6 Tech Challenges Facing Remote Real Estate Companies

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Due to the coronavirus pandemic and remote working conditions, any business looking to adapt to new challenges has had to embrace new technologies. This led to the need to train employees and establish remote work policies that had never been used before.

Of course, this type of transition is never easy for a company to bear. In real estate, for example, companies are expected to quickly adopt new tools and maintain an online presence. But these same businesses face a number of hurdles in becoming fully remote-ready businesses.

Related: Real Estate Is Far Behind Tech. Here's why and how to fix it.

1. Slow adaptation period

This is a common challenge for different companies trying to innovate quickly. Real estate companies have always been slow to adapt to new technologies. However, technology has won out as solutions have become much easier to adopt. Thus, commercial real estate companies are able to introduce new technologies into their processes and continue to innovate. Although technology is changing rapidly, real estate companies must learn to adapt quickly and not be afraid to spend additional capital to do so.

2. Implement technology and understand how to use it

You can invest in the most innovative and powerful software, but it will only have an impact if your team adopts it for daily use. As a leader, you will need to dedicate time and resources to ensure that your business understands the software and uses it for all necessary purposes.

Another issue with technology adoption is identifying software and systems that are compatible with individual devices and work styles. Some employees may get used to their previous technology pack, and switching to a completely different pack can be distracting or even affect productivity. Video tutorials are a common need in such cases.

Plus, there are tech solutions, like those that allow homebuyers to conduct their own viewings without a real estate agent. These technologies save buyers from having to pay someone to drive them. For small businesses and small businesses, this type of app can be detrimental to business. Their employees should focus on creating a personal touch.

For larger transactions, the outcome is often positive as it reduces the number of hours it takes for both parties to reach an agreement. Keeping the balance of technology use with the customer for the right amount of time helps close the deal.

Related: The Shift from Physical to Digital: Technology is Transforming the Real Estate Ecosystem

3. Work with clients accustomed to paper-based workflows

Real estate companies deal with a variety of different documents and in large volumes. Old-school clients may ask you to print out all the necessary paperwork and drive them around town to get a signature and close the deal.

Despite the fact that some of your customers find it much easier, these old-fashioned methods of closing deals can end up costing your company too much money and time. Informing clients about new opportunities should be standard practice for real estate companies. You can simply call customers or send them letters and video tutorials that explain all the steps they need to follow to perform the necessary actions on their end successfully.

4. Lack of face-to-face communication

One of the biggest downsides is losing personal contact with someone when you log in. But the introduction of technology does not necessarily mean the abandonment of human relations.

Building the ideal process not only means that established interactions with a team are comfortable, but also that new team members quickly understand different interaction scenarios. Any serious business success is due to the interaction and collaboration of many people. Live communication allows you to achieve mutual understanding much faster and understand the desires of employees. When you work from home,...