Flourishing new technology and generative AI looks to offer professionals plenty of tools for success. Perhaps most paramount, however, is access to information and the ability to analyze that data, in order to make informed decisions. 

In real estate, with buyers and sellers seeking an edge to get the most value, those who are better equipped at data aggregation and analysis are poised to succeed, especially in times like now when markets are tense and chaotic.

As Jeremy Dawn, founder and CEO of SNFLWR Investment Corp. attests, technology and apps have revolutionized the real estate investor game, enabling investors to find properties that cash flow even in tough markets.

“One of the most significant shifts has been the availability of data. In the past, investors had to rely on traditional sources such as real estate agents and property managers for information about potential investments,” he notes. “Today, a wealth of data is available online, including property listings, rental rates and market trends. This data can be used to identify properties that are likely to generate positive cash flow.”

A desire for better information access and analysis methods to make sound investment decisions

When investor Liz Macey couldn’t find an ideal tool to identify money-generating properties based on her needs and parameters, she set out to create one.

Macey founded UnitIQ and explains the platform helps investors find and invest in properties that cash flow. “We’re able to take data from a whole bunch of different sources and make this search process a whole lot easier. We have active listings in the country with vacancy rates and rental prices, and we use financial analysis tools to find cash flow.”

Macey, whose diverse professional background includes an MBA and a pilot’s license, developed the platform after realizing how overwhelming it can be to know how and where to level up her investing. She wanted better access to information and improved ways to analyze what’s available to make savvy choices.

“(This) is a pain point for investors and realtors, especially when you’re looking at multiple communities. It’s a lot of data when you’re trying to find good opportunities.” She explains with UnitIQ, users can input their different parameters, such as budget or downpayment.

The tool will offer both a free model that allows for a basic search as well as a paid subscription tier aiming to serve agents. The latter option will incorporate advanced analytical tools: agents can create multiple profiles and specific searches for clients and have the ability to export data with custom branding.

Analytical systems and generative AI: Promising, useful tools to help clients

Eva Landreth champions such newfound tools as essential to success. A realtor with Century 21 Millennium Inc., Landreth has found success using analytical systems such as HouseSigma and AirDNA to connect clients with investment properties and secondary chalets in Ontario, with a focus on short-term rentals.

“It’s amazing,” she says of what’s possible. “Before you buy a property, you can see revenue, trends, occupancy and price strategy. You can compare similar properties on a street, look at property manager companies and really get to know the historical data, seeing if certain properties aren’t performing well,” she explains. 

Generative AI proves a promising tool as well, one that Landreth is also leveraging. “I think people are using the basics,” she says. “I don’t think people have unlocked all its potential. You have to feed it smart information to get out what you want. I think it’s just going to help our job, make things go a lot quicker — the mundane tasks, it will make easier.”

Dawn concurs, noting that tools and technologies have made it easier for investors to find and analyze potential investments, manage their properties and communicate with tenants. “They’ve also helped to level the playing field, giving (investors) access to the same data and tools that professional investors use,” he points out.

Tools and tech will never replace the human touch

Dawn feels that as technology continues to evolve, investors can expect to see even more innovation that makes it easier to find properties that cash flow and aid in decision making, saving time and money and ultimately achieving financial goals.

Still, Landreth believes you need that lived experience, wisdom and connection with clients in order to provide the best guidance. “The tools will help you get the market trends and find the hidden opportunities, but you still need that human touch. If you’re just looking at the data, you don’t have the human interaction and expertise in the local market.”

While a more diverse tool kit may prove useful for investors, there is concern about its effects on renters and those seeking to buy their first home. Macey notes some of UnitIQ’s users are prospective first-time homebuyers, and that potentially more data about property management companies will help improve the rental market.

“Investing in real estate is a tricky conversation to have when you’re considering everyone in the economy,” she says. “My hope is that we’re able to end up having more rental properties on the market, helping increase the supply so that hopefully you can find a home more easily.”

Venturon Ltd., a Canadian-owned investment group focused on real estate technology start-ups, has recently partnered with Darabase Canada, a technology company specializing in immersive media for the spatial web (spatial out-of-home and permission-based augmented reality (AR) advertising).

Venturon brings decades of experience in various real estate sectors, integrating technology, products and services to create opportunities, efficiencies and investment returns. This is Darabase’s first such agreement in Canada since entering the market in February.

‘As AR and the spatial web advance, buildings, streets & landmarks will be transformed … reshaping our daily lives’

The collaboration merges each company’s expertise in AR advertising and managing property digital rights, an emerging asset class.

With the rise of AR-enabled devices and advances in the spatial web, the companies partnered to create new value for property owners across Venturon’s client and partner network.

“Real estate needs a new foundation, and technology is the key to unlocking its full potential,” says Deena Pantalone, founder and managing partner of Venturon. “Our partnership with Darabase aligns perfectly with our vision to rethink real estate. By leveraging Darabase’s expertise in AR and the spatial web, we’re paving the way for innovative solutions that benefit both property owners and the broader community.”

Peter Pinfold, CEO of Darabase Canada, notes that Venturon shares their vision that modern property ownership includes not just physical space but also property digital rights: “These rights enable property owners to protect, manage and monetize their digital assets, much like air and subterranean rights add value to traditional real estate.

The world is becoming a digital canvas for immersive brand experiences. As AR and the spatial web advance, our buildings, streets and landmarks will be transformed with dynamic, interactive content, reshaping our daily lives.”

Image: Darabase

If you think AI begins and ends with ChatGPT, you’re missing out on a universe of possibilities. While OpenAI’s chatbot took the world by storm, it’s just one star in an ever-expanding galaxy of AI models. Relying solely on ChatGPT is like trying to build a house with only a hammer — you’re limiting your potential and possibly compromising your results.

This principle applies across industries like Canadian real estate. Realtors in this field wear many hats, requiring skills in negotiation, social media, content creation and more. By exploring AI tools beyond ChatGPT, realtors can leverage diverse AI capabilities to enhance various aspects of their business, rather than limiting themselves to a single tool.

Risks of relying on a single AI system

• Missed opportunities. Using a single AI system can lead to missed opportunities and biased results.
• Limited perspectives. A single model can only provide a narrow view of a problem or solution.
• Stagnation. Relying on a single AI system can lead to stagnation, as you miss out on innovations from other models.
• Vulnerability to outages or updates. Dependence on a single system leaves you exposed if it experiences downtime or significant changes.

My experience using various AI models over the past four years has reinforced these risks. The quality of outputs can change dramatically, sometimes on a weekly basis. This volatility underscores the danger of stagnation when relying on a single system.

For instance, if one AI model consistently produces poor social media posts for first-time homebuyers, exploring alternative models could yield better results rather than waiting for improvements in a single system. 

Benefits of AI diversification

• Comprehensive insights. Multiple AI models provide a more comprehensive understanding of a problem or solution.
• Innovative solutions. AI diversification can lead to innovative solutions and new ideas.
• Adaptability. By using multiple AI models, you can adapt quickly to changing circumstances.
• Enhanced problem-solving. Different AI models approach problems in unique ways, leading to more robust solutions.

Diversify your AI arsenal — at no cost

Imagine having unrestricted access to the internet in its early days — you would have seized the opportunity!

Today, top tech companies worldwide are offering their cutting-edge AI language models for free. However, unlike the internet’s early days, we now have multiple AI models in an intense arms race, with innovations emerging every week.

Compare AI responses: One prompt, multiple platforms

One of the most effective ways to harness the power of AI diversity is to use identical prompts across different AI platforms. This approach allows you to directly compare outputs, highlighting each model’s unique strengths and perspectives. By using it, you can identify which AI excels at specific tasks, uncover nuanced differences in language understanding and even spot potential biases.

The method not only enhances the quality of your final output but also deepens your understanding of each AI’s capabilities, enabling you to make more informed decisions about which tool to use for future tasks.

Top alternative AI tools

In the rapidly evolving artificial intelligence world, several powerful alternatives to mainstream AI models have emerged, each offering unique strengths and capabilities.

For example, Claude by Anthropic excels in nuanced conversations and ethical reasoning, while Google’s Gemini brings multimodal capabilities and up-to-date information to the table. Perplexity AI stands out with its real-time information synthesis and source citation (very important), offering an interactive search experience. For those seeking open-source solutions, Meta’s Llama 2 provides flexibility and customizability.

By exploring and leveraging these diverse AI tools, users can tap into a rich ecosystem of capabilities, each suited to different tasks and requirements.

1. Claude by Anthropic — known for nuanced conversations, ethical reasoning, detailed explanations

2. Gemini by Google — known for multimodal capabilities, up-to-date information, integrated search

3. Perplexity AI — known for real-time information synthesis, citation of sources, interactive search

4. Llama 2 by Meta — known for open-source flexibility, customizability, strong performance on various tasks

Stay diverse to stay ahead

The AI landscape is evolving rapidly, and relying on a single AI system can lead to missed opportunities and biased results. By embracing AI diversification and exploring multiple models, you can gain comprehensive insights, innovative solutions and adaptability.

Stay ahead of the curve in your real estate business by harnessing the power of AI diversification.

You don’t need to worry about artificial intelligence taking over your job, but the realtor using AI down the hallway can potentially take your business.

This technology is the single most powerful tool that humans have ever had. The AI locomotive left the station on November 30, 2022. Now, it’s a bullet train hurtling down the tracks and can’t be stopped.

What’s important to understand about artificial intelligence and being in real estate is that AI will take over your remedial tasks such as social media posts, marketing, identifying real estate trends and creating newsletters. The result for you as a realtor is spending less time on the computer and more time with clients or finding new clients to grow your sphere.

How realtors are using AI

Currently, most realtors are using AI for their property descriptions and email responses. But AI goes way beyond simple language output. It’s now generating lyrical songs for your social media posts about your properties and creating AI videos about the local real estate market. 

With OpenAI dropping a bomb on the entertainment industry by introducing us to SORA, an AI system that can create 60-second videos from a simple one-line command, you can create real estate videos completely generated by AI. What’s more impressive is the simplicity of using this technology.

Most AI language models are now free

One thing that shocked me about this technology is that some of the most powerful AI language models are free to use. A lot of people missed the announcement by OpenAI (developers of ChatGPT 3.5, 4 and now 4o) that all the versions of ChatGPT will soon be free to everyone. Currently, to get access to ChatGPT 4, you have to pay a subscription every month. Here in Canada, we should see the rollout this summer.

When I’m talking to realtors about artificial intelligence language models, they mainly talk about ChatGPT. The reality is that AI has exploded since late 2022 with close to 12,000 AI tools being developed. In the past 12 months, we’ve seen tools like META AI, Claude, CoPilot, Gemini and more each month. The most amazing part is that all of these AI language models are free to use.

What should I be using AI for in real estate?

The real estate world is constantly changing, and the reality is that we need to upgrade our skills or learn new tools to keep up. This is where AI can help! Here are just a few examples of the ways AI can assist:

Negotiation. When you’re negotiating, whether it’s with your clients or the other agent, you simply prompt the AI by saying:

“I want you to act as a real estate negotiator. I’m representing the buyers in the transaction, and we just received a counter of $20,000 above our initial offer on the property. The counteroffer put the price right at the fair market value. Can you provide me with three different scripts I can use to speak to my buying clients to say this counteroffer is exactly the fair market value of the property?”

Social media posts. It can be challenging to consistently create new and engaging social media content. Try prompting AI with the following:

“I want you to act as a real estate social media marketing expert. Create three social media captions that target first-time homebuyers. I want the captions to be engaging and witty. Also, include in the caption emojis, hashtags and an image prompt that’s related to the caption.”

Real estate coach. Did you know that you can now have a verbal conversation with the ChatGPT app? Now you can ask ChatGPT to be your real estate coach. Here’s a great example of a prompt that I use to coach me:

“I want you to act as a real estate coach. Grade me on the opening of my listing presentation. I want you to listen to the quality of the content for a listing presentation, plus my energy, cadence and anything else. Let me begin…”

Final words about artificial intelligence

Engaging with AI in real estate isn’t optional — it’s essential for staying competitive. By automating tasks, AI empowers agents to focus on relationships and complex decisions. Don’t wait; embrace AI now to streamline operations and enhance client interactions. The future belongs to those who adapt and innovate with this technology.

The real estate sector is undergoing a transformative shift, driven by technological advancements collectively referred to as “proptech” (property technology). These innovations are reshaping how we live and work, emphasizing sustainability, data-driven decision-making and adaptability to new lifestyle preferences.

Insights from industry experts Philip Major, investor associate at R-LABS, and Lynette Keyowski, managing partner at NAR REACH Canada, shed light on the evolving landscape of proptech and its impact on both residential and commercial real estate.

Adapting to new lifestyle preferences

Post-pandemic, the rise of remote work has significantly altered residential and commercial real estate demands. Major observes, “Remote work can alleviate density and affordability issues in urban areas. On the commercial side, the winners will be those who can optimize unused spaces.” He cites LOFT, a company offering flexible office spaces throughout cities, as an example of how businesses can adapt to these changes without relying solely on central business districts.

However, converting commercial spaces into residential areas, although a popular idea, poses significant logistical challenges. “It’s not always feasible or profitable,” Major notes. Instead, there’s a trend towards luxury rentals and condominiums that incorporate amenities such as daycare centres, restaurants and other services directly into the building, catering to the evolving lifestyle preferences of urban dwellers.

Sustainability and energy efficiency

The drive for sustainability is becoming increasingly prominent in real estate, particularly in commercial properties. “LEED certification will continue to be a major trend, driven by tenant demand,” says Major. Tenants with strong Environmental, Social and Governance (ESG) initiatives are likely to prefer sustainable buildings, which can influence property values and development costs.

In this context, companies like Measurable, which tracks carbon emissions, are becoming essential. Developers are now considering the entire lifecycle of buildings, including end-of-life recycling options, to enhance the sustainability of projects.

Leveraging data and AI

Data-driven decision-making is revolutionizing real estate investment and management. Keyowski highlights a significant trend in the 2025 REACH Canada cohort: “AI is being leveraged to reduce costs, automate routine tasks and enhance backend processes.” This trend spans across the industry, supporting the personalization of real estate services, from property valuations to virtual tours.

Keyowski also mentions the “Netflixization” of real estate, where data is used to tailor user experiences. This trend makes the homebuying process more interactive and personalized, improving how consumers engage with listings and agents.

Major adds, “Commercial real estate will move slower to adopt AI compared to other industries, but this won’t stop AI from happening.” He highlights how companies like Hatch are acquiring AI-driven platforms such as Brainwave’s Mosaic to help developers understand zoning regulations and other complex data points. “It’s about pulling in multiple points of data, like zoning and school capacity, to centralize information and optimize property investments,” Major explains.

He also sees potential in AI democratizing the development process: “It could reduce costs and make the process more accessible, although the extent of this democratization remains to be seen.”

Addressing housing affordability

Affordability remains a critical issue in the real estate market, and alternative financing options are emerging as a solution. Keyowski notes, “Along similar lines, we have been seeing a surge in the number of ‘alternative financing’ options come to market. With affordability at all-time lows, these are just beginning to hit the radar of the industry but aren’t anywhere close to top-of-mind for the average consumer.”

These tech-enabled solutions aim to keep borrowing and administrative costs low, offering diverse options from Halal mortgages (Manzil) to creative down payment financing (Ourboro) and leaseback home purchases (Requity Homes).

Under-the-radar innovations

Despite widespread technological advancements, some tools remain underutilized by the broader public. Keyowski explains, “There are many backend tools, like online MLS systems and showing suites, that facilitate seamless real estate transactions.” These tools often go unnoticed by consumers but are crucial for the industry’s efficiency.

Moreover, there are innovative solutions not yet widely adopted but with the potential to streamline the homebuying process. Keyowski points to digital mortgage platforms and offer transparency tools, which can make real estate transactions faster and more transparent. “These tools expedite the process, but the industry is often reluctant to adopt them,” she adds.

Challenges and opportunities for traditional real estate players

Integrating new technologies into traditional real estate models presents challenges. Keyowski emphasizes the importance of understanding one’s value proposition: “Real estate is a relationship business. The clearer you are about your value, the more efficiently you can adopt technology that enhances that value.”

AI, while promising, introduces both opportunities and uncertainties. “On one hand … AI is allowing more to be done with less (and in less time). Real estate is about relationships … but it’s also about volume. This has the potential to create more competition among agents: for eyeballs, for listings, for differentiation, for partnerships and more. The ability for agents to reach their audiences faster and more effectively could impact business models and market share,” Keyowski notes.

However, the industry’s slow pace of change and potential regulatory hurdles may temper AI adoption. “On the other hand, there is no knowing (yet) how the space will be regulated, if at all. As it always does, this could certainly impact the rate of adoption — or even temper adoption until those frameworks are clearer. This is not an industry that moves fast at the best of times!”

Consumer readiness for change

One significant shift is the consumer’s readiness for digital transactions. A decade ago, some consumers were hesitant to put their credit cards online or engage in online banking. Now, it’s considered standard. The consumer in real estate has similarly evolved, having become extremely comfortable transacting digitally where there’s an element of immediacy. As Keyowski observes: ‘’I see what I want, I can access as much information as I deem necessary and I can make a decision and execute in almost everything.”

However, real estate transactions remain cumbersome and opaque. Keyowski illustrates this with a common scenario: “As an example, what the heck DOES happen to that agreement for purchase once you’ve signed it and “sent it back” to your agent? Who sends it to my mortgage broker? How’d the lawyer get involved? Didn’t they say you’d see the deal back in two days? It’s been a week …”

Proptech solutions are addressing these issues by providing transparency and efficiency throughout the transaction process.

Embracing the future of real estate

The proptech revolution is fundamentally changing the real estate landscape. From optimizing unused spaces and enhancing sustainability to leveraging data and AI for better decision-making, these technologies offer significant benefits. However, the industry’s traditional players must navigate challenges related to technology adoption and value proposition clarity to stay competitive.

As Major aptly puts it, “Darwinism is alive and well in real estate.” Those who adapt and innovate will thrive in this new era, while those who resist change may find themselves left behind. The future of real estate lies in embracing proptech to meet evolving demands and create more efficient, sustainable and personalized experiences for all stakeholders.

As artificial intelligence (AI) becomes more readily available with widespread uses, the housing industry is looking at ways it can help agents and clients alike.

While there has yet to be an industry-wide mandate or initiative when it comes to AI, some agents have begun to embrace the technology, seeking ways to make work more efficient while also testing the limits of what it can currently do.

Cloning tool for lead-response videos

“It’s exciting and scary at the same time,” says Tom Storey, sales representative with Royal LePage Signature Realty, who has been using AI to create and enhance content and advertising materials. He conveniently has it as an app on the main screen of his phone.

Storey sees a lot of potential in using video generators such as HeyGen to connect with potential clients and send updates and timely information throughout the buying process.

“You can automatically have an auto-generated version of yourself reach out and introduce yourself,” he explains, adding that AI allows for personalization so that you can have the right name and phone numbers in the video.

Storey is referring to HeyGen’s cloning tool, in which you can create videos with your likeness and voice without having to actually perform in front of the camera each and every time. He feels the technology is close, but not quite there yet. “I wouldn’t feel comfortable yet sending an AI twin of me as an automation.” 

“That’s where I think it is really going,” he continues. “With a lot of the online leads, just how you can personalize an interaction is going to be mind-blowing.”

ChatGPT for marketing materials and feedback

While video generators look promising, there are plenty of practical AI uses taken up right now. Asif Khan, broker/owner at Re/Max Prime Properties, employs ChatGPT to help hone marketing materials and provide feedback. “A lot of our agents are using it as a ghostwriter and guide,” he says. “They use it for marketing and advertising pieces and virtual assisting, rather than relying on AI to simply replicate or duplicate.”

“Most of our team leaders are using it; they realized it’s something that can assist them and help clients to move forward, like any new technology. “

‘You really have to know what you’re asking for’

Both Storey and Khan admit there is a big learning curve, and most agents are learning on their own or in small groups. “I’ve definitely used it to create marketing pieces based on the web, but you’re going to get out of it what you put in,” says Khan.

“I create graphs or marketing materials, and then tweak results to form more of what the final product will be. You always have to add in the human element, take out stuff that isn’t relevant, make it so that it’s accurate.” But, “You really have to know what you’re asking for,” he cautions.

Like Khan, Storey finds AI useful in making tedious work a lot quicker and easier. ChatGPT, for example, can write video summaries and index longer content to make it more user-friendly. “I use ChatGPT like I used to use Google. I ask questions, and I’m using it a lot to get content ideas. It could write a script for the video.”

The hope: Help prospects better choose the right agent and buyers get insights and stats

While the technology is still relatively new, the hope is that by creating more easily accessible personalized interactions and content, potential clients will be better able to pick the right agent and make more informed choices faster. Prospective buyers can also use AI to find up-to-date market trends, statistics on a particular neighborhood and even predictions.

For pre-construction properties, Khan foresees the ability to create walkthroughs for clients before the finished space is ready.

“It’s so new, we’re still learning where we can use it appropriately,” he says. “We’ll see where it’s going to benefit us most, go through the next year or so, clarify that, and apply it.”

Neither sees any big problems for AI in the market at the moment, though they admit that’s in part because it doesn’t seem too popular right now. Khan also points out that the learning curve helps to differentiate those who have taken the time to understand AI best practices and those who are cutting corners. 

A tool to enhance rather than replace jobs

The pair also sees AI as a tool for assisting positions instead of an entity that will replace positions.

“I think the big fear is that it’s going to replace people,” says Khan. “But we’re finding out now it won’t really eliminate positions, but it will allow people who use it to help with marketing and creating graphics and charts.”

“It won’t replace your admin,” echoes Storey. “It’s a tool. There are some ways you can use it, and for me, it’s very clear. It simplifies my content creation and allows me to meet new buyers and help sellers sell.”

Openn Offers is a technology platform that helps realtors manage and negotiate offers efficiently, while also maintaining compliance with local regulations and ensuring a fair process for buyers and sellers.

It also integrates with realtor.ca and the Canadian Real Estate Association’s web forms, helping agents publish information about received offers directly to their listing page on Realtor.ca.

In Australia, the company has about 5,000-6,000 agents certified to use Openn, 139,000 users and over $9 billion processed in property sales, it’s gaining more traction these days with Canadian realtors. Openn is active in three countries, “with a fourth being added imminently,” Sean Adomeit, Openn’s CEO, notes.

Full steam ahead in Canada

“We are very early in our Canadian journey, which presents Canadian realtors and brokerages with the opportunity to take the leadership position in their local marketplaces,” Adomeit says.

However, Openn has a growing community of “enthusiastic Canadian users, including enterprise-level commercial agreements signed with large brokerages, some of whom are developing their own complementary internal technology to further streamline their offer management process,” explains Adomeit. “This is a huge vote of confidence in what Openn brings to the market and, like all of our clients, we will be partnering with them to drive results.

What do Canadian realtors think?

Jason Finlayson, a realtor with Pemberton Holmes in Duncan, British Columbia, says he has been using Openn for the past year and that he’s always open to new ideas when it comes to real estate. 

“If it makes a little bit of sense, I’m willing to give it a try,” he explains. “I could see there were going to be some benefits with this program. I was curious.”

“When the market was ultra hot and pretty much anything we listed was in multiple offers, I really wish it was in my hands at that point. Unfortunately, by the time I got my hands on it, multiple offers were far fewer. We don’t really see many of them today in my market. We’re sitting on Vancouver Island essentially in a balanced market between buyers and sellers.”

As a result, Finlayson finds he uses it less than it’s intended for (multiple offer situations that allow other buyer agents to see where they stand) and that he “hasn’t been able to let it loose and use it to its full potential.”

He says the Openn system can streamline and facilitate the whole process of multiple offers. At the seller’s discretion, a realtor can open up the transparency and publish the offer price, so parties involved know where they stand as buyers rather than blindly bidding up an offer.

“Now, for as long as that offer is open for acceptance it almost evolves into an auction,” says Finlayson. “The multiple aspect in the heated market is one aspect of using it.”

Helps determine market price

He also points out another use case for Openn is the other end of those hot markets: “In a steeply declining market where prices are going down quickly if you get an offer that’s, say, lower than your seller’s expectation, (you can) say ‘this might actually be the best offer in today’s market and there is a way that we can somewhat test that theory (by) asking the buyers to give us a week with the offer, and we’re going to publish the price.’

And if no one else shows up to the table after I’ve marketed it at that price, then we can reasonably assume that is the value of the property in today’s market.”

Generates buzz

Jake Russel, a realtor with Royal LePage Downtown Realty, in Vernon, B.C., has been using Openn for about a year. He sees the value in it but says realtors in general are pretty slow to change.

“I think it’s a great tool to show some transparency to let everybody know that there’s an actual offer instead of verbally saying it,” he says. “You post it so that agents see it and the public sees it on realtor.ca … You don’t have to show price. It’s great for a seller because you’re getting people excited, maybe they want to jump into the negotiations … It potentially creates a buzz.”

Russel notes that realtors can also toggle the transparency options for price and conditions, depending on how they choose to treat the scenario. Though he hasn’t officially closed a deal with Openn just yet, he’s successfully used it on a few listings.

“It helped display that offers had been received but were not successful. On one particular listing, I revealed the last offer value, which generated a few more inquiries for my sellers.” (Russell explains the sellers had a short window to sell and pulled the listing off temporarily).

Automates communication and enhances negotiation ability

Adomeit points out the platform has many benefits for realtors: “Openn automates communication between agents, sellers and buyers, making it very easy for the realtor to keep everybody notified about important changes. For example, if a new offer is made, or an existing offer is improved, relevant buyers, sellers and agents are updated by the system in real-time.”

He explains that at the seller’s discretion, the listing agent can enable buyers and observers to see information about competing offers, including details about their price, which traditional offer-making processes or past legislation have prohibited.

Since the realtor can share these details, their ability to negotiate on behalf of their client is enhanced. “Sharing offer information with the market allows the true market value of a property to reveal itself more efficiently, so properties sell faster. In strong markets in Australia, Openn campaigns sell about 30 per cent faster than traditional campaigns, and when the market is slow the difference is even greater, which realtors obviously love,” Adomeit points out.

A way to win more business

On top of this, Adomeit says that realtors who use Openn become skilled at explaining its advantages to potential clients, which helps them win more business. 

By enabling the “observer feature”, Openn allows realtors to build an audience around their campaigns. Observers see the work being done by the agent, so it’s a tool for realtor self-promotion and lead generation, too. 

“A significant number of observers go on to sell their property with a broker using this system by virtue of the results they’ve seen it can achieve (speed, price, efficiency, transparency),” he explains.

“Peace of mind that the selling process is being conducted fairly”

Adomeit also says consumers get peace of mind that the selling process is being conducted fairly, which has been a long-time complaint aimed at the real estate industry.

“Every realtor has, at times, had to console a buyer who would have offered more for a house they loved, if only they’d known the price they needed to offer. The buyer is devastated, and the seller (often unknowingly) has missed out on achieving the best price for their home. For agents who use Openn, this doesn’t need to happen ever again.”

In true December fashion, let’s focus on the trending holiday sounds and templates!

If you’re new to Instagram Reels, check out our article, Instagram Reels 101: Your ultimate starter guide.

Hear those sleigh bells jingling

You can use this Reel template and trending sound in many different ways. Show off your latest listing, your area covered in winter snow, a local holiday event, your team putting the finishing touches on office decorations or staging a home. Get creative!

What you’ll need: For this Reel, you’ll need 17 short clips ranging from 0.7 to 0.9 seconds.

How to make it:

Step 1: Tap here to view the Reel on Instagram.

Step 2: Tap “use template” to get started.

Step 3: Input your 17 short clips in the order you prefer.

Step 4: Tap “next”, then input your caption — keep it short and sweet with a clear call-to-action (CTA).

Step 5: Select “edit cover” to either add your own cover or select a moment in the video you’d like to use as the cover image.

Step 6: Scroll down and tag your location so the algorithm shows your content to people interacting with content in the same area.

Step 7: Hit “share”.

Views: 205K
Source: reclaimedinspiredgoods

Family dinner

Set the table — the whole family’s coming for dinner! Does your new listing have fantastic entertainment space for the whole family to enjoy during the holidays? Dress up the dining room and show potential buyers what their holiday get-togethers could look like.

What you’ll need: One to two videos lasting a total of five to 10 seconds.

How to make it:

Step 1: Tap here to view the Reel on Instagram.

Step 2: Tap the Reel sound at the bottom left of your screen, then tap “use audio”.

Step 3: Input your video.

Step 4: Tap “next”, then input your caption — keep it short and be sure to mention the fact that it’s for sale, with a CTA.

Step 5: Select “edit cover” to either add your own cover or select a moment in the video you’d like to use as the cover image.

Step 6: Scroll down and tag your location so the algorithm shows your content to people interacting with content in the same area.

Step 7: Hit “share.”

Views: 346K
Source: studio__billie

The 2023 season comes to an end

What you’ll need: 14 short clips of the beautiful homes you sold, fun team events you hosted, your favourite local spots and anything else that made this year awesome.

How to make it:

Step 1: Tap here to view the Reel on Instagram.

Step 2: Tap “use template” to get started.

Step 3: Input your five videos in the order you prefer.

Step 4: If you’d like, you can add text at the center or top of your video along the lines of “2023 was …” or “the best of 2023”.

Step 5: Tap “next”, then input your caption — keep it short and sweet with a clear CTA.

Step 6: Select “edit cover” to either add your own cover or select a moment in the video you’d like to use as the cover image.

Step 7: Scroll down and tag your location so the algorithm shows your content to people interacting with content in the same area.

Step 8: Hit “share”.

Views: 379K +
Source: envisionstockmedia

POV: You are home

This Reel doesn’t have a template, but the trending sound from The Holiday is brand-spankin’ new, so jump on it! I’d follow this creator’s lead and start the video by welcoming your audience through the front door.

What you’ll need: Five to 16 video clips of your latest listing. Focus on the best areas of the home.

How to make it:

Step 1: Tap here to view the Reel on Instagram.

Step 2: Tap the Reel sound at the bottom left of your screen, then tap “use audio”.

Step 3: Input your four video clips in the preferred order.

Step 4: Add this text to your video “POV: You are home”.

Step 5: Tap “next”, then input your caption — keep it short and sweet with a clear CTA inviting people to learn more about the listing or to book a private showing.

Step 6: Select “edit cover” to either add your own cover or select a moment in the video you’d like to use as the cover image.

Step 7: Scroll down and tag your location so the algorithm shows your content to people interacting with content in the same area.

Step 8: Hit “share”.

Views: 353K
Source: chloecleroux

Jazzy holidays

What you’ll need: About six videos of a specific room in your latest listing. For example, show off every angle of the kitchen and its features.

How to make it:

Step 1: Tap here to view the Reel on Instagram.

Step 2: Tap “use template” at the bottom left of your screen.

Step 3: Input your clips in the desired order.

Step 4: If you’d like, you can add the title “Spend an evening in [AREA]”.

Step 5: Tap “next”, then input your caption — keep it short and sweet with a clear CTA.

Step 6: Select “edit cover” to either add your own cover or select a moment in the video you’d like to use as the cover image.

Step 7: Scroll down and tag your location so the algorithm shows your content to people interacting with content in the same area.

Step 8: Hit “share”.

Views: 84.2K
Source: salinamariahome

Are you finding our Reels for Realtors articles helpful or inspiring? We’d love to get your feedback, and please don’t hesitate to ask any questions you may have. Drop a line in the comments below.

Happy holidays!

The rising tide of technology has left few industries untouched, and real estate is no exception. From customer relationship management (CRM) systems to enhanced property search, data analytics and artificial intelligence (AI) tools, technology has revolutionized the way properties are marketed, sold and managed.

But the most pervasive changes can be seen in the client experience — a space where automation has enabled a wider gap in human connection.

Two sides

On one hand, buyers and sellers have more power than ever. Automated search tools allow consumers to have a constant eye on the market, social media provides a near-endless resource of market insights and virtual reality allows buyers to get a feel for a property without ever setting foot inside.

On the other hand, many of the touchpoints that allow consumers to build trust with agents and brokers have moved online, leaving some to worry about gaps in the customer experience.

“As a team leader and coach, I’m seeing lots of agents rely too heavily on their CRM. Not to say we shouldn’t utilize automated campaigns to nurture our sphere of influence, but I think it is becoming a crutch,” says Courtney Atkinson, owner of the Alberta-based Atkinson Team at eXp Realty.

“I think it’s great we can be more efficient (using these tools), but it can be a potential letdown for consumers when they come face-to-face with an agent who has structured their persona in a way they can’t maintain in person.”

Risk of becoming “too operational and not intentional”

Stephanie Soave, an Ontario-based broker, echoes Atkinson’s concerns, noting that while tech can be used to enhance the client experience, a delicate balance is required to maintain trust.

“We have to remember that we’re asking for a family to make the biggest transaction of their lives. That takes less tech and more time to move them along their journey,” explains Soave. “The tech piece can keep us too operational and not intentional.”

The urge to be more reliant on tech may be a sticking point for younger, up-and-coming agents in particular.

Tony Joe, broker/owner of Prime Real Estate Properties and instructor for the British Columbia Real Estate Association, says he often sees young agents thrive in online engagement, only to struggle when closing deals.

“Technology and social media are great if the consumer wants to know more about you. It’s not necessarily great at closing the deal,” says Joe.

“When the markets were crazy two years ago, of course, social media was working — real estate was a race. As we transition back to a more normal market, it’s a matter of using these tools differently to yield results. Business isn’t dropping into our laps anymore. These are the moments that remind us that face-to-face is very important.”

Honing the art of conversation

So, what can agents and brokers do to hone the art of conversation and maintain that human touch in every interaction?

Joe notes that it’s important for agents to understand the value humanness brings to transactions in particular.

“From a regulatory standpoint, when sending things electronically, the consumer knows what they’re signing. Technology can’t replace what we are obligated to do,” Joe points out.

Atkinson adds that agents and brokers have a tremendous amount of control in today’s market so long as they take the time to truly understand their clients.

“If we as agents can communicate with people in truth and integrity, what I know to be true is that many can be compelled to get off the fence and into action so long as they feel safe,” Atkinson explains.

“So, what if we asked better questions and sought a deeper understanding of our clients’ situations? What if we better understood their motivation and helped to unpack them in a way that’s meaningful? These crutches make us feel like we can sit back and wait for the business to come to us, but the reality is we have to open the doors and invite people in.”

Staying relevant and valuable

Similarly, Soave notes that more isn’t always better when it comes to tech. Information overload may distract consumers from their own needs and wants.

“Consumers are getting inundated with information. It’s up to us to question what it is they’re looking for and help them navigate the journey by being the experts — not relying on ads to sell them,” she notes.

“We can actually become replaced if that’s how we’re running our businesses.”

Simon Fiore wasn’t trying to disrupt the real estate industry when he was sitting in his office at Re/Max Associates in Winnipeg back in 2017. He was simply another realtor struggling with the task all realtors dread doing the most: filling out FINTRAC paperwork.

A consistent lag

If you’ve closed real estate deals recently, you’ve likely dealt with FINTRAC (Financial Transactions and Reports Analysis Centre of Canada) forms. They are a specific set of paperwork required to be completed to help combat money laundering and terrorist activity financing in Canada.

Susan Scott, who managed sales, compliance and conveyancing at Fiore’s brokerage during this time, would often ask Fiore and the other realtors for their FINTRAC paperwork, as it lagged behind well after transaction papers were submitted.

“I was like many agents struggling with these forms and not handing them in in a timely fashion,” says Fiore.

One day Fiore said to Scott, “One of these days, Sue, I’m going to create a FINTRAC app.”

She simply responded with, “Go for it.”

The rest is digital history.

There’s an app for that

Fintracker is an online tool designed to assist real estate agents by automating the process of completing FINTRAC forms.

“I decided that I wanted to streamline this process and automate it all. So, we started off simply trying to solve this for my little brokerage here in Winnipeg, which then led us to listening to compliance officers, agents and other experts across the country, evolving the app to what it is. Today, it’s a one-stop-shop solution,” explains Fiore.

Fiore took a leap of faith when deciding to leave his successful career as a realtor in order to pursue developing Fintracker, in the hopes of solving this problem for the industry. But, trying to convince real estate agents used to the same industry practices for years to try and use a new technology wasn’t easy at first.

“The first three years were very discouraging, as nobody wanted to pay attention. Then, we signed the Barrie Board (BDAR) and they were the catalyst for board-level clients. During the pandemic, Fintracker became in high demand for its ability to identify non-physically present clients with a remote ID process.”

Eventually, other realtors started coming around to Fiore’s vision.

Getting buy-in

Leonard Howell, broker of record at Sam McDadi Real Estate in Mississauga, was an early adopter of the technology.

“When I saw the product, I thought, ‘this can make life a lot easier for our agents’,” states Howell. “Having a tool that makes things easier, I was all-in, it was a no-brainer. Now, I can tell which agents are using the Fintracker app and which ones aren’t based on the paperwork that’s coming in.”

Karen Yolevski, chief operating officer of Royal LePage Real Estate Services agrees.

“FINTRAC is one of those areas that is inherently complicated. There are a number of forms, a number of questions. Sometimes the information requested can be quite onerous, to both the realtor and the consumer,” explains Yolevski.

“Fintracker took the issue of FINTRAC forms and information gathering and created a process flow that’s easier to follow and harder to make a mistake in; much less onerous to deal with than paper forms.”

What’s next

So, what does the future hold for the relationship between real estate and technology?

“When I first started with Fintracker, I was the least tech-savvy agent in the country,” says Fiore. “That’s why I wanted to create a tool that was not only easy to use but made sense to the average realtor. But, what I’ve been seeing and what I’ve learned in the last six years of working with the tech space is that AI and technology are going to eventually have a very competitive product against the agent.”

Don’t worry – this doesn’t necessarily mean that a robot will be selling your next home anytime soon.

“Something that AI and technology will never replace is agents,” says Fiore. “So, I think technology is always going to try and replace us, but one-on-one and face-to-face interactions, gaining trust and building relationships are still the keys.”