Friday is finally here and we’re looking forward to a little rest and relaxation on this long weekend! This week, we wanted to take some time to reflect on how technology is constantly evolving and changing the way we all do business.
It’s hard to imagine life today without the help of technology. Georgia Tech Professor, Ashok Goel, created an Artificial Intelligence Teaching Assistant to help respond faster. It is faster and responded 97% accurately to student inquiries. We’re not sure this was better than the human response rate but we are extremely impressed. This can be mirrored in the Real Estate market by considering how fast and valuable a follow-up conversation can be with a lead. Keep in mind the client experience and the content value when you’re getting in touch with leads, and consider these questions when targeting your customers.
Predictive analytics can help you gain insights and information about homeowners that you wouldn’t otherwise be able to know. It is its own form of artificial intelligence that can help narrow your focus on what will happen in the future. These insights help focus your decisions on who you can market to and what content you can provide. Listen to Brad Inman and Celeste Starchild talk about developing technology in his “Unlisted” series.
Inman’s "broker vs. bot" challenge shows the value of having a Realtor help you choose a home. “Robots” can help with the process, but have setbacks like being unable to walk the neighborhood, door-knock or prospect. Realtors are able to connect on a personal level, and share their local market knowledge to play a vital role in finding buyers the perfect home.
Of course, when it comes to technology you have to think about millennials, a generation that grew up surrounded by electronics. They spend a lot of time on social media, are more open to communicating via text message, and love blogs. When marketing to them, you can show off your personality online. Keep in mind though, since they grew up through the market crash in 2008, building trust is still key with this tech-savvy group.
May you enjoy a wonderful, reflective and relaxing Memorial Day!