Why Video Conferencing for Real Estate is Still Necessary Today

The Growing Importance of Video Conferencing in Real Estate

Video conferencing in real estate is still a big deal, and it’s not hard to see why.

Picture this; you have a client who is relocating from another city or country but cannot visit your suggested properties in person.

You can schedule a video meeting to give a live virtual tour of the home, answering questions in real time. The client gains a deeper understanding of the space and can make a more informed decision without spending time and money on travel.

The world is also becoming more connected.

Real estate agents use YouTube, Instagram, and Facebook to build massive personal brands. Some agents now have strong reputations in particular niches, like luxury real estate, or in certain states, like New York.

Instead of working with agents in their neighborhood, state, or even country, clients want to work directly with those they know, like, and trust.

Video conferencing for real estate closes the distance gap, meaning that clients can consult with and hire agents in a virtual setting anywhere in the world.

Consumer behaviors continue to change and evolve, even without the previous pandemic handicapping interactions. Busy professionals want to purchase real estate but struggle to meet in person at each stage.

Even for those nearby, video conferencing allows agents to handle multiple stages of the transaction remotely, including price negotiations, contract amendments, and mortgage lender/attorney meetings.

Moreover, the real estate market remains highly competitive. Hot markets like Buffalo, Hartford Connecticut, and Richmond Virginia have low inventory and high job growth, increasing the demand for homes.

Buyers must move faster and be more efficient to land their dream homes. Video conferencing for real estate helps.

Successful real estate agents embrace and use video conferencing in their daily operations for competitive advantage now and in the foreseeable future.

Common Trends and Statistics

The data also points to the fact that video conferencing for real estate and business at large is here to stay:

• Since 2019, daily video conferencing has increased tenfold.
• 61% of workers attend all meetings on video.
• 76% of professionals believe video conferencing increases productivity.
• Younger clients prefer real estate virtual meetings and are more likely to use video conferencing.
• 86% of buyers use video to learn about a particular community.

Video conferencing has become the norm for adults of all ages, so many would expect or appreciate virtual options as part of the buying or selling experience.

Additional Benefits of Video Conferencing for Real Estate Agents

Video conferencing not only benefits clients but real estate agents too. In fact, REALTORS who fail to adopt video apps and similar tools in their standard operating procedures (SOPs) are working at a significant disadvantage. Some of the benefits include:

1. Increasing Productivity, Reducing Costs

Through video calls, REALTORS and clients can communicate faster, dissect documents and contracts more easily, and close deals sooner. Agents therefore become more productive and can handle more transactions monthly. They also save time and money commuting, reducing the impact of no-shows or sudden reschedules.

2. More Property Showings and Open Houses

You can mix virtual tours with in-person viewings. Imagine after an in-person property showing, you have a scheduled video session with 15 interested buyers on a live walkthrough. More leads can see properties without leaving their home or state. You can also have ‘virtual’ open houses, answering questions in a Q and A style afterward. Video increases the reach of agents and clients.

3. Stronger Client Relationships

Poor or inconsistent communication is one of the biggest concerns of clients, as it negatively impacts the buying or selling experience. Video conferencing makes it easier to schedule periodic calls and consults. Clients appreciate face-to-face interaction, even if it’s virtual. Stronger client relationships equals more customer satisfaction and referrals. Video calls create an omnichannel experience for clients.

4. Doubling as Content

A common saying in today’s marketing is, ‘Everything is content.’ Video conferencing tools allow the recording of sessions. Record a house viewing and share it on your business pages. Or with the permission of a client, you can share an interaction online as a success story, testimonial, or case study. Genuine contact and interactions lead to more awareness, engagement, and build your brand.

5. Expanding Market Reach

The world is rapidly changing. More individuals are moving to different states. Investors are looking for new properties worldwide.

Navigating would have been a challenge in the past, but video conferencing for real estate changes it all. Clients can work with agents in different parts of the world. Agents can automatically expand their reach, working on deals that lead to higher commissions.

6. Improved Team Collaboration

Real estate agents do not work alone. From brokers to real estate transaction coordinators and inside sales agents, everyone comes together to make deals happen. Communicating seamlessly with the team is essential to improved efficiency and success. Team members can also qualify leads, answer client questions, and manage the administrative process with ease.

Best Video Conferencing Apps for Real Estate Professionals

You’ll have several options, each with benefits and features, and tailored for specific purposes. Passport-photo.online revealed that 89% of organizations use multiple video conference tools with 45% choosing them for ease of use.

Of the many real estate video conferencing tools, Zoom is the most popular with a 55.44% market share. Statistics show a 54% increase in revenue from 2021 to 2022, mainly attributed to the then-pandemic and the increase in remote work. Zoom’s accessibility and ability to host huge meetings make it appealing. However, there is a limit to the free plan and video quality is sometimes a challenge.

Google Meet is another popular option, if only because most people have Gmail and Google accounts, meaning you can access a meeting with any device with an internet connection and a camera. While performance can be inconsistent, its recording and transcription features, and accessibility make it a go-to option for real estate professionals.

WebEx by Cisco is another popular option for growing businesses. Hosted on Cisco’s robust platforms, WebEx boasts excellent performance, an amazing interface, and high-quality video. The subscription can be pricey for solopreneurs or small businesses. There is also limited capacity for recording storage.

Other popular options among real estate professionals include GoTo Meeting, Microsoft Teams, DialPad, and Zoho Meeting. Microsoft Teams, like Google Meet, is available with a subscription to the Microsoft suite.

Sometimes, the simplest option is the best. FaceTime is an easy way to connect, especially if you and your clients are all on Apple devices. WhatsApp’s video option is used when in a pinch but would require external screen recording software.

Choose the best option based on budget, team size, features, and long-term goals.

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How to Effectively Use Video Conferencing in Real Estate

How you use your video conferencing software depends on your team size, team functions, business processes, and individual needs. It should be incorporated into your SOPs rather than used haphazardly. Here are some ways to seamlessly use video conferencing.

Inside Sales Agent Prospecting and Nurturing

Inside sales agents focus on lead generation, administrative tasks, sales calls, and follow-up inside the office, freeing up room for outside sales agents to close deals. Video conferencing can be a vital part of their daily work. They can qualify leads with video calls, share updates, answer contract-related questions, or host meetings leading up to closing on vital deals.

Remote Client Meetings and Consultations

Video conferencing can be the first interaction you have with a client interested in a particular listing. After the client fills out the information on a contact form or lead form, they can schedule a call with you using apps like Calendly, which seamlessly links with conferencing tools like Zoom.

You can do a 20-30 minute consultation that helps you understand the prospect’s needs. You can make suggestions or schedule in-person appointments accordingly. For all subsequent meetings, clients should be provided with video conferencing options for efficiency.

Conducting Virtual Property Tours and Open Houses

Give clients the option of in-person or virtual property tours. You can schedule multiple potential buyers to view a home simultaneously or one-on-one showings for more engaged buyers. This minimizes foot traffic in occupied homes while maximizing exposure. Pre-recorded virtual tours can also be shared, but live tours allow for real-time engagement, answering questions on the spot. If the home is occupied, you can increase the frequency of virtual tours.

Collaborating with Your Team

In-person meetings, while helpful, are not always a requirement or necessary. Make real estate virtual meetings part of your operations for enhanced collaboration between team members, clients, and stakeholders.

A monthly team meeting via video helps everyone review performance, follow up on outstanding tasks, and review team goals. Video calls ensure everyone is updated, whether they’re in the office, out pounding the pavement, door knocking, or executing community-driven real estate farming ideas.

Video conferencing for real estate must keep tight timelines, provide clients with pre-call instructions, and always be professional.

Best Practices for Video Conferencing for Real Estate Professionals

You should aim to create a polished, professional experience for clients that builds trust and closes deals. Or else, what’s the point?

From technical setup to presentation, communication, and security, there are a few best practices that every real estate professional should follow.

Real estate video conferencing tools

Along with apps like Zoom or GoTo Meeting, get a dedicated camera, such as a webcam rather than the built-in laptop cameras. For video walkthroughs, you will need a dedicated camera that can connect to your device, which you can then use for video walkthroughs. This step boosts video quality significantly.

Audio also matters. For in-office calls, use a dedicated mic or headset. A wireless Lavalier mic is more functional for virtual tours. Next, it’s preferred lighting. A simple ring light is enough to bring in an additional light source. If artificial lighting is unavailable, sit in front of a window during the day (you can also sit with the window to one side, but there will be a shadow on the other side of your face). The natural light is more than enough to create a good impression.

Internet connection often gets overlooked. Poor connection is often the underlying cause of performance issues. Invest in reliable high-speed internet with at least 10 Mbps upload speed for clear, uninterrupted video calls.

Finally, get yourself up to date on the features of your app. Learn screen sharing, whiteboards, recording, and managing participant settings before your call so you don’t look unprepared.

Environment, Presentation, and Communication

The right real estate video conferencing tools in the wrong environment will produce poor results. You want to look professional at all times. Dress well, maintaining the same dress code you will for in-person meetings. Create a clean, uncluttered background that reflects your brand. Subtly incorporate your real estate branding through visible business cards, logo items, pictures, or digital backgrounds. If you’re showing a property or sales presentation, create a clear agenda and use consistent but easy-to-understand terminology.

During your calls, try to limit distractions. When clients see you are 100% engaged, trust builds. This engagement is also reflected in your communication. Speak clearly and more distinctly than in person while engaging in eye contact. Having multiple screens up can distract you, so close them off and focus on your client. While communicating, practice active listening, rephrase questions so you understand, and answer with enthusiasm and a smile.

Technical Challenges and Security

Real estate agents wear multiple hats and sometimes, you’ll end up being the IT person. Learn the basic troubleshooting steps for apps, cameras, and other pieces of equipment. It helps to run a test call 30 minutes before your live call or presentation to ensure everything is working as intended. Even with the test, have a backup device, like a phone with data, ready in case of unplanned interruptions.

It’s your job to keep your virtual environment secure. Enterprise-grade real estate video conferencing tools work best, and password protection matters. Always use meeting passwords and waiting room features to prevent unauthorized access to client meetings.

Clients will share sensitive information and documents from time to time. You can use tools like WeTransfer for password-protected file sharing, which also helps to get client consent to share property details or client information.

Implement these steps to make video conferencing for real estate more effective.

Future Trends in Video Conferencing for Real Estate

With the rise in technology and changing trends, there are opportunities to make videos faster, better, and with more immersive experiences. Perhaps one of the more exciting developments is extended reality (XR) experiences like Augmented Reality (AR) and Virtual Reality (VR). These may help you view neighborhoods or make changes to spaces with VR mockups.

With Artificial Intelligence (AI), real estate agents will automate meetings and follow-ups or translate viewings into multiple languages. Rising technology like sentiment analysis will be built into real estate video conferencing tools. Subtle facial expression and voice tone analysis will help agents better read client reactions during virtual showings, enabling more responsive service.

A hybrid form of real estate service will become standardized. Clients will access fully virtual or high-touch in-person experiences with corresponding fee structures. Inside sales agents may operate fully with real estate video conferencing tools. These changes will make real estate agents accessible to all, dissolving geographical locations.

Make Video a Part of Your Process

Video conferencing for real estate can make the process easier for clients and REALTORS. Both parties can save time, expand reach, and improve client experiences.

Video meetings are a common part of today’s working world. It will soon become the norm in other spaces, like real estate.

Forward-thinking professionals recognize that embracing real estate virtual meetings doesn’t replace the value of in-person interactions. They will complement them and make a more agile business model.

Choose at least one process that can be supported or even replaced with video. Then get the tools, such as a camera, mic, and conferencing app in place. Set a space for consultation calls or work out virtual or live house tours.

The future of real estate will belong to those who skillfully blend in-person meetings, personal brand building, social selling, and video conferencing.