The world is tentatively reopening industry by industry, but some are still dealing with broad impacts from COVID-19 that could potentially shift the way they operate long term.
The real estate industry, for example, saw increased use of online and mobile channels by both buyers and sellers, something that is likely to continue well into the future.
One of the biggest changes that arose during the first few months of the pandemic in several global markets concerned how real estate firms were able to find, interact and successfully manage relationships with new clients. Face-to-face meetings were stalled by necessity due to health concerns, which meant that digital interaction quickly became the industry standard.
In the latest Digital Consumer Onboarding Tracker®, PYMNTS examines how the pandemic has impacted the real estate industry, particularly its adoption of digital tools to onboard new buyers, renters and sellers. The Tracker also analyzes how these trends are likely to continue in the future.
Around The Digital Onboarding World
Other real estate businesses are tapping emerging technologies to help them better support customers that are becoming majority-digital. Cloud software provider AppFolio is grafting artificial intelligence (AI) into its offerings for real estate companies, for example. The provider created an AI-enabled tool called Lisa, designed to help simplify the onboarding experience both for homebuyers, renters, sellers and landlords. Firms can also use the Lisa tool to provide customers with virtual tours of properties, according to AppFolio. Using AI-based offerings in this way can help to craft more seamless experiences for waiting customers who want to find new homes or apartments, in turn allowing real estate firms to work with a wider array of clients.
For more on these and other stories, visit the Tracker’s News & Trends.
How Property Management Firms Are Innovating Onboarding For Digital Real Estate
The real estate industry did not escape the impact of the pandemic, with firms responding to drops in property prices as well as changes to the ways in which they can communicate with and find new clients. This is accelerating the move to digital channels within the industry, according to Colin Wiel, co-founder and chief technology officer for property management firm Mynd. The movement to online channels also means that real estate firms must be prepared to onboard any new clients with the same ease and swiftness they typically expect from services in other digital industries, Wiel said in an interview with PYMNTS.
To find out more about how Mynd is innovating its onboarding processes, visit the Tracker’s Feature Story.
How Fresh Data Sources Help Real Estate Firms Fend Off Onboarding Frictions
To learn more about how the pandemic is affecting the online real estate industry and the way firms are approaching identity verification in onboarding, visit the Tracker’s Deep Dive.
About The Tracker
The PYMNTS Digital Consumer Onboarding Tracker®, a partnership with Melissa, examines the latest KYC, digital onboarding and online verification news and trends. The Tracker also examines the role alternative data sources and related technologies such as advanced analytical tools can play in this space as onboarding needs grow more sophisticated.
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