Top 5 Reasons Why Your Brokerage Should Be Digital

Needless to say, the impact of the COVID-19 pandemic brought something more beneficial to many businesses and skilled professionals. Since they could not reach out to pitch their goods and services physically, they needed to find solutions to bridge communications. 

Thanks to the existence of technology, industries like real estate successfully adapt to the digital age to provide a better customer experience and drive significant business value. So, don’t be surprised if you could even negotiate to buy a house and lot in the Philippines online.

How Brokers Adapted to the Digital Age

Based on the existing Real Estate Service Act (RESA) law or R.A 9646, a licensed real estate broker can earn an average commission ranging from 2.5 to 5 percent of every property they sell. So, if a broker sold at least one (1) affordable house and lot for 2 million pesos, they can earn from P 50,000.00 to P 100,000.00 commission.  

By looking at these figures, working as a real estate broker can compensate for all your living costs if you sell more properties. However, you need to be more competitive in this industry because there is a growing number of brokers in the Philippines. To find prospects and sell properties, you need to shift to digital brokerage, just like other brokers do today.

Here’s what you can do with digital technology.

Join Networking Events Online.

Networking events are still possible in real estate, even during the pandemic. Many event organizers took this opportunity to hold networking activities online to keep updated with real estate trends.

So, why not join various networking events online to expand your digital reach and build connections with your industry peers? Choose events that are aligned with your target market or niche. Socialize as many brokers as you can to win more connections.

Register and Attend Webinars.

It is also essential to attend webinars and training sessions to learn new techniques, digital tools, and strategies to stay ahead of the game. Like other industries, real estate also transforms its selling and buying processes. That is why many experts offer relevant webinars and online training for agents and brokers to thrive in the real estate business.

So, expand your basic knowledge, connect with other skilled professionals, and discover new opportunities to keep customer expectations.

Leverage Digital Marketing.

While it is true that word-of-mouth and referral marketing is still effective, the perks of using digital marketing channels are unimaginable. People are shifting to online inquiry and shopping by gathering information from social media.

Therefore, maximize your reach by using various social media channels and digital marketing platforms. Others brokers take their specialties in LinkedIn and TikTok, so join the pack and create short yet engaging content.

Embrace New Technology.

The emergence of new technologies like drones and virtual house tours also opened many opportunities for many brokers. Using drones to capture stunning aerial footage of properties helps the buyer see the property's features. With virtual house tours, buyers can imagine themselves as if they were living in the said property, too.

Thus, utilize this new technology to provide an exceptional customer experience and convenience for buyers who cannot attend in-view meetings.

Take Advantage of Data Analytics. 

Fortunately, you can now quickly identify who your target market is. By using an analytic tool, you can incorporate data on your client’s behavior and market trends. As a result, you will have insights and determine where to focus your campaign and strategies to win a client.

Hence, embracing such technological innovations help you save time and effort to persuade potential clients to buy the affordable house and lot for sale units.  

Digital Transformation Mistakes to Avoid for Brokers

About two-thirds of all businesses believe digital transformation can keep their business competitive. It is even tagged as the hallmark of some independent insurance broker agencies. However, only a few are unaware of its downsides, and real estate brokers are no exception.

Let us explore the most common mistakes that every broker should know.

Thinking digital technology is all the same

Many professionals assumed that once they implemented changes using new technologies, it was finished. Keep in mind that technology is constantly evolving. Although they are designed to help you, it also changes their course as needed. That is why attending training sessions consistently is important to keep up with the trend and tools.

How brokers “adopted” to the digital age 

Transforming your approach digitally means different things to other industries. It may be an easy process for them, but it’s quite a complicated process for you. Therefore, don’t try to replicate what others are doing because it may not work for you. Otherwise, it makes your strategy more difficult to understand. So, be sure you have a clear goal first and create realistic marketing ideas and business models.

Using new technologies for a “big bang” approach

Some brokers also believe that they will tackle everything at once to reach their target. Always remember that clients today are much wiser and smarter. They already know the market once they engage with a specific product or service. 

This only means that giving them too many marketing pitches can upset them. As a result, Hence, it is still recommended to test the waters first. Identify which technology provides potential results and focus on it.

Undoubtedly, digital technology enhances a broker's ability, especially during uncertain times. But, it would be ideal to use technology to improve your talent and skills as a broker instead of depending on it. There is still expertise that cannot be replaced with technology, such as your reputation and character. No matter how expertly you use digital technology, you can never win a client without a proven track record and charisma.

In Lumina Homes, our team of agents and brokers are not only experts in digital technology. They also understand the need of every homebuyer. That is why we offer a selection of affordable housing packages fit for minimum-wage income earners, OFWs, millennials, and retirees. We also made sure that our residential communities are worth living for. So, we provided a well-balanced neighborhood where you can enjoy comfortable living even during your twilight years.

Do you want to know more about properties? Talk to our Lumina-accredited sellers and licensed brokers near you. Rest assured, this can be an investment you can treasure for a lifetime.