Essential Tech Tools for 2024

2024's must-have tools and applications for real estate agents include advanced CRM platforms, personal safety apps, and comprehensive property analysis software.

As the industry shifts with technological advancements, agents who adopt these cutting-edge tools will excel at optimizing operations, fostering client relationships, and closing more deals.

Barry Jenkins, Realtor in Residence at Ylopo, emphasizes the importance of a mobile-friendly CRM:

"So a few of the apps that my team really enjoys are the follow-up boss mobile app. So that's the CRM we use and it's a really good mobile app. It provides a lot more functionality than a lot of others."

Real estate requires instant access to critical client data and communication tools.

Advanced CRMs like Follow Up Boss and Zillow Premier Agent offer powerful mobile apps allowing agents to manage leads, automate follow-ups, and track deals from anywhere, anytime.

AI-Powered CRMs

As artificial intelligence (AI) becomes more sophisticated, CRMs are incorporating AI-driven features that can revolutionize lead nurturing and client engagement.

These advanced systems analyze extensive data sets to identify high-quality leads, predict client behavior, and suggest personalized follow-up strategies.

AI-powered CRMs will likely become the norm by 2024, enabling agents to focus on building relationships while the software handles much of the background work.

Action Steps:

• Invest in a mobile-friendly CRM with AI capabilities to streamline lead management and client communication.

• Use AI-powered features to prioritize leads, personalize follow-ups, and refine your sales funnel.

Prioritizing Agent Safety

Personal safety is crucial for real estate agents, who often meet strangers in unfamiliar locations.

Barry highlights the importance of apps like Forewarn:

"For us, Forewarn is really important for my team to have a degree of security when they're going to meet a stranger. You can just put in their name or their phone number and it actually does a full background check."

These apps provide comprehensive background information on potential clients, helping agents assess risks and take necessary precautions before in-person meetings.

Emerging Safety Technologies

As technology advances, we can expect even more sophisticated safety tools for real estate agents.

Wearable panic buttons, GPS tracking devices, and facial recognition software may become standard safety measures soon.

Additionally, blockchain-based identity verification systems could help agents confirm potential clients' authenticity without compromising personal data.

Action Steps:

• Utilize personal safety apps like Forewarn to conduct background checks on potential clients.

• Stay informed about emerging safety technologies and consider adopting them as they become available.

Data-Driven Property Analysis

Accurate property valuations and comparative market analyses (CMAs) are essential for success in real estate.

Barry praises the RPR app for its comprehensive CMA capabilities:

"So we're realtors and so we get this really great CMA app to where it's free and we're able to do a full, complete CMA, comparative market analysis for our sellers inside of that mobile app."

RPR and similar apps access extensive databases of property information, including sales history, tax assessments, and neighborhood demographics, to generate detailed reports that help agents price properties competitively and support their recommendations with data.

The Future of Property Analysis

As big data and machine learning progress, property analysis software will become increasingly sophisticated.

Predictive analytics tools will help agents forecast market trends, identify undervalued properties, and optimize pricing strategies based on real-time data.

Virtual and augmented reality technologies may also transform property analysis by allowing agents to virtually stage and tour properties, providing immersive experiences for clients and gathering valuable feedback to inform pricing and marketing decisions.

Action Steps:

• Use comprehensive property analysis apps like RPR to create data-driven CMAs and support your pricing recommendations.

• Keep an eye on emerging technologies like predictive analytics and virtual reality, and consider how they can enhance your property analysis capabilities.

Niche-Specific Tools

While the tools mentioned by Barry benefit all real estate agents, certain niches may require specialized apps and software.

For example:

1. Commercial Real Estate: Agents focusing on commercial properties may need tools like Reonomy or CoStar, which offer in-depth data on property ownership, zoning regulations, and market trends specific to commercial real estate.

2. Short-Term Rentals: With the vacation rental market's continued growth, agents in this niche may benefit from apps like AirDNA or Mashvisor, which provide insights into rental demand, revenue potential, and investment opportunities in popular short-term rental markets.

Action Steps:

• Identify your niche's specific needs and research specialized tools that can help you better serve your clients and stand out in your market.

Parting Thoughts

Real estate agents who embrace cutting-edge tools and technologies will be best positioned for success.

By leveraging mobile-friendly CRMs, personal safety apps, and comprehensive property analysis software, agents can optimize their operations, strengthen client relationships, and make data-driven decisions that lead to more closed deals.

As Barry Jenkins and other industry experts have shown, staying ahead requires a proactive approach to adopting new technologies and continuously adapting to the changing real estate environment.