Why don’t brokerages update their business process systems to create the exceptional real estate transactions consumers and agents are looking for?
Most real estate companies don’t run efficiently because effective business process systems are nonexistent, and any business process management is a mostly rudimentary, manual process. So I wonder: If the manufacture of a coffee drink or automobile can have systems that assure consistency, quality, and great experiences, why can’t the same be said of a $300,000 home—the most important investment most Americans will ever make?
“I would like a Frappuccino™ please.” Business process systems are everywhere you look.
I am a firm believer that the real estate transaction has been commoditized. What is going to separate the winners from the losers will be the quality and consistency of what the brokerage and its agents can deliver to the consumer. The key to this will be the ability to install business process systems that facilitate the seamless, accountable, and transparent organization of information key to the real estate transaction. Improving your business process management will allow you to deliver the best real estate transaction possible for agents and consumers.
“I love the way the new Ford Mustang™ drives!” Business process systems deliver a great consumer experience.
Those brokerages possessing the most efficient business process systems will be in the best position to deliver better, more consistent and more profitable real estate transactions. Delivering a superior transaction results in satisfied agents and happy clients. Furthermore, agents that understand the importance of business process management will be eager to join brokerages that focus on improving their business process workflow. The brokerages willing to make the necessary investments in their business process systems appeal to the agent of the future—the demographic that brokers desperately need to win big in their markets.
“I am considering listing my house with your firm.” How well do your business process systems perform?
Surely there will be those that say it would be nice to have better business process systems but will balk at making the necessary investments. To those brokerages, I point out what early adapters accomplished in other industries:
Although it may not seem necessary today, installing business process systems and focusing on business process management solutions is critical for your real estate business. Streamlining the real estate transaction is increasingly important as consumers continue to demand a better transaction experience. Furthermore, better systems and processes will ultimately deliver cost savings and efficiencies that will allow you to squeeze additional dollars out of every transaction.
More efficiency, increased profits, and better consumer experiences will lead to stability and growth in the new and turbulent world that is real estate brokerage.
Jose Perez is the president of PCMS Consulting, a provider of recruiting, Internet, management and franchise solutions for the real estate brokerage industry.
For more information, visit www.pcmsconsulting.com.