As originally posted on RISMedia.com.
Back office is the backbone of every real estate brokerage. Your accounting and commissions, transaction management, and electronic document management solutions all serve critical business functions. They help you track your dollars and cents, ensure your team gets paid, generate key metrics and reports, and ultimately inform your most important business decisions.
In the past, you probably thought you needed to run your back office a certain way. A few industry giants dominated the space and might have imposed certain (real or perceived) restrictions on how you ran your business, due to the capabilities (and limitations) of their software. But it’s 2021, and that means you have options.
We all have new hybrid working models, and there’s a newer, more flexible way to run your back office that allows you to use a wider array of tools to suit your needs and move your business forward. Let’s look at the trends driving this shift towards what we call your new back office.
The Cloud
If your clunky, outdated, and static software hasn’t already become obsolete, it soon will. Your desktop applications must go. Long gone are the days where being tied to a single machine or server will suffice. You and your team need to be able to access data no matter where you are, and the rise of mobile technology and faster network speeds mean that web-based and mobile applications are the way of the future, even for back office.
Integrations
The most useful software is integrated software. You need back office tools that can communicate with the MLS, your existing (or future) transaction management system, a variety of accounting applications, and even proprietary franchise software. You need bidirectional data syncing to ensure every instance of every application you are using is always up to date. Want to be able to use a popular provider like QuickBooks® to run your back office accounting? Now you can!
Customization
No two offices are alike, so you shouldn’t be boxed in by tools that aren’t made for real estate or that can’t adapt to the way you work. Modular, customizable tools that play well with your existing tech stack (integrations again!) with features you can tailor to the needs of your niche or the intricacies of your market will be non-negotiables going forward.
Reliability
Today’s real estate landscape is dominated by mergers and acquisitions. A competitor today could be a partner tomorrow, or your existing applications could be sold to your biggest rival. When it comes to choosing a back office provider, you need peace of mind knowing you have a reliable long-term partner who will not only help you build something great but be there for you when you need support.
Data
Data is powerful, and data-driven decisions are smart decisions. You need software that can show you exactly what information you need, when you need it, and allow you to customize how that data is presented.
The better way to run your back office
Constellation1 is your back office partner, offering the most flexible suite of world-class back office solutions The NEW Constellation1 Commissions app is the new way to run your back office. It’s the perfect choice for small or large offices that need the most customizable commissions plans on the market, a sleek and intuitive UI, foolproof transaction wizards, tailored permissions, robust reporting, and more. It has everything you need in an easy-to-use tool for admins and agents.
For more information, visit NEW Constellation1 Commissions.
