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“Automation is cost cutting by tightening the corners and not cutting them.”
― Haresh Sippy
The real estate industry is burgeoning today and demands professionals at work! Its processes are multifarious and entails the involvement of various processes, which are interlinked. This is the reason many builder firms demand outsourcing services so that their operations are centralized and performed with ease. If you have ever worked in a real estate firm or had a friend working in this industry, you may be familiar with the type of roles performed indoors. With the change over time, automation and the use of advanced technology has introduced new aspects to business performance. Real estate has transformed and now uses business process automation to entice customers.
Business Process Services giving outsourcing benefits has transformed to Business Process as a Service (BPaaS) where it uses a cloud-computing model to enhance performance, and this evolution benefits the real estate industry too. Automation with Robotic Process Automation (RPA) and Artificial Intelligence (AI) is the new pathway towards transformation and its operative use can do wonders for businesses. As a business management author said very aptly:
“Automation is good, so long as you know exactly where to put the machine”.
-Eliyahu Goldratt
With this brilliant thought, let’s check out the ways automation is thriving in the real estate industry:
How do you think workflow and automation works? Well, the tasks of real estate are managed using integrated web interface. This interface tracks your property construction, checks the progress on projects that are been worked upon, keeps an eye over property details, checks emails, renewals on assignments and much more. Automation makes managing the workload easier and even errors are minimized.
Staff workload is a major concern with construction companies and automation helps to manage it efficiently. It simplifies tasks and helps to send reminders for activities that are to be performed in the near future. It also sends reports to the managers by taking out the aggregate data, which is checked thoroughly.
Lead generation and marketing for real estate companies is significant. There are thousands of firms giving similar services, which makes it important to work over leads and marketing strategies. If you take outsourcing services, ask your partner about campaigns to generate high quality leads and how an integrated web application can be used to manage it.
We live in an era of automated services where campaigns through social media, print media, and audio-visual mediums can enhance marketing. Moreover, if you have Googled property-related queries before, you must have seen that real estate firms have a vibrant website with images, Google Maps for locations and other services. This answers enquiries regarding the price for the property, location, etc. Therefore, your brand image is heightened with this – all thanks to automation!
Read also- Cloud based BPaaS: All you need to know!
Earlier, managing projects from one place to another was a difficult task, however, with an automated online software, managing protects at multiple locations became easier. Moreover, status of different projects can be accessed with ease and the inconsistencies can be analysed quickly. Entities can also look into the requirement of the market and know the kind of services in-demand, to manage business strategies well.
Today software tools help to automate system bringing enriched results. From events, expenses, inventory to work force, project development and much more, all can be accessed well if you have an automated software at work.
Real estate firms have to manage multiple projects and handling each ones’ documentation with care is essential. Working with these companies’ papers like license, agreements, sale deed, loan papers etc. when integrated in a software, becomes easy to find and are secured.
This simplifies the task and makes performance hassle-free. Automated documents can be traced easily even after years and you do not have to work hard on its whereabouts.
What if a system looks after all your business communication patterns and centralizes your communication with vendors? It is truly a dream come true, as now there is no need to emphasize on how to ease up business solutions for effective use.
Streamlining communication increases transparency and an automated system helps to boost business efficiency at its best. Moreover, you can even ask quotations from subcontractors with a centralized (automated) system. The agreement task and other orders get recorded into a centralized system.
Real estate companies nowadays have a clear idea that habits of investigation over assets have changed with time. The advancement in technology compels entities to take outsourcing services for better business results as they know these external firms have great market experience.
Businesses know that the search for property often starts by finding the best listings on the internet. Therefore, keeping an eye on the ranking may influence customers through integrated web applications.
This application helps to list office space, commercial, residential assets for sale, rent projects etc. online. For all these listings images, Google Map location, content, and other basic information is included to woo the viewer. Was this possible earlier? Obviously not, and this is the reason automation is the new boon for these real estate businesses as it allows reaching out to the target audience in a short span of time.
Having an automated integrated system for analysing the core business functions has become the need of the hour for real estate companies. This system helps to keep an eye on your finance like the cash flow, payments, cost on project etc. Handling finance for real estate entities is hard and thus an automated software to keep a check is very helpful.
Nowadays, the advent of new technology is effecting everybody and automation helps to check the workflow settings so that business costs are controlled and experts are notified for any transactions taking place. Automation is driving real estate to new heights and its feasibility has changed the way customers managed things.
Read also- BPS to BPaaS: How it is happening!
A real estate entity has many data points, and analytics of core functions to review results and shortcomings is vital. This automated analytics helps to judge cost, project success, check return on investment, property sales etc. This way your business is helped to get an overview on performance, which is essential for future endeavours.
Thanks for reading!
Very unique article indeed. I am also into real estate for the last several years but on the software side of it. I generally come across these questions while creating the architecture of systems. Loved it and tagged it.