Buying your future home is becoming an increasingly digital experience; in fact, 95% of home searches now begin on the internet. Millennials, in particular (who now represent the largest, and growing, age group of the home market), are accustomed to the online experience and the on-demand, informational nature. With unlimited online access to tools and resources, they expect a similar experience from the real estate agent.
Why is customer experience important in real estate?
The experience someone has throughout their home buying process is crucial for building strong relationships between realtors and home buyers. Every interaction helps build trust, loyalty, and encourages word of mouth referrals. Property is one of the biggest purchases a person will make after all!
A recent study showed that only 17% of first-time homebuyers contacted a real estate agent as their first step. While demographics and technology are changing the home buying process in the digital age, real estate professionals aren’t faced with a threat. Instead, they have an opportunity to more effectively reach clients, offer a better customer experience, and differentiate themselves as the valued resource today’s home buyer seeks. So, how does one stand out and connect with new customers?
Make your customer experience unique
Selling or buying a property is a major step, often intimidating and stressful (especially for first-time buyers). Customize each of your relationships for a smooth and successful real estate transaction. Providing a responsive, organized, and straightforward purchasing experience for clients will have a positive impact not only on the current sale but also on future business; in today’s review culture, a happy client is one who will share their experience. Recommendations to friends, families, or colleagues turn into an all-important referral business.
A personalized process develops a relationship based on trust. Trust is inherent to the value of expertise and expertise is inherent to an agent’s ability to address a client’s fear and desires.So, in order to offer a truly great customer experience, get to know your customer. Learn their story and pick up on their specific interests and pain points. It’s likely most will prefer real estate companies who know how to offer a very attentive approach in some areas and a more independent one in others. You must find the right balance and become the asset that the client needs.
"If today's shoppers are certainly more informed, they still want to feel supported throughout this demanding and stressful process" - Real Estate Agent, Matterport ClientAccording to a recent survey conducted by the National Association of Real Estate Agents, 52% of respondents said they preferred to be helped by an agent to find their ideal property. Another survey done by Owners.com found that 49% of homebuyers said finding the right home was the hardest part of the entire process.
Pioneer real estate technology & improve your brand positioning
Innovation is essential to every industry. The more competitive the landscape, the more necessary it becomes. Both buyers and sellers will search for the best experience possible in what is usually an emotional and stressful process. To stand out, real estate professionals must adapt their business to modern appeal and the tools at their disposal. As they become more aware of the tools that are available, clients will only continue to gravitate towards brands that innovate.Establishing your brand at the forefront of an innovation’s awareness provides value beyond its day-to-day efficiencies or results.
Of course, choosing an innovative strategy is easier said than done. Put yourself in your client's shoes. Again, understanding your clients will inform this thought process. At the end of the day, it’s about defining your value proposition and positioning your expertise in a field where quick and reliable insight is key.
The ability to communicate your insight and the information that supports it has now been enabled by technology like never before. There are many tools with various functionalities designed to customize the way your brand reaches potential customers. Offering a complete and accurate look at what a client can expect is especially important in the real estate industry. Utilizing reality capture technology such as Matterport 3D provides this immersive experience with the most comprehensive and accurate look at the details of a real estate listing. A unique real estate customer experience such as these navigable models complements the value you aim to convey through a unique perspective.
Expand your market reach using virtual tours
Today's buyers and sellers are more informed than ever before. They know what they’re looking for but also value an expert’s ability to facilitate the process to make finding it possible. In what amounts to a 24/7 open house, this complete and comprehensive view from your business with Matterport provides continuous access to the home search facilitation the real estate market seeks. The efficiency of this remote experience extends throughout the process, streaming business operations from marketing, to showings and closing. In fact, a recent study showed that the use of virtual walkthroughs reduced the sales process by an average of 21 days.
Today’s real estate professionals must reinvent client and prospect experiences by offering tools and services that allow each to cater to their own customized approach. Build a brand that creates client confidence by providing immersive, informational resources that make this major step in their lives unforgettable.
Real estate customer experience FAQs
How do you improve real estate customer experience?
A real estate business can improve customer experience by employing the following strategies:
Establishing an online presence
Engaging with users on social media
Offering an omnichannel experience
Adapting based on customer feedback
Delivering high-quality service across all touchpoints
How do you get new customers as a real estate agent?
Realtors can get new customers by keeping a close eye on their market, playing an educational role (especially for first-time home buyers), listening to customer requirements, providing a good selection of buying options, and asking for reviews and recommendations from happy customers. Balancing market knowledge and building a strong human connection with each client can go a long way in growing a loyal customer base.
What should be the main focus of customer experience in real estate?
To maximize user experience, real estate agents should focus on improving the efficiency of their service. You can achieve this by leveraging the latest technology to offer personalized experiences and build virtual tours that will provide your potential customers with a preview of their new home from any place.