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There’s a familiar experience we all share at a hotel buffet – wandering through with a plate, sampling a bit of everything until we’ve assembled a meal that’s diverse, but somewhat chaotic.
This same scenario often mirrors what I observe in the operational systems of many real estate businesses.
With a vast array of technology platforms available, many companies adopt multiple solutions. However, these tools often overlap and are not fully utilised, resulting in inefficiencies rather than enhancing operational efficiency.
As the year draws to a close and we begin strategising for 2025, reviewing operational costs and procedures should be a top priority in positioning your business for success.
Here are some key questions I would consider as a business owner or operational leader:
When was the last time you audited your systems?
Review the platforms you’re currently paying for and assess whether they are delivering real value. Identify whether your existing tools have untapped features that, if fully utilised, could eliminate the need for other subscriptions. It’s not about having the latest groundbreaking technology – more often, optimising one well-integrated system can reduce reliance on multiple others.
Are there automations within your systems that you can leverage?
Many CRM platforms now provide automation features, allowing for instant responses to buyer inquiries and managing email communication throughout the entire sales journey for both vendors and purchasers. By replacing manually edited Word documents with automated templates and workflows, you can streamline operations and save significant time with just the click of a button.
Have you implemented a digital signature solution?
Consider adopting a digital signature platform that enables your agents to send contracts directly to vendors for signing, and forward fully executed documents to your administration team and conveyancers. This can greatly reduce the time and costs associated with printing, signing, scanning and sending paperwork.
Can you digitise your property marketing?
Explore partnerships that can automatically generate social media posts and ad campaigns targeting specific audiences as soon as your listings go live. This will save time on manually creating marketing assets and ensure your properties reach buyers whose preferences align with the listing. Consider incorporating this service into your vendor paid advertising (VPA) package for added value.
Are you ready to transition to a paperless environment?
The days of physical manila property files being passed around the office are behind us. Consider transitioning to an online collaborative platform where you can centralise your office processes and checklists, assigning tasks to team members. This shift will not only eliminate the costs associated with paper and printing, fostering a more sustainable workplace, but also provide full visibility into the status of processes, accountability and a more efficient business overall.
The technology landscape in our industry is full of exciting possibilities, offering the opportunity to build smart, efficient businesses when used strategically. However, without a clear strategy, it can quickly become chaotic, much like a plate piled high with mismatched food.
Take the time to carefully select the tools and systems that align with your business needs to create a more streamlined, effective operation, and tame that tech buffet!
Kyrstie Nolan is head of operations at Harcourts.
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