Technology is here to stay, yet the real estate sector remains one of the most resistant to embracing the tech revolution. The changing market plus the growing expectations of partners, clients, and investors; has created an avalanche of need for increased engagement and strategies backed by analytics.
In an ever-challenging market, the message is clear. Dial in, or fall behind.
Recent national events have only amplified a technology trend which was already in full swing. When added in, the limits on in-person transactions only enforce the need for smart solutions.
So, let’s talk resources.
You’re in your office, at your desk, with your phone and a cup of coffee. Your team is buzzing around you while you follow-up and delegate tasks. You’ve got a buyer on the hook and you’re working hard to facilitate a transaction.
At the same time, you’re planning some new marketing for your move into a new territory, then a call comes in from one of your property managers …
How do you translate a business full of activity to a digital platform without back-pedalling or duplicating your efforts?
Design is important. A clean design promotes easy navigation across the platform, directing the traffic, (your team, data, and resources), where they need to go. It also makes your assets easy to locate which is important in an environment where quick responses can give you the advantage.
Collaboration among your team is likely an integral part to your success. Using a single platform across your company allows you to connect on asset management, leasing, marketing, sales, and every aspect needed in a convenient way.
This is one of the most important traits of a solid platform; secure file sharing, and smart formatting. What you don’t want is to flick through a 700 page pdf to find the information you need. Choose a platform that can search and prioritize your documents, and flag the resources you access most.
There are two sides to file sharing; internal, and external. So, your platform needs to facilitate both sharing with your team, and with outside sources securely. Part of that relates to contact management and the ability to share information with a variety of end users.
Contact management also streamlines your ability to interact with your buyers, tenants, investors, partners, and lenders; not just conversationally but transactionally.
Automation isn’t about replacement, it’s about enhancing the practices you already have. Even in today’s advanced atmosphere you still need marketing, asset and team management, lead generation, and transaction support.
According to research by McKinsey and other firms;
“(We have) vaulted five years forward in consumer and business digital adoption in a matter of around eight weeks.”
as a result of consumers turning to online and virtual resources out of necessity. This is not a shift that will likely die out. 80% of CRE Investors give priority to technology-driven firms that prioritize predictive analysis, automated functions, and lead generation.
A single-platform service should have the capacity to target the buyers, listings, and contacts you need while analyzing and organizing the data and metrics you need to support your research and expedite decision-making.
Analytics is a word that may induce grimacing when it comes to technology, especially as we’re talking about compiled data from (in RealDash’s model), over thousands of companies, listings, and contacts, in addition to your existing company data.
The point of analytics is to identify patterns from data sourced from specific areas and use it to generate leads and pinpoint opportunities. This information has the potential to direct everything from your marketing to your listings.
Predictive Analysis isn’t about being able to see the future, it’s about doing the math and interpreting data points as logical projections for where the market is trending, where interests lie, and where your engagement will be most effective.
Compiling data is great but the full scope of its application only becomes visible when the endpoints are integrated into your reporting. Automated integration is the only way to go here, as we said, we’re dealing with thousands of data points which would make for some carpal-tunnel inducing data entry were you to attempt it manually.
Reporting offers transparency to your clients, partners, and investors. Automated integration also works within a set format to ensure your information is presented clearly and easy to navigate.
One of the most important things a CRE can do is to get comfortable with technology as an every-day inclusion to your existing best practices. Making a single-platform resource the central hub for your businesses, opens the door to untapped leads and unprecedented communication.
You don’t have to navigate the waters alone. Looking to investigate how RealDash can help elevate your business? Reach out to us today for a demo!
