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Agencies that capitalise on technological trends popularised during COVID such as QR codes could edge out competitors, according to a proptech company.
Founder and chief executive of digital offer management solutions provider Propps, Daniel Bignold, urged the real estate sector to keep pace with technological developments and employ it in their offices.
For example, while the technology is itself not new, the COVID-19 crisis has spurred the wide usage of QR codes, which users can easily scan on mobile phone cameras.
As such, Mr Bignold said real estate agents could leverage the technology to, for example, enable property buyers to scan the QR code and receive information about the property history electronically instantly or place an offer on the property.
He said Propps allows buyers to scan the QR code at the property they are inspecting and place an offer.
“The agent can decide how and when the QR code is used. What we do recommend is that the agent prints off these QR codes and carries it with them to the open homes. If a buyer looks at the property and falls in love with it and thinks about making an offer, they can scan the QR code (which will direct the buyer to the agent’s website) and make an offer,” he said.
Alternatively, if agents speak to prospective buyers over the phone, they could send them a text message or an email with the QR code, he suggested.
“Leveraging technological tools could make the process easier and more efficient for all parties,” Mr Bignold said.
“It’s about looking at trends and figuring out ways to take advantage of them and stay ahead of the competition.”
While proptech organisations have been creating niche solutions in the recent past, the next phase of technological development could involve integrating them to provide end-to-end solutions for a more streamlined property purchasing journey, Mr Bignold said.
“I believe that we’re going to see more closely partnered integrations and even a consolidation of the industry, with certain companies buying up a few of these solutions and piecing them together in a more seamless manner,” he said.
“The idea is to have one central location for all property, buyer, and vendor data, with every interaction by every party centralised in one system that is easy to use and aligns with the agent’s workflows. The industry could also utilise artificial intelligence to not just present data but analyse it.”
Propps recently partnered with Settle Easy to connect buyers online to conveyancers if they have not appointed one but would like to when they make an offer on a property through Propps.
Find out more about how real estate agents can keep pace with technological developments at REB ReInnovate. Click here to secure your spot.
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