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Friday, 21 February 2020
Agent Resource Center
Agent Resource Center

4 Reasons Why You Shouldn’t Hate Real Estate Chatbots

Written by Posted On Tuesday, 07 January 2020 08:55

There is plenty to dislike about chatbots. Customers complain about them, publications run headlines bashing the use of chatbots as bad for customer experience, and you have probably already had at least one bad experience where a simple chatbot cost you your time and patience. So why would you ever let a bot handle your real estate clients?

Well, it’s essential to understand that despite negative coverage, there is plenty to love about chatbots. Especially when it comes to the real estate market.

 

1 - Chatbots can be as simple as you want

Maybe you don’t want to trust a bot to handle too much. Or perhaps you don’t want to spend a lot of time, money, and effort making sure your bot won’t cause a wrong impression on potential property buyers. All of that is fine; a chatbot can be as simple as you want it to be.

The real estate agencies who are investing the most in bots have developed intelligent digital assistants capable of helping their customers find properties, consult prices, contact real estate agents, and more. But your bot, for your agency’s website or social media account, can be programmed to send short messages such as “I’ll get to you as soon as I can” or “I’m out of the office for the weekend,” followed by a polite request for the client’s contact information.

Such an approach is simple, cheap to implement, and will set your business apart from other agencies.

 

2 - Chatbots are introvert-friendly

You’d be surprised by the lengths some people are willing to go to avoid human interaction. This attitude is especially relevant among millennials, who tend to prefer texting to phone calls, and they prefer to help themselves rather than asking for help when dealing with companies. Those habits will, of course, manifest when they are looking to buy their first home, or find a location to open a new business.

A bot may be just the middleman, for you need to break the ice with shy customers. Let the customers initiate an interaction with your chatbot, and by the time you or another real estate agent get involved, they will already warm to the conversation. Utilizing a high-quality vetting system will also help you filter out cold leads to save you time.

 

3 - Chatbots integrate well with CRMs

Customer Relationship Managers (CRMs) are software solutions that make it easier for an agent or real estate firm to interact with their customers across many platforms. CRMs integrate very well with chatbots. They also provide a framework for the unification of client information and conversation histories, making it easier for the brokers involved to see old conversations and spare the buyer from having to repeat any tedious processes.

With your chatbot and CRM working in unison, all of your data will now automatically organized into one central location. This way, all the conversations and leads your bots generate over Facebook, Snapchat, Instagram, WhatsApp, and your website compile in a single user interface. This system will allow you to contact those leads already knowing what type of property they are interested in learning more about.

Bots can even ask customers if they have a particular budget in mind and ask if they are already working with another real estate agent. The integration of bots with CRMs is so beneficial that many CRMs come with their chatbot-building tools.

 

4 - Chatbots save time

Bots do save a lot of time, and they scale up well. Chatbots are also very cheap if compared to the cost of human customer service. Implementing a bot solution can help real estate agents spend less time asking questions and more time selling properties and showing them to customers.

Unfortunately, this strength is also what has been earning chatbots a lousy reputation. Many real estate agencies rushed to cut costs and get ahead of the curve, putting out poorly programmed chatbots, which hurts overall customer service and experience.

So chatbots do save time, but that doesn’t mean you can cut corners while implementing them. Getting your real estate chatbot working right may take weeks — or even months, depending on how much functionality you want.

The results, however, can be tremendous. For example, take a look at how ProAd Labs turned $3,309.49 in ad spend into over $1.5MM+ in commission for an enterprise real estate brokage firm using Facebook Ads and chatbots.

 

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