Real estate businesses are the most competitive and fastest growing in terms of sales and revenue. However, the industry is posed with numerous compliance risks and is volatile to changing economic conditions as well. Given this scenario, a successful real estate MLM business was looking at maximizing its profitability correcting a few fundamental flows and streamlining their overall operations.
The first thing to do was to identify what went wrong and where with the current stream of business.
First things first, the catalyst that keeps the business going in an MLM framework are its distributors or, in the direct selling scenario, the agents. Empowering the agents rightly from onboarding through training and keeping them engaged with the right amount of upskilling and reskilling matters the most. Declining productivity from the agent side could cost the business in terms of conversions, sales and revenue. Also, when agent motivation is not fueled from time to time, it could adversely effect the credibility of the brand as a whole.
To enhance a real estate MLM business, the marketing system has to be updated from time to time without which agent productivity cannot be boosted. There also has to be sufficient communication among the brand and its agents and the brand and its customers and agents and the customers. For which, an agent support system was integrated to optimize agent performances and productivity. A novel engagement architecture integrating self-paced learning modules and gamification was introduced to deliver the utmost satisfaction and improved performance of the agents.
Integrating a meticulous sales dashboard helped business identify the key sales metrics and to monitor key sales KPIs such as number of properties sold, days on market, generated revenue, conversion rates, commission generated, client acquisiton cost etc. With this dashboard, businesses could also track the sales performances of agents and track those who are active and inactive; with which, it is easy to identify the gaps if any and find areas for improvement.
Advanced client relationship management (CRM) for improved customer relationships that can streamline client appointments, contract expirations, registrations, and property showings.
Lead management systems could help retrieve quality leads. Based on the priority of clients, agents could be assigned to clients based on their skills and client priority. Advanced task and calendar management with which scheduling and managing clients could be done easily and efficiently. Agent geneolgy for comprehensive network management, track active agents, to view individual sales coversions, commission earned and the basic profile details of the agents.
In the same way, a rank advancing system, marketing modules that are up to date and and capable of improving client management and increasing conversions, and an advanced and most modern client support system, etc could help improve agent productivity creating new possibilities for success and profitability.
These alterations and implementation to the real estate MLM business could help improve agent performances, agent satisfaction, commission payout accuracy, client satisfaction rate, sales conversion rate, and market responsiveness, and thus impact the overall organizational profitability.
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OverviewPractically, most construction companies would want their projects to be completed and delivered on time without any delay.
It is the duty of a project manager to take proactive steps in order to avoid any hold ups.But how can the manager get a hold of what is happening without getting an in-depth knowledge on the progress of work?With the help of the project management tool, one can monitor the physical progress, manpower, labor productivity engineering, design status and direct cost.
It assists the project team to monitor the physical progress through Daily Progress Reports and financial progress through Cost Register Reports.The tool identifies and assesses critical areas of each project and based on its inbuilt alert system, slippages are monitored and hierarchically escalated to various stakeholders for effective decision making and taking necessary actions.User can download the jobs that are related to them and update their progress both online and offline.With the help of Machine Learning, attendance can be marked by the facial recognition of employees.The facial feature matching technology helps the application user to match the faces of the employee with the database and provide exact match.While marking attendance, with the help of facial recognition using Machine Learning, the system will be able identify and recognize any new faces and prompts the user to create a profile for them and add it to the existing labor list.With the assistance of AI, the system will be able to identify the faces of individual laborers and match it with the database, even if it has to run a facial recognition on a group picture.ApprovalsSuperiors can approve a work progress entry in a particular location by just tapping on the pin location and the list of jobs that needs approval will be listed.Tech StackXamarin Forms: Xamarin.Forms is an open source cross-platform framework from Microsoft, that extends the .NET developer platform with tools and libraries for building mobile apps.Zetetic-SQLITE: SQLCipher is a security extension to the SQLite database platform that facilitates the creation of encrypted databases.OpenCV: OpenCV (Open Source Computer Vision) is a library of programming function mainly aimed at real-time computer vision.
It is a library that is mainly used to do all the operation related to Image processing and Video analysis, as in the case of facial recognition and detection.Cosine Similarity: Cosine similarity is a Similarity Function that is often used in Information Retrieval.
It measures the angle between two vectors and in this case, used for facial feature matching.TensorFlow: It is a framework developed and written in Python, C++ and Cuda.
TensorFlow provides multiple API’s in Python, C++, Java etc.
CAclubindia Case StudyKnowledge is Power and its power increases manifold if it is shared and distributed.
Ltd shared this belief from within and hence ventured on creating platforms for sharing of knowledge amongst professionals.
Thus was launched CAclubindia.com, an interactive platform for Finance Professionals and Taxpayers in the spring of September 1999.
Initially, it was a site meant for knowledge sharing among CAs but later with its gaining popularity, it spread its wings amongst the whole finance professionals community.Today CAclubindia provides its 2 million-plus members with a gamut of services like A platform for interaction with persons of their own fraternity.
Updates on various issues in the Finance world (mostly relevant to CA’s, CS’s, ICWA’s and MBA’s) Most recent advancement/reviews/discussions in current Finance related issues.
The facility to maintain their profile and communities and be in touch with their peers by just logging on to the site We are glad to have the who’s who of the finance world on board with us guiding us in our future endeavors.THE SITUATIONMany feel that this is where the larger problem with chartered accountancy as a the professional course lies.
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