expressed opinion entrepreneur Contributors are their own.
Due to the coronavirus pandemic and remote working conditions, any business looking to adapt to new challenges will have to embrace new technologies. This has led to the need to train employees and develop remote work policies that have never been used before.
Of course, this transition will not be easy for any company. In real estate, for example, companies are expected to rapidly adopt new tools and maintain their online presence. But these same companies face many hurdles on their way to becoming fully remote-ready businesses.
Related: Real estate lags behind in tech. Here’s why and how to fix it.
1. Slow adaptation period
This is a common challenge for different companies trying to innovate quickly. Real estate companies have been slow to adapt to new technologies. However, technology has won out as solutions have become easier to adopt. As a result, commercial real estate companies are able to introduce new technologies into their processes and continue to innovate. Despite the rapid development of technology, real estate companies must learn to adapt quickly and not be afraid to spend some extra money on it.
2. Implement the technology and understand how to use it
You can invest in the most innovative and powerful software, but it only makes a difference when your team uses it for everyday use. As a leader, you need to invest time and resources to ensure your company understands the software and uses it for all necessary purposes.
Another issue with technology adoption is identifying software and systems that are compatible with everyone’s devices and work styles. Some employees may become accustomed to their previous technology package, and switching to a completely different technology package can be distracting and even affect productivity. Video tutorials are a common requirement for such cases.
Additionally, there are tech solutions, such as allowing home buyers to conduct their own inspections without a real estate agent. These technologies save home buyers from paying someone for a drive. For smaller companies and transactions, such applications can be bad for business. Their employees should focus on creating a personal style.
For larger deals, the outcome is usually positive because it reduces the time it takes for both parties to come to an agreement. Keeping the balance of using technology with the client at the right time helps to close the deal.
Related: Shifting from physical to digital: Technologies changing the real estate ecosystem
3. Work with clients who are accustomed to paper-based workflows
Real estate companies deal with a large number of different documents. An “old-school” client might ask you to print out all the necessary documents and then drive them across town to get their signatures and complete the transaction.
While some of your clients find this much easier, these old-fashioned ways of closing deals can end up costing your company too much money and time. Introducing new possibilities to clients should be a common practice among real estate companies. You can simply call your customers or send them letters and video tutorials explaining all the steps they must follow to successfully perform the necessary actions from their perspective.
4. Lack of face-to-face communication
One of the biggest drawbacks is losing personal connection with people while surfing the web. But the introduction of technology does not necessarily mean giving up personal relationships.
Establishing the ideal process not only means that the interaction established with the team is comfortable, but also that new team members can quickly understand different interaction scenarios. Any major business achievement is due to the interaction and cooperation of several people. Real-time communication allows you to achieve mutual understanding and understand employee wishes faster. When working from home, each participant in the process knows enough about their task, but they may not know the context in which this task was created. It is this lack of context of tasks, of company life, that is the main problem with distributed teams.
A day-to-day meeting, where almost everything can be discussed, is a great solution. When everyone understands who is doing what, there is a sense of engagement that is necessary for team building and success. Short reports on each team member’s individual achievements help build this cohesion.
5. Coordinate with technical team
Real estate professionals rely on their technical teams when implementing new solutions. IT should be involved from the beginning of the process to ensure the company chooses the right tools that meet its requirements and integrate with the existing technology stack.
Working with the IT department will ensure a fast and high-quality implementation, along with the necessary software and tools.
Related: 5 myths about the technology the real estate industry must bust
6. Motivate and stimulate the growth of remote employees.
For new team members who are just beginning to familiarize themselves with new processes and have been on the job for less than six months, expectations don’t always match reality. The lack of motivation and inability to grow can even show up in small things, such as working remotely with more senior team members or using new communication tools. The list of questions is this:
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Lack of new experiences: A person is tired and wants to grow by taking on new and more complex tasks.
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Small note: In remote teams, employees are smart and have good ideas, but are not active enough or may not be as visible, which ultimately erodes motivation.
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Lack of communication or communication problems: For some, high-quality communication within the team is important, even remotely. If a team is too small or set up in a way that doesn’t suit one person, for example, expecting very specific internal etiquette, this can lead to one person “checking out”.
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Status does not match skill: As a developer’s skills develop, their current salary and scope of responsibility may no longer be satisfactory. The problem is complicated by the fact that such assessments do not always correspond to immediate reality.
The only way out is the initiative of the manager, team leader or other supervisor. You need to talk to team members, understand their aspirations and take on new career challenges, improve internal processes and assess each employee’s contribution in a timely manner to inspire their growth.
Going to remote areas requires a lot of patience, an openness to new experiences, and a readiness to take on challenges. After all, you get more than just a remote team. You get a complete remote system that saves you time, money and hassle while helping you grow your business and bring new opportunities to your employees and customers.
