The benefits of transaction management for real estate agents

For any real estate agent with a lot of work on their plate, there’s no typical kind of day. With a constantly evolving list of tasks to perform including lead generation, open houses, working with clients, tours, property closing and administrative duties, each day seems totally different.

With so many jobs to do and a seemingly never ending supply of paperwork, how does a competitive real estate agent keep ahead of it all?

An experienced agent will tell you that the key to success is the maintenance of a careful balance between income-producing jobs and administrative jobs. The best way to manage this balance is to take advantage of transaction advisory services.

The best agents use transaction management services

The most accomplished real estate agents will use some kind of commercial real estate transaction manager software in order to automate administrative processes. This technology is used to manage leads, automate paperwork and, importantly, to free up time so real estate agents can pursue revenue raising tasks.

More agents than you might think have been slow to adopt transaction management services. This is a mistake, as they can increase their productivity and in turn their profit by using transaction advisory services.

Improves organisation and efficiency

Most people will agree that in order to generate higher returns, you need to work longer hours. Short of actually working through the night on commercial real estate due diligence, automated software can take care of this for you.

All of the boring administrative tasks that don’t actually use your skillset as a salesperson are distracting you from what you’re actually good at. It makes sense to automate this work through a computer system that is designed to process sums and spreadsheets.

The whole process works to get rid of large amounts of paperwork and ultimately make the timeline of commercial property transactions much faster. Whether they are a broker, seller, buyer, insurer or appraiser, they will benefit from the time saved by transaction management services.

For real estate agents they will gain access to important documents with just a few clicks, anywhere, anytime they need them. It also keeps you more focused and organised by recording reminders and prompting you with deadlines, so you can prioritise your work better.

The proper use of transaction advisory services means that nothing falls through the cracks.

Improves communication

Using cloud-based software platforms for commercial property due diligence also helps to improve channels of communication between you and your clients, team and broker. It enables all involved parties in the transaction a way to view, manage, share and store important documents through the internet, easily keeping everyone up-to-date.

Your clients will be enabled to see which developments are taking place in real time, which eliminates a large amount of rudimentary paperwork and correspondence.

Keeping clients updated on how the transaction is going with transaction management software will work to improve their overall satisfaction. This will in-turn lead to more referrals, as satisfied clients will benefit your reputation as a real estate agent.

The easy to access and easy to update format of transaction management software works to cut down on the uncertainty and formality of commercial property due diligence. By improving client satisfaction and cutting down administrative duties, you ultimately get much more free time to pursue new leads.

Improves competitiveness

Obviously, when your business is more efficient, more organised and more client oriented, you become a more competitive real estate agent. By using transaction management services you are already competing at a higher level than every real estate agent who doesn’t.

In the time other agents spend carrying our commercial property due diligence, you can be out there generating new leads and better support your existing clients. This will all help to improve your reputation as an agent as more people see you as a ‘hands on’ professional.