The New Homebuyer Experience: Enhancing the Homebuying Journey
In an increasingly automated world, the power of human connection remains paramount. This is particularly true in the realm of property development, where building trust and rapport with buyers is crucial. Leveraging technology, while maintaining a personal touch, is the key to success in today’s market.
Data is invaluable to developers, project marketers, and agents today. It shows where we engage most with leads and helps industry leaders utilise PropTech to revolutionise their business models. The way we buy homes today is unrecognisable from 10 years ago, and it’s essential to meet buyers where they are - on their phones. The National Association of Realtors reported that 80% of Gen Zers spend time on Youtube and 75% of Gen Zers spend time on Instagram.
Enquiry
The new homebuyer experience starts with an enquiry. Buyers search for homes online using platforms like Zillow, Realestate.com.au, Domain.com.au, project websites, Facebook, and Instagram. It’s during this stage that trends start to emerge. Which websites are people most likely to make an enquiry on? This data can be collected and analysed using industry-specific CRM tools like Property Shell.
Lead Management
After the enquiry, the next steps are to qualify your leads and begin engaging with them. This is where automation comes into play. Based on the preferences indicated by potential buyers, targeted information can be sent to them. For instance, if a buyer has expressed interest in a 3-bedroom apartment or a 375 square meter lot, they can be sent floor plans that match their preferences.
Buyer Communications
Perhaps a buyer indicates on a form that they are interested in a solar package or they want oceanfront views. Their journey can be tailored based on these preferences, crafting better messaging that is more likely to reach them. This can be done whether you’re an agent speaking with them on the phone or if there’s an automated journey sending SMS and email.
Understanding Buyers
Understanding what drives buyers to close and choose your development is crucial. While the classic mantra of “location, location, location” still holds true, there may be other factors drawing in buyers. Perhaps a development is environmentally minded and offers solar and electric car charging. Or maybe the unit mix is a deciding factor. Data helps us understand behaviour and make decisions regarding pricing, unit mix, buyer upgrades, etc.
Engaging with the customer after enquiry is another important step. This involves maintaining communication and ensuring that the buyer’s needs and preferences are being met.
Settlement & Completion
Finally, we want to ensure that our buyers settle. This involves collecting data to understand where our buyers are and utilising technology to make a plan and act on it. This can be driven by email, phone, and SMS automations.
Lastly, buyers are happy when the settlement and handover process are smooth. This means they have an easy way to log defects upon PSI Inspections, they have been regularly kept up to date with construction and settlement updates, and the optional upgrades and custom variations they chose are indeed in their new apartment.
This whole process is managed seamlessly with an industry-specific CRM like Property Shell. By leveraging PropTech, we can enhance the homebuyer experience, making it more efficient and tailored to individual needs. This is the new homebuyer experience, and it’s revolutionising the way we buy homes.
Property Shell Features:
- CRM - Lead capture, lead allocation, and lead management.
- Stock Management - Allocate stock to internal and external sales teams, release stock for sale, and update information such as pricing.
- Marketing Automation - Create and manage buyer journeys with automated sms and email messaging, task reminders and status updates.
- Contract Management - Manage and store contracts in one secure place.
- Payments - Track agency, agent and vendor commissions and purchaser deposits.
- Settlement Management - Manage buyers in the lead up to settlement by tracking communications, finance status, and settlement risk score.