A much needed technology shift in the real estate industry
There are many reasons for a real estate developer to turn to a digital solution, especially in order to improve sales and marketing strategies. In fact, this is exactly what Onyx Technologies offers with its software, which is not only aligned with the current and future real estate market, but also includes diverse high-quality services that greatly ease the process of selling projects.
First of all, it is important to mention that for some time now, online sales have become very common, if not inevitable. Indeed, over the past year in particular, there has been a major transition in our consumption habits and our short and long term purchasing experiences. It is also obvious that with the technological breakthroughs we are witnessing today in many fields, real estate developers will sooner or later have to face this reality. In short, although full digital sales have been around for quite some time, they are about to become a necessity in real estate.
Of course, in order to effectively switch to a digital platform, it is first and foremost important to have a partner on which you can rely in order to ensure a proper implementation of the suggested tool. This will allow, amongst other things, to fully capitalize on its potential, especially in terms of sales and marketing strategies. And once everything is well implemented, it will be much easier to get rid of the seemingly familiar outdated methods, as the new ones will have quickly proven themselves.
Some technological practices that make real estate sales easier
For a real estate developer who is willing to make such changes in his practices, a custom-fitted digital solution is the perfect choice, as it will allow his entire team to better integrate and manage the marketing and sale of a project. Moreover, whenever needed, it is possible to incorporate various external technologies deemed complementary, with the aim of speeding up the sales process in any way possible. For solutions based on the Salesforce platform, we can see how prevalent this practice is by looking at the dozen thousand applications on the Appexchange.
- 3D project presentation tools
As mentioned earlier, a great CRM and digital sales tool uses various external sources to further enhance their product. For example, SmartPixel, a company that Onyx works closely with, can now offer virtual presentations to draw the attention of future buyers to fully digitalized real estate projects. These presentations show different aspects of the projects such as floor plans, interior renderings, available units and many other interesting elements for potential buyers. The experience itself is really impressive, almost as if you were there, starting from the interior of the unit to the view available through the day and night windows.
- Guided Virtual Tours
Virtual tours are also key, especially in the post-COVID-19 world, allowing future buyers to remain in the comfort of their own homes while enjoying a complete and in-depth tour of a real estate project they are interested in, in real time. Being able to interact directly with a project representative increases the customers’ sense of comfort, which is essential when buying a new home. Of course, there is still the option of conducting on-site visits for a more comprehensive experience, but this gives the buyer the opportunity for an initial screening, which is particularly valuable these days.
- Virtual project launches
The virtual aspect can also be useful for project launches. As a matter of fact, a person can now attend this kind of event from home. They can, among other things, participate in the VIP launch event, interact with representatives of the project and most importantly, reserve their unit completely online by putting a deposit on it. In this regard, it is possible, based on a demographic database created by a prior data collection, to send automated and customized invitations in order to attract a more targeted clientele to this type of event, by sending them completely personalized communications, on any channel, in an automated fashion.
- Automated Virtual Buying Process
In order to reach their sales goals, real estate developers need to have a well-organized procedure to keep control of their virtual buying process. If they want to keep demand high and sell as many units as possible, there are three simple ways to match them to different potential buyers:
- Broker Requests: This is handled directly between the sales team and the real estate agents. The latter receive promotional material from the developers announcing the launch of a project. Through a portal specifically developed for them, the agents can express their clients’ interest if needed. Once all the interests are indicated, an algorithm will assign the units or floor plans to the different agents (often between 1 and 3 selections) and they will have to allocate them according to their clients’ purchasing criteria. This is why it is important for future buyers to properly disclose their needs to the person who represents them so that they can seize the right opportunities for them when the right moment comes.
- Unit Booking and Purchase Offer: This approach is for the more serious buyers who want to purchase a unit on their own. They can shop for a unit that corresponds to their needs online, on the project’s website, and reserving it simply by selecting it and making a deposit of a few thousand dollars through a payment platform like Stripe or Paypal. This usually takes place before the actual purchase of the property.
- Buy directly: this transaction is carried out, online, in just a few clicks. A customer can go to the project’s website, select a unit and find out if he or she is pre-qualified to purchase it. After verifying his identity and submitting the required documents, he will then need to virtually sign a contract to become the official owner.
Buyers need to feel included and well-informed during the entire buying process, especially when it is done remotely. With the use of Onyx technologies’ software, the clients feel safe as it guides them step by step through the entire transaction. As a matter of fact, with this platform, making an offer to purchase to be accepted is as simple and secure as doing it in person. Plus, when it comes to signatures, everything is automated thanks to DocuSign.
Clearly, each developer has his own purchasing process, which is why Onyx technologies always makes sure that their software matches the way they do things, up to the slightest detail.
- Integrate Live Chat on the project website
A great way of remain engaged with sellers is by adding a live chat feature to your website. Onyx integrates with the majority of such tools to keep a record of each conversation on the prospect’/client’s file.
It is important to point out that an internal policy must be established so that everyone is comfortable with the response times to customers. For example, some will want to reply immediately at any time and others will choose to send an automated message to ensure that a follow-up reply will be delivered as soon as possible. That being said, it is an excellent way to keep track of your conversations, which can be useful on many levels.
- Digital forms and registration cards at launches and in sales offices
To avoid all forms of manipulation and storing sign-in cards in sales offices, it is now possible to have an online pre-registration process. Onyx can easily automate the pre-registration process, either by asking the prospective clients for their information directly when they request more details about the project, or by sending them an email form prior to a scheduled meeting. By collecting personal data such as contact information, purchasing criteria, price range and/or unit preferences, meetings are much more productive for both the customer and the sales representative.
- Customize all messages, even automated ones
Sometimes the tiniest detail makes the biggest difference in a prospect’s buying experience. For instance, you can modify an automated email or SMS response to make it more personalized. This can be done in such a way as to gain the customer’s trust and make them want to proceed with the next steps. Onyx also recommends that these communications should be used to help guide the potential buyers throughout the process by introducing them to it and the following steps.
- Real-time monitoring of the sales team’s activities
For a real estate developer it is very important to keep all members of the sales team motivated and engaged. Onyx helps in this regard by providing our customers with a detailed overview of each salesperson’s activities, a follow-up of their progress towards their targets, as well as support tools to help with their duties. Consulting data in real time during sales management meetings allows all stakeholders to keep up to date on sales, to see the leading practices and/or to review their strategies if needed.
We hope you liked this paper! This is just a glimpse of what Onyx Technologies’ platform offers to enable your company with valuable technological tools for your future projects. Contact one of our representatives for more details!