We recently read a review of back-office technology and noticed that most Brokerages in North America are still slaves to their offices because of their archaic desktop software.
Given today’s technology, this is a shocking revelation!
Real Estate is a mobile business and everyone is on the go all the time – at least they should be. Look, we all like to get together. Having an office with a fun and supportive environment is great for fostering relationships but a requirement to be “on-site” to drop off and shuffle around paperwork is costing you.
What, exactly is this costing you?
- Time lost in transit
- Time lost by administrators entering data
- Time lost in communications via email, phone calls, and faxes
- Time lost correcting the inevitable data entry errors.
Time is money and lost time is gone FOREVER.
But this is costing you more than just time:
- You can’t access live data unless you’re sitting in your office
- You can’t report to agents on their deal status or requirements after business hours
- You’re paying for excess office and storage space to house people and paper.
In our blog post called The Real ROI on Digital Real Estate Transactions we breakdown the time it takes to submit, create, review, manage, close and pay an Agent when using desktop software and compare it to online integrated systems:
Removing lag time we calculated that the typical deal takes an average of 2 hours to load and get funds to an Agent’s account.
Let’s be generous and assume that a typical Brokerage has already digitized at least half of these steps, that would speed it up to 1 hour per transaction.
Compare that to online systems and you’ve wasted 40 minutes. Yes, you read correctly! Loft47 clients boast they can bring in a deal from a transaction management platform and pay it out in under 20 minutes. Start to finish. (If you don’t feel like pulling out your calculator, that’s 67% faster!)
Clearly, there are significant time savings associated with going online. But do you know what else? The benefits of web-based software aren’t just about time. You also gain:
- Global accessibility
- Multi-user collaboration
- Line of sight to performance and operations
- Accurate income projections
- Integrated and automated data flow.
Take advantage of integrations with other web-based tools to move data from lead management or CRM products through transaction management and right through to the automation of your accounting and payroll.
Going online means you can work from anywhere and collaborate with your staff or agents in real time. Not only can you access your data with a click, but you can also give all that information back to your Agents. They work evenings and weekends – and so should their data!
- It’s time to get out of the office.
- It’s time to free yourself and your staff from inefficiency.
Get off your desktop and get online now. Check out how our integration partner, dotloop, offers a ton of online tools you can use to get more efficient.
Loft47 – A level up