If there is one thing we have learned in the past two years, it’s that technology can be a good thing, bringing people together, giving pleasure, simplifying life, saving lives, and keeping the world going amid crisis.
However, technology solutions alone are not always the answer – the right technology must be used in the correct way to truly address a need or a want. Additionally, it must strive to evolve the industry rather than disrupt or unsettle it, as some PropTechs try to do.
One of the things we regularly hear from the estate agents is that they are confronted with an abundance of property technology solutions and simply feel overwhelmed with the sheer amount of products presented to them.
However we look at it, implementing the appropriate technology may aid in the transformation, growth, and enhancement of an estate agency.
Focusing on the End-to-End
One of the biggest problems of property technology is that many solutions focus on solving one problem at a time when a more comprehensive approach is needed. The finest PropTechs in the market are dynamic and multifaceted and serve as end-to-end solutions for specific needs.
From the financial and time management point of view, it’s much more logical to use a single end-to-end solution than attempt to join up several separate tools. It’s not only counterintuitive because each of them will have a different user interface and will be handled differently, but in the long run it’s unviable, as each piece has to be set up and maintained separately but also may prove to be less advanced, or downright insufficient or incompatible with your business’ processes, effectively becoming a crooked cog slowing down a well-oiled machine.
Reducing Your Staff’s Workload
One of the most tangible benefits of an effective PropTech solution is that it alleviates the workload of your team, helping you focus on the activities that matter the most and align with your growth strategy. This can be achieved by automating certain tasks that would typically take longer to complete. For example, WeCOMPLETE streamlines the work of estate agents and conveyancers thanks to real-time updates, a unique sales progression calendar tracking, which can be viewed by all parties, and the platform for individual and group communication. It means that parties can communicate directly with each other, and every interaction is logged in the system, providing an extra level of transparency without the need for time-consuming phone calls, emails or snail mail.
The Power of Data
Data is a powerful commodity that can make or break PropTech. Many solutions focus on the user-manipulated data, which frankly defeats the object. A solid PropTech platform will have access to multiple data connections, helping users utilise and access the wealth of data. With WeCOMPLETE we have streamlined certain information that will help progress the completion further along. For example, the property information such as title plan and title number, UPRN, and additional information, including flood risk and plot size are automatically populated within the system. At the same time, the platform provides legal teams with the tools to significantly speed up onboarding, document uploads, filing and electronic signatures, search ordering and returns, anti-money laundering checks, and much more, whilst notifying estate agents as the case progresses. Thanks to the unique flows of data, the platform caters to every stakeholder who participates in the completion process.
Customer Experience: Level Up!
Using tech is one of the most effective ways to improve customer satisfaction, and PropTech is no different. Most PropTech solutions that provide simple, user-friendly app capabilities can assist estate agencies to improve or transform the customer experience. This is especially true around property completions and conveyancing. The process is made up of so many moving parts that an end-to-solution that will help all stakeholders, especially sellers or buyers, actively participate in the process may be worth their weight in gold.
A Penny Saved is a Penny Earned…
A truly outstanding PropTech solution is designed not only to make estate agents money but to help them save, as well. After all, profit and cash flow are what helps businesses grow and thrive. At the same time, in times of uncertainty and disrupted economic cycles, an end-to-end solution that helps generate revenue and saves thousands of pounds in by enabling your team to do their job more effectively by helping them maximise their time on income generation activities is undoubtedly worth considering. WeCOMPLETE was designed with that in mind. Its unique model enables estate agents to generate revenue from conveyancing quotes, realise their selling fees faster and save by streamlining the process of property completions.
To find out how WeCOMPLETE can enhance the performance of your agency click the button below to book a demo.