Cold calling potential customers in real estate is quickly becoming an old and wasteful practice, InsideSales.com discovered that only 5 – 10% of those contacted pick up the phone. To combat this trend, connecting to a fruitful market these days may require an intimate understanding of their needs.
The real estate market in Europe will see a difference in priority this year, “from real estate as a financial asset, to real estate as a product and more significantly, to real estate as a service,” according to Price Waterhouse.
With that in mind, considering the ‘industry as a service’ could mean disrupting the traditional model and aligning with customer service more than ever before, many firms are moving forward into the future by adapting this focus into emerging technologies. In some instances, even removing the need for a human agent entirely and creating a custom and seamless experience specific to a user.
London-based online platform Purple Bricks offers the full services of a regular brokerage for a flat fee of around £2300, allowing a lead to either sell, rent or buy a property from beginning to end, all online. To do this, Purplebricks offers features such as professional photography, a 3-D virtual tour, plus listing the property on all real estate websites.
This strategy goes hand in hand with the results of a recent survey conducted by CEB (Gartner) Global which discovered that 57.7% of customers want to do things themselves. Additionally, If they run into an issue that they are unable to solve and reach out to a company, 59% hate being transferred more than once by a customer service line.
A Change In Tactic
Cumulatively, it seems that what a real estate customer wants from their contact experience is a personal, yet fast process. The statistics support this, when real estate firms text their clients instead of calling them, they see 90% of those contacted both opening and responding to texts within 5 minutes.
The right software can also be a game changer, finding the right tech that can segment a database by customer demands and allow the agent (whether virtual or flesh and bone) to know precisely who they are talking to could put a dent in high call abandonment figures.
“In general, the real estate market is being disrupted by many people, and I think that many of us, as a company, we expect a lot. We are going after the same war,” PurpleBricks US competitor Reali CEO Amit Haller said to CNBC. “We want to change things for the consumer.”
Changing consumer experiences doesn’t necessarily mean throwing out the old model. It’s more about integrating new technology that can adapt to the needs of your buyer base. In this climate, what customers need more than anything is an easier route to attaining a property, with clear communication through the whole process.
Via: PWC Global, BoomTown!, CNBC, CEB(Gartner).