As real estate broker in today’s market, technology can present both great challenges and opportunities. One of the biggest opportunities available for brokers today is the ability to leverage their digital assets. As consumers adopt more and more technology, the digital assets of the broker and the access to them will only increase. Amongst other things, brokers have a unique opportunity to own their Mobile Ads.
In 2011, according to comScore, Smartphone adoption grew more than 50% and mobile users who consumed mobile media grew by 30%. Mobile technology has never been more prevalent within the real estate market than it is today, in fact just last week Realtor.com announced an agent offering for their app. Brokers know they need this technology, but the challenge is to understand both the right technology mix, and how to afford it.
In conjunction with the rise in mobile use there is and will continue to be a rise in the amount of money spent on mobile advertising. A study by research firm Yankee Group estimates that mobile ad revenue will soar three and half times to nearly $11 billion by 2016. As a broker adopting a mobile strategy, not only can you provide your agents and consumers the technology needed to stay relevant, but you can capture highly targeted dollars which will be flowing into the mobile channel from real estate service providers.
Here is how it works; a complete mobile strategy combines multiple technologies such as text messaging, QR Codes, Mobile websites, downloadable apps, a platform where all of this is managed and digital communication that transpires as consumers access info and agents get new listings. All of these present a “touch point” which is highly targeted and valuable to real estate service providers.
As a broker, you have service providers who you work with on different levels whether it’s an economic, service or referral relationship. In some cases there is even a joint venture, where the struggle becomes how you get your agents to keep the business in house. All of these services providers could benefit greatly from all the real-time “touch points” a mobile solution offers to better reach your agents. You have a valuable asset you have yet to utilize if you haven’t created a mobile strategy/solution or one you have yet to capitalize on if you have leveraged your existing platform with your service providers. Don’t let these assets go untapped any longer!