Reason Payment To Your Landlord Should Be Online

As a landlord, you most certainly are preoccupied to have your property rented at all times, in the best conditions, and receive your due rent for it. When you are a lessor, it is also essential to make sure that your tenants stick around. You can face major losses when your property remains vacant for a long period of time. Taking the aforementioned factors into consideration, the method of payment you require your tenants to follow is a deciding factor by which you can attract and retain them. Now that the whole wide world is gradually enjoying technological progress, the real estate niche should follow suit. If you are a property owner, it is about time to become technically savvy as well. A positive step towards this direction is to allow your tenants to pay their rentals online, in person, or by means of mail.

Through the years, residential property owners have been receiving rental payments in person, or through the mail. Since the Internet has transformed the entire way we communicate, many things have changed deeply. One of these changes is the fact that online transactions have become popular. Several property owners are now accepting the highly technological management tools. Some of these are, for example,property management software, as well as online rental payments. In doing so, they enjoy a succession of benefits offered by these tools.

As a proprietor, you will see a considerable impact in terms of operational efficiency, as well as bottom-line profits. When you accept rent payments online, monitoring is no longer necessary, and even if you live far from the state where your rental property is located, this payment method will be very advantageous for you. In addition, you will be able to keep record of your tenant’s payment history by means of your website, which provides you with an online rental payment management system. You don’t have to go through several mails, checks, as well as documents. This lets you save a lot of time. With a few clicks, you can retrieve the information you need in an organized manner. For instance, when you have to check those who have not paid their rent for a specific month, all you need to do is login to your account and access the information in a couple of clicks.

For companies that manage properties, online payment systems come as an advantage. When they implement an online payment system, this would reduce their administrative costs. They would have to cut down on personnel, since there is no need to process paper checks, create journal entries, fill out deposit slips or assist people who go to the bank to deposit them. These tiresome tasks will become fully automated, reduce fraud risks and lead to efficient management. Also, this lets you plan strategies for the future, while the company improves in forecasting the cash flow.

Aside from the benefits given by an online rent payment system to landlords, property management companies and apartment complex owners, it also offers considerable advantages to tenants. For them, this payment method is extremely convenient, since they can pay their rent online from wherever they are. This lets them pay on time to avoid the charges associated with late payments, if ever they forget to send the check payment on the deadline, as the amount is deducted from their bank account.

 

How To Get Young People To Get Credit

Millennials (those who are between the ages of 18 to 34 in 2015) are ditching their big banks and becoming members of credit unions. They want the convenience and technology that the big banks can offer but they also want to make sure their banks are paying attention to their needs, by offering customer-friendly service and simple, straightforward solutions that they are demanding.

Millennials know exactly what they want from their bank and everyone is chasing this potential new member. So, understanding their perceptions and needs will help credit unions compete for this sought-after audience.

Below is a closer review of some of the reasons why millennials are scrapping their banks and joining community institutions:

    • They are seen as more customer-friendly and can answers questions directly regarding financial security. They are very helpful when it comes to imparting information regarding car and home buying by offering members education services and solutions that are easy to consume and utilize.

 

    • Qualifying for a loan will be easier, because their requirements are not as rigorous. While banks tend to turn away millennials with a low credit scores, they roll up their sleeves and make it happen.

 

    • These younger members crave more high-touch and want to make sure someone is paying attention to their needs. They want to know there is a real person on the other side of the phone and get their questions answered quickly. They want it when they want it and how they want it.

 

    • Mobile banking is a necessity. Millennials manage their lives on the go so it is important that credit unions deliver a smooth and instinctive mobile experience.

 

    • Millennials are intuitive consumers and they quickly find deals and share opportunities including rates on car loans, credit builder loans and student loans. Maintaining the lowest and best terms will give the them a greater appeal over a traditional bank.

 

    • Credit Unions are superior in focusing and competing on financial health. Millennials view them as a trusted resource for financial advice and a partner that specializes in member service.

 

  • Millennials are also saying bye bye to their banks because of ATM-related reasons. There is either not enough of them, inconveniently located or high fees associated with using them.

There is a natural alliance between the values of Gen Y and the mission of credit unions. These modern consumers do not follow the financial path of their parents. They want to encounter a high-touch, high-tech brand experience by discovering the human side of banking provided by credit unions. By focusing on this age group credit unions are learning and adapting to ensure they are on the cutting edge of the banking technology.

 

What Is Wakeup Process On Financial

Agents in the financial services sector play a crucial role in sustaining the business. Financial services encompass broad sub verticals like – banking, insurance, and investment funds companies where their crucial role like building relationships and getting business volumes cannot be underestimated.

Personalized sales are the approach set by agents and brokers for decades. They carry a lot of information on products, markets, and prices. But after the IoT, big data and analytics came to the center stage, it became imperative for agents and brokers to stay relevant. The mobile customers supported by mobile workforce of businesses are posing existential threats to agents and brokers. Many may wonder – is this the end of the road for brokers and agents?

Financial services honchos may consider eliminating the role of agents attracting new prospects with reduced premium or discounts. But wait a bit more before you send the execution order as they have the firepower still. It is into this area focused study is required.

Can Agents Stay Relevant?

Now the question before us is, are agents and brokers relevant? First of all they have time tested relationship with a large number of accounts whom they assiduously nurtured. Today, the brokers themselves are mobile and know the IT tools to nurture their audience. With the help of IT apps on their mobile they go for client acquisition faster. In this process, they:

• Contact their prospects and educate them about the products.
• Provide valuable pieces of advice on most feasible product for them.
• Evaluate the performance of securities.
• Build relationship after gaining an understanding on every aspect of customer relationships.

We are coming to the important aspect. Today technology obsolescence is making the role of agents irrelevant. To some extent it is true if the mobile customers make a total shift from agents and have direct interaction with the company. But the question is how feasible is that idea. We all know in our busy schedules, giving priority be it paying premium or buying stocks may not be appealing to all with a few exceptions. The reason behind this is people are not that self motivated and agents step into this gap with their relationship nurturing skills.

In areas like spending money people are little scary as well as slow decision makers. This cannot be construed as weakness but in fact it is wisdom as sensible ones do lot of research and thinking before they take the plunge. What does this mean for the financial services sector? Financial sector services may be enthusiastic about IT tools which helps the customers to take informed decisions. But what is the exact scenario? People will do all research with the tools on mobile but many will be unlikely to take the final purchase decision because there is a need for a resource person to give relevant and contextual information on products and services. This should be followed by the ability to close the deal once the curiosity level is raised to the highest. Who can replace agents or brokers who had been doing this for decades?

So, now the readers might have understood the value of agents in clinching the deal. Getting business is not an ordinary deal. It requires a lot of effort, constant follow up on clients to arrive at a decision. Just SMS alerts won’t do the trick. Having said this, let us consider how the agents can be used creatively with technology in this era of technology disruption. We also need to consider how agents can be empowered with technology and how.

Agents Can Be on Survival Mode with IT Tools

To survive in today’s volatile markets, what is most needed is actionable information. Agents who are working overtime in building relationships and closing deals definitely require latest IT tools, to be specific BI, big data and analytics tools to take key decisions. In the case of insurance, BI tools can help the agents and brokers to derive key insights on customers and understand their inclination to offer customized products or solutions. BI dashboards will help them to manage relationships effectively. So is the case with banking and investment companies who hire third parties for business development.

Application of analytics comes in different areas like content analytics, context analytics and business analytics. In content analytics unstructured data like call center logs, sensor data, audio, video data can be analyzed to track trends, customer responses, etc. In context analytics data is analyzed to understand the context which is vital to take context based decisions. In business analytics patterns, behaviors or trends are discovered through statistical analysis. Last but not least is predictive analytics where application of techniques like statistical analysis, regression analysis, correlation analysis, cluster analysis, social media analytics etc., are applied for new product development.

Agents are catalysts in information gathering as they move with people and trigger discussions on products and services. Because of this stronger reason, one cannot conclude that agents are on their way out in the disruptive technology era. But at the same time agents should take recourse to IT for their survival as well as the survival of financial services businesses. Let time tell the rest.

 

Follow Up Leads and Prospects

To make the correct judgement, you need the essential insights, and this is what it means by “qualify”. If you are not selling the product or service to the correct lead, you will end up wasting a lot of money, time, energy and resources. So what you should do to qualify leads and prospects? How will you know whether a prospect is fit for your offer? Will the lead ultimately lead to a sales opportunity?

You should invest your money and time only after qualifying someone. Only then you should start selling the service or product to the prospect.

If you are not quite experienced you will jump at the given opportunity without properly studying the prospect. What happens here is you are trying to selling something on an assumption without the proper background check. It may or may not culminate in sales. Only mindless salespeople will do this kind of marketing and they will end up losing their energy and time chasing wrong leads.

Instead of talking all the time, try to listen to your prospect. Then you will understand whether he/she is a qualified prospect. If you listen to them your chances of selling will be much higher.

Spend time on qualified prospects, and you’ll achieve significantly more costly deals.

Even if you get a qualified lead you must put in a lot of effort to make him/her your customer. You must know all about your valuable prospect or else you will miss an opportunity to sell your product or service to them.

If you end up selling a product to a wrong customer or to people who should not have bought your product, it is not just bad for the customer but bad for you and your company.

To find a quality lead you must know how to evaluate a prospect. For instance, you must know what their drawbacks are. How have they evaluated your solution? What type of an organisation they belong to? These details are essential to personalise your pitch for your prospects.

Know their pain points and also about their organization and personality. If a salesman is not able to close a deal it shows that he did not know all the important details about his prospect and hence he did not properly qualify as lead.

Ask as many questions as possible to your customer and gather the correct information. There are certain qualifying questions which every salesman should be aware of. We list out the most important ones.

Customer profile

A prospect should match your ideal customer profile. How big is the company? What industry are they in? Where are they located?

Needs

You must know your customer’s needs to qualify the prospect. And you should know how to fulfil their requirements and requests. You should have an idea what result they are aspiring for, and how the result is going to impact their company or team.

Decision making process

You should also know how they make decisions and how many people are involved in the decision-making process. Are they impulsive buyers or do they take time to buy products?

For instance, some companies take almost a year to purchase products. But if you have a sales target to achieve in the next four months then they are not your qualified prospects.

Competition

It is said that you should keep your friends close and enemies closer. So you should know about your competitors. You must know whether the lead has worked with any of your competitors and also what are the decisive factors on which they will base their decision on.

If you are informed of these things, you will be able to easily find out whether he/she is a qualified prospect or not.