Say Hello to Automation!
Indian Real Estate Market is expected to reach USD 1 trillion by 2030. In fact, by 2025, Real Estate Industry is estimated to contribute 13% to the Indian GDP. This shows the growth of the Real Estate Sector in India and depicts a wide scope for changes in the tools and methods of its operations. This paves a welcoming way to Automation in the Real Estate Industry and shows the Importance of automation in the real estate industry.
The search for buying, selling, or renting property is becoming more of a digital process.
Homebuyers or renters can find the best available options in the market online. They can go through the photos, videos, 3D views and can even sign the documents online themselves.
Easily and conveniently available at the tips of your fingers and the comfort of your home couch.
Automation is simply getting work done through tools and applications and using your valuable human resources for more subjective and profitable tasks.
Problems faced by using Traditional – Outdated Practices:-
Customers have evolved over the years and their preferences keep changing as per the ongoing trends and needs at the time.
With Covid-19 in the picture now, these changes in their choices are happening even more swiftly.
Real Estate Agents who don’t adhere to the customer needs and who are stuck with the traditional and inefficient practices, will grow out of business and won’t be able to sustain in the dynamic market area.
Below is the list of a few Traditional Practices used in the Real Estate Industry:-
Costly Marketing Methods:-
Real Estate Agents, Developers & Builders, Realtors, etc., often reach out to Print Media, Bill-board Hoardings, News Channels, Radio Broadcasts, etc., to market and promote their products. These are the most common and costly platforms, where you can’t reach your customers directly, you are not sure if they showed interest in your product after seeing it and whether you are getting your desired Rate of Return from these expenses or not. These methods are an indirect way of brand-building methods. Not directly related to sales. This is a one-way road, where you reach out to customers and wait for them to come back to you.
Lengthy Operational Procedures:-
Every Organisation has to set up certain Departments for its smooth and effective functioning. But in the long run, firms find themselves more involved in these tedious and repetitive procedures of maintaining Clients List manually, Mainitng Visit-Schedule Chart manually, maintaining Rent Sheet, Inventory sheet, assigning tasks to staff, and being unable to measure it. Lengthy operations like data entry and accounting, HR & Admin related tasks, all take away your precious time and energy and you can’t focus on bringing in new leads and clients, follow-ups, closing deals, maintaining an interpersonal relationship with the client to get more referrals & get repeat business from them. The real estate business is highly dependent on its Sales Income and needs most of the attention of the business owners.
Untargeted & Indirect Reach to the target audience:-
Traditional approaches are not Audience Oriented. They are very generic and open-ended. They don’t specifically focus on client segmentation and niche marketing. Thus, they lose the opportunity to reach the right person at the right time and close the deal. In this case, the Demand and Supply are not met at a common platform and hence the gap is found between the buyers and the sellers.
Lack of Tracking and Monitoring:-
The traditional methods of sales and marketing don’t provide the tracking and monitoring of the leads that are generated by using those methods. Thus, the business owners are left at the mercy of excessive cold-calling and waiting for the clients to reach out to them. And, as per the current dynamic scenario, businesses can’t be successfully run based on the “WAIT & WATCH” principle.
Many Problems, 1 Solution = Automation
Becoming a Real Estate Agent is Easy, but, Sustaining & Growing in this field is difficult. And that’s where Real Estate Automation comes into the picture.
Half of the population is now shifting towards the digital platform and that’s where your company and product also need to be PRESENT! Otherwise, you can be a victim of “Out of Sight is Out of Business”.
Earlier, the real estate industry was hesitant to accept automation due to a lack of its understanding and usability. But Covid-19 has changed the scenario completely. Remote working culture has paved way for adopting automation as the “NEW NORMAL”.
The Real Estate Industry is in desperate need of developing a Digital Infrastructure to enable smooth functioning of the business, gain more profits, and grow steadily.
Automation Software helps real estate professionals to organize and manage various activities like social media calendar, ad-campaign calendar, email campaigns, paperwork, finance, and accounts, lead generation and sales, marketing, etc.
Listed below are a few solutions based on automation that Lisa Network provides to cope up with the dynamic market scenario and earn good ROI with minimal expenses.
Automating Marketing & Sales Procedure:-
Quick revert to a lead can give you a competitive edge over the other players and create your impression as a reliable and confident Agent.
Most of the sales come in with timely and regular follow-ups. Automation allows you to create an effective and efficient sales funnel to monitor your lead generations, sales procedure, and deals status. Real Estate Professionals can use tools like Hootsuite or Zoho Social to schedule their social media postings on a timely basis to market their products to the desired target audience.
Email Marketing is another way of keeping your clients updated about the industry and keeping them interested in your product.
The best part about automation and digitalization is that you can use niche sales techniques, identify your desired target audience and market your product accordingly. After all, as they say,”Pyase ko hi kuwe ke paas jana padta hai” ! 😉
Property and Rent Management Softwares:-
Lisa Network promotes “PropSafe” as a property and rent managing software. This software liberates you from manually handling all these data entries and juggling between different properties to check for availability and rates. You can now focus on more lead generation and converting the hot leads into closed deals.
Accounting and Financial Automation:-
Exhausting accounting spreadsheets, fiddled transactions, piles of files, and documents, waiting for checks to get cleared, all this is a hurdle and problems of the past. Ancillary activities should not be given your 100% attention. Automizing all these repetitive activities can free your mind from these petty tasks and you can engage more in sales and ROI generating activities.
HR & Admin Automation:-
Tools like Zoho Projects, Hubspot, etc allow you to maintain internal harmony and work synchronization in your firm. Employees can be assigned tasks and those tasks can be monitored on regular basis to analyze their efficiency. HR need not sit with pen and paper to evaluate employees’ performance and appraise them. Softwares and designed in such a way that it overtakes these manual tasks and makes them easy for the user.
You don’t need to wait for another 200 years for FREEDOM!
Automation helps you speed up your time-expensive procedures and gives you freedom from unwanted work. For example, on average, a Real Estate Profession spends 3 hours a day in manual tasks like physical form filling, documentation, report submitting, client listing & segregation, etc. All these tasks, if automated, can be done in 1.5 hours and RE professionals can get more time to focus on lead generation, follow-ups, and closing deals. Thus, freedom from documentation gives more productivity and efficient ROI.
These are some importance of automation in the real estate industry. We hope this will be helpful for you and your business growth.