We often see real estate technology as a good thing, and it can be a good thing for sure. However, your real estate technology can also ruin your business. Understanding how it might be able to do this is a great way to make sure you don’t have to worry about technology ruining your business.
While real estate technology can make things easier, it can also cause issues. If you rely on technology too much, it can be a big problem in the real estate world. Let’s look at some of the ways real estate technology can ruin your business.
How Real Estate Technology Can Ruin Your Business
1. Instant Gratification
Due to technology, clients may expect super-fast responses and they have a need for instant gratification. When a client emails you or sends a text, if they don’t get a response within a few minutes, they might get irritated. This can be a big problem for your real estate business.
Of course, you can combat this with real estate technology. You can use an automated response to help ensure your clients know you will get back to them as soon as possible. this can help, but it can still be an issue when a client expects an instant or fast response and one isn’t provided.
2. Poor Quality Pictures
Sure, smartphones take pictures and they can take pretty good pictures these days. However, taking listing pictures on a smartphone isn’t a good idea. This can cause lower quality pictures compared to listings that have professional real estate pictures.
You cannot take just okay pictures for listings anymore. It’s important to get the best possible listing pictures to stand out. Using a professional photographer for your real estate listing is a great way to make sure you get excellent listing pictures.
It’s also possible to invest in a high-quality camera and learn how to take listing pictures yourself. With a few good photography classes, you can become a good real estate listing photographer.
3. Poor Reviews or Comments Can Destroy You
Everything online seems to last forever. This can be a big issue for real estate agents. If you receive a bad review or someone posts a bad comment on your social media, it can last forever.
It’s more important than ever to make sure you get good reviews. The best way to combat this issue is simply to take care of your clients to the best of your abilities. You should also make sure you get a ton of good reviews.
If you do get a poor review or comment on social media, don’t overreact and push out a bad response. This could make the review even worse. Respond in a calm manner and try to address the concern of your client.
It’s also important that you don’t just delete or ignore negative comments. Addressing these comments and reviews in a positive way can show others how good you are at customer service.
4. Becoming Over-reliant on Technology
Real estate agents often use applications and programs to make the process easier and faster. This might include using electronic signatures to speed up closings. However, if you’re not careful, this could become an issue for you.
When an issue comes up and you need to change something, after collecting signatures, you might erase important information. Be very careful of this as it can cause a huge issue at closing.
Make sure you don’t become too over-reliant on technology. When you use technology properly and you still know how to do things without technology, you can keep your business running smoothly.
5. Convenience Has Pros and Cons
Real estate technology can certainly offer convenience. You can set up automatic listings to share your properties with clients. It can help you reach leads often and turn them into clients. However, these conveniences can come with some issues, if you don’t use the technology properly.
Something as simple as not removing someone from an automated property update can cause issues. They might be under contract on one property and scheduling listings on another. Make sure you know the pros and cons of any real estate technology you plan to use and that you understand how to properly use it. If you know the technology in and out, you’re less likely to make mistakes that can cost you. Make sure you also understand the good and the potential bad, of any real estate technology.