RANCHO CORDOVA, CA—According to the NAR home buyer and seller generational trends report 2017, 89% of Boomers and 99% of Millennials search online for homes. In other words, every generation of buyer and renter expects some sort of digital engagement, and builders and owners are finding the right tools to meet those expectations.
In this exclusive, Lisa Meylor, marketing manager for Computer Presentation Systems/CPS, discusses the three main ways developments can create better sales and marketing strategies using technology. CPS offers cloud-based CRM, automated sales, scheduling, warranty and customer service solutions for the real estate industry in real-time data.
GlobeSt.com: How has technology software in the homebuilding industry changed during the past 10 years?
Meylor: When our first new home sales CRM software launched in 1985, builders were at the early adoption stage of sales automation. Fast forward two decades, and builders had fully adapted to using CRM software. However, there were few sales and marketing digital solutions focused on enhancing the customer experience directly in the sales office. In 2007, CPS introduced an interactive touchscreen system called SalesTouch to fill that void and start meeting the growing demand.
Today's touchscreen digital technology appeals to single- and multifamily builders because it provides an opportunity to engage home shoppers with interactive content unique to their brand. And, providing an interactive experience helps differentiate them in the market. Just a decade ago, floorplans were displayed on large touchscreens in much the same way they would be displayed in a printed brochure. Today, home shoppers can mix and match structural options to create the floorplan of their dreams, place virtual furniture to imagine living in the space and even save their customized plans to view later. Incorporating virtual tours and videos of homes and communities further enhances the experience.
GlobeSt.com: What are the top trends in technology software available to builders today?
Meylor: Multi-sensory experiences, or technology that sparks engagement using images, sound, touch and movement are one of the top trends we're seeing in technology software today. These experiences engage home shoppers from the moment they enter a sales or leasing office with greater enhanced interactivity. Examples of this include the interactive touchscreens that get home shoppers directly involved, and social media digital walls that allow builders to not only leverage their social efforts but to communicate and amplify their brands in an engaging way.
Virtual tours are another top technology trend that can be incorporated into other technology platforms like websites and touchscreen presentations. We're also seeing increased interest in self-serve registration stations and tablets that tie visitor information directly into CRM systems for immediate follow-up by sales agents. Virtual reality is also getting some attention, but time will tell if the cost of this cool tech has staying power.
GlobeSt.com: What role does technology play in the sales and marketing of new home or apartment communities?
Meylor: It plays a huge role. Emotional aspects of the home shopping journey have stayed the same through the years. What's changed is the way people shop for homes. Technology today has a two-pronged role: to enrich the home shopping experience, and enhance sales and marketing efforts. In addition to engaging on a deeper level with buyers, technology lets builders tap into buyers' emotions through storytelling, and can help personalize and customize the buying experience.
Technology acts as an assistant to sales and leasing agents as it encourages home shoppers to find solutions themselves. This includes interactive floorplans that help buyers create a customized plan, or real-time availability that helps apartment shoppers find an available unit. In a nutshell, technology provides a richer experience.
GlobeSt.com: Are Baby Boomers embracing technology as part of the home buying process?
Meylor: Absolutely. The NAR report stat might be surprising to some, but proves that today's 55-plus consumers are far different than those from past decades. Beyond Boomers, every generation of buyers today expects some sort of digital engagement. By the time a Millennial, Gen Xer or Boomer buyer walks into a sales or leasing office, they're already well into their home shopping journey. It's important to provide an onsite experience that's a natural continuation of that journey.
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