The real estate industry in Malaysia has been going through a metamorphosis with technological innovations, though there is one aspect of the real estate scene that has yet to be directly effected by such advancements, which are the real estate agents.
Despite the fact that real estate agents have yet to be effected by digitization, they also face multiple challenges that come with the disruption including:
- Spending insane amounts of money buying packages from various online classified portals
- Not having time to upload their listings on the many online classified portals
- Listings on online classified portals have a tendency of getting lost between the clutter of the millions of other listings
- Identifying and filtering out buyers from agents with hidden agendas
- Filtering out serious buyers from window shoppers
So, how can real estate agents stay relevant throughout the innovation of Property Technology in Malaysia?
It is important for real estate agents to take advantage of property transaction data available online, to provide accurate and timely information that could help with customer retention, from sources such as:
There are also innovative sources helping agents to connect with potential buyers who will least likely waste their time and resources and more likely to close a deal, such as:
- PropRebate.com (Real estate agents will be provided with serious buyers with pre-approved loans, filtering out window shopping buyers. This guarantees 0% chances of crafted deals collapsing at the last minute due to the buyer’s financials.)
By utilizing such platforms, agents can give themselves an advantage over the competition.
It is understandable that many real estate agents turn away from the rise of property technology in fear. Though the property industry might become a scarier place if these advancements go underutilized.