5 Reasons Technology Fuels Broker Efficiency
Technology deployment can be a tough sale for most brokerages. The digital tools available to CRE professionals are specifically designed to expand capabilities and shrink inefficiencies, but some brokers still need convincing.
Increased efficiency is a powerful motivator for tech adoption in CRE. Here are some ways that technology makes more efficient operations a slam dunk.
Better Transaction Management
A CRE transaction is a complex process, often involving a wide variety of participants. Using technology to manage the process drastically shortens the time required to get from offers to closing.
Brokers can use CRM platforms and other tools to share documents and information with the people who need them. Look for commercial real estate software that provide 24/7 on-demand access to critical documents, email and updates. Your clients will love you since they’re able to self-serve their need for information. It’s up to you to make it all available and easily accessible though.
More Targeted Marketing
By enabling the aggregation of a wide range of data, technology provides brokers with a much richer picture of potential clients. Content can be closely tailored to match up with the recipient’s interests and background knowledge. This saves tremendous time that might otherwise be spent on more generic information that generally produces a poor response.
Record your clients’ needs and log each of your interactions. This allows you to create target lists with laser focus based on proprietary intelligence that you’ve uncovered. Your subsequent marketing campaigns should be far more effective since you’ll be driving relevant, timely information to an interested audience.
CRE brokerage is not a desk job. You spend a large part of the day in the field: meeting with clients, visiting properties, chasing down a dozen details. Valuable time is lost whenever you have to return to the office to retrieve a critical document or piece of information. If you’re business doesn’t rely on online CRM and marketing platforms then get there now. The desktop is a graveyard.
With technology that’s compatible across devices, your business can follow you everywhere. Clients and colleagues no longer have to wait for time-sensitive information. Mobile apps help manage documents and stay in touch with contacts on the fly. Brokers can take care of business and provide access to information wherever they are.
With an integrated CRM, updates are entered once and instantly populate throughout the platform. This greatly increases accuracy, since the fewer times information is entered; the less chance there is for human error. Eliminating time wasted on going back to correct those errors makes everything run more efficiently, and as a bonus, more accurate work helps build client trust and loyalty.
More Integrated Systems
The variety of tasks that a broker faces each day can lead to inefficiency. Many of the figures and details necessary for marketing are also involved in prospect management, for example. Keeping this information in separate “silos” is inefficient.
Digital tools are now able to integrate these different elements of CRE, eliminating redundancies for more efficient and effective operations. They free up your time so that you can focus on providing distinguishing client service that ultimately drives profitability. Look for an all-in-one tool that helps you combine CRM, property tracking, client collaboration and more under one roof.