Outsourcing is the go-to when industries want to scale up and improve flexibility. Also focus on core competency, and save costs. BPO real estate is no stranger to that need and reaps the benefits of outsourcing in the last few years.
For the Broker Price Opinion real estate companies, these needs are even highlighted. As their client lists are financial institutions. Such as banks, loss mitigation and mortgage companies.
Real estate brokers perform BPO which includes property inspection. They do this on behalf of the financial institutions. This is to provide estimated value based on the property’s characteristics.
This value is in comparison with property value in the same area. As well as against similar properties nearby.
While BPO mortgage is for foreclosures or short sales. Processes involved in BPO property valuation are the following:
On the other hand, BPO appraisal is a more complex process. As it is a highly regulated, unbiased estimate of the property and requires a license appraiser to do so. This is often required for the following:
There are various non-core and tedious tasks that contribute to these processes. Which real estate BPO companies can help streamline the processes with.
Property documentation requires detail-oriented ability. Plus faster encoding of such information into cloud-based data management tools.
Also encoders for real estate listings understand the importance of accurate information. As error could affect a property’s value.
BPO companies have valuable clientele such as banks and mortgage companies. Thus handles and manages multiple listings in various areas.
Your outsourced property management assistant acts like your in-house team. Depending on your requirements, this outsourced staff may perform the following tasks:
BPO is crucial to ensure a property’s valuation is at par with the latest market valuation and trends. Thus a market research team specializing in real estate is something indispensable.
These specialists can come up with comprehensive market reports and analysis. They can handle the market research compilation in support of your in-house team. Information they can draw up valuable and accurate market insights from.
This is to ensure you can provide the proper and accurate valuation to your clients.
You can outsource a staff to manage your property database. This is to ensure every change that may occur with the properties or assets are up-to-date in real time.
In turn, you can pull up this information and can properly relay it to your clients whenever they need to.
Also your in-house team doesn’t have to deal with paper works and filing cabinets. As they can access it whenever they need to.
BPO real estate often requires extensive trust accounts. Fortunately, this position does not always have to be in-shore. Your outsourced account assistant can cooperate with your in-house account managers. This is to ensure quality and accuracy.
In doing so, you only get talents with real estate accounting knowledge and experience. Tasks they can perform:
This outsourced staff organizes photographs of properties for placing on advertising listings online. As well as sending emails and following up to potential buyers. They can also do tasks such as:
This involves assistance to the BPO real estate upper management. Which may include internal and external administrative tasks. These are the following:
They can act as a point of contact between principals and business stakeholders. Tasks may include pre-screening of business calls and other communications. Also scheduling, organizing meetings or property visitations and other administrative tasks. Other duties may include:
BPO real estate handles many properties and keeping track is quite a challenge. This staff has the ability to present properties to prospective buyers in a persuasive yet professional manner.
Also they can assist property owners to look for suitable tenants to keep their property intact. They can also evaluate the tenant’s requirements and financial capabilities. This is to ensure both are getting the best of the lease agreement.
Furthermore, they can also handle advertising and marketing of properties in various channels.
Targeted marketing which telemarketing uses is beneficial for BPO real estate. This can help your sales team zoom in on prospect clients compatible with your property listings.
Your telemarketing officer can warm up leads and entice them with your property offering. Then your sales people can further hammer their interests down with customized proposals. Also the CRM tools this telemarketing staff can give you insights which market segment your properties are more in-demand. Which your realtors can set their sight into for more closed deals.
Real estate companies may be different in a lot of ways but when it comes to outsourcing real estate roles from offshore BPO companies, there are prevalent ways to do so. Here are the key steps you can follow in order to effectively do so.
1. Inform your in-house team or existing employees about the plan to outsource and identify key areas where you need additional help to streamline the overall process of concern.
2. Choose and engage with the right outsourcing provider
3. Create job descriptions for each role you intend to outsource from the third party BPO provide so they can perform skill test when interviewing potential candidates
4. Choose which candidates are suitable for the role and cooperate with your BPO company provider with the onboarding process and training
5. IT and facilities or infrastructure are no longer your concern as your BPO partner takes care of it
6. Your newly established offshore team can integrate with your current processes may develop an ongoing performance management process with your BPO provider.
What business owners fail to understand is that outsourcing, when done right, contributes a lot to the business’ overall efficiency without breaking the bank. That is the reason why the BPO industry is a booming industry and continues to strive even amidst the pandemic.
In line with that, here are the signs you need to start working with a BPO company.
It is an established fact that the real estate industry is a competitive and cutthroat business. The challenge is always to stay ahead for real estate companies against competitors. Now if your business is struggling against competition, this is where a reliable BPO company can help.
As they can help you improve proficiency and your overall business and employee’s capabilities maximized. This way, you can position your business to be competitive despite the changing business landscape.
Business processes are composed of tasks that may have a direct impact on your profit and ROI or not. However, if insignificant tasks take up too much of your employee’s time to accomplish it is a disadvantage for your business. As it does not only exhaust your employee’s time, it also takes up their skills and capabilities to accomplish far valuable tasks for your business.
An outsourced team can handle with efficiency all of your needed back-end tasks which gives your in-house employees the advantage to focus on tasks that matter.
The focus of real estate business revolves around securing deals and connections creation. However, this does not remove smaller and tedious tasks from the equation in order to succeed. Now if such functions are neglected, it could affect your overall business operations and efficiency.
A reliable BPO company provides practical and economical solutions so you can get these tedious tasks done effectively without sacrificing the quality of the job accomplished.
Outsourcing enables your BPO real estate firm to scale up or down depending on the season and requirements. You can lease a staff for specific roles you deem fit or build your offshore team.
This move benefits your in-house employees as they can maximize their performance and time in closing deals. Go after interested buyers and draw up marketing plans to ensure an updated listing and on top of buyer’s choices.
Outsourcing is the perfect hybrid of human intellect and technologies. Factors your real estate BPO firm can maximize with. Through them, you can hire staff adept at management tools for streamlined processes.
This also guarantees a faster turnaround time. As you can hire extra help with tedious processes depending on your project.
Outsourcing companies does not have to be in full control of your tasks. You can assign a contact person and in-house QA team to ensure quality. Also as you free your employees of non-core tasks, they can dedicate more time in developing your business.
Outsourcing has been proven to let your firm save up to 70% in costs. This is in relation with the overhead spending. Such as recruitment, office space and equipment. Also salaries, benefits, supervision, and human resources.
We are the only SME-focused among real estate BPO companies in the country. We deliver solutions and talents your BPO real estate firm may need. We have real estate specialists who have in-depth knowledge of your industry and its discipline.
We can assure you only get the best performance you can think of. All the while deliverables at high quality. Not to mention, at a flexible pricing rate perfect for your business.
Magellan Solutions is ISO-certified, GDPR, and PCI DSS compliant. As we take pride in protecting our client information to its last detail. Your information is safe with us and you can count on it, all the time.
Contact us today to get your free 60-minute business consultation. Our business development team can help you create the service packages custom-fit for your BPO real estate firm. Fill up the form below!
Contact us today for more information.
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