Ways to Automate your Real Estate Business
Real estate investors are scaling quickly with automation tools that improve operations. Here’s how you can integrate automation into your business
As a real estate investor, you probably wear many hats. One day you might be working with contractors, another day you could be bidding on properties, then maybe the following day is spent marketing.
Additionally, you have to have competent financial and bookkeeping skills to ensure that your business is on track with rent payments and you’re making healthy profits over losses. Every part of your business has a specific function that plays into your greater strategy.
There’s only one of you and a finite number of hours each day. When it comes to real estate business, automation is perhaps your most useful tool at your disposal. By automating as much as you can, you can free up your time to focus on finding your next deal or managing your existing tenants.
What is automation in real estate?
Automation refers to using technology to complete tasks that would otherwise be done manually. In the context of a real estate business, automation can encompass anything from using software to manage your bookkeeping, to setting up an online platform to market your properties.
It should be noted that if you are disorganized, automation will make things worse. First, you have to create sound systems, then employ a host of different softwares that further improves your business.
There are a multitude of benefits that accompany automation–when done correctly. If done well, you’ll be able to save time and money on a variety of tasks in your business. Ultimately, these free up your time to make important business decisions and grow more seamlessly. Let’s jump in.
Property management tools
Do you have short or long term rentals? Are you a property management business owner? Regardless, it’s imperative that you keep a close eye on your properties by staying organized. Here are some of the best tools available:
The best property management software will make your life easier by automating some of the most important tasks in your business. For example, as a landlord you want a simplified way to screen tenants and respond to maintenance requests. Having everything in one place allows you the luxury of strong oversight.
A quick note on accounting and financial automation
Your finances in business can be tedious, but they can also be easily automated. By automating your finances, you can save time, money, and you can also avoid potential mistakes that could cost you dearly when tax season rolls around.
When choosing property management software, be sure to pick a product that fits the specific needs of your business. Plenty of products out there have outstanding automated bookkeeping capabilities and can track income, expenses, and even profits and losses.
You should also make sure that the software you choose can integrate with your existing accounting software. This way, you can avoid having to enter data twice and you can keep all of your financial receipts in one place.
Generating leads is one of the most important tasks in property management. After all, if you don’t have any interested tenants, then you won’t be able to fill your vacancies. With the right software, you can automate your marketing and lead generation efforts so that you can focus on other aspects of your business.
Text message marketing
Text message marketing is booming in popularity because of its easy automation capabilities. As an investor, you can use text message marketing to reach out to potential tenants and promote your properties. You can also use text messages to remind tenants of upcoming rent payments or maintenance needs. These are some of the leading options in the space:
Social media marketing
While the name of the platform might change every few years, social media is here to stay. It offers a way to build your brand and reach your target audience without a huge marketing budget. Consistency is the key here, so to achieve that it’s prudent to have a backlog of posts and a plan for weeks to come. That way, it’s constantly running in the background.
Sending one email at a time is cumbersome. It could take thousands of emails to get a lead. Another problem might be having to send constant reminders to your tenants with in-depth directions. Whatever the case may be, this can be done more effectively in bulk. These tools simplify the marketing process for you:
If you’re looking for powerful online tools for your real estate business, consider Sundae’s Marketplace. With Sundae, you can easily find properties that fit your investment criteria and have deals brought to your email daily. Edge members receive added benefits for placing offers and beyond.
Access to Sundae’s platform without needing a desktop affords you and your team flexibility.Investing on-the-go has never been easier with our new Mobile App. See deals from your phone when you’re at job sites.
Sundae provides AutoOffer — where buyers can automatically bid on listings in increments and see Offer Position is yet another feature, and investors can see where their offers rank in real time instead of guessing. When you think about the insight you gain from knowing what your competition is doing, you can continue to optimize your process and expand your business.
Is automation your answer?
The real estate industry is booming business owners are always looking to stay on top of competition. There are a number of different ways that you can automate your business including with marketing, accounting, and even expanding your business by buying properties. With the help of automation, you can streamline your business so that you can focus on what’s important: making a profit and saving time.