How technology drives the sales funnel in Real Estate?

2 min read

Real estate sales today are all about data, teamwork and harnessing the right technological tools. The property industry had for long thrived on colossal hoardings, glossy brochures and a gift of the gab to market its assets and drive sales. With the proliferation of technology and dawn of new-age sales and marketing tools, the real estate sector is charting a new tack, for the better.

It is no secret that sales strategies under the sun have revolved around the quintessential sales funnel. The actual sales funnel is more of a cycle, isn’t it!

You attract a lead, nurture them into a prospect, convince them to buy your products and then cajole them back to the top of the funnel to make another purchase.

The real estate sales funnel is a lot different. When a client buys a property, it is unlikely that he will come back sooner to make another purchase. So, repeat business is scare in the property sector.

Prospect

To become a successful real estate agent, you must be on a constant quest for leads. However, maintaining a healthy pipeline of leads and drive up sales numbers becomes a mental agony for real estate agents.

The situation becomes more critical when sales and marketing teams are always at loggerheads about the outcome of their respective efforts.

Thankfully, technology and sales enablement strategies have brought the two teams together on the same page.

Qualify

For real estate lead generation, both sales and marketing teams come together with their own set of strategies. While marketing teams promote campaigns through social media, PPC and websites to attract leads, the sales guys on the other hand, put those leads into play through cold calling and conversations on social media.

Confirm

A top-notch CRM system sieves through the data collected and provides information about which leads should be given the spotlight.

However, nurturing the leads into a prospect isn’t that easy as it sounds. Today’s generation wear the digital hat and are educated about the real estate market. So, building a sub-standard website with multiple listings won’t help. You must prove that you are better off at understanding customers than your competitors.

Leveraging the power of SEO and PPC meticulously to catapult your website rankings and engaging with your clients on social media will do the trick. Using social media channels like Facebook, Twitter, Instagram and Linkedin to post tips with links to neighbourhood-specific landing pages, talk about neighbourhood features, advertise listings, and post referrals of past clients can click with the clients and convert them into good prospects.

Repeat

As real estate sales cycle is long, losing touch with good prospects can deflate the whole effort put in till now. For the record, prospects are going to remember only that realtor who have provided them with a constant stream of information and helped them understand the advantages in investing in a particular neighbourhood.

Automated email campaigns, weekly newsletters and videos of real estate trends on a particular neighbourhood and engaging with them on social media from time to time will ensure that trust has been established and ultimately lead the client to move forward and confirm the deal.

Transact Online

Location choices made, treat home seekers to your ‘digital assets’ – realistic 3D walkthroughs, bird’s eye views of projects and their neighbourhoods as well as simulated unit renditions in high definition, enabling Real Estate Agents to conduct property showings remotely via a tablet or even a smartphone. This also allows optimal utilisation of manpower and results in more showings in a day, while ushering in zero-displacement-convenience to home buyers and their families.

At Square Yards, with real-time inventory blocking engines, digital signatures and Online payment gateways, the deal is finally closed with the entire property transaction happening online. It is a process we have pioneered and are proud of.

The real estate cycle may look complex from the outset, but with meticulous planning through the sales cycle and investing in time tested Real Estate Technology, a real estate sales funnel will keep running and drive good sales.

Sumit Mondal Content Analyst at Square Yards
Sumit Mondal Content Analyst at Square Yards