The real estate industry, like many others, is feeling the impact of the pandemic. It's been hit hard,
particularly in the commercial sector, where offices and retail spaces are struggling. Meanwhile, in the
residential sector, the pandemic has sparked a shift in demand towards properties in the suburbs as
people seek to avoid the cities.
To adapt to these challenges, the industry is turning to technology, with increasing adoption of real
estate communication software. The question is, will this help the industry become more viable?
To find out, let's dive into some interesting statistics.
When it comes to the real estate industry, statistics can give us valuable insight into the current
business landscape. Here are some numbers to help you grow your real estate company and improve
your marketing strategy in this ever-changing field.
In 2021, the U.S. real estate market reached 6.1 million closed transactions, the highest number of
sales since 2006—a jump from 5.6 million in 2020. There was a slight decline in activity in 2022, and
transaction volume is expected to drop further to 5.1 million sales in 2023. This trend is driven by
record-high mortgage rate increases due to high inflation.
As studies reveal, 89% of homebuyers who collaborated with an agent also searched online.
Therefore, it's essential for your brand to have a strong online presence, which can be achieved by
an effective marketing strategy and robust real estate software tools.
According to the National Association of Realtors, searches for real estate on Google have risen by
253% over the past four years. So, it's crucial to optimize your website with the right keywords and
relevant content to attract potential buyers.
Last year, the National Association of Realtors reported that the United States had a record number of
real estate agents. Over 156,000 people joined their ranks in 2020 and 2021 combined—almost
60% more than during the previous two years.
And this year, many more are expected to join. Google search trends indicate that “how to become
a real estate agent” was the top job-related search for the last two years through 2023. So, it's safe to
say that the property industry is booming, and this trend will continue.
90% of customers rate prompt responses as essential or highly significant. More than half of them,
60%, define “prompt” as a reply within 10 minutes or less. Clearly, property buyers expect quick
solutions, which puts tremendous pressure on customer service teams to provide immediate real
estate communication and handle their requests efficiently.
Thanks to technology, companies today are expected to reply to their customers immediately. This is
especially important in the property industry, where efficient communication can make the difference
between closing a deal and losing a client. In this section, we'll look at some stats on real-time
communication in real estate.
Nearly 90% of potential homebuyers now rely on online searches to find properties. Interestingly, out
of this group, around 30% prefer using mobile phones for their searches. This emerging trend
provides a compelling reason for real estate agents to leverage instant messaging platforms to attract
additional customers each month.
Studies strongly suggest that real-time communication channels, such as live chat for real estate,
result in a 73% increase in customer engagement compared to traditional methods.
Surprisingly, only 9% of agents currently use this tool on their websites.
Discover the advantages of real-time communication apps in the real estate industry. From faster
response times to improved customer engagement, this section explores how leveraging these tools
can increase efficiency, satisfaction and success for real estate professionals. Here are the key benefits
of real estate communication tools:
Real estate communication apps enable 24/7 contact with potential clients, fostering quick
idea-sharing and problem-solving. It ensures reliable interaction and improves productivity for agents.
Over 79% of customers prefer real-time communication for personalized experiences and instant
responses to their questions, adapting to their needs and preferences.
By using real estate communication tools, you can create a lead generation system that turns website
visitors into potential buyers. Companies using live chat on their website generate 40% more leads.
Real-time messaging offers a personalized and interactive approach to communication, greatly
enhancing client engagement. Agents can leverage advanced real estate tools like a digital assistant
to send tailored messages, share property photos and even provide virtual tours, creating a more
immersive experience for their clients.
By automating call processing, eliminating post-call tasks and reducing the need for callbacks,
companies can achieve substantial cost savings in their operations. In fact, implementing real estate
chatbots alone can lead to a remarkable 30% decrease in customer support costs. This efficiency
transforms into the ability to handle a higher volume of interactions without requiring additional resources.
In this article section, we explore a selection of innovative tools that can revolutionize the way you
connect, collaborate, and succeed in the dynamic world of real estate.
Video conferencing real estate tools offer a complete package, empowering homebuyers to take
control of their digital real estate journey. With user-friendly scheduling features, clients and prospects
can effortlessly arrange meetings at their preferred times.
With this real estate tool, agents engage in real-time conversations with potential buyers who are
currently on the website. This instant connection enables them to address various questions, provide
personalized assistance and guide clients through their property search journey.
All-in-one mobile applications offer a comprehensive suite of real estate tools and functionalities
designed for businesses, including home-buyer apps, native apps, custom-branded apps and more.
Equipped with advanced search, share, and location features, this software streamlines the work for
agents, property owners or homebuyers based on their unique needs and goals.
In a cutthroat property market, the importance of real estate communication apps cannot be
underestimated. The bare statistics presented in this article clearly highlight the advantages these
solutions offer to companies that want to remain competitive.
By adopting such tools, you can greatly improve your
communication strategies, resulting in faster response times,
stronger customer engagement and higher overall satisfaction.
If you're ready to build communication software for real
estate teams to drive new revenue channels for your
business, don't hesitate to contact us!