Manually managing Real Estate inventory can be a challenge for developers, considering the large volumes that most Real Estate developers deal with on a day-to-day basis. Several factors like property location, specifications, occupancy status and more need to be documented in detail to maintain efficient inventory records.
Previously, Real Estate developers would perform these tasks without using inventory management software. This brought about significant challenges and posed risks like human error and miscommunication. Now more than ever before, Real Estate developers are adopting the use of advanced . Among other things, they allow you to use an all-inclusive platform for sales and marketing.
It also ensures that your entire team is on the same page about the status of your inventory and the operations that need completion. Improved automation, simplified lead capturing, better inventory management and more are just some of the advantages of using CRM software for your Real Estate company. Its features are boundless and can significantly contribute to your Real Estate company's operational efficiency. CRM software powered by Sell.Do offers your prospects complete access to the entire inventory so they have all the real-time information they need to make an informed decision.
Before we speak about its importance, we need to understand what exactly digital inventory management is and how it can benefit your Real Estate organization. What Is Digital Inventory Management?
Since Real Estate businesses can deal with large volumes of inventory regularly, managing it can quickly become a challenge. The solution lies in using a dedicated digital inventory management tool within your CRM.
Digital inventory management enables you to manage a large number of units, floors, buildings and even complexes remotely. Using advanced mobile applications with extensive features, you no longer need to be physically present to manage your Real Estate inventory.
CRM software like Sell.Do can empower you to perform these tasks on-the-fly with the help of their robust and trustworthy automated inventory management.It offers support like using multiple currencies, implementing different pricing ranges and working with different suppliers in the world.
How Can Inventory Analytics Benefit My Real Estate Company?
Real Estate developers move large amounts of inventory regularly while doing business with customers. To keep better track of these inventory-related transactions, an inventory management tool can be a game-changer.
Now, with the use of an analytics tool within your CRM, you can view and analyze data in real-time related to your business activity. It simplifies the process of keeping track and accounting for your inventory. Not only this, but it allows you to obtain valuable statistics about how your business is performing. This opens the doors to you being able to identify trends and take advantage of shifts in the market.
With , you can gain a bird's eye view of your Real Estate company's inventory sales. What's more, you can study detailed charts and graphs related to the performance of your team.
These reports make it easier to understand challenges, make changes and improve operational efficiency for your Real Estate company using digital inventory management in your CRM.
- Block And Book Properties
You never need to manually make entries for Real Estate properties that your customers are interested in. Now, with the use of an efficient Real Estate CRM like , you can electronically book and block properties for your customers right within the application. Since the application can be accessed on mobile devices, you can perform these tasks regardless of your location, helping to make your operations even more efficient and minimize downtime.
- Avoiding Excess Stock
In the past, it was more challenging to keep up with Real Estate inventory between different areas and customer interest groups. All too often, companies found that they were either understocking or overstocking their inventory. A simple reason for this is because there needed to be a better way to track and label inventory in Real Estate according to the needs of customers.
Now, Real Estate CRM software like Sell.Do is enabling Real Estate developers around the world to keep a better track of their properties, down to single units and their corresponding data. Being able to accurately measure market demand and allocate inventory means that the changes of understocking or overstocking can be negated.
- Eliminating The Chances Of Overselling
Overselling costs Real Estate developers dearly in terms of lost time, unhappy customers and other avoidable circumstances. However, this situation can easily be avoided by the implementation of a digital inventory management tool within your Real Estate CRM.
By keeping track of your orders and having your inventory synced at all times, it becomes nearly impossible for errors and mismatches to occur, eliminating the chances of overselling your Real Estate stock.
- Seamless Payment Schedules
Customers are more likely to feel comfortable buying if they can easily view and assess payment schedules. It also helps keep track of transactions. Since Real Estate developers do not follow a fixed pricing structure, there is a need for payment schedules to be generated that is accurate and free of errors.
like makes it easier than ever before to account for different payment schedules for individual properties and have them reach your customers through email or a medium that you choose. Overall, this can improve customer satisfaction ratings and help move inventory along the sales process much more smoothly.
- Negotiation Management
In Real Estate, negotiations are a crucial part of the sales process. With, you can easily keep track of complex negotiations and offers that you receive from potential customers.Since everything is managed within the digital inventory tool, you can easily modify or share this information with stakeholders without any delay.
- Accounting Integration
Still manually making entries against your Real Estate inventory for accounting purposes?There's a better way! Now, you can modernize your accounting processes with digital inventory management. A wide range of inventory platforms like can integrate with Real Estate accounting software to better perform entries for you without you needing to do them manually. This makes it exponentially easier to maintain financial records and perform bookkeeping tasks for your business.
- Wiser Business Decisions
Having a better hold on your inventory and being able to retrieve relevant information on your properties can dramatically improve your future business decisions. Having important data on hand when it is needed the most means that you have a clearer perspective about your customer's demand and your ability to supply. In this way, you can even build forecasts for the future by studying estimates that your inventory management tool can generate. With Sell.Do’s inventory analytics, you can leverage the power of data-driven decision making by using huge volumes of data to provide insights into trends and business forecasting
Being able to make wiser business decisions, in the long run, can drastically increase your sales and customer satisfaction over time. All these factors invariably contribute to your Real Estate company becoming more effective in servicing the needs of your customers.
- Hold Inventory
- Manage Bookings
- Find Leads Efficiently
- Developer Support
- Property Support
Without the right inventory management tools, it is easy to quickly lose track of all the transitions that take place daily. Real Estate inventory management simplifies the process of managing your fast-moving inventory and maintaining a sense of order among the chaos. These features can be extremely instrumental in eradicating errors, conflict and misunderstandings with regards to Real Estate management.
If your company has not yet made the shift towards using digital inventory management tools, there has never been a better time. Developer support, allied inventory management, negotiations and offer management are just some of the many powerful features that Real Estate CRMs like can perform for your business.