Big data solve big problems, and it's no different when used in the commercial real estate industry. Real estate companies need a steady flow of business goals completed to keep their business operations running smoothly. The goal should be to automate as many repetitive tasks as possible so they can focus more on the flow of communication with their prospective clients and marketing and sales teams. It all starts with data. However, for an organization to use data analytics, it must first have access to accurate information.
One way that companies can obtain this information is through technology. Without it, it's almost impossible to have a competitive edge or even meet a company's business goals. One of the best and most effective ways is automated real estate marketing software.
Real estate automation uses software to simplify the tasks associated with managing and processing real estate transactions. It involves automating processes such as:
These are just some examples of what real estate automation entails. There are many types of software available today. Regardless of which software you choose, you should be aware of the time and effort it takes before investing your money into one.
Let's take a look at the essential components involved:
Data Collection: Once you decide to purchase real estate automation software, the next step is to collect all the necessary data. It includes information about properties, buyers, sellers, etc.
Processing: After collecting all the relevant data, the next step is processing it. This means entering the data into the system to analyze it.
Analysis: Once the data enters the system, analysis begins. This is where the magic happens. Your software will analyze the data and create recommendations based on the information provided.
Presentation: The final step is presentation. At this point, the software will present you with the analysis results, giving you the ability to make decisions regarding which actions to take to improve your business.
There are numerous benefits to using real estate automation software. Some of these include:
While there are many advantages to using real estate automation technology, there are still those who prefer traditional methods. Here are some reasons why you might choose to stick with what's familiar:
You don't know how to use the software: There are plenty of people out there who aren't familiar with marketing automation programs. They may think they can do things manually without realizing that their marketing efforts will be much slower and less efficient.
You don't trust the software: Many people are skeptical of new technologies. Even though they've seen the positive results of real estate automation software, they may still be wary of using it. This is especially true if they've heard stories about bad experiences with similar programs.
You don't have enough time: As mentioned earlier, you'll be able to save time by automating some of your processes. However, this doesn't mean that you should eliminate manual work. You'll still need to review reports and make decisions based on them. If you don't have the time, then you shouldn't try to automate every aspect of your workflow.
Now that we've taken a quick look at how real estate automation works, the benefits, and possible views associated with it, let's talk about the different types of real estate automation solutions available today.
1) Property Management Software: This type of solution is designed to help property managers manage their entire portfolio of properties. It provides them with detailed reports and analytics as well as the capability to send out notifications to tenants.
2) Lead Generation Software: This type of software helps agents generate leads from various sources including social media sites, real estate websites, and online ads. They also offer lead management tools that allow real estate agents to follow up with prospects after they've generated interest.
3) Listing Software: This type of tool is used to create listings and maintain all of the necessary records associated with those listings. These systems are usually integrated with CRMs so that agents can easily access contact info and other relevant information.
4) Property Search Software: This type of system is specifically created to search for homes within specific areas. Agents use this type of software to find new properties while they're looking for other clients.
5) Data Entry & Data Processing Software: This type of application is designed to help agents input data into databases. Some of these programs even include features such as document scanning and email marketing.
6) Email Marketing Software: This type of program is designed to help agents build and nurture relationships with potential clients as well as previous clients. The software sends emails containing links to landing pages where interested parties can learn more about the agent's services. An example of this would be in an email campaign where the software would help you organize email lists and then set up an email automation system, which reaches out to the business's potential client
7) Social Media Monitoring Software: This type of app is designed to monitor the activity of agents on social media channels like Facebook, Twitter, LinkedIn, and the like. Using this type of software, marketing teams are aware of what their competitors are doing, create personalized content that will convert to qualified leads, and also expand the company's social media presence.
8) Virtual Assistant Software: This type of platform allows agents to hire virtual assistants who will perform tasks like scheduling appointments like a client meeting, managing calendars, and taking care of administrative duties.
9) Mobile App Development Software: This type of development platform makes it easy for agents to connect with customers through their smartphones. Some of these apps enable agents to take pictures of houses, view property stats, and communicate with others in their network. If your company is brainstorming real estate apps for your customers, then this software is a go-to.
Optimizing a company's services will always take its marketing tools and data analysis to the next level, except there is an Achille's heel that affects the entire system:
You need to know the correct floor plans and square footage numbers before doing anything else. If your real estate team has been using outdated numbers, you could be losing out on thousands of dollars per month if not per day.
While these metrics may be simple in hindsight, it a challenging task and can cost you thousands of dollars each year. Real estate agents and brokers don't want to market inaccurate claims to their potential leads. Real estate businesses deal with this issue so often that legislation was enforced to prevent it.
To optimize your business, there must accurate data at one's disposal. Perhaps there might be another tool that can fix this issue.
Real estate automation tools have become very popular over the last few years. They've helped numerous realtors make money online by cutting down on the amount of time they spend on repetitive marketing tasks. In addition to being less taxing on the realtor's body, the software can save them from spending hours every day searching for properties, communicating with buyers, and other similar activities.
However, the only way to do this properly is to invest in a quality set of tools that provide accurate data in the first place. When choosing a solution, focus on features that will assist in the source of the possible problems a real estate business may have. These features include lead management, email marketing, website creation, and social media integration. There are many different options available today, but the best ones are those that automate everything possible while maintaining simplicity and accuracy.