How many hours a week do you spend on repetitive, menial tasks as a real estate agent? From data entry to drafting contracts, these are all essential parts of the sales pipeline. But is that efficient use of your time? Is it worth trading off the time you could be out there networking or closing your next deal?
The answer is most likely no. Luckily, there is a solution.
Automation is a way to increase productivity by introducing tools that complete processes without human intervention. By passing mindless, tedious tasks over to software, you can focus on meaningful work that machines cannot replace. As for real estate professionals, you should be out there talking to clients, not stuck behind a screen, filling in Excel spreadsheets!
As operating a business becomes increasingly complex and challenging, managers realize they need to do more to grow faster with the same or fewer resources. Frustrated with stagnant labor productivity, managing directors around the world have been looking for ways to digitize their workflows. By utilizing greater automation, top-line executives hope to drive employee productivity and increase outputs while boosting employee satisfaction.
In research conducted by ServiceNow, 6,000 knowledge workers worldwide indicated that business process automation (BPA) increases productivity. Employees in more automated companies reported being 20% more productive since their organizations introduced automation technology. Of the population surveyed, more than 94% stated that automation had a positive impact on their output.
Despite these findings, fewer than 1 out of 10 companies consider themselves “highly automated”, to which companies in Hong Kong, the UK, and Australia were rated lowest in the group. It is surprising that some of the world’s most advanced economies and robust real estate markets still rank themselves as highly manual businesses.
In this article, we will explore how automation technologies can impact businesses; from productivity and employee satisfaction to increasing the bottom line. Read on to learn three ways that automation tools can make work better.
Increased productivity
Automation integration uses software to streamline how people perform tasks. Although today’s popular processes mainly focus on back-office and administrative duties, they can also benefit collaborative and knowledge-based work. It can aid management decision-making, strategy or campaign development, and even content creation.
For instance, if you struggle with finding suitable properties for your clients, or vice versa, AI can automatically find matches by analyzing large volumes of customer behavioral data. These systems can provide you with accurate suggestions to help you make faster and smarter decisions on which clients to reach out to immediately or who to continue nurturing. For more about AI Proptech, click here.
Another example is creating documents or emails out of standardized templates. Automatically fill in your documents tailored to specific needs without copy and pasting them from your CRM to your mailbox.
Automated workflows can enhance collaboration, shorten lengthy process cycles, and limit human error – improving productivity in most, if not all, parts of the sales process.
Employee satisfaction
Numerous research suggests that employee satisfaction is essential to an organization’s success. Not only does it play a role in employee motivation, retention, and commitment to work, but it ultimately impacts the bottom line.
Employee satisfaction directly correlates to productivity. In a study conducted by the University of Oxford where workers’ happiness level was compared with metrics of productivity workers were 13% more productive when they self-reported as being very happy, compared to when they were unhappy. Meanwhile, 74% of employees in very automated companies say it improves job satisfaction, compared to 53% for those in highly manual companies.
Saying goodbye to boring, uninspiring tasks like approval processes and data entry can directly impact the well-being of employees. With the help of automation, organizations can streamline tasks and remove any bottleneck to free up more time for more complex and creative work. When you start focusing your time on upscaling sales skills and building meaningful relationships with potential clients, the efforts will eventually lead to happier customers too.
High revenue growth
Sales automation can reduce the cost of sales by freeing up time spent on inefficient processes and unlock additional revenue. Highly automated companies are 32% more likely to exceed financial goals when compared to companies that stick to manual workflows (ServiceNow).
By automating customer outreach, agents can spend less time on regular follow-ups, handling incoming requests, and reporting and analytics. Instead, they can thoroughly focus on revenue-generating efforts such as face-to-face meetings and deal negotiations. As salespeople, you should be focusing on what you do best, not menial tasks that slow you down.
Moreover, companies spend thousands of dollars per year on different software for various functionalities. The problem comes when the software doesn’t integrate, leaving agents and managers scrambling through platforms to find information. Aggregating all data in a centralized CRM will make automation seamless and save money while providing a powerful workflow that runs itself.
Digital workflows can help cut costs and make drastic improvements across core business processes. It eliminates busy work for employees while improving the quality of work-life for all. Organizations need to start adapting automation widely as quickly as possible, or your competitors will.
Need an automation solution?
Property Raptor is the best CRM system tailored for real estate professionals who want to do more with less. Why? Automation is at the heart of our product strategy. If you are looking to streamline all your business functions with state-of-the-art AI and automation technology, CLICK HERE and book a free demo of Property Raptor today!
