Outsourcing for Real Estate
Outsourcing is the term generally used for Business Process Outsourcing (BPO) and normally means altering a job or business procedure from an internal worker to another party, either overseas or locally.
Technology improvements and cloud-based innovations have allowed a more versatile work force and an environment in which a business doesn’t have to get a worker sitting at the workplace to take on a job.
The outsourcing business is changing rapidly, fresh trends have started to emerge and what was dubbed as “affordable overseas labour”, is presently a billion-dollar business supporting many companies throughout the world. It is now an integral business strategy for both small and large business enterprises.
When outsourcing and offshore outsourcing first began, it had been limited to low-risk functions like payroll processing and data entry. Outsourcing was originally undertaken with the big telecommunications and banking firms. Afterwards, customer support operations have been outsourced on a big scale and also, we saw that the development of “Indian call centres”. This tendency brought outsourcing price advantages to the forefront, and associations began taking note. Global firms who wished to leverage the cost advantages of outsourcing began outsourcing luxury purposes such as IT managed services, health care and research agencies to reputable businesses. The calibre of the outsourcing suppliers has increased dramatically.
Outsourcing for the Real Estate Industry
The property industry is facing tough times with commission prices showing a declining tendency in both property sales and management. Lower cost, technology-empowered business models are supplying consumers with options and forcing them to question the charges they pay. This is leading to increasing quantities of property agencies wanting to enhance their operational performance and lower the prices of their business model.
There’s also a substantial gain in the numbers of real estate agencies which are outsourcing labour to reduce cost and reduce prices to frequently improve efficiencies.
The early adopters have been using offshore labour for several years and outsourcing has become one of the buzzwords in property and real estate.
Tech and cloud computing tendency
As a growing number of jobs are changed to a technology improved procedure the chance to outsource this to an offshore operator gets greater.
Cloud computing services have been the standard and server-based software systems are endeavouring to change into the cloud. It has opened the door for nimble start-ups to emerge with integration developing as the new standard. Software must incorporate via API’s to be taken to the contemporary property computer software ecosystem. This tendency is empowering a change to offshore labour to run the program.
What is inspiring property agencies to outsource?
- Cost cutting
- Enable concentration for priority business purposes
- Increase capability
- Improve service quality
- Manage company environments
- Force wider transformational change
While price continues to play a major motive in outsourcing, better concentration for core business functions, ability, service quality, cognitive and robotic process automation, cloud, and innovation are increasing in significance too.
What jobs have been outsourced?
Much like the large businesses, outsourcing for the real estate industry began with the very low hazard, repetitive, manual jobs that could be performed from anywhere using cloud-based applications. As the assurance in outsourcing grows, firms are currently proposing to change entire sections overseas. In property management and sales, the tendency is to outsource most of the work apart from face to face meetings with all the landlords and renters, and in certain instances, those functions too.
A number of the common tasks to outsource for real estate include:
- Producing CMA (Comparative Market Analysis) accounts
- Data entry
- Sales and leasing arrangements / contracts
- Selling land for development for commercial purposes
- Email advertising campaigns
- Documents and handling data
- Bookkeeping and debt gathering
- Scheduling regular inspections
- Routine inspection coverage
- Processing software
- Upgrading the company website
- Property advertising campaigns
- Social networking campaigns
- Blogging and post writing
- Monitoring inventory on market
- Database management and production
Substitute outsourcing versions and provided support
- Home-base — You supply and manage the staff. The team provide the workspace, equipment, and infrastructure.
- Project Outsourcing — The seller delivers specified outcomes dependent on the activities you supply.
- Chair Leasing — You rent a chair and you also provide and manage the staff. The seller provides the workspaces, infrastructure and equipment.
- Staff Leasing — You handle the team. The seller provides the employees, workspaces, equipment, infrastructure, management, office assistance, and human resource capabilities.
- Captive (Build-Operate-Transfer or BOT) — The seller initially supplies and manages the employees, workspaces, infrastructure, and management. As soon as your staff is secure, you assume complete ownership of the group and workplace atmosphere.
- Captive (Scratch) — You supply and manage the employees, workspaces, infrastructure, management, office service, and human resource capabilities.
Benefit of the Philippines?
There are many countries profiting from the tendency towards outsourcing such as China, India, The Philippines, Mexico, Vietnam and South Africa just to name a couple.
The Australian property sector has definitely embraced the Philippines as the primary destination for developing their overseas teams.
Aside from the connections which were developed by the leaders of the evolving sector, the Philippines provides a variety of essential benefits including:
- A Powerful Market — The Philippine market, is now the fastest growing market in Southeast Asia. The expansion is fuelled by the company process outsourcing industries, which then is nearing a growing middle class. The expansion raises demand for highly skilled employees, especially professional grade workers.
- Labour Prices Are Reduced — Labour costs from the Philippines are one of the most competitive in the entire world, most significantly in the expert level which represents 40 percent of their workforce. According to projections, it’s forecast to remain among the very cost-effective workforces in the near future. While in many states, aging populations and shrinking workforces are forcing wages greater, the Philippines is witnessing an increase in highly educated employees and a decrease in the average age of their workforce.
- Similar Time Zone — Among the biggest advantages of this outsourcing in the Philippines is that the time zone is quite like Australia which means employees don’t need to do shift work and that reduces staff turnover.