There are plenty of reasons to work and communicate through email: It makes working remotely possible, it is easy to use, and always available and accessible. Email is the number one communication tool in business.
Email can be a clear and explicit communication channel if the author writes a short message with crystal clear points. Long management narratives are best delivered in another fashion.
Email for fostering Business relationships
In the property business, the role of email is no different. Actually, the whole scene would not work without email. The real estate industry fosters business relationships and there are a variety of events and meetings that are based on in-person contact. Yet, the common phrase that will be used during the interaction by a broker, property asset manager or property manager is: “I’ll send it to you by email…”. It’s ideal when you don’t have specific data at hand, and following up by email is a good way to foster connections.
Sound perfect but, this will lead to email overload. The more your business expands, the more your inbox starts to fill up and information becomes lost in the crowd. So is there another way to avoid a full inbox and the struggle of filtering those and sorting them into folders?
1. Pick up the phone and give a call
Emails tend to leave room for misinterpretation. If the message is not brief and to the point, respondents can feel confused and the email correspondence might end up having multiple replies back and forth.
Time is wasted and actions and decisions are not made.
For the majority of users, email is universally available and accessible from everywhere. Also, email is an awesome way to handle communication over time zones. However, it is not the most optimal tool for taking things forward.
2. Use industry-specific cloud apps
Email overload occurs in organizations across industries. Unifying information and communication technology and using the same technologies throughout the organization has been the “enterprise IT strategy” and it works.
It is easy to manage if everybody follows the process. However, it does not solve the challenge of good communication.
A Property Asset Manager’s role is to improve the utilization and productivity of the assets. So, should their working time be spent emailing clients or with a Property Asset Management solution?
Email is not a sales tool or a ticketing system
The Commercial Real Estate (CRE) industry is on the verge of digitalization. For Property Asset Managers to have planned actions, relevant data, and direct communication, it requires a tool other than email.
Utilizing property asset data and having your notes and comments in the correct context will make every Property Asset Manager’s life easier. Having your notes in the right place and with the right data enables better response when you get the call from your tenants.
No more; “I’ll send it to you by email ” replies, but the real possibility to have the discussion right here and right now. And it is not only you who is up-to-date but also your teammates.
3. Get proper document management
Email has become such an integral part of work that people are over-utilizing it. It is just too easy to use. We write notes, we do meeting minutes, and store our documents all in email.
Whether you are at the office or on the road, you should have access to all your data and document databases at all times. This is one of the reasons why people over-utilize email.
Modern document management solutions (e.g. M-files) are designed to enable smooth communication across an organization. These tools provide powerful search filters to find the data that you are seeking and with numerous possibilities to create a strong, modern working environment.
Whether your data is in the cloud or on the servers that you run in-house, document management makes your life easier. Especially, when the documents are managed with a cloud-based solution.
It creates tremendous productivity benefits and ensures that your teammates have access to the same data as you.
Moving towards productivity and better customer service
Email is a good tool to structure a message. It is a universal tool that makes communication easy. However, it does not listen or create a trust relationship with your tenants or stakeholders. It is a plain and cold communication channel. To get a commitment from your clients, you need to find the sales angle and grab the phone. You will not win any deals by just sending emails or be on top of the data that you should master.
Email is not a sales tool or a ticketing system. Giving a call and booking a meeting has tremendous value. You can improve your business and sales by listening to your tenants and understanding their business better. On the other hand, only a few Property Asset Management companies can be truly local. Good tenant relationships can also work as a channel to the local market intelligence.
Email can be a good communication tool for sending material, but it is not a document management system. The value of good documentation will be none if you don’t know your way around the documents and especially if you don’t find the right document. Anyone who’s had to work in property asset management, managing large commercial real estate or lease portfolios can agree that the majority of the data flows through email – with both colleagues and external stakeholders.
Assetti is an application that makes property asset management related content management easy by keeping property asset-related communication and data in one place. Assetti collects property data, financial information, lease information, and contacts to make asset management as easy as possible.