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Technology & Real Estate - Why They Need Each Other

Whether you conduct business online or with more traditional bricks and mortar model, technology has changed the way most business is conducted. There is no doubt that real estate has benefited from improved efficiencies.


Think back to the days prior to online listings, virtual tours, and e-signing - back when your client needed to check the newspaper for real estate listings. Thanks to the internet and world class software and services for the real estate industry, brokers, developers, and property managers can run their operations for efficiently.


Real Estate & Technology -The Perfect Marriage


Technology is a critical component to the success of a real estate business. Staying up to date with the latest technological solutions allows real estate agents to offer a greater customer experience to potential clients. While the real estate industry has always offered flexibility and freedom, the internet has taken both freedom and reach new levels.


Many reputable real estate agents use transaction management systems to track all their real estate dealing and administrative tasks. From chatbots and virtual reality tours to push technology and property management software, these resources grant instant access to data. Additionally, they also increase productivity and efficiency by communicating with a larger number of clients at once.


The Power of a Transaction Management System


Implementing technology is essential for success within the highly competitive market of the real estate industry. The right systems can save time, increase productivity, reduce costs, and lead to higher profits. To stand out against competitors, real estate brokers must become technologically perceptive.


Just like your client's preferences, the real estate industry is constantly changing. To remain relevant with the changing scope of the real estate market, you need to be able to scale your processes in real time.  For example, your client does not want to take time off from work to sign their contracts on site within your office. Instead, they want to conveniently sign their documents from their computer. Those in the industry who continue to use documents and sign them in person will soon fall behind.


Implementing a real estate transaction management system, such asMasterkey Professional allows your staff and clients to:

 
  • Upload files, organize, and share files
  • Manage your contacts and leads
  • Manage your sales and leasing agents
  • Streamline sales and leasing processes
  • Organize and manage your property listings
  • Track all payments and commission
  • Plan, execute and monitor marketing campaigns
  • Integrate with leading real estate portals worldwide
  • Electronically sign contracts and documents
  • And more.


Don’t Forget Social Media


If you want your real estate business to remain relevant and stand out against competitors, you must commit to maintaining a strong social media presence.

Social media provides real estate brokers and developers with the opportunity to interact with their customers while simultaneously attracting new clients.


Social media also provides greater insight into the lives of your potential clients, such as their geographic location and their preferences. Moreover, social media platforms generate real estate referrals, as well as keeping brokers in the loop on the latest industry news, trends, and strategies. All of this a data is literally a few keystrokes away.


Virtual Reality Tours


Virtual Reality (VR) is one of the fastest evolving technologies on the market. In fact, VR and Augmented Reality (AR) are expected to generate $150 billion in revenue by 2020.


Thanks to VR, potential renters and home buyers are able to virtually tour properties any time of day and from any location in the world. Ultimately, this makes listings with VR capabilities open for viewing, 24/7; saving brokers, agents and clients time and money while simultaneously increasing efficiency and engagement.


Custom Real Estate Solutions with Masterkey


As technologies continue to evolve, you need to make sure you’re on the forefront of innovation. Whether you want to prepare for the challenges of your industry or you plan on growing your real estate business, Masterkey provides comprehensive, innovative and user-friendly software solutions dedicated to meeting all of your needs in the real estate business. From standard technical support to building custom solutions to meet your needs, our team of experts are with you all the way.


To find out more about how Masterkey can help your company, contact a member of our team for a live demo. We look forward to hearing from you.


Top Tech Trends for Real Estate Companies in 2018

The real estate industry is continually evolving, and innovative technologies are shaping the way real estate agents, brokers and developers run their businesses.


Here are just a few of the trends that are poised to shape the real estate industry into 2018 and beyond.


Real Estate Robots

 

Traditionally used by other industries for customer service, robot technology leverages a computer to engage conversation-style with a real person (i.e. text message or instant chat). As this technology continues to emerge as a robust customer service and real estate lead generation tool, you’ll begin to see an increase in chatbots throughout the real estate industry.


Chatbots and voice bots are programmed to answer consumer questions, with little to no delay. Not only do they keep customers happy, but they also free valuable time to allow agents and brokers to focus on other significant matters.


Chatbots can be programmed to respond to trigger messages based on specific keywords or actions. Additionally, real estate virtual assistants and voice bots such as Siri or Alexa can help you simplify your workload. They can perform tasks such as scheduling meetings, creating reminders and searching the web for property news.


Blockchain and Real Estate

 

Blockchain is all the buzz and shows unbelievable promise for the real estate market in 2018. Blockchain is a secure cryptography tool known for tracking Bitcoin digital currency. This innovative tracking technology has the potential to transform any record-keeping scenario, including real estate deals.


Essentially, blockchain is a public database or digital ledger that records all transactions. Blockchain also eliminates the need for a central verifying authority, such as a traditional bank. By eliminating the middleman, you can reduce legal fees and title-related costs while streamlining a more efficient settlement process.


Virtual Tours and Augmented Reality

 

Virtual Reality (VR) is one of the fastest evolving technologies on the market. In fact, VR and Augmented Reality (AR) are expected to generate $150 billion in revenue by 2020.


VR allows potential renters and home buyers to virtually tour any property, any time of day, from any location in the world. With VR tours listed properties are open for viewing 24/7. This allows brokers, agents, and clients to save money and time while simultaneously increasing efficiency and client engagement.


Additionally, AR apps can superimpose a computer-generated image of an object into the home setting, allowing potential buyers and renters to virtually decorate a space using their phones or tablets. This empowers brokers and developers to showcase the potential of an unfinished space using AR. Combined, the potential of VR and AR is unlimited.


Push Technology

 

While push technology has been around for years, it's becoming more popular as agencies continue to develop their own smartphone apps.


According to Kahuna Mobile Marketing, push notifications double retention rates and help prevent app uninstalls. Agencies can leverage push technology to send content alerts to a smartphone’s screen and other notifications to encourage users to engage with their app, generate leads, and much more.


Property Management Software

 

Comprehensive, innovative and user-friendly real estate management software empowers agents, brokers and property managers with the tools necessary to meet all of their needs in the real estate business. Real estate management software, such as Masterkey Professional, gives real estate professionals the power to manage their business online in real time.


With the right software, real estate professionals can:


  • Achieve and exceed sales and revenue targets
  • Streamline, organize, and manage business operations
  • Track, monitor, and analyze transactions and sales performance
  • Synchronize information between agents/brokers and property portal partners
  • Enhance data security
  • Plan, execute, monitor and track marketing campaigns
  • Save time and money through with improved financial management
  • And much more


Whether you want to prepare for the challenges of your industry or you plan on growing your real estate business, Masterkey provides comprehensive, innovative and user-friendly software solutions dedicated to meeting all of your needs in the real estate business.

 

To find out more about how Masterkey can help your company, contact a member of our team for a live demo. We look forward to hearing from you.


The Benefits Personalised Real Estate Software For Your Business

Personalised Real Estate Software by Masterkey

One benefit of conducting business in the age of technology is the ability to leverage innovative solutions to streamline your operations and increase profitability. However, you’re still on the fence when it comes to investing in professional real estate software solutions.

 

Many real estate businesses, property managers, and brokers never consider using professional software solutions for their businesses. And when they do, they make the mistake of opting for something right out of the box. More...


Are real estate agents still relevant? Hasn’t technology replaced them?

Original posted on Khaleej Times

With increased digitisation, the widespread deployment of artificial intelligence and massive disruption across traditional, age-old business models the world over, has the process of buying or leasing a residential or commercial space changed significantly enough to render real estate agents irrelevant?

It’s a question that has, doubtless, crossed the minds of agents pondering the future of their careers, and a significant number of property buyers and potential tenants – especially ones that have had unsavoury experiences that make them evaluate just how much value agents actually add to the proposition More...


What is VAT and what how does it affect my relationship with Masterkey?

VAT in the UAE is just around the corner and we are ready for it! It’s likely that you are also  preparing for full compliance as of January 1st 2018 so we’re here to help. Learn more about VAT below.

What is VAT?

Value Added Tax (VAT) is an indirect tax that is being introduced by the UAE Government, which will be payable by both business and Individuals.

When will the VAT go into effect and what will be the rates?

VAT will be introduced across the UAE on 1 January 2018 at a standard rate of 5%.More...


We've been acquired by dubizzle!

We're thrilled to announce that both Masterkey and Airlist have been acquired by dubizzle!

Listen to the announcement: Samer Abdin and Daniel Hart on Business Breakfast on Dubai Eye 103.8 talking about the acquisition and how it makes sense for both companies and clients.

 

Our mission has always been to equip the industry with technology to unlock real estate's potential and this is a huge step towards fulfilling that mission. More...


Working with Unrealistic Sellers

As an agent taking on new listings, do you frequently come across sellers that are insisting on a higher-than-market selling price for their apartment or villa? We've seen this trend to be especially true during slow market conditions.


Agents put a lot of time and effort on market research to establish a realistic selling price for a property. Sometimes its a question of trying to understand why the seller is insisting on overpricing his property. To gain their confidence, understand the seller's fears and show them the reality of the market.More...


What is Comparative Market Analysis?

Before putting a home on the market or listing with a real estate agent, savvy home sellers ask them for a comparative market analysis, also referred to in the industry as a CMA. This is the best method available to home sellers to learn about their home's current value.

Real estate agents conduct an in-depth analysis of a home's worth in today's market and recommend a selling price to the sellers. They take a look at properties that are currently listed and also those sold recently. The purpose is to find the highest selling price possible that will still make the home competitive on the open market. As illustrated below, properties priced properly lead to more viewings, which can attract higher priced offers and a quicker sale.

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Although reports can vary, from a two-page list of comparable home sales to a 50-page comprehensive guide, the length and complexity of the report depends on the property and the agent’s expertise More...


Masterkey connects agents to 60,000+ listings in open Multi-Listing System (MLS)

 

Masterkey users can connect their listings to appear in the UAE's first truly open Multi Listing System. Users can enjoy high visibility and a broad distribution of their listings. Connecting to the MLS gives users access to all of the listings in the market as well as advanced search features and powerful digital tools to keep them at the top of their game in an increasingly challenging market.More...


The 5 benefits of Masterkey email integration

 

Save yourself the hassle of switching between your email inbox and Masterkey and manage your correspondence more efficiently and effectively. Our new email integration tool is essential to efficient marketing, sales, leasing and management activities.More...