Real Estate Business Strategy Tips for 2022

by Emma L. Business consultant

Photo by Pixabay

Over the last couple of years, the real estate industry has experienced quite a lot of ups and downs most of which were related to the infamous outbreak of COVID-19. At the height of the pandemic in 2020, massive layoffs, labor shortages, and limited showings caused the market to experience a massive 33% average national drop.

Once the pandemic started slowing down and the economy slowly fell back into place, the real estate sector bounced on its feet quickly reaching the pre-COVID numbers. However, in the meantime, quite a lot of things have changed and the industry we have now is not nearly the same as the one we left in 2020.

Let us take a look then at a couple of useful strategies you can use to adapt to this new climate and turn it to your advantage.

Start using chatbots

The real estate industry is deeply rooted in personal interaction. But, before they decide to take a tour of some property, the audience likes to perform thorough online research. And this basic property scouting consists of nothing more than a bunch of simple online queries the present-day chatbots are more than capable of tackling. Over the last couple of years, chatbots have experienced a huge 92% growth and become one of the most popular communication channels. A large majority of the users have cited a positive experience with them so there is no reason to use them to tap into this audience.

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Automate whatever you can

The business world is rapidly moving in the digital direction and the things like automation and AI are gradually turning from novelty to an absolute industry requirement. And if we take a quick look at the benefits of workflow digitization and automation we can see why these trends are proving to be such a driving industry force. With the ability to leave scheduling, email marketing, and countless other time-consuming chores to the AI, real estate agents have an opportunity to use free time to create a more personal connection with their clients, engage in different, creative types of marketing, and so on.

Start reaching out to “unconventional” buyers

The COVID-19 completely turned the labor market and real estate market pool on its head. One of the most notable changes we have seen is a growing relevance of the remote workforce that makes the old real estate constellation almost obsolete and properties that were, due to their distance to business centers, not really sought out the main stars of the show. So, in this new climate, you can easily market comfortable Abilene apartments for rent to the professionals that were previously living in expensive downtown areas with far fewer amenities at hand. You only need to discover these unique pockets.

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Use social media to the fullest extent

Social media have long ago become the most preferable media outlet for the vast majority of consumers out there, so if you are not getting satisfying results from this channel, that only means you are not using it to the fullest extent. So, try switching the traditional platforms like Facebook for some more up-to-date alternatives like Instagram, Twitter (the new acquisition by Elon Musk should give the platform a new relevance), or even Tik-Tok. Also, try to make the interaction with consumers as interesting as possible. Posting content is not nearly as engaging as games, photo contests, polls, and other social calls to action.

Start putting out quality content

Content marketing was always one of the most effective marketing channels. Keeping in mind the recent lockdowns and time we had to spend looking at our screens in search of info and entertainment no one should be surprised that this specific platform remains one of the most intuitive and popular ways of reaching out to a new audience. Therefore, you should seriously consider putting out quality content in the form of YouTube videos, infographics, how-tos, and blog posts that should offer useful information to the people that are not still considering a purchase but may sometimes in the future.

We hope these few mentions gave you a general idea about the general direction of where the real estate industry is currently heading and how you can use these trends to develop tangible strategies that will help your company join the major league. Over the last couple of years, digital transformation and the outbreak of COVI-19 considerably changed the business landscape and the real estate industry is not the exception. The better you are aware of these developments, the stronger are your chances of success. Well, now you know where to start.