It’s been stated a thousand times over that real estate is very likely NOT going to be anyone’s means of getting rich quickly and easily. You will have a hard time finding any realtor who will tell you otherwise, and that will be true of even the wealthiest and most successful realtors. The quickly part of it may be truer, but it is never going to be easy and first and foremost you have to remember that this is a VERY competitive business. And becoming more competitive all the time, as will always be the case.
We usually focus on market dynamics and housing outlooks in Canada with our blog entries here, but from time to time we do like to switch over to real estate practice topics and what realtors can do to either provide better service for their clients or expand on their own knowledge of how they can do better for themselves in their chosen profession. That’s what we’re going to do here this week and look at something called Robotic Process Automation.
And it will likely be well received, as realtors are always looking at ways to gain competitive advantages based on what we talked about earlier with regard to a competitive business and industry. Realtors who are newer to the business and not drumming up the volume of clientele they’d like to be can take advantage of our online real estate lead generation service here at Real Estate Leads. It is an excellent way to get more out of your client prospecting efforts, and it certainly is a way to make at least one part of your work easier.
Let’s now look into what RPA is and how you can incorporate automation into your work as a real estate agent in Canada for better results.
Smart Moves
Many real estate professionals don’t have the time for strategic, social and creative tasks, or they at least don’t have enough time for them. But now modern technologies offer various opportunities to streamline or even fully automate manual tasks that were up until now very time consuming. So here we are now with RPA (robotic process automation) becoming one of the most popular and accessible solutions for real estate agents.
All of this is centered around the technology landscape in real estate where real estate operations haven’t changed much over the last few years despite all the digitalization occurring in business of all sorts and seen prominently in many other sectors. Many real estate companies still use spreadsheets when collecting and analyzing data for property evaluation, invoices, lease administration, and so on.
Many realtors are hesitant to lean too heavily on technology because they believe that the interpersonal relations aspect of the way they work with clients is a very essential part of their success, and there is 100% merit to that way of thinking and if you feel that way you shouldn’t abandon that way of thinking
But here is how real estate agents can leverage RPA
Handling Administrative Tasks Reliably
With RPA software robots are deployed and programmed to mimic typical human actions and handle a wide range of repetitive administrative tasks. The business operations best suited to RPA automation in real estate involve the entry and processing of huge amounts of data with compliance, report generation, client account setup, tenant credit processing, invoicing, contract entry, maintenance scheduling, bank reconciliation, and supplier management among other operations needs that a realtor may need to be responsible for.
The cost savings that can be realized by investing in robotic process automation of such processes can be impressive. For companies the estimates are that 45% of them utilizing RPA approaches had cost savings of 10 to 20% , while 27% were even aiming for savings of 20 to 40%. As a realtor working independently in business you can expect to have similar positive gains from using RPA in your operations.
RPA implementation for realtors can also provide significant time savings. There was a story of a leading investment services company in Saudi Arabia that lowered its transaction processing time by 66% after deploying software robots to automate business-critical operations. That can give you an idea of what’s possible for anyone who’s business is conducting investment in real estate, which is what you do for your clients as a real estate agent in Canada.
Ideal Tasks for Automation
For an RPA solution to prove the most effective and generate maximum return, it should be applied to the most suitable business process. As a result realtors and / or real estate companies choosing to use it should be evaluative with their options and choose to prioritize ones with the highest potential value. You may also want to consider automating high-volume tedious tasks that can be streamlined even more in the future using bots’ exceptional scalability.
Process optimization will be important too, and especially for real estate companies that will have more of a need to improve RPA logic and solve all inefficiencies.
__
Sign up with Real Estate Leads here and immediately put yourself in position to take advantage of the technology here that lets realtors be first-in-touch with prospective new clients who have indicated their readiness with buying or selling a home. And that is buying or selling a home in the area of the country where you are working as a real estate agent. You’ll have an advanced opportunity to contact them and then showcase yourself as the local real estate professional they need on their side to get them the best value for the home they’re buying , or the best marketing of the home they’re selling.
