If you want to stay focused on your growth targets in real estate, the first thing you need to do is ensure you don’t get buried in the day-to-day tasks of back office operations. As a real estate firm, you’re likely handling a plethora of back office work such as property management, transaction management, document management, commission management, payment management, and so on.
Although these tasks are important, they also consume a significant amount of your time, making it challenging to focus on growth-related tasks such as improving marketing, lead generation, follow-ups, site visits, and closing deals.
Many real estate businesses become absorbed in their operations, leaving them with minimal time to strategize for sales or growth, thus making it difficult to keep up with their competition.
To address this issue and save your valuable time as a realtor, you can utilize real estate back office software like Sellxpert. It will assist you in unloading all your repetitive and operational tasks, allowing you the freedom to focus on your growth.
What is a real estate back office software
A real estate back office software is an online computer program or mobile app that helps you manage tasks, especially back office related. In the real estate industry, there are a lot of important back office tasks that have to be managed efficiently. Listing Management, Associate Management, Commission Management, Transaction Management, Booking Management are some of the jobs that such softwares do effectively.
What you can do with a real estate back office software
A real estate back office software can handle after sale tasks in the real estate industry. Real Estate Software like Sellxpert offer a wide rank of back office management features. Here are the top functionalities that you must look for in a back office software:
Storing data in real time – A real estate software can help you store data in real time. Whether you want to add a project, an inventory or a new associate – You can simply create it using your software.
Customer data management – Customer details like name, number, cities, address, interest and interactions are important for a real estate firm. A robust back office management system does it perfectly. You can store various details about your prospects and refer back whenever you need to.
Inventory management – When you have a new inventory all your associates and prospects must know. It helps you to present the right property to the potential buyers fast, helping you improve your deal closing rates. Real Estate CRM Sellxpert gives you a comprehensive inventory management module to effectively manage your inventories.
Transaction management – To effectively manage the payment, it’s vital to have a secure and transparent transaction management system. Your back office software must support EMI management as well so that you can keep track of all the EMI paid and remaining so that you can send notification and reminders.
Associate management – It’s important to keep track of all your associates. You can do that effectively using a back office management software. You can add an associate to your team, manage their document, attendance and even commission. Sellxpert also offers a joining link module which helps you to hire new associates using a url. You can also maintain user hierarchy and commission structure with it.
Document management – Storing, organizing and maintaining customer documents is a crucial task. It’s a stressful task which consumes a lot of your time and energy if you do it manually. Thanks to technology, now you can do that with just a few clicks with real estate management software like Sellxpert.
The impact of real estate back office management software on your business
Back office management is the first thing you have to figure out if you want to play big in real estate. It will get harder and harder if you stick to the old methods of back office management. Having a fast, accurate and working back office management software can help you scale big without getting lost in operation. Here are the top benefits of using a back office software:
Time of high productivity tasks – As your client base grows you get busy in documentations, transaction, hiring, training & other operational processes. When you use back office software, you can save a lot of your time and human resources. Regardless of the number of clients you have, you can manage everything with precision.
Chaos free management – Human error is common, it doesn’t matter how well your team is trained. With a right back office software, you can bring human error close to 0%. It makes repetitive tasks fast, easy and error free. The accuracy also adds to your customer satisfaction level.
Motivated sales team – Commission is the prime motivation for a sales representative. If a company fails to maintain a fair commission policy, associates get frustrated pretty quickly. Sellxpert has a powerful commission management module that can manage commission with great accuracy and transparency. Everybody gets the commission that they earned with their hard work.
Drawbacks of real estate back office management
Implementing real estate back office software also presents challenges. You can overcome these challenges by establishing clear goals and processes to follow. Here are some drawbacks you may experience at the initial stage of implementing back office software at your company:
Implementation – Implementing a new system is always challenging and can temporarily affect your operations. You can ensure a smooth implementation by selecting a software provider that offers robust implementation support and training.
Training – Training presents another challenge for most companies. You must choose a real estate back office software that provides continuous tracking and support from staff. Without proper training, it can be difficult for your team to utilize the software to its full potential. The Sellxpert support team provides exceptional service during the implementation and training period.
Dependency – Utilizing back office software can significantly increase dependency. For every small detail, you may need to refer to the software. When the system is down, you may have to wait until it resumes operation
Conclusion
Real estate back office software offers immense benefits. The most significant advantage is the ability to store, organize, and access your data from one place. It provides you with a competitive edge over your rivals and establishes your brand. No more repetitive tasks stand in your way, hindering your ability to scale significantly. If you’re interested in a demo for real estate back office software, book your free consultation today.
