How automation is improving the property sector
In recent years, automation and artificial intelligence have become increasingly popular as a tool to boost efficiency and productivity. In the property sector the situation is no different, with these tools at the forefront of innovation.
But automation goes far further than just productivity and efficiency. It also allows property professionals to improve their sales and marketing processes, predict property prices more accurately, and quantify leads and potential buyers more easily.
How can the property sector benefit from automation?
Businesses are generating more data than ever before. This opens the door for automation and AI to streamline business processes, improve marketing, and ultimately generate more revenue.
Slowly but surely, the property sector is also adapting to this data-focused world, including in document management, inventory management, procurement processes, and accounting.
Improved marketing and sales processes
Sales and marketing in real estate are often resource- and time-intensive, especially when managing a large amount of transactions. Automation enables firms to automate many of these processes.
This allows property firms to:
More easily manage information about leads by gathering it in on a single platform
Segment leads based on their needs, requirements, and budgets to provide them with content and property recommendations relevant to their requirements
Personalise the client journey by storing each client’s transaction history
Develop specific marketing strategies and messaging by creating buyer personas based on client interactions
Increase client engagement by targeting them with relevant content
Utilise chatbots to respond immediately to client queries and gather more data.
This boosts efficiency and ultimately helps you generate more revenue. In fact, according to research, automating your marketing process can increase your conversion rate by as much as 53%.
Property values
By analysing vast amounts of data such as crime rates, schools, and buying trends, AI systems can also accurately predict the market value of properties – faster and more accurately than a human.
AI also makes property analysis easier by allowing you to provide accurate and extensive information about any property to your clients. It can generate information like the rating and reviews of local schools, crime rates, entertainment, recreation, and other data.
This allows you to empower your clients with all the information they need when making a decision, boosting your own reputation and helping close more deals.
Property management
Property management is a major component of any real estate business. Tracking rental and property listings, tenant applications, requests for maintenance, and finances is easy for one or two properties, but as your portfolio scales, so does the workload.
Automation can ease this burden by keeping track of all these details quickly and easily. As a result, property management becomes easier, freeing up more time for closing deals.
What property automation tools are available?
To really see the benefit from automation and artificial intelligence, you need to use the right tools.
CRM
Customer Relationship Management (CRM) systems are the best way to manage and organise customer information. By storing and tracking all this data on a single platform, you can deliver a more complete customer service.
With the information you capture in your CRM, you can improve your marketing strategy, generate more leads, and respond faster to these leads. This is the result of the automation capabilities offered by a modern CRM.
Verification software
As a property professional, you know how tedious the process of confirming the identity and financial ability of tenants and buyers can be. This process often involves gathering multiple documents and bank statements.
Verification software such as Checkboard makes this process much easier. By using automation and artificial intelligence, it can complete credit and affordability checks, and identity verification quickly and seamlessly.
Property management software
Managing and tracking rent payments, maintenance requests, and contract termination dates a property manager’s bread-and-butter. This can take a lot of time and effort, that would be better spent on marketing and selling.
A simple way to make this process easier and more efficient is to use property management software. This reduces admin work and gives you real-time access to relevant information, reducing the burden of everyday busy work.
What are the benefits of automation in the property sector?
Property and real estate are time-intensive industries that have traditionally required repetitive manual tasks that rob estate agents of valuable time and energy.
AI and automation are capable of handling most of these tasks autonomously or with little human intervention. As a result, they can free up agents’ time to concentrate on more business-critical issues, making them far more productive and efficient.
To learn more about our cutting-edge verification software and its transformative potential through automation, get in touch with Checkboard today.
