RingCentral survey showcases a critical edge in Real Estate & Construction

Both the construction and the real estate industry are facing ever-increasing pressure amidst thin margins, labor challenges, supply chain delays, and clients who expect consistently engaged communication through the buying process. According to McKinsey & Company, the industry stands to lose 15 to 20% of its incumbent value if it can’t cut costs and improve productivity.

One immerging solution comes from our partners at RingCentral who in a recent customer success survey revealed numbers that demonstrate how a cloud-communications solution has a significant impact both in operations and customer-facing elements of these industries.

51% increase in client satisfaction

From the beginning stages to the close, client communication and experience is crucial in the purchase of a new home. Not only does it play a vital role in the process as a whole, but the experience of the client will typically be the deciding factor in referrals which make up a large part of the customer acquisition in real estate.

The ability for cloud communications through a platform such as RingCentral’s ensures a direct line of communication to clients, enabling consistent availability from agent to client which is significant in this highly competitive market. For this reason and others, the survey reveals a 51% increase in client satisfaction.

30% decrease in telecommunications cost

The importance of decreasing costs to increase profitability is significant in every industry but especially that of construction and real estate. RingCentral’s platform brings significant savings for many as it provides a centrally managed administrative portal enabling IT to fully monitor and manage communication from anywhere, as well as a reduction in hardware costs due to the cloud. These savings add up to the tune of a 30% reduction in expenses on average and even up to 43% on the higher end.

25% increase in employee productivity

RingCentral’s construction and real estate customers reported an overall productivity gain of 25% on average. This included workflow improvements, reduction of unnecessary tasks, improved accuracy, and higher job satisfaction. This has a direct impact on the ability to recruit and retain top talent which can be a real challenge in this industry.

Matt Hasset, Director of SMB Integrated Marketing at RingCentral had this to say,

“Mobility and access to resources on the go are two really important factors of success, across all the industries we studied. People in real estate and construction are especially mobile, given the nature of their job. Improving their connectivity and availability is a real game-changer for productivity.”

If you’re interested in seeing how a cloud solution from RingCentral can positively impact your business and save you money, please fill out the form below and we’ll be in contact with you as soon as possible!

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