PROPERTYSPARK ARTICLE

6 Ways Automation Can Simplify Real Estate Management

If you have a real estate management business, you are most likely involved in property sales and rentals, as well as property management. This type of activity brings with it numerous administrative procedures involving realtors, property owners, and clients.

Automation facilitates handling multiple details for everyone involved in a transaction from communications to completing any necessary paperwork. Otherwise, if your business is large or as it grows, you will find it challenging to keep up. 

By using automation, your company will be able to significantly reduce much of the manual work traditionally accomplished by employees.

How Automation Can Simplify Real Estate Management

To increase your business’s efficiency, here are some areas where automation can simplify your work.

1. Marketing

In the competitive business of real estate, following up on leads is an important factor in concluding sales. Occasionally, a particular market, residential, or commercial area can be overflowing with leads making it difficult to follow them all. Maintaining a running list of potential clients can be challenging. This is one area where automation can be a game-changer. Procedures such as contact forms or callback forms on your website or landing page can translate into new leads.

Entering all pertinent information in a database makes communications and targeted marketing easier. Matching a specific property with a list of potential buyers can be achieved in minutes. Then communications and follow-ups with these potential clients can be further enabled through automation using emails or text messages. 

Automation can be used to program campaigns leading up to an open house to generate more interest. Then automation can register attendees, send follow-up communications and facilitate the next step with interested clients.

Missed showings or missed open houses can be reduced through automated messages. The larger your database, the greater chance you have of making sales or concluding rental agreements.

Automation can also aid in scheduling your company’s social media presence with posts and photographs. Social media platforms offer an immediate and direct way to engage potential customers. 

2. Property Management

One of the most complicated aspects of real estate management is managing a variety of assets. This might include development, but most certainly will involve service and maintenance, payments, and continuous engagement with residents, service providers, and owners. 

Software that automates certain procedures and communications will save time and money, reduce the potential for error, and will improve the overall management of workflow.

Leads can be automated to route to specific employees as can maintenance requests or similar, saving time. Tasks and voicemails can also be automated, so nothing remains unfinished.

3. Business Procedures

Real estate management requires lots of record keeping from completing forms, maintaining transaction records, scheduling appointments, and formulating operating budgets whether monthly, quarterly, or annually. When procedures are done manually, this requires a significant amount of time and personnel. 

Automation will reduce the need for employees for paperwork, allowing personnel to be used more effectively or otherwise dedicating financial resources to other company needs. 

Automation aids in meeting deadlines, a better use of financial and human resources, automatic scheduling, creating data-based reports, and generating marketing, payment, or other types of emails, alerts, and reminders.

4. Accounting and Financial Management

Payments, whether received or given include transactions as well as banking procedures and disclosures. Relying on physical documentation not only slows the workflow but opens the door to human error and misplaced or lost documentation vital for good accounting practices. 

If you automate your real estate accounting and payment procedures, everything becomes centralized in one system offering better control and the possibility for evaluation, thus simplifying your management company’s financial activities.

Automation will facilitate the monitoring of company purchases in keeping with compliance regulations and in-house rules, and speed along the payment of those purchases to suppliers.

Outstanding payments with relative invoices will be rapidly analyzed with alerts sent to debtors as well as follow-up monitoring.

5. Property Inspections

When involved in real estate management, onsite inspections of properties and their systems are standard practice. This will include inspecting the property and premises, gathering data and photographing at the location, then creating an analytical report. If potential clients experience problematic quality control, they may decide to withdraw an offer or a property for sale.

Some of these controls can be automated to increase efficiency. Pre-scheduling of property controls with clients reserving time slots automatically. An automated system will then pair specific inspection needs with qualified personnel depending on the property.

6. Analyzing Performance

Your team’s performance is essential to your company’s success. The use of automated reports will aid management in determining which team members are excelling and which employees may need extra support.

Automation Brings Simplification to Real Estate Management

The greatest advantage to incorporating automation in management procedures is that your company will benefit from better organization. Time-consuming manual procedures will be replaced with digital alternatives offering more efficiency and creating more interactivity with potential clients.

This will not only simplify your work but provide attractive and convenient options for customers. Automation software platforms will contribute to an effective and time-saving digitalization of your management services.