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Oh, Where Technology Will Go

Technology, millennialsEven though it’s only five years from now, predicting what will be important marketing wise in 2022 can be a challenge. Technology and particularly what the emerging millennial generation finds important changes, in what seems like, every week.

According to the latest Imprev Thought Leader Survey, real estate leaders don’t really know which technology will lend them the highest ROI in 2022, either. Many think the best bet is to take a step back from new technology and stick to what has been proven to work.

Though 50 percent or more of all agents surveyed agreed that emerging technology will be important to real estate brokerages by 2022, only 30 percent or more said they would be likely to invest in it. These technologies included predictive analytics (74 percent thinking it’s important and 65 percent willing to invest), big data (72 percent, 64 percent), marketing automation services (67 percent, 65 percent), augmented reality and virtual reality 3D tours (60 percent, 46 percent), and artificial intelligence such as chatbots or automated virtual assistants (50 percent, 30 percent).

“I don’t believe the relationship will change drastically,” David Marine, Coldwell Banker SVP of Marketing said. “Agents will still act as ‘guides’ to informed consumers to help them through this process. Just the way the agents are discovered, engaged and [how they] build these relationships with consumers will change. The agent ultimately ‘owns’ the relationship but how it’s started, grows or continues can impact brands, brokers, etc.”

The survey showed that agents would like to see innovation such as virtual tours and virtual reality by 2022. Though there are similar technologies around now, one agent would like to see it more refined to allow for the agent to walk the buyer through the home, answer questions, and maybe even see each others avatar while being in separate places. Others wanted to see more simple things like easier access to agents’ databases without actually needing to import to their own database.

“Agents get very nervous that we’re trying to steal their customers,” the anonymous survey responder said. “If we could manage without actually having these databases, agents would be more willing to allow us to assist them in doing it the right way.”

About Author: Brianna Gilpin

Brianna Gilpin, Online Editor for MReport and DS News, is a graduate of Texas A&M University where she received her B.A. in Telecommunication Media Studies. Gilpin previously worked at Hearst Media, one of the nation's leading diversified media and information services companies. To contact Gilpin, email brianna.gilpin@thefivestar.com.
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