Automation is emerging as a winner across industries to improve efficiency, save time, and reduce costs. According to McKinsey, 66% of businesses have automated at least one function of their operations.
Back in 2018, that percentage was only 57%. Research from McKinsey shows more organizations are now going for automation than ever. That also includes real estate agencies that invest in workflow or marketing automation.
However, the trick is not just to automate everything. Rather, you need to understand how things work together and automate accordingly to get the best results.
Here are a few valuable tips to boost productivity for real estate automation.
1. Remember to Segment Your Customers
Realtors should never forget to segment their audience if they want to make the most of automation. It helps you communicate accurately with your leads and place them in the right nurture drip campaign. You can then run an automated email campaign or use other ways to convert them.
Let’s say you have two leads that want to sell their properties. One of them wants the sale to happen as soon as possible, while the other is just checking out the market.
Therefore, your reps will take a different approach to each person while nurturing or providing customer support.
A CRM or marketing automation tool can help real estate agencies segment their audience. You can then put them in different email campaigns and automate the whole nurturing process and follow-ups. Additionally, research shows businesses that fulfill their lead generation and revenue milestones are more likely to undertake customer segmentation.
2. Unify Your Applications
Most realtors use a range of tools to automate business processes. You may have an accounting solution to streamline bookkeeping while relying on another expense management tool to handle payments.
Both the software will have different automation features to save time and improve efficiency. However, you cannot attain complete automation until you integrate both solutions. Most probably, you are still copying data from one tool to another to close your books.
What happens if you integrate your accounting and expense management tools? You can then allow the seamless exchange of data and the elimination of manual processes. Payment in your expense management tool can automatically reflect in the respective accounts in your accounting software without human intervention.
That is undoubtedly a great way to boost productivity. In addition, 80% of business operations leaders view data integration as vital for ongoing operations.
3. Collect Leads from Every Channel
Real estate agencies generate leads from several channels. Interestingly, referrals are still an important source, and 41% of buyers connect with real estate agents using referrals.
In addition, realtors generate leads from their website, property listings, email queries, and more.
Just like your apps, you should sync leads from all your channels for foolproof marketing automation. You can use a CRM or marketing automation tool to collect leads from websites, web forms, emails, and more.
The process helps you leverage every lead and stop missing out on potential customers. Additionally, you can plan better campaigns and automate your lead nurturing to save labor and effort.
Best of all, you will have all your leads in a single database for easy reference.
4. Automate More than Manual and Repetitive Tasks
Most of us think automation is suitable for eliminating manual and repetitive tasks. Therefore, we implement automation mostly for tasks like data entry and email campaigns.
However, automation can also apply to top-level positions and their responsibilities. According to McKinsey, 20% of a CEO’s workday has the potential to be automated through existing technologies. That was back in 2015, so now we may automate more of a business leader’s work time.
Therefore, consider everything that you can automate in your real estate agency. Don’t focus on only low-wage jobs or lower ranks but also C-suite and leadership positions.
The approach can boost not only the productivity of business leaders but also save your costs. A CEO typically earns $155k a year, so you can imagine how much you will be able to save.
Some of the tasks a CEO can automate are:
Analyzing data and reports to make informed decisions
Scheduling employee duties and responsibilities
5. Automate Your Customer Service
Customer service is a big part of any real estate business. You need to reply to queries, provide market updates, and more to keep your customers in the loop.
Fortunately, you don’t need to employ a human for the purpose and waste productive working hours. Automation can come in handy here, too, and help you put your customer service on auto gear.
Chatbots are a wonderful way to automate customer service. You can implement a chatbot on your website or mobile app to entertain customer queries 24/7. It is also possible to mimic human conversations and serve your customers based on contexts like name and location. Best of all, people are now used to chatbots and even like the experience. They can also engage your audience better and even derive 35% to 40% response rates.
Automate Your Real Estate Business with Assetsoft
Realtors may not have the required expertise or understanding to implement end-to-end automation. You need to work with an adept partner like Assetsoft with decades of experience to boost productivity. We can provide professional guidance and suggest the best technologies after considering your business problems.
In addition, we can unify your apps and create a connected ecosystem. You will be able to achieve full-scale automation and run your operations with a hands-off approach.
Moreover, you will be able to generate meaningful insights based on advanced analytics that come as a part of automation.
Get in touch with us to discuss your requirements.
Automation can be a game-changer for any business, including real estate. However, you need to go about the process carefully and automate the right workflows. Additionally, unify your tools and create a single source of truth to run your operations. In the end, work with a reliable partner if you lack in-house talent or resources to implement end-to-end real estate automation.