How real estate agencies can successfully implement digital transformation within their organisations
- The digital transformation effort is most effective when it is embraced at different levels of the organisation, with support from different departments
- Companies need to reassure agents that technology will complement their work, giving them more time to nurture clients
The ultimate success of technology is determined by how well organisations present and adopt it from the get-go. For agencies to see a tangible return on their digital transformation efforts, they need to create a holistic digitisation strategy that incorporates new digital work practices into the processes, workflows and, most importantly, the overall culture of the company.
Developing a companywide digital culture is of utmost importance for a successful digital transformation. This effort is most effective when it is embraced at different levels of the organisation, with support from different departments.
For example, it is the chief information officer’s role to spearhead and implement digital strategies to engineer the transformation. The chief marketing officer can assist in this process by optimising the digital branding of the company and helping agents personalise the customer experience.
For best results, organisations must consider how they can actively involve agents throughout the transformation. If agents participate in the strategy by identifying ways to digitalise common workflows and enhance their capabilities, they will gain valuable understanding on why the change is happening and will be more likely to accept and adopt digital transformation.
Organisations also need to reassure their agents that technology will complement their work, allowing them to have more time to nurture clients, rather than replace them entirely. To further shore up take-up rates among agents, organisations should engage early adopters and influencers so they can become change advocates and help solidify the digital culture within the company.
Agents can be sceptical of the usefulness and impact of technology despite being involved in the process of transformation. This is where the right technology can make a difference – systems that are user-friendly can help break the barrier of scepticism and encourage agents to embrace new working methods.
Choose technology that makes agents’ lives easier and help them view the technology in action through comprehensive training and getting them on board. Once agents understand how the technology will vastly improve their day-to-day work, they will be more likely to support it.
Given the importance of user-friendliness and ease of access for agents, organisations can widely benefit from a one-stop shop software that consolidates all essential real estate-associated functions into one platform – lead generation, customer profiling, advanced digital marketing, and more. By choosing a solution that is flexible, scalable, and intuitive, you can get even your most discerning agents on board.
When choosing digital technology for real estate, there are three key questions to be asked:
Does it give time back to agents? The technology should automate the tedious administrative work of data-entry and data lookup, so that agents can spend more time closing deals.
Does it help agents nurture clients better? The technology should provide features such as selling and marketing tools to enable them to easily keep track of client information and communicate with them.
Does it increase conversion rate? The technology should boost conversion rates by providing advanced algorithms that optimise client-listing matches and generating data-driven insights for agents to make well-informed predictions on client preferences.
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The work does not stop after choosing the right technology. The roll-out, implementation and follow ups on this crucial transformation are just as important.
Organisations need to welcome technology in a holistic, integrated way to ensure effective and long-term companywide adoption and support. Agencies should examine their operating model and how multiple facets of their business, from sales to marketing to customer service, can be orchestrated to maximise the impact of the technology, help deliver an unparalleled customer experience, and boost conversion rates.
It is important to generate buzz around new technology by internally publicising the quick wins of implementation, rewarding early adopters, and fostering a culture of continuous feedback with fair metrics to measure activity and adoption.
The goal is to make the incorporation of new technology smooth, effortless and even fun for agents. Ultimately, the right real estate technology, when implemented properly, will empower agents and allow them to do their job better, faster and smarter.
Justin Lau is chief executive officer of global real estate platform Property Raptor
