Why Proptech Can’t Replace A Great Real Estate Agent*

*It can only help them work smarter

Humans + Proptech (not Humans v. Proptech)

There are an estimated 2M active licensed real estate professionals in the U.S. Nuance, discretion, body language, emotion are to name the multitude of factors that play a massive part in the pre-sales process. The proptech industry should not think of how to replace agents, but to discover how they can best work together.

In essence, to give New Development sales and marketing teams better tools. They therefore need to:

  1. continually improve the customer/user experience at all stages of the buyer journey
  2. enable digital and team integration between the relevant members of sales and marketing teams. The more optimized the process becomes, the better everyone becomes at their job.

Every channel to closing a presale (both human, digital and offline) should be exploited to the maximum that the budget allows.  According to Hubspot, omnichannel marketing is a multi-channel approach to marketing, selling, and serving customers in a way that creates an integrated and cohesive customer experience no matter how or where a customer reaches out. Apparently companies have 91% greater year-over-year customer retention rates compared to business that don’t use omnichannel techniques. (source)

What is the difference between multichannel and omnichannel marketing?

The multichannel experience is what most businesses invest in today. They have a website, blog, Facebook, and Twitter. They use each of these platforms to engage and connect with customers. However, in most cases, the customer still lacks a seamless experience and consistent messaging across each of these channels.

An omnichannel experience, on the other hand, accounts for each platform and device a customer will use to interact with the company. That knowledge is then used to deliver them an integrated experience. Companies using this technique align their messaging, goals, objectives, and design across each channel and device.

When it comes to presales, a lot of real estate professionals will recognise a multichannel approach and wonder how they can integrate the buyer across the different channels. Every project requires its own unique omnichannel experience infrastructure, and the marketing team, in developing this omnichannel plan for a presales project, could consider working closely with such departments as:

  • The advertising company
  • The property developer/client
  • The architects
  • Members of both the Digital Marketing and offline marketing teams
  • Inbound and Outbound sales teams
  • The Sales Agents and the rest of the Sales Office team
  • Branding, Graphics, etc
  • Legal and other professionals involved in the buyer journey

Once everyone connected to the project understands the goals and objectives of the omnichannel plan, the broader shift of the project to omnichannel becomes easier…

The goal?

A coherent, aligned and integrated experience across multiple platforms.

To read more about the bridging the online/offline divide (think Amazon buying Whole foods), and its importance to an omnichannel strategy, see this article.

The “D word”

Realistically, some companies will track online user data and utilise this better than others. This data can be analysed by the Business Intelligence team along with other relevant data to help management make intelligent business decisions and define processes. For example to know exactly how long each stage of a sale takes, when and where buyers drop off, etc. Before managemnt can properly decide what tweaks need to be made to improve the process, hard data (as opposed to “speculation”) makes for more intelligent business decision making… This article from WSJ shows the importance of the data loop to create businesses that can compete with other such data driven companies…

We understand that it is the people in these teams who work daily at the coalface that will understand and find the most creative and effective ways to explore sales and marketing channels. Please leave a comment with new ideas!

Any questions or corrections please feel free to leave you contact details here or email me on [email protected]

The Author:

Conor Brady: Co-Founder, CEO of Captate | Connect with me on Linkedin & Twitter

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