Like many industries, real estate has been dramatically disrupted by technology. The “lone wolf” agent model for real estate is becoming more challenging to sustain in a new tech-centered marketing landscape. From video production to social media distribution, ad campaigns, Zillow leads and autoresponder campaigns – one individual can’t do it all.
Because larger organizations can afford better marketing efforts, team-based organizational structures are becoming increasingly common. But as agents continue to work more collaboratively, they need better tools for communication. The best way to ensure success would be to set aside time to train and teach junior professionals how to show each property. However, with all the work they do to bring in sales, it’s unlikely that any top performers will have the time to spare. Additionally, you probably don’t want to pull your best workers out of the field.
The solution? Augmented reality. Rather than force your agents to take detailed notes and give extensive tours to colleagues, you can cut time and increase retention by using this accessible frontier technology. Here are three reasons why AR is the ultimate cheat sheet for realtors.
Boost team performance
When you’re working in a team, it’s inevitable that some agents will know more about certain properties than others. If an agent with less knowledge of a property is the one showing it, they won’t be able to sell it as effectively as one of your superstars would. AR communication apps can help you distribute your well-honed narratives, and ensure that anyone who shows the listing is successful. By having your agents record videos of themselves explaining selling points throughout the house (e.g. “the wood on this deck was imported from Indonesia”, “this is one of the largest master bedrooms in the neighborhood”) you can set your newer or less knowledgeable associates up for success.
Using an AR communication app like Taggr is simple. Simply stand in front of the area you want to record information about (e.g. the kitchen), and start talking. Once the videos are created, you can “pin” them in specific locations in the property, like digital post-it notes.
When an associate enters the listing at a later time, they can use the app to locate any videos that were “left behind” for them. The best part is that these movies are easily accessible at any point in time. An agent can enter a home just 10 minutes before the showing, or open house begins, and review the “digital post it notes” and make sure they are up to speed.
A faster way to share information
In business, time is money, and researching a property effectively can take hours. The most efficient way to get this information out is to have one agent research a listing and then share what they know with others. However, many agents like working in real estate because they can show real houses and homes outside the confines of an office. They don’t want to sit at a computer writing, editing, and distributing files filled with detailed notes.
AR can streamline the sharing process. Transferring information is as easy as taking a series of 30 second selfie videos. Your best agents simply visit the properties they are most familiar with, and run through their typical presentation, providing helpful hints like “make sure to keep the blinds open to highlight the view” along the way. These videos are fast and simple to create, and even faster to consume.
The nature of an AR app means that it’s ideally suited for sharing information about a three dimensional space like a house, condo, or apartment. Miscommunication can occur when an experienced agent writes that the homeowners have installed a brand new sink, only for another agent to get to the property and wonder “which one?” because there are two. AR communication apps eliminate these concerns because videos are recorded in front of the object. It’s easy for a new agent to view the information without having to scroll through emails and request access to shared files.
Easier to remember information about listings
One of the most challenging parts of communicating knowledge about a listing to another agent is making sure they retain the information. If an agent receives and reads a file in the office days before they are scheduled to show a house, they might easily forget an hour’s worth of reading. AR communication apps allow agents to quickly refresh their knowledge while they are onsite, because the videos are short and immediately accessible through a phone.
An SF-based realtor pins a video to the kitchen of a luxury building. The video explains to colleagues the ideal way to tour this particular property.
You can boost the performance of your agent teams and save time by taking advantage of augmented reality. These capabilities allow you to upload and view information much faster than digital notes would, and agents who watch these videos are more likely to retain what they have seen. We’re just seeing the beginning of how virtual and augmented reality will impact the real estate industry, and great opportunities lie ahead for those who give them a try.