Automation in real estate has become an increasingly popular topic over the years. In fact, 61% of real estate businesses report adopting automation. It has revolutionized many aspects of the industry and has streamlined processes while improving the bottom line.
In this blog post, we will go over exactly what automation is and break down the top five benefits of real estate automation.
What is Automation?
Automation is defined as the process of performing a function with minimal or no human interaction. Being in the commercial real estate industry, who wouldn’t love more hours in the day to perform revenue-generating activities? However, you may find it difficult to step back and let go of control.
If that’s the case, here are the top five benefits of real estate automation that might convince you it’s just what you need.
Benefit 1: Level Up Effectiveness and Efficiency
One of the obvious benefits of automation in the real estate industry is that it can significantly increase effectiveness and efficiency and is a great way to offload some work from your team. By eliminating the manual processes in place, you and your employees can focus on activities that drive the bottom line, like meeting clients, closing deals and improving customer satisfaction! In real estate automation, employees can focus on activities that generate revenue, resulting in better productivity and higher profitability.
Benefit 2: Decrease Operational Costs
The second benefit of real estate automation is the ability to decrease operational costs. Manual tasks require time, effort, and money—all of which can significantly impact the overall functioning of the real estate business. Automating processes can save both time and money, resulting in a significant decrease in operational costs. In fact, nine out of ten companies we come across have missed lease rate escalations. By implementing automation in your real estate business, you’ll never miss a lease escalation again.
Benefit 3: Eliminate Human Error
Human error can be costly in any business and can be particularly damaging in the real estate industry. Automation reduces the likelihood of errors in real estate transactions. By automating processes such as data entry, calculations and compliance checks, the potential for errors that can result in costly mistakes can be reduced. Real estate automation ensures that the work is carried out accurately and efficiently, without costly manual intervention.
Benefit 4: Reduce Manual Workload
As you know, real estate is a people-focused industry. Automation can optimize the processes, enabling real estate agents to focus on client interaction and sales. Automation in real estate eases the manual workload, freeing up time for other high-value tasks. Your team can provide an improved level of service by automating routine tasks. By doing so, you will see increased customer satisfaction and a higher chance of repeat business. In our webinar “3 Tasks Commercial Real Estate Owners Should be Automating” we share exactly what tasks you should be automating. (Just submit your name and email address to watch!)
Benefit 5: Track Important Documents
Keeping track of important documents in real estate is vital, but it can be a challenging and time-consuming task. With real estate automation, it is much easier to track important documents, such as lease agreements and financial reports. Automated real estate management systems allow easy access to all important documents, ensuring that they are organized and up-to-date at all times.
Automating Real Estate With the Help of STRATAFOLIO
The five benefits outlined in this blog post are just the tip of the iceberg. Real estate automation can level up effectiveness and efficiency, decrease operational costs, eliminate human error, reduce the manual workload, and track important documents. By adopting automation in your real estate business, you can improve your bottom line and provide better value to your clients.
With STRATAFOLIO, you’ll have all of the benefits of real estate automation! STRATAFOLIO keeps track of all your important documents and integrates with QuickBooks for seamless financial management. Schedule a 1:1 demo today to learn more about how STRATAFOLIO can provide you with the benefits of automation!