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Real Estate Industry Webinar: Trends, Challenges, and Technology Solutions

Join us for a webinar on the latest trends in the real estate industry, including technology solutions and challenges such as cyber security and leveraging mobile workforce. Gain insights from industry experts and learn how to effectively navigate the changing market.

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Real Estate Industry Webinar: Trends, Challenges, and Technology Solutions

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Presentation Transcript

  1. REAL ESTATE INDUSTRY WEBINAR AGENDA Agenda • Real Estate Industry Defined • Level Set: Real Estate Macro Industry Trends • Real Estate Tech Trends • Challenges • Cyber Security • Appropriately Leveraging Technology • Mobile Workforce • Technology’s Impact on Buyer Behavior & Expectations • Specific Technology Solutions for Real Estate • Partnering with Property Management • Q & A with Devin and Dave • Devin Williams Dave Hopper • VP- Strategy, CNSG Sr. Director of Solutions Engineering, CNSG

  2. REAL ESTATE INDUSTRYDEFINED Residential Buying and selling of Homes or non-professional use properties (Real Estate Brokers, Management and Franchises) Industrial Properties for production and manufacturing Commercial Properties used for professional use such as office space Property Management Operation, control and oversight of properties

  3. LEVEL SET REAL ESTATE MACRO INDUSTRY TRENDS Level-Set; Real Estate Macro-Industry Trends • BULLISH: Low interest rates, high demand and robust economic conditions were all cited as reasons to be hopeful in 2018 (71% of agents are optimistic about 2018, up slightly from 2017) • Blame the Millennials: Now the largest home buying demographic, they command the current trajectory of the industry • Supply & Demand: Late 2018 housing supply catches up with demand in many geo’s • Referrals continue to dominate as the top source of business • Act Now! Impending Mortgage rate hikes put pressure to move on potential buyers • Customer Experience Reigns Supreme: It’s becoming increasingly important to differentiate based on customer experience and relationship management Capture the opportunity while the market is hot! Industry investment in developing new channels to extend reach, acting quickly on leads and differentiating through experience.

  4. REAL ESTATE TECH TRENDS Level-Set; Real Estate Macro-Industry Trends Tech Tech Tech Tech • Meeting the Customer’s experience expectations is everything • Leveraging tools to empower the mobile workforce • Implementing technology to differentiate from competition, develop new channels, improve margins and gain visibility into the business • Acting quickly to capture and retain new customers • Technology Cost consolidation • Security isn’t top of mind… but it SHOULD BE

  5. CHALLENGES CYBER SECURITY Level-Set; Real Estate Macro-Industry Trends 92% of customers report plans to increase cybersecurity-spending in 2018 50% of organizations believed that they are not adequately prepared to prevent or mitigate a cyber attack. Business email compromise (BEC) is one of the most prevalent security threats in real estate today. The FBI has concluded there have been over $3 billion of losses attributable to BEC According a KPMG report, 30% of Real Estate organizations experienced a cyber-attack in the previous 24 months

  6. CHALLENGES MOBILE WORKFORCE Level-Set; Real Estate Macro-Industry Trends More than half of agents report working outside of the office, with the numbers rising The files they need to access are typically large and contain sensitive financial and personal information 78% of agencies use BYOD policies Less than 30% of agencies polled have solutions in place to control and monitor mobile devices. The industry has a very high turnover and low tenure rate Agents told REAL that in 2017 they spent 35%+ of their time on “non-selling activities” despite having assistants and book Keepers on staff

  7. CHALLENGES TECHNOLOGY’S IMPACT ON BUYER BEHAVIOR & EXPECTATIONS Level-Set; Real Estate Macro-Industry Trends 90% of buyers use the internet to do research before engaging a broker For all home buyers under 71 years of age in 2017, home photos on the broker website was listed as the number 1 desired feature 40% Millennials now make up 40% (the largest segment) of potential Buyers and have very different experiential expectations than other generations such as mobile app functionality Buyers age 62 to 70 had highest customer sat scores, showing room to improve for larger demographics such as millennials. The improvement will come from the use of technology

  8. CHALLENGES APPROPRIATELY LEVERAGING TECHNOLOGY Level-Set; Real Estate Macro-Industry Trends UNDERSTANDING THE BUSINESS, AUTOMATING TASKS, REDUCING COST & CAPTURING EACH PROGRAM’S ROI VIA TECHNOLOGY. According to REAL Trends, surveyed organizations reported the active use of a CRM increased productivity by 40% or more. However, 30% of organizations do not have a CRM in place AR and VR are believed to be huge area of focus for the industry in 2018 When all factors are considered, Cloud Infrastructure and Applications cost roughly 50% less than on-prem Referrals continue to be the #1 driver of revenue and opportunity for brokers; how can technology help me capture and act on referrals quickly???

  9. SPECIFIC TECHNOLOGY SOLUTIONSFOR REAL ESTATE Level-Set; Real Estate Macro-Industry Trends $$

  10. SPECIFIC TECHNOLOGY SOLUTIONSFOR REAL ESTATE Level-Set; Real Estate Macro-Industry Trends

  11. PARTNERING WITH PROPERTY MANAGEMENT Level-Set; Real Estate Macro-Industry Trends Win-Win: Both Parties Increase Revenue and Extend Reach • Multi-tenant • Providing full services to their customers • Create new revenue streams and competitive advantages for them Referral Partnership: • New building or tenant needs connectivity • Providing VDI and Phone services to customers • Providing NOC services • You close the deal and get larger % (hint, we will help!)

  12. Q/A Any Questions?

  13. Thank You!BE SURE TO JOIN US FOR NEXT MONTH’S INDUSTRY WEBINAR: LEGAL

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