Real Estate Blog

Tag: Real Estate Technology

  • US Housing Market Crash: Why So Many Realtors Are Quitting

    The slowdown in the housing market, mostly caused by the COVID-19 pandemic five years ago, has taken a toll on real estate agents. The rising mortgage rates and economic hardships drove most potential buyers away from buying homes, causing agents, who live on commissions, to struggle to keep their businesses afloat.

    According to the Federal Reserve Bank of St. Louis, the number of full-time real estate agents and brokers was around 543,000 before the pandemic in 2019. That figure declined to 524,000 by 2021 and 512,000 by 2022. The decline accelerated in 2023 with only 440,000 agents remaining, and by 2024, that number dropped again to 398,000. These are the lowest levels since 2013, far from the over 504,000 agents at the start of the financial crisis.

    In addition to economic factors, AI is changing the real estate industry. More people are using websites and apps to buy and sell homes without real estate agents, the industry is being disrupted. Online platforms offering home valuations, virtual tours, and market analysis are becoming more popular and downplaying the role of real estate agents as intermediaries.

    Accordingly, the number of brokers and agents that are full-time has declined from its pandemic-era peak. Both regulatory reforms and tech disruption are responsible for this transformation.

    Adding to the pressure, dozens of lawsuits have been filed against the National Association of Realtors (NAR). NAR settled with plaintiffs in March 2024 for $418 million for complaints that it required home sellers to offer big commissions to agents representing the buyers under the “cooperative compensation” practice of NAR. NAR changed rules under the settlement terms that forbade sellers from including the offer of commissions for agents representing the buyers within the terms of the property for sale.

    Emily Oster, Founder of DALTX Real Estate, says this is part of a larger industry trend. “It’s the new era that agents have to be more flexible and focus more on niche areas,” she said. She cited the necessity for agents to leverage tools like AI for finding leads and processing transactions as the most vital tools for future agents.

    Real estate agents need to adapt and thrive in the changing real estate market. With so many property websites available now, sellers and buyers are increasingly able to find homes on their own, without needing an agent. Agents who don’t keep up with the changes will be left behind. Future agents will need to specialize in market analysis, finance, and developing strong negotiation skills. While the tech streamlines the transactions’ process, agents are still valuable trusted advisors.

  • Homestack vs. Custom Real Estate App Developers: Making the Right Choice

    Source: linkedin.com

    It has been said before that in the contemporary hi-tech real estate business, having a mobile application for your enterprise is simply imperative. An app optimizes use, and many operations if not all, and communicates with the client.

    However, deciding between an out-of-the-box solution like Homestack and hiring a custom real estate app developer is a critical decision that will impact your business’s growth and operations.

    Why Apps for Real Estate Are So Important for Your Company

    Real estate applications are powerful means that allow agents, buyers, and sellers to share experiences with little hitches. Some of the multiple features include access to propertied and its details, virtual tours, booking, and scheduling among others all offered conveniently through a mobile gadget. While Homestack offers a ready-made platform tailored for real estate businesses, working with a custom real estate app developer gives you the flexibility to create features unique to your needs.

    Homestack: A Ready-Made Solution

    Source: homestack.com

    1. Quick Deployment

    Homestack is a reference platform, and if you select it, then your app can be set up in a few hours or days at most. The foremost advantage of Homestack may have been the fact that it enables you to find a solution immediately without having to spend all of the time and effort that other sites demand out of you.

    2. Cost-Effective for Small Businesses

    Since there is not much that needs to be built, Homestack is a cheaper proposition than the Traditional architecture for the smaller brokers or those who do not have a lot of money to spend.

    3. Standard Features

    The three necessary components are property search, virtual property visitation, and contact with the agents or owners which Homestack houses. These may be good enough for most firms but can be less appropriate for customization, given the nature of micro-environments.

    Custom Real Estate App Developers: Tailored to Your Needs

    1. Unique Features and Branding

    Working with a custom real estate app developer allows you to design an app that reflects your brand and caters to your specific requirements. It also means that you can include several things, such as the capability for boosting some search operations or optimal property recommendations with the help of an artificial neural network together with the CRM system, built for your enterprise.

    2. Scalability

    With the intended growth of your business, custom applications are developed for use. Since the app belongs to your business, you can expand or enhance the app to meet new market needs and remain useful.

    3. Enhanced User Experience

    An app developed from scratch gives a nicely integrated user interface. Usually, developers can optimize the designs and the flow of work according to the preferences of a particular target audience, thus increasing the level of satisfaction of the latter.

    4. Long-Term Investment

    To make it less costly, a custom solution may be more expensive initially, but revenue in the long run can be much better. The app grows to be an exclusive value proposition that helps to set your brand apart and appeal to intelligent customers in the technology sector.

    Factors to Consider When Choosing

    • Budget: This will indicate the extent of investments, to be made in the present or the future.
    • Timeline: Determine the time frame for the app within which you want/need it to be launched.
    • Features: Determine for what kind of functions, out of the box or standard, your business needs.
    • Growth Potential: Think of what your future business objectives are and if the app aligns with them and can grow with you.

    Conclusion:

    Choosing between Homestack and a custom real estate app developer depends on your business’s specific needs, budget, and goals. That is,

    Homestack is great if you require a quick-and-dirty solution and don’t mind paying a lot more than you have to, you want the most flexible solution with maximum host scale and going to be around longer, custom development is the way to go.

    After that, make a personal judgment to find out which solution perfectly fits your ideal vision for your real estate business. Therefore, having a suitable app implies the possibility of enhancing how you deliver your services, reinforce your image, and compete in a fully fledged market.

  • Top 5 Marketing Tools Every Real Estate Agent Should Use

    The real estate industry is very competitive, so agents need to stay ahead with smart strategies. Effective marketing is key in this industry, making it essential for success. A good agent needs to keep attracting potential clients and turning them into actual buyers, all while maintaining professionalism and integrity.

    Now more than ever, doing business online is a big deal. Technology is playing a bigger role, making things easier and changing the game in real estate. With today’s marketing tools, agents can stand out from the competition, close deals faster, and connect better with their clients. Any agency can succeed if they’ve got the right marketing materials

    Here are five must-have marketing tools for real estate agents:

    1. Professional Real Estate Website

    Having a strong online presence is a must for a successful real estate marketing plan. Your website is one of your most important tools—it’s where people can check out your listings, learn about your services, and see why they should work with you.

    Here’s what makes a great website:

    • IDX Integration: Lets visitors search for properties right on your site.
    • Mobile-Friendly: Makes sure your site looks great and works smoothly on phones, tablets, and computers.
    • Content Marketing: A blog with tips, market updates, and home-buying advice helps bring in more traffic through SEO.
    • Lead Capture Tools: Features like contact forms, chatbots, and newsletter sign-ups help you gather leads.

    Platforms like WordPress, Wix, or Squarespace make it easy to design a clean, professional site that fits your style. Plus, having your own domain name makes your business look more legit.

    2. Customer Relationship Management (CRM) Software

    Real estate is all about building relationships and staying in touch. A CRM system is good for keeping track of contacts, leads, and follow-ups.

    Top real estate CRMs like HubSpot, Follow Up Boss, or LionDesk help you:

    • Organize client info and property preferences.
    • Track your sales pipeline and prioritize leads.
    • Send mass emails to keep clients in the loop.
    • Set reminders for birthdays, follow-ups, or important calls to strengthen client relationships.

    A good CRM lets you work efficiently without missing out on potential clients.

    3. Social Media Advertising Tools

    It is important to utilize social media sites such as Facebook, Instagram and LinkedIn to develop identity and get in touch with various people. Social,media add tools assist agents in aiming at the right demographics.

    For example, Facebook Ads Manager lets you:

    • Create highly targeted ads based on location, age, income, and interests.
    • Show listings using carousel ads, video tours, or virtual open houses.
    • Follow up on those visitors that are yet to be converted into customers.

    Instagram works well for sharing photos, videos, and client success stories to engage followers and build trust. With the likes of Hootsuite or Buffer, you can handle more than one account easily and plan posts ahead of time too.

    4. Vanity Phone Numbers

    Even with the emergence and popularity of digital marketing, vanity phone numbers are still very effective in branding and customer service. Vanity number is a customized telephone number which is normally easy to remember; for example 1-800-HOMES4U.

    Benefits of vanity numbers include:

    • Brand Recognition: A memorable number makes it easy for clients to reach you whenever they need your services.
    • Increased Calls: People are more likely to remember and use a catchy phone number.
    • Call Tracking: Many providers offer tracking tools to analyze call data and improve your marketing strategies.

    Companies like RingCentral, Grasshopper, and TollFreeForwarding provide vanity numbers along with services like voicemail, text messaging, and call forwarding.

    5. Real Estate Video Marketing Tools

    Using videos is an effective method of displaying real estate and drawing in customers. Property listings that incorporate videos experience much higher volumes of traffic and as a result increased calls or emails.

    Key types of video content include:

    • Property Tours: Guided tours showcasing a home’s best features.
    • Neighborhood Spotlights: Videos that highlight local amenities like schools and parks.
    • Client Testimonials: Sharing success stories is a great way to build trust with potential clients.

    Tools like BombBomb, Animoto, and Canva make it easy to create high-quality videos, even if you’re not a pro. You can also go the extra mile with platforms like Matterport, which offer 3D virtual tours—giving buyers an immersive experience of the property.

  • The Role of Technology in Real Estate Transactions

    We know technology has become very important in revolutionizing conventional transactions. From digital platforms to AI, every new innovation reshapes the way buyers and sellers communicate in a real estate transaction, especially with programs such as buy before you sell.

    Let’s dive in to discuss the key elements that make up this transformation.

    Digital Platforms

    Online markets and listing services reformed the new ways of providing a house view and availability. This network of services offers real-time information, customized notification, and glitch-free user experience that helps in finding the house of their choice more efficiently for buyers.

    Virtual Tours

    Virtual tours have restructured the face of the real estate industry with the development of virtual reality and 360-degree video. Buyers can now view homes from a distance, which will save time and enhance the process of decision-making.

    Data Analysis

    Real estate experts relied on big data and analytics in order to get close to an approximate understanding of buyer behavior, price dynamics, and market trend analysis. For this, CMA tools provide more complete property value details.

    Blockchain

    Blockchain technology has been revolutionizing property transactions with its guarantees of security, openness, and efficiency. It drives smart contracts that can simplify and automate many facets of real estate transactions.

    Mobile Apps

    For buyers and estate brokers, too, mobile apps have become so important. The applications contain mortgage calculators, property searches, and instant messaging, hence easing the entire purchase process.

    E-Signatures

    E-signatures have eased the burden of paperwork involved in real estate transactions. E-signature platforms enable the parties to digitally sign the documents, thereby eliminating the physical paperwork and streamlining the process of closing.

    Cloud Computing

    Real estate data is now maintained, accessed, and shared through cloud technologies that are changing everything. It guarantees protection and access from any point; therefore, perfect collaboration between brokers, buyers, and sellers is made possible.

    Artificial Intelligence

    AI-powered tools smoothen the process of real estate transactions in terms of efficiency and effectiveness. From forecasting the value of properties to understanding market trends, AI helps agents and investors make better decisions.

    Remote Work Impact

    Remote work has started affecting the trends of real estate; thus, more people now show their interest in those homes which provide facilities of workspaces at home. In sum, the trend affects the property demand and also changes urban development strategies.

    Cybersecurity

    Cybersecurity also prominently features, and agents are coming up with all sorts of solid policies that assure clients that the information is safe from potential hackers. Of course, there has been the rise of the iBuyer companies to help change how real estate operates-mostly in buy-before-you-sell transactions-because the selling really comes so seamlessly with those.

    Conclusion:

    Technology has made the process of real estate transactions easier, simpler, more transparent, and hassle-free for buyers and sellers in recent times. With the rise in digital technologies and more yet to come, the future of real estate will finally have to adjust itself to maintain competitiveness in the dynamic and technology-driven market.