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PRM in Real Estate: Benefits of Business Process Optimization

PRM in Real Estate: Benefits of Business Process Optimization

Real estate covers a wide range of activities, from buying, selling and leasing real estate to building, managing and developing infrastructure. The complexity of interaction between different market participants is one of the key challenges in the sector. In this article, we will look at the role of PRM systems in improving cooperation between real estate market participants.

The real estate industry includes agencies, developers, investors, financial institutions, legal advisors, buyers and tenants. PRM (Partner Relationship Management) systems are used to optimize business processes and cooperation in this area. Here's a closer look at the key features and benefits of implementing this solution.

PRM functions in the real estate industry 

Partner database management

This function includes storing and organizing information about partners. For example, a real estate developer can use the PRM system to store data on real estate agents, objects, and transaction history.

Monitoring of partnerships

PRM allows you to measure the effectiveness of cooperation with partners to improve processes. For example, real estate agents can track sales, commissions and customer satisfaction for each developer they work with.

Coordination of marketing activities

PRM involves organizing campaigns, promoting real estate objects and joint events to attract the attention of clients. For example, a developer and a real estate agency can work together to plan exhibitions or hold open days to showcase new properties.

Maintaining communication with partners

PRM system ensures efficient information exchange through various communication channels. This allows real estate agencies to provide agents with access to an online platform with up-to-date information about new properties, promotional materials and training resources.

Benefits of using PRM

Higher efficiency of cooperation

Using PRM allows you to improve cooperation with partners with convenient tools for communication, data exchange and project collaboration. Centralized platforms make it possible to quickly receive information about new facilities, send inquiries and communicate with customers.

Automation of interaction with partners

PRM helps automate routine tasks such as order processing, managing consultation requests, accounting for transactions with partners, etc. Developers can use PRM to automatically monitor construction status, notify partners of completion or report on projects.

Increased number of transactions

With PRM, you have the ability to monitor partnership activities in real time. This allows you to respond promptly to market changes and quickly adjust various aspects of cooperation. Transparency in dealing with partners helps to build long-term relationships, simplifies the process of concluding deals and increases the level of trust between the parties.

Successful PRM implementation: Est8app

Est8app is a cross-platform application for commercial real estate brokers. Based on our fdForge system, we have implemented an algorithm for generating longlists, a recording module for viewing, a property comparison functionality and a web interface. This solution allowed us to simplify and systematize the work of brokers by automating processes.

Optimization of business processes in real estate includes relationship management, planning, analytics and monitoring. The use of PRM systems increases the efficiency of cooperation, automates processes, increases the number of transactions and simplifies communication.

Looking to optimize your cooperation with partners? We can bring your ideas to life –  from implementing a PRM system to developing a mobile application for your business. Leave your contacts in the form – our manager will contact you and offer the best solution.

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