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Business Premise The real estate industry continues to evolve as it enters the 21st Century. There is a tremendous amount of uncertainty from an operations perspective due mostly to the impact of the Internet, increasingly higher client expectations and competitive pressures. Therefore, real estate professionals are increasingly being required to produce more in a shorter period of time, and with fewer resources. This is a real world scenario that is accelerating with the trend towards globalization. RE BackOffice believes that increasing operating efficiency and productivity will be the key to survival for small, medium and large real estate firms. The Problem
In addition, most estate firms are understaffed with one salesperson for every 10 producers. In most cases this single person is asked to support the 10 member team with several different skills which are beyond their capabilities. Typically a support staff person is skilled in only one area, maybe two at best. What should take a skilled support person 15-minutes to accomplish, could take an un-skilled person 2 hours or more - and usually with very marginal results. A complicating factor in all of this is the ownership structure of traditional, closely held real estate firms. After commission splits and pay-outs, profit margins can be unbelievably narrow (6 to 7% in an average year) and operating budgets for future months are typically set at very thin levels. Managing costs in this industry is paramount. Further, most owners / partners are not managers – they are top producers responsible for bringing in revenue – and lots of it. Therefore, most real estate firms fail to provide adequate support staff because in addition to the cost, it simply takes too much time to recruit, hire, train and manage people. It is therefore no secret to anyone engaged in the business that issues with back office support need to be addressed and out-sourcing is the most realistic option. A solution needs to be found which is not only cost effective, but also can deliver support services at a high level of quality and do so within a short period of time. In addition, the services offered need to be comprehensive. The Solution In order to succeed, the company must deliver support services faster and cheaper than any other source, and do so at a quality which is equal to or higher than a traditional firm is accustomed to. The company will further need to manage and deliver these services through a Web-based collaboration and project management system. Further, customers will be able to order services on-demand, or commit to a more integrated structure which provides for a pre-set service level as well as discounts on services and more, in exchange for a minimum monthly commitment. To accomplish the above, RE BackOffice leverages the inherent operating efficiencies found in off-shoring and leveraging the Internet. All corporate functions, sales, marketing and client services are based in the U.S. (Pittsburgh, PA) with most back office functions based in Navi Mumbai (Bombay), India. RE BackOffice has appropriately staffed the operation with depth at each position to provide redundancy and scalability. In addition, the company is working towards ISO 9002 Certification. Click below to learn more about RE BackOffice: About Us Global Sourcing - Strategic procurement concept with an international focus. A cross-border search is conducted for suitable suppliers that meet specific quality, time and price requirements. We think you will find our Global approach to real estate a perfect fit for your needs. |