As we move into a market with fewer transactions and potentially lower prices, it’s more important than ever to zero in on what works and eliminate any unnecessary costs in your business. A great place to start is by doing a technology audit that identifies where you’re wasting time and money.
Before discussing the steps in conducting a technology audit, there is one key point that should always be kept in mind: your number one goal is to get a face-to-face meeting. The 2021 NAR Profile of Buyers and Sellers showed that 82 percent of sellers and 73 percent of buyers interviewed only one agent they hired.
Taking full advantage of the technology tools that work best for your business keeps you top of mind when that buyer or seller decides to transact. Whether you provide a property report, use an email newsletter, or post photos and videos on Instagram, YouTube, or TikTok, make sure you give the user a reason to give you their contact information.
How to audit your technique
First, check the apps on your mobile devices and delete the ones you haven’t used in the past year.
For example, I signed up for Club House and stopped using it after 90 days. I also eliminated about 40 other apps that I don’t use.
Then I arranged my essential and frequently used apps on the front page of my mobile devices so that I can quickly find what I use most often. This approach increases your efficiency and saves valuable time.
The same logic can be applied to subscription software.
Have you ever signed up for a company’s 30-day free trial, given them a credit card, and then forgotten to cancel? When you find these, determine if you are using this service and if so, if it is contributing to your bottom line. If not, cancel the service immediately.
Have you ever asked your customers which technology tools were the most and least useful, or looked at the data many of these tools generate about how often they are used? Do they care about 360 degree virtual tour technology? Do they ever use the QR codes you put on your brochure boxes? Is that open source lead conversion software you’ve had for years really generating new business?
For those customers who are not tech-savvy, face-to-face and phone contact is an absolute must. In contrast, your technologically sophisticated customers will be excited to use the most advanced technology tools available.
If your customers aren’t using or responding to the technology tools you offer, you have two options. The first is to completely remove the technological tool. The second is to look for another provider that may be easier for your customers to use.
Look for what’s free
You’d also be surprised at the ways you can replace free services with things you can get for free.
The National Association of Realtors Reports is an excellent resource that provides free detailed property reports. These reports are especially helpful when you meet someone while you are prospecting, on a date, or at an open house. The beauty of using these RPR reports is that you can provide them with the information they want right away.
What is outstanding about this service is the RPR app. When you meet someone and they would like to know about their home, all you need is their email or mobile number. The app sends reports instantly. Best of all, it only takes about a minute and that bullet costs zero to get.
When you eliminate technology and apps you’re not using, you have room to try new technologies. However, it’s important to avoid “Shiny Object Syndrome” or getting sucked into the claim, “It’s only $29.95 a month.”
Instead, determine if any agents you know are already using this tool, the ease of use, and if their customers like using this technology. Give any new technology 90 days to see if it works for you and your customers. If not, skip it and move on to the next technology or application that may be more suitable for you.
There is no better time than now to do a technology audit. Double what your customers love to use and discard what doesn’t work for your business.
Bernice Ross is a nationally syndicated columnist, author, trainer and speaker on real estate topics. It can be reached at email@example.com.