William Blake said, "What is now proved was once only imagined."
Entrepreneurs by nature have to be forward-thinking. Roy Dekel, CEO and co-founder of SetSchedule, exudes the passion and drive of a lifelong innovator. While many small businesses are struggling due to the COVID-19 pandemic, the difficult climate can bring opportunities for the right businesses that solve a problem.
"These are challenging times of national crisis, yet we are seeing that there are opportunities in the real estate market to help business move forward in new ways. We are persevering and helping to bring about a much-needed digital transformation," Dekel said.
It's the problem-solving spirit that brought Dekel to launch his startup in 2014, along with co-founder Udi Dorner. Dekel describes an epic brainstorming session where the two sought to map out the real estate business using sticky notes and whiteboards, finding ways where technology could bring efficiencies.
SetSchedule was born from turning their backgrounds in business, technology, and real estate into a platform-based solution that continues to evolve to meet customer needs. Its primary focus is to create efficient connections between interested home shoppers and sellers and real estate professionals.
In addition to this core function, there are a host of tools that make daily operations easier for real estate professionals. "When you look around, other industries are making use of technologies like machine learning, artificial intelligence, and big data. Why shouldn't real estate capitalize on these tools?" Dekel said.
Sometimes it seems like Facebook and Google know what consumers want to purchase before they even know themselves. Data-based tools can bring similar transformations to the real estate market.
More than ever, in times of COVID-19, small businesses can be successful by understanding a problem and then working to solve it. This could involve creative or even simple solutions.
In some cases, the right technologies already exist. It's just about bringing them together for the user in an easily accessible way. SetSchedule prides itself on the ability to address the gap between real estate professionals and consumers with a suite of SAAS products.
"Not all professionals in the real estate space are created equal, and not al real estate matches are a fit, but if you take technology and pair it with high-end concierge services, you find a system that increases positive engagement and saves consumers time and money," Dekel predicts. You can read more about how top real estate agents are adapting to current COVID-19 conditions in a recent Forbes interview.
A few years ago, virtual home tours and on-demand 3D viewings were reserved for the luxury market. Under COVID-19, these have become widespread practices. Realtors are even holding virtual open houses like the free software used by SetSchedule users. Using creative methods, sales are still happening, even with all that's going on in the world. Life is finding a way to continue.
No one knows exactly how long the COVID-19 crisis will last, but chances are we'll be a changed world on the other side of it.
COVID-19 likely isn't the last challenge we'll see as a nation or on a global level. There may be other pandemics, natural disasters, or conflict threats, to name a few. Those that are most able to operate remotely and adapt quickly will be able to withstand business roadblocks that come up.
Using digital tools doesn't mean the people-centric aspect of real estate goes away. In fact, these tools can make service even more specialized, bringing benefits to clients. The world is getting accustomed to working from home as a new standard, so it will not feel so strange to meet your realtor through a screen.
Similar industries have seen vast transformations in recent years. The car-buying experience has shifted online with roaring success. Online technology and clothing retailers are resulting in the closure of brick-and-mortar shops, some of which have been institutions for decades.
These examples are sending strong signals: catch up or be left behind. According to Dekel, there's still time to ride the digital wave in real estate. The industry that was in many ways lagging behind (paper checks anyone?) is now roaring through an accelerated transformation.
In today's day and age, clients are going to want a real estate professional who is familiar with digital tools and uses them regularly. The early adopters were already ahead of the curve when COVID-19 hit, not having to scramble as much to adapt. But there is still time for the rest to catch up.
Winston Churchill said, "If you're going through hell, keep going."
On the other side of the pandemic, more adaptable and resilient professionals will persist. Companies are investing in IT and software at higher rates as a result of COVID-19, pointing to the importance of digital tools. COVID-19 is also pushing regulators to remove some roadblocks to digitization, such as rules that had previously stood in place of electronic notarization.
Digital anthropologist Brian Solis describes how digital tools can enhance customer experience, as long as they are human-centered. "The best stories are always human. Understanding their reality, goals, and aspirations gives purpose to the most meaningful strategies and roadmaps," he explained in a recent interview.
He describes the novel economy of the future emerging post-COVID-19. "This is the time for a new vision to stay alive, survive, and then thrive in the next normal."
According to Dekel, the real estate market is no different. Digital tools can enhance the networking and communication that are essential to smooth real estate transactions. Digitization doesn't reduce the human component-it improves it. We're seeing that in the short-term already, and there are opportunities to keep iterating as technology gets folded into the real estate process more and more.
Innovators like these are leading the charge for a revamped real estate market that can endure after the COVID-19 pandemic.
