We all live in a world dominated by smartphones. Now more than ever, consumers increasingly rely on their mobile devices for shopping, research, banking, and much more. With 85 percent of U.S. adults also being smartphone owners, industries that don’t adapt to a mobile-first world will quickly fall behind.
So, what has technology changed for residential real estate?
Changes in Client Behavior
According to the National Association of Realtors (NAR) 2021 Real Estate in a Digital Age report, agents are still the most widely used source of information during a real estate transaction. While agents remain the leader, mobile devices and tablets were the second most prevalent source of client information.
Data presenting mobile devices as the most frequent sources of real estate information is growing in significance, potentially at the expense of agents. Compared to data collected by the NAR in 2016-2017, the 2021 report shows agents’ lead over smartphones and mobile devices diminishing. In 2017, 92 percent of respondents reported agents as their most frequent information source, which fell to 87 percent in 2021. Meanwhile, mobile websites and apps grew slightly from 72 percent to 76 percent over the same period.
Searching for homes to buy on mobile devices is becoming more common as well. The NAR reported that at least 58 percent of all home buyers found their future home on a mobile device.
While agents are still the most valuable source of information for buyers and sellers, mobile devices and mobile-first realty tools are playing an increasingly important role in how clients are searching for and consuming information throughout their home buying experience.
How can ListedKit help your clients?
With clients increasingly relying on mobile devices for information during their transaction, ListedKit offers agents a customizable, low-cost interface for full visibility into the progress of their entire transaction, from contract to close.
When clients log into ListedKit, they can view an overall progress bar as well as upcoming tasks labeled for either them or their agent to complete. They can also view, download, and save documents generated throughout the course of their transaction.
Clients can also access a list of vendors ranging from lenders to painters, electricians, and other home service providers – all curated by their agent.
Best of all, ListedKit was built first with mobile in mind, providing an exceptional customer experience for the way clients are increasingly interacting with the home buying and selling process.
Changes in Agent Behavior
Evolving technology has changed real estate for agents as well.
According to the NAR’s 2021 Real Estate in a Digital Age report, 96 percent of agents have embraced smartphones in their day-to-day work, noting the leading uses for email (95 percent), social media (57 percent), and GPS (49 percent). According to the NAR’s last Realtor Mobile Usage report, 85.3 percent of real estate agents reported that mobile devices were very important to their process.
Agents have been using MLS systems for decades, and the data backs this up. The NAR reports that 63 percent of agents engage with the MLS daily. However, less than half of agents are regularly using electronic tools for contracts, e-signatures, and transaction management.
Looking at the tools on the market today, many options aren’t optimized for agents on the move. Some agents have even admitted that they prefer to use these tools on their desktop because the mobile solutions are cumbersome and ineffective.
How can ListedKit help agents?
ListedKit is a tailored realty tool built for agents in a mobile-first environment. This means that every aspect has been designed from the ground up to make managing transactions easier for agents on the go.
Agents can see a quick snapshot of their upcoming tasks, review tasks completed by clients, and easily send documents to other parties in the transaction. ListedKit gathers all transactions in progress in one place so agents can make updates, invite and onboard new clients, and customize their workflows to make sure that all of their transactions are on track – all from their smartphone or tablet.
In an increasingly mobile world where technology has changes real estate, ListedKit provides quick visibility and peace of mind for agents and clients alike, from contract to closing. With so much information at clients’ fingertips, agents can reinforce their value while ensuring a superior customer experience and future referrals.
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