Today, the real estate sector is trying to harness technology and is leapfrogging to make it an integral part of the business structure. With the use of technology, real-time inventory management has become possible and convenient. Also, managing and monitoring inventory movement in real-time has become vital for project success. It provides valuable insights for future research and development activities, particularly in the real estate industry.
What does Inventory Management imply in the real estate sector?
Inventory Management is a method that enables realtors to manage multiple projects, properties, buildings, floors, and units from any location using a centralised platform. It offers a solution to using data and inventory analytics for better property management by combining insights from multiple operations. By automating the process using real estate inventory management software , businesses can organise and sort bulk inventory in real-time. It ensures that real estate inventory gets acquired according to the buyer's profile, requirements, and preferences. Realtors can manage a significant number of units, floors, buildings, and even complexes remotely with real-time digital Inventory Management. By utilising inventory management software features offered, they no longer need to be physically there to monitor the real estate inventory.
In this industry, businesses have to deal with massive volumes of inventory regularly. real estate developers often make the mistake of deploying a generic CRM that offers basic inventory management features. Most of such CRMs are inefficient and inaccurate in delivering in-depth insights and parameter-specific reports. Therefore, realtors need to explore solutions that offer end-to-end inventory management along with key features of inventory management system- real-time negotiation management, offer management, and in-depth reporting.
Furthermore, some of the additional features they should look to include-
Seamless payment scheduling-
This feature allows you to schedule different payments for different properties and send them to clients via email or other communication channels. It boosts overall client satisfaction and enables smoother inventory movement across the sales cycle.
Effective tracking of inventory-
Realtors must explore solutions to track and label real estate inventory better, in accordance with the customer requirements. It is possible to avoid understocking or overstocking by precisely measuring market demand and allocating inventory.
Reduced overselling chances-
Overselling hurts the overall profitability of the real estate business in a big way. It costs a lot to the company in terms of lost time, dissatisfied customers, and other unaverted situations. An inventory management software platform integrated with the real estate CRM , on the other hand, can simply prevent this issue.
It becomes practically impossible for errors and mismatches to occur if you keep track of your orders and keep your inventory synced at all times, eliminating the possibility of overselling the real estate inventory.
Accounting process automation-
With real-time inventory management, realtors can automate their accounting operations. Various inventory management systems can link with real estate accounting software to better perform entries without manual assistance. It makes keeping financial records and performing bookkeeping responsibilities for the company a tad simpler.
Here's how Sell.Do enables better inventory management
Sell.Do is India's only integrated real estate CRM software that lets you stay on top of your real estate inventory by providing complete visibility over existing and upcoming inventory. It helps realtors keep things clear and simplistic with their clients by providing all inventory details at the push of a mouse. Have a look at Sell.Do's excellent features that make real-time access to the real estate inventory easier for customers-
Complete inventory access from projects to units-
It delivers your prospects total access to all the inventory starting from projects to towers to apartments - ensuring the availability of necessary information needed to make an informed decision, all of which gets updated in real-time. Clients may book a property with confidence, knowing that the best options are displayed based on their needs. Thus, it enhances the overall customer experience.
Easier real estate expense management-
With this CRM, you can manage and customise cost sheets from project to per-unit level, make agreement changes with support along with compliances with GST & Other real estate Taxation Laws.
Furthermore, Sell.Do is designed to work with several payment solutions and schedules simultaneously, all of which can be pre-approved and customised. Choosing schemes and payment schedules is just a matter of click, speeding up the sales process.
Negotiation and Offer Management-
This CRM enables the sales team to negotiate better and make instant offers with pre-approved schemes by helping them build internal approval logic to offer discounts up to a certain amount governed by the sales hierarchy. Moreover, it helps keep track of the negotiations and approvals process as they pass through the hierarchy, ultimately to the sales head.
In-depth real estate inventory analytics-
The CRM provides visibility to real-time availability, movement and velocity updates & insights of project-wise, tower-wise, and unit-wise inventory. To keep you up-to-date with sales patterns and sales velocity, Sell.Do can analyse sales based on the project, configuration, and 30+ attributes to gain industry insights that will help you forecast sales, future research and development, prepare marketing strategies and promote your business by making informed decisions.
As can be gauged, Sell.Do's features help you stay on top of your inventory while also enhancing other vital processes. Now that's what we mean when we say you need to #ThinkBeyondCRM.