Welcome back to The Title Page!
After a hiatus, we are excited to revamp The Title Page column, providing a series of articles aimed at giving you a better understanding of the ever-evolving real estate and title insurance industry.
As we have all been forced to shift our way of thinking and how we conduct business since the pandemic began, we thought we’d start at the very beginning – touching on the importance of education and virtual learning to better serve customers in an increasingly complex environment.
In recent months, we have seen a massive digital shift across all industries due to COVID-19. From the rapid adoption of artificial intelligence (AI) and machine learning (ML), to ensuring secure transactions at every stage of the customer journey, the real estate industry is certainly no exception and continues to evolve at an accelerated pace.
With all areas of the real estate industry forced to completely change operations almost overnight, suddenly the traditional pen-and-paper method of conducting business became obsolete.
How could realtors host showings? How could lawyers sign and close deals without a physical meeting with their clients?
The industry needed to quickly learn and adapt to new ways of doing everything from day-to-day communication to executing legal documents.
Whether or not organizations were previously in the tech space, it became evident that leveraging technology to move all operations online was critical to stay competitive.
While technology enables solutions that are fast, efficient and secure, adopting these new virtual solutions can also be an overwhelming, confusing and frustrating learning experience.
Here are some of the ways you can provide education and virtual learning opportunities to help your employees and clients navigate these changes:
Emphasizing and prioritizing education
Clients shouldn’t be left to their own devices – both figuratively and literally – to navigate this learning curve.
At FCT, as real estate professionals with legal, lending, owner and broker audiences, we have a responsibility to be there for our customers every step of the way, no matter the circumstances.
Education should always be a key component of customer relations and ensuring that your customers not only have the right tools, but also the right training to support their needs.
Communicating essential information on a regular basis
As real estate is one of the fastest-moving industries, especially in 2020, hosting webinars is a great way for your customers to stay ahead of trends and simultaneously strengthen your position as an industry leader.
Webinars can be accessed anywhere with an internet or data connection, making them one of the most efficient ways for owners, lawyers, lenders and brokers alike to learn about both regional and national topics such as risk management, residential and commercial title insurance, fraud and other heightened risks in a digital world, and more.
Proactively building a solid foundation
While the real estate industry was already making strides toward digital transformation, the pandemic accelerated this movement and presented real estate professionals with an opportunity to lead with innovation.
When closing real estate deals specifically, acceptance of solutions like virtual signing and the digital movement of funds is a new reality that is here to stay.
This is why it is crucial to get ahead of trends and adopt virtual solutions like webinars and other online tools early to not only provide clients with advanced technology-driven services, but also to better position your business as an industry leader moving forward.
With the second wave of the pandemic well underway, this has never been more important. Organizations which adopted virtual solutions previously are ahead of the curve and well-positioned to continue operations with minimal disruptions.
Implementation, education go hand in hand
If there is one key takeaway from all of this, it’s that providing education and virtual learning opportunities to help customers navigate new technology solutions is equally important to the implementation of the solutions themselves.
That is where the real advantage lies, as this will ensure clients have a clear understanding of the virtual opportunities available to them.
Businesses and firms which may have traditionally been hesitant to adopt virtual solutions will also be knowledgeable and sufficiently confident to champion these tools.
Accessing, implementing and understanding virtual solutions has never been easier for both businesses and clients alike.
Over the next few months, watch this space for more insights on trends and changes as we continue to navigate a rapidly changing real estate industry.
Have any questions or comments, or just can’t wait until the next column? Feel free to send us an email, we’re always happy to have a conversation.