The property market always rested on its tenets of being an evergreen sector, despite fluctuations in the economy. That gave it a cushion to operate in a way that didn’t always keep up with the times. However, the recent past seems to be throwing up quite a few surprises, pushing some businesses into losses, while scaling others to better growth. One of the reasons behind this is how extreme they turn their real estate management software knob on.
If the property market is hot already, then real estate software is fuelling its pace by quite a few notches. Since you’ve begun your journey or are making headway with real estate management software, it’s time to set aside the mundane routine of using it for marginal growth, but to power your way and unlock hidden growth. When you reach that goal, I think we can safely define you as a ‘power user’. The journey is not hard or expensive, but it requires credible effort from your organisation.
Becoming Intentional About Getting The Most Out of It:
Getting towards the relative term of a ‘power user’ is not by getting to know some secret software hacks or incentivising your employees to extract more from the software for property management, but by holistically getting the needle moving towards that end.
Organizations or stakeholders whose strategic decisions might improve or deteriorate the company’s future must be intentional in their overall roadmap towards getting the best real estate management software to return even greater ROI than what it is right now.
Half-baked or ill-intentioned attempts because of pressure from higher-ups or property owners will not take you from a right use of real estate management software to a great user. The start must put the right foot forward, and progress can be aligned to the objectives that are set.
Training& Cultivating a Software-Friendly Culture Across Teams:
Years of experience with a range of real estate owners show us how many had failed when they launched their real estate management software with much fanfare, predicting the end of their declining growth, Unfortunately, waking up each day, doing the bare minimum with their property management software landed them in an even greater mess.
Not only were they able to derive higher ROI from their real estate software, but the revenue that went into its deployment didn’t read much. Targeting to become a power user is not just a one-man effort. Adequate checks and balances must be in place for your employees or partners, to know their level of awareness, and what features employees miss using.
Then, training must be given either through experts from the vendor or via internal knowledge sharing mechanisms. Further, the contagious mindset of technology-averse stakeholders in the company is bound to seep in and affect the others. This must be addressed to start powering your growth.
When Machine Intelligence Meets Human Intelligence, Growth Is Explosive:
Magic ensues when the machines and humans join hands to tackle corporate or marketing challenges. While human intelligence will be needed for a long time to address problems that require judicial reasoning and human empathy, emerging technologies like artificial intelligence and intelligent robotic automation can use exciting techniques to comb through swathes of data.
Then, they look for patterns and suggest the next best thing to do. On the other hand, humans or property managers or owners bring in the interactive, cognitive and socially relevant characteristics. Intelligent real estate owners or managers will leverage software for property management to extract the best the machines can give, and use them to understand to combine features or scale another to be able to expedite specific functions.
Fighting The Status quo Must Be Your New Normal:
Certain studies show the real estate software market is growing at around 6% every year. If there are power users of real estate management software, who begin to find ways to increase its use, the property market which is mired in legacy processes can become more agile, more efficient and accelerate its growth. Match the growth with an equally stunning interest showing by venture capitalists and investors worldwide, and the result would show a more significant number of players committed to challenging the status quo.
Being Tech-Smart & Future Ready Are Second Nature:
Having a general inclination towards the way technology works, understanding how interfaces work and a belief that it streamlines work and makes life better are all traits that make one tech-savvy. Translate that to the pursuit of becoming a professional at leveraging real estate management software, and exhibiting those traits pays off.
It’s great to have one-off training or software experts from the best real estate management software vendor you have chosen, but anecdotal experience tells us that some champions who are considered tech-smart usually go on to become pro users.
Also, having a wide eye on new technologies entering the market, like blockchain or the Internet of Things or even chatbots, can help in anticipating future technology trends that can be experimented currently. Taking some calculated risks in deploying relevant technologies can pay off when found to be beneficial.
Some startups are already visualising the future, both figuratively and actually. Technology is moving fast, and if your company doesn’t get a grip on the current modules that your best real estate management software offers, it sets an undesirable tone for new technologies that will be added in the future. Move your inhibitions aside, and start exploring the world of real estate management software. Become a power user to be able to reap significant ROI for your business.