Real Estate BPO
The real estate market is one that often fluctuates in price – either due to seasonal price dips or an increase in demand.
Added to this, several tech developments have clearly disrupted the market, which means real estate agents who do not stay up to date with current trends or developments could find themselves losing out on business opportunities and potential revenue.
One way to ensure that you stay competitive and retain a strong presence in the real estate market, is by bringing in much-needed support for non-core tasks that can bolster and streamline your business processes.
Whether you are currently running your real estate business in a strong sellers or buyers market, or work as a real estate broker, using real estate BPO companies can strengthen your business and enhance its value with several available services and skills.
Let’s review what real estate BPO involves and how real estate agents and others can benefit from these services.
What is real estate BPO?
Real estate BPO describes how a real estate professional would outsource non-core administrative and customer support tasks to boost its business operations.
Depending on where the outsourced provider is based, these tasks can be performed remotely for real estate agents, or in person when tasks such as property photography or drone visuals are needed.
What are the services that are typically included as part of real estate outsourcing?
Real estate BPO providers are experts in various processes and tasks required to run successful real estate professional back end operations.
As part of their business process outsourcing tasks, they can set up appointments between interested property owners or buyers and real estate team members, provide comparable sales data, do comparative market analysis, assist with accounts, prepare reports, and in some cases even deliver documents that need signatures.
These are only a few examples of how BPO providers can assist professionals in the real estate industry and many third-party providers can even expand on tasks for a more robust service offering.
Why do businesses choose to work with a real estate outsourcing company?
The administrative side of running a real estate company often involves repetitive tasks that can be time-consuming, especially during busy business times.
This can potentially slow down an in house team’s ability to quickly respond to client queries and process important documents.
However, outsourcing services to professionals with market knowledge can make easy work of admin, handling anything from paperwork and market research to data entry, appraisal, and loan processing.
This is why many companies choose to work with external BPO providers: They offer incredible convenience, flexibility, and agility for non-core yet necessary administrative tasks.
What are the benefits of outsourcing real estate services?
Real estate BPO has several advantages.
Here are some benefits of working with outsourced BPO professionals:
1. Flexible, cost effective outsourcing services that save valuable time
There is no one-size-fits-all approach when it comes to real estate BPO.
Every service package can be adapted according to a real estate agent or business’s needs, and fill the gap where resources might be lacking.
Part of this flexible approach could include property photos (if a third-party provider is located close to a business’s area of operation) or drone photography.
Third-party providers can also manage social media accounts, campaigns, and online responses, which adds another level of expertise that companies can benefit from.
All of these tasks can be done at a lower cost when compared with in house services.
2. Tech-forward solutions without any extra costs
Real estate BPO companies already have tech skills and capabilities available that a business can leverage for its operations.
These include AI solutions such as chatbots, analytics tools, and virtual reality solutions for property viewing.
3. Customer support that could be available 24/7
For companies with a global footprint, 24/7 customer support is key to ensuring various time zones can be accommodated.
Outsourced partners can become a trusted extension of a business when it is always available for customer queries from anywhere in the world.
They can ensure that customers are quickly assisted and that there is no delay in feedback.
4. Updating listings on online platforms
Time is a precious commodity when it comes to real estate.
Getting a property to market and selling it quickly can ensure that sales can be made swiftly and that prospective buyers can quickly be reached.
Third-party providers can play a key role in updating websites and social media with new listings, as well as answering any queries that interested buyers might have.
When is the right time to invest in real estate BPO?
Several indicators suggest you should consider partnering with a real estate outsourcing provider.
These include struggling to keep up with your competition and often having work backlogs that you seem to never catch up with.
Also, if you do not have in-house resources for tasks such as photography, social media, or even website updates and hosting, it can be a perfect time to get the service of a skilled third-party provider.
Get in touch
Your real estate business is set for success when you employ outsourced real estate agents and service providers for a long-term project or a certain period.
Why wait to experience this difference – contact our team today to find out how your company can stay ahead of the competition and benefit from the skills of expert third-party providers at a low cost with high quality results.
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FAQ's
Have a look below for more information about the great value of real estate BPO for the real estate industry and real estate professionals.
What role does real estate BPO play in the property market?
Real estate outsourcing companies can play a crucial part in making businesses more efficient and on par with industry standards.
They can provide the resources needed to leverage the latest technology to perform services and use capabilities such as social media and digital marketing expertise to boost the operations of any business.
Should you outsource real estate services only to nearby third-party providers?
If the support that you need will only be needed via virtual support, you can certainly work with any BPO partners across the globe.
However, for services that need to be performed in proximity to your business area (such as photography or videography), a provider that is located closer to your company might be a better fit.
What are some real estate BPO services that you could consider for your business?
Tasks that could be outsourced include data entry, document management, analytics, database management, accounting, website updates, social media management, comparative market analysis, and more.
These value add tasks can be adapted according to specific factors that will help a business achieve its goals, and can be done for agents, brokers, and any other real estate professional.