Estate agents need to embrace technology

© Alena Saklakova via 123RF

This can be achieved by way of instant access to powerful online marketing tools, such as social media, current market statistics, digital imaging, price trends and comparisons, home features and suburb-specific profiles.

Consumers want an easier, more streamlined, route to market, given that they now have instant online access to a wealth of information without the assistance of an intermediary and this will remain so, as information technology continues to roll out in the South African homes market of the future.

However, successful home selling is, and will remain, essentially people-driven – with an experienced estate agent playing the pivotal role. The home buy/sell process revolves around myriad factors, including personal relationships; skillful negotiation; awareness of market nuances and sentiment; knowledge of neighbourhood lifestyle dynamics; maintenance of links with buyers and sellers; monitoring of planning and re-zoning trends; as well as keeping abreast of the needs of suburban individuals and families.

However, estate agents who cling to the traditional template of real estate marketing could lose momentum as the digital transformation erodes their competitive edge. Furthermore, as information communications technology continues to roll out in South Africa, it will keep changing the way real estate marketing services are delivered.

It will also continue to alter the shape of the traditional business models used by legacy estate agencies – and estate agents should welcome the process rather than fear it.

On the corporate front, South African real estate companies that subscribe to this game-changing digital phenomenon will be more productive and successful than less technologically driven competitors.