Are you looking to boost your bottom line and streamline operations? Automation is the key. Human resources is often the biggest expense for a real estate firm. Adding headcount as assets under management grows takes a toll on your budget. By automating just one 8-hour weekly task, you would need one less person for every five new hires. Want to learn more about the top three automation strategies we helped organizations implement? Keep reading to learn the top 5 things to automate in real estate.
1. Merging and Mapping Data
Hundreds of hours are wasted each year as analysts download data exports to Excel and spend time merging and mapping data. You can replace VLOOKUPs, INDEX MATCH queries, and hidden sheets with a few well-crafted lines of code. One small investment in automation will result in tens of thousands of dollars in savings per year.
2. Analytics and Reporting
Are you tired of spending countless hours preparing data, only to spend even more time creating insights and analytics? You’re not alone. Many firms perform repeatable processes every month, such as preparing financials, CAM reconciliations, etc. What if there was a better way? By implementing standard reporting and analytics for financials, operations, and task management, you will have real-time answers to your questions without hiring an army of analysts.
3. Operations: Property Manager Support
Are you a property manager looking to streamline your workload? With so many responsibilities, it’s easy to feel overwhelmed. By setting up automated, daily reports that help you prioritize your day, you can save time and increase efficiency. Take control of your workload and streamline your processes with these simple strategies.
4. Operations: Property Turns and Work Orders
Staying on top of unit vacancy is crucial for smooth operations. Automate key tasks such as marketing, renewals, and leasing as lease expiration approaches. And when a unit does become vacant, speed up the turnaround process by automating to-do lists and critical dates for project managers and owners. This will help you lease the unit and generate revenue as soon as possible. Don’t let vacancy slow you down – use automation to streamline the process.
5. Marketing
Effective marketing is key to success in the real estate industry. However, it can be time-consuming and costly. Automate as much as possible. Use AI to support the parts that can’t be automated. And don’t forget about tools like Python, Canva, and CREx – they can help you create professional marketing materials without breaking the bank on a marketing firm. Streamline your marketing efforts and save time and resources with these strategies.
Does your assets under management chart match your headcount growth?
Top 5 things to automate in Real Estate.