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Today, agents spend around 10% of their commission income on marketing investments. These costs often include a blend of digital and physical marketing services. Given the significant investment realtors need to make to grow their audience, finding solutions that effectively convert is essential to maximizing dollars spent.
In this piece, we discuss how the adoption of omnichannel solutions in the real estate industry enables agents and brokerages to improve client experiences to successfully convert buyers and sellers. The real estate industry is catering to the millennial market, as they make up the largest group of homebuyers. The growing preferences of real estate audiences has been leading this technological transformation and greater investment in proptech solutions, such as AR/VR capabilities, streamlined data and CRM collection, and personalized websites, are expected to become more mainstream.
QR code technology transforms traditional marketing methods into tech-savvy experiences that meet the growing millennial audience where they are. Flowcode's QR technology supports this translation with our comprehensive solution for consolidating CRM platforms, capturing first-party data, and facilitating instant real-world engagement.
Today’s agents invest in various strategies, both offline and online, to harness more traffic for listings and leads. On average, the combined cost per lead for strategies, ranging from lawn signs to Facebook Ads, is approximately $29.40, varying greatly depending on medium, property types, and markets. However, the conversion rates for these traditional marketing strategies hover around 5.13% on average.
real estate is in the midst of a much-needed tech renovation to catch up with other sectors. This evolution starts with re-imagining how property marketing can better attract and convert audiences by making information and connections readily accessible from various touchpoints. A shift is being driven by the need to (1) enhance the client-tenant experience throughout the property lifecycle and (2) gather better insights into properties for more effective decisioning.
QR codes are undoubtedly making waves in the real estate industry by facilitating rapid connections for thousands of real estate agents. By bridging the gap between offline and online platforms, QR use cases are limitless. Real estate businesses can choose from a massive array of activations, including directing audiences to promotions, property listings, surveys, contactless open house check-ins, tour bookings, and much more. Flowcode sits at the forefront of the QR revolution, helping real estate businesses harness the power of these digital innovations.
As with any business, the real estate agents are expected to keep up with shifting landscapes while catering to their increasingly tech-savvy clientele. Millennials, the largest group of homebuyers, have been driving the market for over a decade, and their reliance on technology and online resources is reshaping the way real estate is bought and sold.
Millennials comprise the largest group of homebuyers in the real estate industry. FinanceOnline reports that they have consistently been the leading demographic of home buyers since 2010. In 2023, they’re expected to make up 55% of the real estate market. As such, real estate businesses are putting their focus on millennials’ needs and preferences.
Naturally, tech-savvy millennials rely heavily on internet research before committing to a property buy. According to recent statistics from New Real Estate Trends & Forecasts, 44% of new homeowners first discover information about properties for sale online. And in 2021, a remarkable 73% of buyers used mobile or tablet search devices to facilitate their purchases.
Optimizing experiences for omnichannel shoppers is a quick way to cater to these needs, but can be drastically improved by connecting these experiences to physical collateral.
The key to driving action from marketing materials lies in the rapid connection to information. Traditional offline collateral such as lawn signs and direct mailers remain key resources for acquiring interest, but need to be optimized to enable instant and frictionless connection to information. Typing in a phone number or website doesn’t create a seamless experience for prospects and often fails to meet them with an easy one-click way to take action to get in touch.
Today’s agents invest in various strategies, both offline and online, to harness more traffic for listings and leads. Combined, strategies from lawn signs to Facebook Ads have an average cost per lead of roughly $29.40, varying greatly depending on medium, property types, and markets. This said, industry conversion rates hover around 5.13% on average.
Another noteworthy trend among millennials is their preferred method of communication. Text messaging is the primary go-to channel for expressing interest in a property, asking additional questions, and booking appointments.
Making contact instantly available from any surface enables real estate professionals to meet shoppers halfway. As the real estate industry continues to evolve and embrace technological advancements, professionals will benefit from improved efficiency through automated and consolidating solutions.
With customized QR codes, Flowcode backs real estate businesses with a seriously competitive edge–converting offline marketing efforts into actionable online transactions. Trusted by prestigious real estate companies such as Corcoran Group Real Estate, Compass, Keller Williams, and more, Flowcode provides a direct solution to cater to shifting needs of shoppers. By transforming any physical marketing collateral into an omnichannel touchpoint, Flowcode facilitates seamless interactions for both buyers and sellers.
In the fast-paced world of real estate, it's essential to provide potential buyers with ample information and make the experience of accessing that information accessible. That’s why QR codes fit so well into the industry. Flowcode's QR technology provides a seamless solution by transforming offline real estate ads into sleek, information-rich portals. Imagine transforming your signs into pathways to virtual tours, photos, property features, costs—you name it. Envision an instant booking system and a method for gathering valuable contact information, along with data that empowers you to understand and retarget your prospects on platforms like Google or Meta. That’s precisely what we do.
Flowcode's real estate partners have integrated QR technology into their tried and trusted marketing strategies with ease, such as adding them to lawn signs, direct mailers, and other out of home collateral. Adding Flowcodes to these touchpoints helps marketing collateral increase performance by 40% when compared to traditional print materials. Not to mention, when compared to costly digital strategies, these enhanced omnichannel campaigns perform 3x higher than web traffic.
One striking example of Flowcode's effectiveness in the industry comes from a direct mail campaign by a South Florida real estate company. With a single agent and one QR code, this direct mailer led to three listings valued at $1.25M, $4.5M, and $7M. The results? The campaign generated a remarkable $12M worth of listing value in just one day.
Flowcode's dynamic QR technology facilitates access to an array of marketing automation tools previously unavailable, boosting efficiency and increasing revenue. By Flowcode's dynamic QR technology facilitates access to an array of marketing automation tools previously unavailable, boosting efficiency and increasing revenue. By equipping real estate businesses with the ability to track and monitor marketing engagement, Flowcode vastly improves workflows and ultimately revenue.
These codes capture the attention and contact information of prospective buyers, offering a more convenient and efficient alternative to traditional methods like websites or phone numbers. By pointing and clicking at a QR-enabled ad, buyers are much more inclined to share their contact information. Why? Because it’s easy and clear. And ultimately, more contacts means a greater likelihood of closing deals. Flowcode's companion product, Flowpage, brings these connections to the next level. These mobile-first landing pages enable agents to consolidate all important listing information, booking links, contact downloads, and even seamless CRM collection forms that can be integrated with 6+ popular CRM platforms.
The results speak for themselves: Flowcode's average conversion rates for real estate partners are exceptionally high. On average, Flowcode drives an 80% conversion rate for CRM capture on Flowpages, up to 75% call rates, and 35% click through rates on other links. Compared to traditional conversion rates for both offline and online channels, these metrics blow traditional methods out of the water. Top real estate brands have pioneered the real estate industry by adopting QR conversion suites, and with the help of these modern tools garnered successful results to stay ahead in today’s competitive landscape.
Not only does Flowcode enable better conversion results — for appointments, leads, and sales — but by digitizing these campaigns it also supports 1:1 marketing attribution from various channels, including on-premise, print, and TV. This provides advanced data insights on best performing campaigns and highlights conversions to show which channels are most effective, ultimately delivering a greater ability to attribute results and subsequently optimize budgets. All insights across offline platforms are then consolidated into data insights under one platform. Learn more about the power of offline marketing analytics for real estate in our next article.
The real estate business demands huge amounts of time marketing constantly new properties, nurturing leads, and discovering innovative ways to stay competitive. Flowcode's dynamic QR technology offers the ideal solution for streamlining these responsibilities, enabling realtors to communicate more effectively and guide buyers through the sales funnel with ease.
As buyers seek extensive information before making life-changing decisions like real estate purchases, QR codes present a simple yet dynamic method for providing valuable insights to prospects as well as to their internal marketing efforts. Simultaneously, they facilitate the collection of crucial data that would otherwise be difficult to both obtain and consolidate.
By embracing Flowcode's innovative QR technology, top real estate brands have optimized their workflows and driven better outcomes as a result. Capture these same efficiencies in your own real estate marketing endeavors by learning from the best in the business.
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