During these dire times, digitalization’s adaptation pace has increased many folds as the world understood the importance of a digital ecosystem. Almost all industries are employing technology and automation solutions in all their essential business operations. Technology has penetrated nearly every industry and its business operations from IoT, AI, mobile, and web applications for the effective groundwork to Robotic Process Automation, VR, AR, and other such technologies for better customer handling and operational excellence.
But if we were to point out where technological innovation is still in its infancy, agriculture and real estate would be amongst the top industries on that list. The Real Estate and construction industries are intertwined. Although many hi-tech machinery equipment introduced for effective construction, there are not many technology solutions in the market to attain operational excellence. The gap has been well identified, and construction companies and real-estate broking agencies have started investing in Mobile apps in achieving a competitive edge with efficient operations.
If you are planning to invest in Real-estate Mobile technology, now is the right time to invest in it and make a brand presence before the market is too crowded with competition. When we talk about real-estate mobile app solutions, there are many possibilities. The technology can automate, facilitate, and revolutionize almost all the operational aspects of real estate. To help you understand the scope and how your mobile app can revolutionize the Real-estate industry, we have covered the aspects and functions of the construction and real estate industry that can be digitized along with the benefits of employing mobile app solutions.
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Check out these operational aspects of the real estate industry that can be digitized to attain operational excellence and attract new customers.
1. Investors and Stakeholders Management
Let’s start from the beginning. The first thing you can do with a mobile solution is to create a management and communication solution for stakeholders and investors. From selling units and proposing new schemes to investors to communicating with them about their sell and buy statements, you can do it all, and that too in real-time. Apart from that, you can also communicate with vendors, buyers, contractors, and other such stakeholders about the schedule, work process, and vital information.
2. Customer Seller Marketplace Solutions
This is one of the most common web or mobile solutions that you could find in the real estate industry. Whether you wish to connect construction companies with vendors, brokers, or contractors for B2B business or you want to create a marketplace for property buyers and sellers, marketplace solutions are one of the most profitable and adopted open market mobile solutions in the real estate industry.
3. Inventory Management
When we talk about the construction of a site, there are many materials involved. All these materials contribute majorly toward the site’s cost, and thus, they must be managed and used responsibly to ensure optimum return on investment. With an enterprise solution personalized for your business process, you can easily manage the inventory of a construction site. The same platform can also be used to place orders with vendors and contact construction professionals.
4. Safety and Compliance Management
In Australia and other developed countries, enterprises and corporate building owners must get regular compliance checks done to ensure the building’s safety. This whole process is generally done manually and can be completely digitized with a mobile solution. Right from assigning the compliance task to a private contractor to uploading and managing the compliance records of a particular site, everything can be managed effectively with a mobile solution without the proximity of human errors. Also, these apps ensure clarity of tasks and help establish accountability at the time of disputes.
5. RPA Facilitators
Robotic Process Automation, commonly known as RPA solutions, is used to automate any industry’s mundane tasks. Similarly, many tasks require a lot of paperwork, Purchase Orders, approval forms, attendance, inventory management sheets, and other such tasks that can be automated with mobile solutions. Automation of these tasks will help you reduce administrative costs, provide your employees and workers time to perform more important tasks, and increase overall productivity.
6. Material Estimation and Management
As said earlier, the materials and inventory contribute majorly to any property and construction site’s cost. That also means that buying them would require a lot of liquidity, and if the estimations are not done properly, there can either be a dead stock that needs to be sold at a certain loss or a shortage that would halt the operations, and that would result in higher fixed costs. To ascertain that you have better estimations that are on point, you can get a mobile solution or a web solution that will help you create better material estimations with the help of predictive analytics. You can also use the same system to manage the inventory and send buying requests if the stock depletes below a certain point so that there are no delays or unnecessary halts in the construction process.
7 Benefits of Mobile Apps in the Real Estate Industry:
When you employ these mobile or web solutions for your construction business or real estate management work, you can reap the following benefits apart from an increased bottom line!
1. Increase in Productivity
With mobile solutions determining proper accountability, task assignment, and inventory and data management, human resources are spared from mundane tasks, and there are also negligible chances of human errors. Thus, with the help of mobile solutions, you can increase your construction professionals’ and workers’ productivity.
2. Operational Excellence
From documentation to accounting to logistics management to inventory management, every operational aspect of a real estate business can be digitized with real estate mobile solutions. Thus, with increased productivity, transparency, and real-time and dynamic reporting, any organization can increase their efficiency, and with complete digital transformation, they can attain operational excellence.
3. Dynamic Reports
Whether you need a report for the material used or material estimation, you can have access to all the important data right at your fingertips with the help of mobile solutions. And the same applies when you require a report of required workers or workers’ attendance, or you need presentations or a profitability chart to communicate with your stakeholders and investors. With mobile solutions that can give complete authority and access to raw data, entrepreneurs and decision-makers can easily identify improvement areas and make strategies for the same.
4. Informed Decision Making
With mobile systems, establishing clear and transparent communications, providing proper predictions, and empowering with dynamic reports, it is easy for decision-makers to make strategies and plans based on valuable insights and reach their goals with realistic plans. With mobile solutions working on your corner, enterprises can also identify problems that they didn’t even know existed before employing real estate mobile applications.
5. Realistic Data Analytics
With the least possible human interference and negligible chances of human errors, decision-makers can access credible and authentic data, which can then be converted into dynamic and realistic reports. Whether you wish to identify the fault in the chain of command or get insights about which department has the least possible productivity or vice versa, you can do it all without any possibility of errors or mistakes with mobile solutions and automated data analytics systems.
6. Better Data Management
One of the biggest benefits of digitalization is better data management no matter what industry you belong to. Not only can you have perpetual data that can be secured and backed up for times of crisis, but your decision-makers can also get access to data anytime and anywhere from the mobile applications. Apart from that, you can also restrict access to authorized personnel only and ensure that only the right people have access to confidential information.
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7. Transparent and Clear Communication Channel
With digital platforms, you can automatically assign tasks to the concerned individuals and create a clear communication thread right from the application. Apart from that, you can also track all the changes made to individuals in a document. This can not only create a clear communication channel but can also establish a complete and authentic hierarchy.
Apart from these benefits, you can also establish a competitive edge in the market with increased productivity, the least possible administrative cost, and increased profitability. When made personalized and in alignment with the business culture and business operations, Mobile Applications can make major contributions to any business and transform any challenge into an opportunity. All you need to do is identify the challenges you face and the goals you wish to achieve with technology. Hire the right technology partner with relevant domain experience in providing exemplary real estate mobile app development services and let the experts do the rest.