How a 100 person brokerage operates 3x more efficiently and generates $450K more per year with oneapp...

Customer: Platinum Properties; Chief Operating Officer & Salespeople
Industry: Multifamily Rentals, New Development Leasing & Open Listings

Introduction

Platinum Properties is a leading New York City real estate brokerage. With a team of experienced agents and a commitment to exceptional service to Owners and Renters, the firm represents over 5,000 exclusive rental listings and has over 100 Agents located in 3 offices.

oneapp, a cutting-edge real estate technology platform, recognized the opportunity to partner with Platinum Properties to enhance leasing operations and reimagine their technology stack.

By leveraging oneapp's innovative technology and data-driven workspace, Platinum Properties aimed to streamline their deal operations, improve efficiency, and deliver even greater value to their many landlord clients.

The strategic collaboration allowed Platinum Properties to stay at the forefront of the evolving real estate landscape and maintain their position as a market leader.

Platinum Properties needed to position itself for scale

Platinum's leadership team recognized that its leasing process and the vendors they previously relied on were beginning to hinder its ability to compete more effectively, scale their team, and generate more revenue.

Like most Brokerages, the company relied on either manual, paper-based systems or legacy software that were slow, inefficient, and prone to errors. This resulted in delays, frustrated clients, and missed opportunities in a fast-paced market.

Recognizing the need to evolve, they sought a technology partner that could provide a comprehensive solution to streamline their deal operations and enhance the client experience.

Operational circumstances which needed to be addressed included:

1. Outdated Technology: Technology from the early 2000s lacked the capabilities and features of modern solutions. This results in slower processing times, limited data analysis, and an inability to integrate with newer platforms.

2. Inefficient Workflows: Manual processes, often cumbersome and time-consuming, leading to delays, errors, and frustration among Agents, Managers and Renters. This hindered productivity and negatively impacted the customer experience.

3. Limited Data Accessibility: Disjointed systems like Property Base, On-Site.com, Quickbooks and their Website made it difficult to access and share data across departments, hindering collaboration and informed decision-making.

4. Compliance & Security Risks: Like every modern business, they were concerned about cyberattacks and potential data breaches, putting sensitive client information at risk.
"Overall, relying on a disjointed manual process with outdated technology hindered Platinum Properties' ability to operate efficiently, deliver exceptional service, and stay competitive in the fast-paced real estate market."

ONEAPP delivered efficiency, scalability and ROI

ONEAPP addressed these costly deficiencies using a workspace with advanced functionality which was simply not available just a few years ago, drastically reducing the time and complexity of managing transactions for the Platinum Properties team.

Modern & Simple: Great technology accelerated the pace of transactions while eliminating the risks posed by application fraud. By intelligently automating their flow Platinum delivered faster turnaround times and increased satisfaction for both agents, managers and their clients.

Consumer permissioned Data: By obtaining explicit permission from consumers, they accessed renter's financial and background data instantly through secure APIs, instead of collecting actual PDF's via Email, which is how all fraud permeates the leasing process. All while ensuring compliance with privacy regulations and ultimately building trust with their renters.

Deal Automation: Automating the verification of tenant information, like biometric identity, real time income, and verified financial history, eliminated the manual process the client replied on to gather and then verify these crucial details.

Accounting & Treasury Operations: oneapp's financial rails seamlessly integrated the customers online rental experience. Collecting, documenting, attributing and distributing fees at 10X the efficiency of their prior model.

Compliance with FCRA & State Disclosures: Platinum benefited from a comprehensive legal document template library and e-Sign solution which seamlessly integrated into their leasing flow, and preserved a document trail for every Prospect, Lead and Deal.
"Our Team processes thousands of rental applications per year, oneapp has made it incredibly seamless, efficient and most importantly profitable for our company to manage that volume of deals without compromise."
Founder & CEO, Platinum Properties
Our network of international and domestic investors, developers and landlords has positioned Platinum Properties since 2005 as the smart choice for luxury real estate transactions in New York City Real Estate sometimes they even make history.

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