as email, messaging apps, video conferencing, and social media platforms to provide real-time updates, address any queries promptly, and maintain constant engagement with their potential clients.

However, implementing all these tools can be overwhelming at times, which is why we recommend using online real estate software with third-party integration capabilities, like our Rezi estate agency software. With this feature, you can begin automating your emails for seamless communications.

Data-driven insights

In order for your estate agency to stay competitive, you and your agents will need to start leveraging data and analytics in order to stay ahead of the real estate market. By staying informed about the different economic factors such as valuation trends and changing mortgage rates, you'll be able to build stronger and longer lasting business relationships with your client base.

In a market that has increasingly embraced the role of technology such as machine learning, estate agents can also use this to their advantage and use tools such as AI to analyse and use large amounts of data. This data can then be used to create targeted marketing campaigns and more accurate property matching services, thereby increasing acquisition rates, retention rates, and sales.

Final thoughts

The role of the estate agent, and what clients demand from them, is constantly being shaped by advancements in technology, changing demographics, and evolving customer expectations. By embracing technology, strengthening communication channels, maintaining market expertise, and promoting sustainability, estate agents can position themselves as trusted advisors who are able to keep up with the evolving needs of the real estate market.

If you're an estate agency looking for the perfect software solution for your business, our real estate software is here to help! Browse through all our different all-in-one digital real estate platforms to find the perfect one for your estate agency today. Or, book a demo to find out more.