Three of the biggest threats to a real estate broker are not having a plan, having financial issues and lacking prioritization and or organization. If you’re a broker and you have something like 20 agents reporting to you, keeping their transactions in order could be the first of many problems that can be eliminated by having your documents filed digitally.
A Cloud-Based Transaction Management Solution
We are living in the digital age. Content is the tidal wave threatening to crush corporations at any moment. Storing and organizing information is one of the keys to a business’ success. Odds are, you have heard of or used a cloud-based management system before. Whether it was for storing photos, information for work, or having movies and other media close at hand when you travel, you’re probably more attached to “a cloud” than you know.
More and more companies are moving towards using cloud services to manage their data, content and company files. As a broker, it would behoove you to investigate a cloud-based management system to assist you in your real estate portfolio management.
Established programs are out there that not only help to organize your agent’s transactions but also help to set guidelines they are to follow which will ultimately result in less work for you!
Working More Efficiently With A Cloud
Here are a few examples of how you can setup restrictions and guidelines to help you better manage and organize the transactions your agents submit in a cloud-based management system:
* Require tasks and documents be flagged for you to review before an agent can mark them as completed.
* Once flagged, you can review, approve, and not approve documents, as well as add comments.
As you can see reviewing tasks this way is very beneficial in that it gives you control over transactions being completed as well being able to work together with your agents on tasks remotely. Furthermore, most cloud services will store complete conversation logs of all your comments on a document as well storing the document indefinitely.
If you were to apply these applications to real estate portfolio management, you’d eliminate redundancies and help to eliminate liability risk all while keeping your portfolio securely stored. When the time comes to open up the portfolio to do some work or present your yearly trends, increases, or areas of opportunities, it’s nice to be able to do so from anywhere in the world. And if the need to talk to one of your agents about a transaction should occur, using a format with a well-established message service doesn’t hurt either.
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