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How to Boost Brokerage Growth by Reducing Manual Data Entry

Real Estate Back Office

Is manual data entry holding back your brokerage?

Manual data entry is a productivity killer. Even simple tasks can suck up hours of your team’s time. Because your back office team and agents have to spend so much time simply entering data, they can’t focus on growing your brokerage by closing more deals or managing more transactions.

To boost brokerage growth, your agents and team need to take back their time. With the right back office software, you can reduce manual data entry and increase brokerage growth. We’ll cover everything you need to know to achieve this growth. Let’s take a look at the first way reducing manual data entry encourages growth – freeing up time.

Save time

The first way reducing manual data entry can boost brokerage growth is by saving time.

Manual data entry can make tasks like transaction management, offer management, and commission calculation take hours (or days) longer. Between finding the right data, putting it in the right place, and transferring it to other systems, your team has little time to focus on brokerage growth.

Back office software can reduce manual data entry by automating data entry and transfer. And, by enabling a seamless data flow. With minimal data entry to do, your team can free up hours every week. Your team can now spend more time managing additional transactions, closing more deals, and helping your brokerage earn more.

By saving time, reducing manual data entry frees up your team to get more done – increasing brokerage revenue and growth.

Reduce mistakes

Limiting mistakes is another way reducing manual data entry can increase brokerage growth.

Manual data entry is prone to human error. When your team has to enter and transfer data for hours every day, it’s easy to miss a number or enter data into the wrong place. Once your team realizes they’ve entered the wrong data, they then have to spend even more time finding and fixing their mistake – making it hard to get more done to grow your brokerage.

The right back office software greatly reduces the need for manual data entry through automation. Compared to manual data entry, automated data entry is much less error-prone. Fewer mistakes mean your team can handle a higher transaction volume – enabling your brokerage to grow faster.

Reducing errors by limiting manual data entry empowers your team to spend less time on tedious tasks and more time helping your brokerage grow.

Increase compliance

Along with improving accuracy, reducing manual data entry can help your brokerage grow by increasing compliance.

Ensuring compliance can be time-consuming for your team. They have to track down all required documents, store them properly, manually fill out the right forms, and more. However, not being compliant is even more of a headache for your brokerage – and can make it difficult to grow.

With the right back office software, your team can automate compliance by automatically storing all files and entering compliance data. This not only ensures you’re compliant but also reduces your team’s workload. Having less to do for every transaction means your team can handle more transactions – boosting revenue and growth.

By reducing manual data entry and other processes, you can improve compliance with less work for your team – freeing up your team to spend more time on brokerage growth activities.

Manage more transactions

In addition to increasing compliance, reducing manual data entry can also boost brokerage growth by increasing the number of transactions your team can manage.

Transaction management is heavy on manual data entry and transfer. Your team has to spend hours (or days) per every transaction on manual data entry. This makes transactions take longer. And, it limits how many transactions your team can manage. To grow, your team needs to manage more transactions, but manual data entry can make this difficult.

Back office software makes it easy for your team to manage more transactions by reducing manual data entry through automation. Your team can use the software to enter and transfer data in seconds (instead of hours). That way, your team can manage transactions faster – enabling them to handle a larger transaction volume.

By managing more transactions with the same number of staff, your team can keep expenses the same while increasing revenue – helping your brokerage grow more.

Improve agent productivity

Lastly, reducing manual data entry can also improve agent productivity to boost brokerage growth.

Like your back office team, your agents are slowed down by manual data entry. From creating eSignature documents, to filling out forms, to managing offers and communication, and more, your agents have to spend a chunk of their limited time on manual data entry. Instead of working with more clients and closing more deals, your agents have to do tedious manual tasks – limiting brokerage growth.

The right back office software can streamline your agents’ workflow by cutting down on manual tasks and data entry. With this software, your agents can create eSignature documents, fill out forms, store communication data, compare offers, and more in seconds. By reducing your agents’ manual workload, this software empowers your agents to close more deals.

Back office software can reduce manual data entry and increase agent productivity – allowing your agents to get more done to grow your brokerage.

Wrapping it up

Transaction management, commission calculation, offer management, accounting, agent management, and more all require a lot of data entry. As such, your agents and back office team can spend hundreds of hours a year on manual data entry. Having to devote so much time to manual data entry means your agents and team don’t have time to focus on brokerage growth tasks.

The right back office software, however, can reduce manual data entry – freeing up your team to focus on what matters. Reducing manual data entry can help boost brokerage growth by saving time, reducing errors, increasing compliance, empowering your team to manage more transactions, and improving agent productivity.

If you’re looking for back office software to make manual data entry a thing of the past, Brokermint is the way to go. Brokermint’s back office software has powerful automation that can cut down on manual data entry. From entering transaction data, to calculating commissions, to creating eSignature documents, to transferring data between tech tools, and more, Brokermint can reduce data entry throughout your entire back office.

Along with reducing manual data entry, Brokermint has five back office modules – transaction management, commission automation, accounting, agent management, and reporting/analytics. With these five modules, you’ll have everything you need to streamline and modernize your back office.

Book your Brokermint demo today to see how reducing manual data entry can boost your brokerage growth.