Robotic Process Automation for Real Estate Businesses

Robotic process automation (RPA) in Real Estate is an opportunity to make your real estate agency leaner and more efficient. RPA helps in improving customer service, avoiding tedious workday routines or boring as well as improving ad quality. Document management and inventory management are some of the other processes of real estate businesses, which are repetitive, time-consuming, and rule-based processes. Such tasks can be reduced with RPA automation in Real Estate.

Challenges in Real Estate Business:

  • Lead cost is high as compared to the conversion ratio
  • Managing paperwork
  • Managing the back-office task
  • Not having an established sales process
  • Supply chain management inefficiencies
  • Declining consumer confidence

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    Implementing RPA in Real Estate

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    Needs Assessment

    Identify the processes and tasks that need automation
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    Vendor Selection

    After considering factors like compatibility, scalability, and support, choose the RPA solution as per the requirements
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    Process Mapping

    The automation process should be mapped out in detail for the correct RPA configuration
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    Testing and Deployment

    Testing is essential before deployment. All errors and issues must be addressed during this phase

    Benefits of RPA for Real Estate Business

    RPA automates repetitive manual work and real estate businesses have reported fabulous results with its implementation.

    • Compliance Support 
    • Cost Predictability
    • Enhanced Visibility 
    • Increased Productivity 
    • Minimum Errors 
    • Process Standardization 
    • Reduced Costs 
    • Resource Optimization 
    • Scalability

    10 RPA use cases in Real Estate

    Tax Billing and Reporting: 

    • Bots are used for extracting information, preparing property tax invoices
    • Compilation with fiscal documentation
    • Faster and accurate

    Lease Contract Processing:

    • Entering data in a standardized form
    • Creating the tenant account 
    • Landlord’s digital signature

    Resident Communication:

    • Effective interaction with residents
    • Automatic message notification regarding rent increases, contract renewals, rent payments, and key returns. 
    • Check incoming payments from time to time

    Tenant Onboarding:

    • Creating new tenants’ applications
    • Checking of criminal records, referrals, and others for final approval
    • Filing proper documentation faster and more accurately

    Maintenance and Cost Management:

    • Management of maintenance costs
    • Automate heating, water, and electricity reporting
    • Consumption-based invoicing
    • Maintenance requests

    Bank and Account Reconciliation:

    • Reconciliation
    • Extraction of bank account statements
    • Identification of discrepancies in the cash flow

    Accounts Payable and Receivable:

    • Processing inbound and outbound invoices
    • Extracting salient data from incoming invoices
    • Drafting standardized forms addressed to customers

    NAV Calculations:

    • Measurement of future returns of a real estate investment fund
    • Calculating parameters by comparing different types of market data

    Marketing Automation:

    • Automation of content publication on social media
    • Enhances predictive data analytics in marketing
    • Automation of sending emails
    • Keeps the customer base updated with the latest real estate news

    Modernize your Real Estate with the Bista RPA Platform

    The real estate industry is experiencing a technological revolution, and RPA is at the forefront of this transformation. 

    By automating routine tasks, RPA enables real estate professionals to focus on exceptional client service, create data-driven decisions, and remain competitive in an active market. 

    As technology advances, integrating RPA into real estate operations will become more and more important, promising a future characterized by greater efficiency, improved customer experience, and sustainable growth. 

    Embracing innovation, promoting transparency, and prioritizing sustainability are key strategies for the industry to overcome challenges, grow and prosper in an ever-changing market.

    Bista Solutions is not just a place for automation, but also a place for knowledge and experience. We have a team of experts who are ready to help you get started and take your business to the next level through intelligent automation.

    At Bista, we provide consulting services to RPA development, we have everything to make your processes faster, more efficient, and more accurate.