iSign Media Co. of Richmond Hill, Ont. has invented a five-watt, weather and waterproof smart antenna that emits signals to nearby smartphones, alerting them of the properties that are for sale nearby.
The antenna is placed on the inside of an upper floor window of a home or business that’s for sale. Pedestrians and drivers within 300 ft. will be alerted to the listing via their smartphones. They’ll be presented with the option of either declining or viewing elaborate details (through Bluetooth or Wi-Fi) about the property in question. Interior and exterior views, amenity details, video tours, broker info and other pertinent information buyers typically seek will be offered.
Moreover, a polling option allows users to leave feedback so the listing agent can gauge interest and opinions on price point and other relevant information. The antenna provides metrics on how many phones the signal reached, how many opted in, for how long and how much of the dossier they explored.
Users can also have the option of viewing other listings based on their preferences, which can range from wanting a property with a pool to living near top-ranked schools. Essentially, sales reps can interact with prospective customers whether they want to buy now or might entertain the notion later.
iSign Media Co. CEO and president Alex Romanov says this nascent product, which has also buoyed profits in other industries, is the future of real estate because of its capability to keep pace and record the fluctuating metrics listings generate. Coupled with its ability to reach more people in ways passive For Sale signs cannot, sales reps can liaise with clients about what prospective buyers like and dislike about their listings.
Romanov says sales reps are “not getting instant response data from customers and things can change quickly. I believe what this will do for real estate, because it gives real-time data, is speed up data (transmission) and the sales cycle. The whole idea is to make it more profitable because they could see what people prefer, what they want and don’t want.”
The speed with which data reaches sales reps will facilitate listing adjustments, which, in turn, can accelerate sales.
He says if, for example, a sales rep is getting interest in a property but no offers, “it allows Realtors to go in and speak to listers about price to negotiate more equitable price points. It saves time and increases traffic. And it definitely gives them an idea of how many people are stopping by the area.”
The smart antenna is quickly becoming popular in the United States, with Florida in particular leading the charge, and major brokerages already using it. While its application can flip a house quickly, it could be especially useful in a condominium building – especially in condo-dense Toronto – where multiple units are for sale, because users opting in will have access to data in equal measure.
The antennae use 12-volt connections and in addition to being mounted inside property listings, they can be installed in sales reps’ cars, which enables them to advertise listings wherever they go.
“Realtors can put it in a car and advertise because the smart antenna would broadcast their featured listings. Anyone within 300 ft. of that car would pick up messaging. Vehicles are interesting because they’re all over the place. They’re actually picking up data and responses and choices and preferences from a wider variety of people,” Romanov says.
Real estate brokerages can mount the antenna in their offices and broadcast featured listings to any smartphone within range. Commercial real estate can also benefit, he says.
“Businessmen are always driving around different areas, so whether they’re actively looking or driving through (signal ranges), they can pull up to a building and see what’s going on inside without bugging anyone in the building before they phone the Realtor.”
For information, visit the iSign Media website.
Neil Sharma is a contributing writer for REM.
