Real estate agents in the financial services sector play an important role in sustaining the business. Financial services include broad sub verticals like – banking, insurance, and investment funds companies where their crucial role like building relationships and getting business volumes cannot be underestimated. financial technology influencers traits
Personalized sales are the approach set by agents and brokers for decades. They carry a lot of information on products, markets, and prices. But following the IoT, big data and analytics arrived to the middle level, it became imperative for agents and brokers to stay relevant. The mobile customers supported by mobile workforce of businesses are posing existential threats to brokers. Many may question – is this the end of the trail for brokers and agents?
Economic services honchos may consider eliminating the role of agents attracting new leads with reduced premium or discounts. But wait somewhat more before you send the execution order as they have the firepower still. It is into this area focused review is required.
Can Real estate agents Stay Relevant?
Now problem before us is, are agents and brokers relevant? First of all they may have time analyzed relationship with a huge quantity of accounts whom they assiduously nurtured. Today, the brokers themselves are mobile and know the THAT tools to nurture their audience. With the help of IT software on the mobile they go for client acquisition faster. In this process, they:
– Contact their prospects and educate them about the products.
– Provide valuable pieces of advice on most feasible product for them.
– Assess the performance of securities.
– Build relationship after gaining an understanding on every aspect of customer relationships.
All of us are coming to the important aspect. Today technology obsolescence is making the role of agents unimportant. To some extent it is true if the mobile customers make a total shift from brokers and have direct connection with the company. Although the question is how feasible is that idea. We all know in our busy schedules, providing priority be it paying premium or buying stocks and options might not exactly be appealing to all with a few exceptions. The reason lurking behind this is people are not that self enthusiastic and agents step into this gap with the marriage nurturing skills.
In areas like spending money people are little scary as well as slow decision makers. This cannot be construed as weakness but in fact it is wisdom as sensible ones do lot of research and thinking before they take the plunge. What can we learn from this for the financial services sector? Financial sector services may be excited about IT tools which helps the customers to adopt informed decisions. But what is the exact circumstance? People will perform all research with the various tools on mobile but many will be unlikely to take the ultimate purchase decision because there is a purpose for a resource person to offer relevant and contextual information concerning products and services. This kind of should be followed by the ability to close the offer once the curiosity level is increased to the highest. Who are able to replace agents or broker agents who had been doing this for decades?
Consequently, now the readers might have understood the value of agents in getting the deal. Getting business is not an normal deal. It takes a great deal of effort, regular follow up on clients to arrive at a decision. Just SMS alerts will not do the trick. Described this, let us consider the way the agents can be used creatively with technology in this era of technology disruption. We also need to consider how agents can be stimulated with technology and how.