Automate Real Estate Property Management for Higher Profits

Is real estate property management one of the services you offer? If not, you’re missing out on tons of business and huge profit potential.

According to broker and property manager Brad Larsen, property management is now more profitable than ever. Because of new technology and services that allow for increased automation, the operating expenses associated with property management are at an all-time low.

During his recent Real Estate Rockstars appearance, Brad shared exactly how he raised his company’s bottom line. Hear all about it in the podcast below, or read on for a few of Brad’s specific strategies.

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Offer Unaccompanied Home Showings

Nothings eats away at a property manager’s time more than showing properties. Those endless hours cost more than just time; they cost money – often lots of it.

Brad has almost completely eliminated this problem by subscribing to a service that allows for unaccompanied home showings. Thanks to Tenant Turner, qualified renters are able to view properties without a property manager present.

Once approved for a showing, a prospective renter simply collects a key from an electronic lockbox. After they’ve viewed the rental, they simply return the key by a designated time. It’s that simple!

Outsource Real Estate Property Management Calls

Staffing phones at all hours to take calls from prospective renters is expensive, but losing leads can be even more costly. Nowadays, fortunately, property managers don’t have to pay on-site employees to handle rental leads; there’s a better, cheaper option.

Brad pays a call center in Mexico to handle his inbound rental leads, and he’s saving a significant amount of money as a result. Also, since he was able to find a high-quality call center, his lead conversion rates are still as high as they were before making the switch.

Utilize Digital Documents to Automate the Leasing Process

Renters don’t have to sign lease agreements in person anymore. Why waste their time or your own when there’s an option that’s more convenient for both parties? Companies like DocuSign make it easier to automate the leasing process by eliminating the need for physical documents.

Switching over to electronic signatures was a great move for Brad. Not only did it eliminate the need for renters to come to his office for simple signatures, it decreased the time required for his team to process documents. Essentially, he was able to reduce costs while increasing customer satisfaction levels, making it a win-win situation for him and his clients.

Learn More About Real Estate Property Management

Real estate property management has changed a lot in the last decade. Now is an excellent time to look into making property management one of the real estate services you provide.

To learn more about how Brad maximizes his property management profits, listen to the complete podcast with Brad Larsen.

Want to pick up a free copy of the custom spreadsheet used by Brad to track the property management metrics that matter most? Head over to our Agent Success Toolbox. In addition to Brad’s item, it contains real estate eBooks, prospecting scripts, marketing plans, and more.