Automating Commercial Real Estate Marketing | The One Challenge That Slows Workflows
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.
What is Real Estate Marketing Automation?
Real estate automation uses software to simplify the tasks associated with managing and processing real estate transactions. It involves automating processes such as:
- Document Flow
- Lead generation
- Closing documents
- Assigning contracts to agents
- Data entry
- Listing management
- Property management
- Email workflows
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.
How Does Real Estate Automation Work?
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.
The Benefits of Marketing Automation
There are numerous benefits to using real estate automation software. Some of these include:
- Productivity: With real estate automation software, you can save extra time by automating processes. By automating these processes, you'll be able to spend less time doing simple tasks and more time focusing on other aspects of your business.
- Cost Savings: Another benefit of using real estate automation software is cost savings. You'll be able to reduce costs by eliminating the need for human resources. For example, it's more effective to use a computer program for $0.50 per hour instead than someone $20 per hour to enter data.
- Increased Efficiency: There's limited time to close deals in the real estate sector. When you have automated workflows, you'll reduce errors and make sure that everything goes according to plan to close a deal.
- Improved Customer Service: Not only will day operations be faster, but with data tools, you can have customer insight. Having automated systems will allow you to respond quickly to customers' needs and see what they want. An example would be an email response with automated follow-up emails or with notifications for phone calls. In addition, you'll also be able to keep track of important details like when items are shipped or returned.
- More Reliable and Consistent: Real estate services that use a reliable system will always have fewer problems than a non-automated one. The biggest challenge facing many businesses today is consistency, and removing this challenge can reduce stress overall.
- More Accurate Forecasting: Forecasting is important when running a successful business. It helps you determine whether or not you're meeting your goals. An automated system will help you with accurate forecasting because it will give you access to data about past performance.
- Easier Compliance: Compliance is another reason you should use real estate automation software. You'll be able to avoid fines from the IRS and other government agencies if you automate some of your processes.
Real Estate Automation vs. Traditional Methods
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.
Real Estate Automation Software Types
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.
The Only Consequence Using Real Estate Marketing Automation Software
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.