The real estate market is known to require a significant level of human interaction, but to what extent is the human touch really necessary for delivering a high-quality service for each and every customer?
The human-intensive nature of real estate creates a large margin for human error. Poor lead management, documentation, appointment coordination, tenant screening, and maintenance supervision are just a few examples of tasks/processes that are difficult to execute consistently without the assistance of automation software working in the background.
“Real estate is a market that is ripe for technological disruption. Whatever can be automated should be automated!” – Jyotirmay Samanta, How to Automate Your Real Estate Business?
Some of you property managers out there may claim that diving headfirst into the automation craze sweeping the business world is not such a good idea, as it undermines the face-to-face interactions that play such an important role in the field.
This is not entirely wrong, but all things considered, deciding to ignore new ways of streamlining processes will leave you in the dust as your competitors continue to find new ways of being more efficient.
“One of the most effective ways to humanize the property management experience is by providing better communication. Figuring out what residents want in order to improve service can be a complicated and daunting task. But today, a company can easily leverage automated surveys and other forms of real-time communication to glean real, useful feedback from residents.” – Doug Brien – How Technology And Automation Humanize The Property Management Experience
Recently, it was reported that total investment in real estate tech has ballooned from $33 million in 2010 to more than $5 billion in 2017. That is nothing short of astounding, especially when you consider the market’s volatility over the past decade.
Technology is driving the evolution of real estate, and market players need to keep up if they want any hope of leading the charge.