A Guide How to Pick the Best Real Estate BPO Partner
Need a hand choosing the best Real Estate BPO Partner?
One of the most frequent questions people asked about realtor BPO is, how do you pick one?
For SMEs, it is important to get the best as every dollar counts in every transaction. With limited resources, entrepreneurs must be wise in making decisions.
That is why in this article we will look at strategies on how you will be able to pick the best Real Estate BPO partner in the market.
How to Pick the Best Real Estate BPO Partner
Do you agree that outside service (process or activity) providers produce products or services more efficiently and effectively? Well, whether you agree or not, this paper from University of Minnesota argues that outsourcing can give companies a competitive advantage.
A Business Process Outsourcing (BPO) company can be the difference between struggling for growth or accelerating for success.
BPO providers have a significant impact on your business. That is the reason it is critical to know what to look for.
Your business deserves the best, and while there are literally hundreds of Real Estate BPO companies out there, there are little and big details you should consider first before giving them your sweet yes.
1. Excellent Communication Skills
It takes experience and communication to get it right; you need someone who knows the ins and outs of the business and can help you navigate the potential minefield of real estate outsourcing. You also need someone that can communicate strategies and results to you.
A company led by experienced employees will have a better understanding of how your business operates and what it takes to scale and succeed.
That is one reason why companies outsource to the Philippines.
The Philippines not only has a low labor cost and a large talent pool; they are also very skilled.
English is one of the Philippines’ official languages. Filipinos speak and write English fluently, so a language barrier would not be an issue.
In comparison to their Indian counterparts, Filipinos can easily communicate with customers from the West, which allows foreign customers to understand local professionals.
Georgetown University highlights the importance of having a great communication skill. They write that in Real Estate, “Communication may be the most important soft skill of them all.”
On top of that, they also considered the following as equally important in Real Estate:
- Active Listening
- Social Cues
- Negotiation
- Patience
- Tactfulness
2. Security and technology
Data privacy and security is now more important than ever and a major concern among businesses.
Third party organizations that handle sensitive information must be aware of their legal obligations.
That is why it is imperative to partner with a service provider who is aligned with your values, systems, and processes. When discussing security and technology, initial discussions with a potential service provider should be open and transparent.
Real Estate BPOs have practices that will keep all information secured:
- Majority of outsourcing firms supplied the necessary equipment for their employees’ tasks. Their data is either stored on the desktop’s hard disk or in a secure cloud drive. Each storage space is password-protected, and only the employee and their employers have access to it.
- The desktops provided by the companies are secured by a VPN and a firewall, which protects them throughout their entire operation. Companies also provide employees with a portable broadband connection to improve workflow.
- Call centres have a single CRM system used to record customer issues, bpo appraisal history, capture information, and track issues via tickets.
- Employers also use screen monitoring software to track employees’ attendance and activities. This helps them have an overview of their performance, the total hour of their work, and the websites they have visited.
3. Transparency and visibility
Whether it’s how your team is performing or whether KPIs are being met, not knowing where your business stands means not knowing where you’re going. It’s that simple.
Companies should understand this, so you must ensure that your partner will provide you with visible reporting on how your team is performing and whether or not set goals are being met.
Benedictine University agrees that transparency is important.
In an article published on their website, they said that “Transparency is a powerful tool. It gives an honest appraisal of a situation, sharing the current state and soliciting help to postulate a future state.”
4. Low Attrition Rate
Retention Rate and Employee Attrition Rate are x factors in choosing the best outsourcing partner.
The immediate consequences of high turnover rates are severe: loss of vital information and experience, loss of morale for those who remain, and loss of conviction in the team’s competency and capacity to perform.
None of them are simple or quick to replace.
That is why it is important to look for a company with below industry standard (30%-40%) employee attrition rate.
A high attrition rate will render everything meaningless. It is imperative to keep employees happy.
What’s the use of cheap BPO companies if your agents are uncomfortable and not giving their 100% best?
Also employees that are happier are more engaged. In turn, employees that are engaged are more productive and have a lower percentage of absenteeism from work.
It is critical to have a healthy working atmosphere. Employee friendships flourish in a healthy work environment, which enhances personal well-being and will benefit your bottom line.
In essence, workplace environment and culture are key in keeping employees.
5. Low customer attrition
Every business strives for positive customer feedback because it indicates that they are doing their job well!
Knowing that a BPO is trusted by its customers can help you decide what to look for in a BPO company; those testimonials will give you an idea of how the company operates and how experienced they are.
Customer satisfaction plays an important role within your business. Not only is it the leading indicator to measure customer loyalty, identify unhappy customers, reduce churn and increase revenue; it is also a key point of differentiation that helps you to attract new customers in competitive business environments.
Even more so, here are 6 reasons why customer satisfaction is important:
- It’s a leading indicator of consumer repurchase intentions and loyalty
- it’s a point of differentiation
- It reduces customer churn
- It increases customer lifetime value
- It reduces negative word of mouth
- It’s cheaper to retain customers than acquire new ones
6. Network and connections
A company with well-known strategic connections to other successful businesses, like any other brand, says a lot about the quality of their services.
It is critical to consider the BPO company’s network and connections to ensure that they are among the best, if not the best, at what they do.
Outsourcing is probably the most obvious solution when a business is trying to grow while saving on cost.
A BPO company can help you do that – but they must be the right one for your business. You’ve invested so much of your resources in your business, and you don’t want cowboys draining these investments for benefits that can only be realised short-term. The long run is what counts.
Other Things You Should Consider
Besides these, there are still a lot of things that you should consider. Although they are not as important, they are still valuable in their own ways:
1. KPIs
BPO Philippines provides several metrics to assess a company’s growth and development. These statistics benefit small and medium-sized businesses (SMEs) the most.
Based on the information provided by their call center partner, they can make an adjustment. It is an effective method for organizing all of your business strategies.
Here are common KPIs offered by BPOs:
- Call Answer Time
- Call Hold Time
- Call Abandonment Rate
- First Call Resolution
- Query’s Duration
- Call Frequency
- Escalation Rate
Measuring the performance of the agent against the KPI is critical to the outsourcing process.
KPI can be measured by BPO Philippines based on service quality and cost. It is a barometer on the shared risk between the outsourcing firm.
2. Location
The top outsourcing destination across the globe as of this writing is the Philippines, particularly in Metro Manila and Cebu City.
Its cultural compatibility is one of the reasons why it has become the world’s elite and pioneering outsourcing destination.
The Philippines continues to be a global leader in voice and non-voices services as per the Thomson Investment Advisory Firm.
Other than that, here are common reasons why the Philippines is the best Real Estate BPO destination:
- Low-Cost Operation Expenses
- Stable and Progressing Economy
- Western Influence
- Government Support
- Proficient Workforce
Other than the Philippines, here are popular call center destination in Asia:
- Malaysia
- Vietnam
- China
- India
- Singapore
The Best Call Center Provider for SMEs
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We are an ISO-certified company with 10+ years of experience in the industry. You can guarantee that behind everything we do is attention to data security.
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