Technology is not the enemy. In years past it has been viewed that way. Today in industries where technology, more precisely automation, is eliminating jobs, fear of technology is growing. At the same time, consumers expect the conveniences afforded by technology.
Commercial real estate is not immune to job losses due to technology nor is the industry immune from the fear. However, in commercial real estate, you can leverage tech automation to streamline your business and make your services better. In other words, the only thing to fear is fear itself!
3 Ways to Unlock Growth Potential Using Technology
There are a lot of reasons that you may not be using technology to the best of your abilities. Perhaps after decades in the business you’ve simply grown accustomed to taking notes on stickies and jotting down ideas on the nearest piece of paper. It could be that your business has grown faster than you can keep up.
Whatever the reason, your technology can only make your job easier and business prospects better – if used correctly that is. Most agents are spread out throughout the region and in some cases, throughout the country or the globe. Being able to coordinate and communicate efficiently is paramount.
How your technology automates, synthesizes, analyzes, and reports data will determine how useful it will be to your business processes. Here are just 3 ways you can use technology to unlock your company’s growth potential:
#1: Keep Your Tech Up-to-Date
Technology is constantly improving and advancing. In order to maximize technology to your advantage, you have to use technology that is up-to-date. If you are operating a system that hasn’t been updated in five years or more, you are not up-to-date.
Almost 90% of “business buyers” according to Salesforce.com “expect companies to understand their needs and expectations.” In commercial real estate, that means producing specs and walkthroughs using 3D and virtual technology.
#2: Use the Right Tech Tools for Your Business
One big problem with sticky notes and jotting things down on scraps of paper is there is – ironically – no paper trail. You’ll lose paper too easily and can you remember all of the salient points that you jotted down from an impromptu meeting a week ago?
Technology leaves a digital paper trail that is not easy to lose. Plus you can add alerts and share those notes with those on your team. There are CRM tools made for retaining customers and clients in different industries. Make sure you are using a CRM platform made for CRE professionals to really get the most out of your technology.
#3: Rely on Tech that Streamlines as Many Functions as Possible
Fear of automation is unwarranted in commercial real estate. There is no robot, at least anywhere near ready for primetime that can fully replicate the human touch. Brokers and agents are fairly safe from losing their jobs to technology – except from competition.
The real fear from technology for those in commercial real estate is how well your competition is leveraging it versus the way that you are. Automating as many functions as possible helps to streamline operations in a way that leaves you more time to focus on closing big deals and securing new prospects.