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As more people seek comfortable houses, prime commercial properties, and additional office spaces, the real estate market works tirelessly around the clock. Property companies juggle multiple paperwork to ensure smooth contract negotiations and prompt bill payments.
Behind each stakeholder’s success, a third-party team lurks to support its foundation. Business process outsourcing (BPO) providers are vital to the real estate sector’s continued growth. They offer flexible opportunities to improve efficiency and cut operating expenses.
Perhaps you think, “What are these outsourcing options? Why should my team consider acquiring them?”
Let us help you decide through this article.
Why Should You Consider BPO Opportunities?
Reduced costs, increased productivity, and better access to specialized expertise are the most common reasons you should consider outsourcing real estate functions. BPO allows you to optimize cutting-edge technologies without worrying about extra fees for system maintenance.
BPO also enables more flexibility than handling all your processes in-house. It lets you increase your labor force without hiring more full-time employees or buying extra office equipment.
Contracting a service provider is also ideal to reach a worldwide scale. BPO companies offer support across different time zones and languages, diversifying your client base. Addressing the following challenges is what BPO’s other critical role in real estate is:
- Repetitive admin tasks, such as data entry and management
- Slow responses to clients’ inquiries, concerns, and complaints
- Exhaustive market research and data analysis
- Back-office backlogs and delays
- Insufficient data privacy and cybersecurity measures
- Delayed lease and loan processing
- Piled-up legal paperwork
- Decreasing sales and revenues
Due to such benefits, Deloitte reported that 12% of businesses worldwide outsourced their real estate and facility management in 2021. They cited cost reduction and improved process efficiency as the most tangible advantages.
What BPO Opportunities Await Your Real Estate Business?
The opportunities that await your real estate business are plenty. Amid globalization and digital transformation, outsourcing gives your business cost-effective access to a large talent pool and state-of-the-art technology. These third-party resources help you accomplish your front- and back-office tasks faster and more accurately.
But no matter what categories of BPO services you acquire, you must choose a provider that meets your requirements and goals. High compatibility with your BPO partner lets you maximize the listed opportunities for continuous business growth.
Optimize Artificial Intelligence (AI) Solutions
Leveraging AI-powered tools is a common but essential advantage of outsourcing your non-core functions to service vendors. These cutting-edge technologies automate admin tasks, such as contract management and document processing, to reduce manual labor and errors.
Service providers also use AI algorithms to facilitate property valuation for home sales and market assessment. These solutions help quickly and accurately analyze vast amounts of real estate data, including list prices, industry trends, and comparable sales.
BPO companies use such insights to build automated models that generate reliable and rapid property valuations. These frameworks provide real-time property value estimations, enabling informed pricing decisions for mortgage lenders and real estate clients.
Besides automated valuation models (AVMs), AI boosts the listed technologies for improved real estate operations:
- Chatbots and automated email responses for 24/7, personalized customer support
- Predictive analytics tools for accelerated market forecasting and reporting
- Image recognition solutions for property condition monitoring and assessment
- Natural language processing (NLP) for understanding client preferences
- Virtual and augmented reality (VR/AR) systems for immersive virtual property tours
Personalize Customer Support and Marketing Techniques
Personalizing customer support and marketing is crucial amid the constantly increasing demand for real estate services. The approach makes your business stand out and helps attract potential property buyers or renters.
According to Twilio, 45% of shoppers will leave a company after it fails to provide a personalized experience. The same goes for any real estate business. Falling short of understanding its client’s personal choices regarding properties and customer experiences results in poor credibility and market standing.
Fortunately, third-party providers use effective customer service and marketing strategies that fit your budget. BPO vendors combine real estate expertise and modern technology to boost your client base.
Suppose a few potential homebuyers browse your business website for a new property in a suburban area. You outsource your customer service and marketing functions because your company is in demand and requires extra hands. Third-party real estate professionals help enhance your client’s experience in the following ways:
- Personalize customer support through chatbots. These bots automatically inquire about specific preferences for a new home, such as desired location, budget, and property features. Chatbots offer tailored recommendations based on responses to automated options to meet customers’ criteria for a property.
- Send targeted marketing emails and social media advertisements. BPO workers produce content showcasing properties similar to a client’s search history and interests. These digital materials include virtual property tours, neighborhood highlights, local amenities, and testimonials.
- Conduct follow-ups and feedback analyses. The BPO team actively engages with the clients regarding property tour bookings and contract negotiations. Once a deal is closed, the third-party real estate agent or broker will perform customer satisfaction surveys and reports to identify areas for improvement.
Offer Virtual Tours and 3D Visualization
BPO companies help broaden your real estate client base by delivering virtual tours and 3D property visualization to potential customers overseas.
According to Zillow’s latest statistics, 66% of successful buyers stated that 3D tours are better than static photos. Consumers noted that these services save time by letting them understand the floor plan before visiting in person and identifying if the space meets their criteria.
Third-party vendors use VR/AR technology to remotely give potential buyers or tenants a 360-degree view of your properties. They use the following methods to deliver an exceptional virtual tour experience:
- Create and manage high-quality content for remote tours. Providers help develop high-resolution images, videos, and 3D renderings that showcase properties in a detailed and engaging manner. They also incorporate descriptive narratives highlighting key property features to ensure a seamless and user-friendly viewing experience.
- Integrate VR/AR features into your digital real estate platforms. These systems include your websites, mobile apps, and other online channels. VR/AR lets clients customize their viewing experiences and explore properties from various angles and perspectives.
- Provide real-time customer support for users engaging with virtual tours. BPO real estate agents assist potential buyers and renters navigate VR/AR platforms through video or live chat. They answer inquiries while facilitating a smooth virtual viewing process.
The Bottom Line
Outsourcing offers game-changing opportunities to improve your real estate business without affecting your tight budget. BPO companies provide affordable access to specialized expertise and advanced technology to help attract potential clients and meet their property requirements.
Optimizing AI and VR/AR solutions enables contractors to boost daily real estate functions. Wherever the potential buyers and renters are, these resources personalize their experience, from customer service to virtual property tours.
Let’s connect and weigh your BPO options if you want to enjoy similar benefits. Unity Communications has diverse real estate professionals and solutions to help secure your property deals.
