By now, there’s a good chance you know all about the technology options available to real estate professionals. You can leverage 3D imaging to create interactive virtual tours. You can use mobile apps to respond to new leads in seconds. You can even set up a mobile solution that facilitates online collaboration between property stakeholders through a cloud-based, digital platform.
So rather than exploring latest innovations, why do so many agents still spend so much time on tedious, time-consuming tasks? Despite the developments in real estate technology, there’s still a surprising amount of manual work to be done each day.
According to the National Association of Realtors, keeping up with technology is a top challenge for a growing number of real estate firms. The association also revealed that at least 44% of agencies also expect competition from virtual firms to increase in the coming year.
With that in mind, we’ve compiled a list of the most common real estate processes that can easily be put on autopilot. This way you will be better positioned to meet client expectations and stay ahead of your competitors.
1. Generate real estate documents digitally
From initial listing agreements to creating contracts, you have a lot of documents to juggle. Believe it or not, managing them all doesn’t have to be a difficult task.
Rather than grappling with piles of paperwork or a complicated web of emails and attachments, more and more real estate professionals are turning to automated document generation. With this technology, you simply gather the right data and feed it into a document creator. The system will transform your information into the exact files you require, based on the parameters you set.
Not sure where to look for data, or which information you’ll need? You can create a system that does all the work for you by setting up a series of simple online real estate forms. It’s a simple and quick way to create reusable templates and contracts without having to start from scratch every time.
2. Enable electronic signatures to simplify real estate transactions
The collection of signatures to close deals is often a time-consuming task, especially when documents are sent through the post. Despite what some might think, digital signatures are among the most important innovations in the world of real estate.
When you automate the process of generating real estate documents, those files can be easily set to capture signatures as well. You can add a signature field to your online form, or have digital documents sent to a signature software solution for final approval. Either way, you’ll get the signatures you need within seconds and save a tremendous amount of time.
And since it means less time for the signers themselves, you’ll be improving the experience for your clients too. Also, to the benefit of all parties, it ensures a high-level of security thanks to measures like encryption and multifactor authentication.
3. Use real-estate automation to streamline workflows
How much time do you spend on processes like updating, printing, mailing, and signing important documents? When these monotonous tasks take up too much of your time, they detract from the high-value work you should be doing to move the business forward.
The more you can automate, the better positioned you will be to maximise productivity and profits. Automated workflows allow you to take care of the entire real estate process from start to finish. From creating digital documents to routing files to the right stakeholder, each task will be handled without the need for constant human intervention.
When a particular task is completed, your automated workflow will move on to the next, and so on, until the entire document has been completed, reviewed, authorised, signed, shared, and safely stored.
4. Boost decision-making capabilities with real-time insights
Back then, business decision-making was done based on a blend of educated guesswork and gut feel. This approach carries a high degree of risk, potentially leading to poor returns on investment. But in the age of big data and machine-driven analytics, it’s now possible to derive real-time insights in the form of automated dashboards to make key decisions based on facts rather than pure instincts.
Every interaction that occurs in the digital realm leaves a data trail. Once you have integrated your business intelligence (BI) systems into your digital branch, you can instantly identify key opportunities for improvement, pinpoint potential impacts and act accordingly to keep your clients happy.
Your real estate workflow is more than just paperwork. It is also about streamlining the client experience and driving better transparency, visibility, and communication across the business.
Want to learn actionable insights on how you can hyper-automate your real-estate workflow? Visit our website today and start wowing your clients today!
Resources and Further Reading
How to Organize Real Estate Files: Streamline Your Client Experience, Skyrocket Your Business
Streamlining the real estate process
How Using a Transaction Management Software can Streamline Your Real Estate Team
Real Estate Agents: Here’s How to Streamline Your Way to More Productive Days