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Income verification startup makes common ground for property managers and tenants

(REAL ESTATE MARKETING) Income verification startup, The Closing Docs, gives property managers and tenants objective communication tools during economic crisis.

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Calculator sitting on top of 20 US dollars ready for income verification.

For property management companies who want to better understand the capacity of their tenants to pay rent during the pandemic, The Closing Docs is a startup hoping to help.

The Closing Docs is an income verification company using automated income verification with three simple steps: Collect, Confirm, and Share. Currently 3 years in, the company supports income verification to lender offering vehicle loans and more than 700,000 landlord-managed units. This system is intended to significantly compress vacancy periods and underwriting cycles, resulting in applicants being approved in minutes rather than days or weeks.

The Closing Docs was co-founded by Mark Fiebig, a serial entrepreneur and investment property manager, and Stephen Arifin, a former engineer at Microsoft. They say that what sets them apart is that they have remained laser focused on one very specific, difficult problem in a giant market. The co-founders described when inspiration hit, “The ah-ha moment came when realizing potential customers kept telling us the same thing: They were waiting days for applicants to submit required information. A good market is more important than a good product. When you have both, you’ve struck gold.”

Fiebig said, “Because we offer instant access to up-to-the-minute income history, we are not only supporting applicant approval decisions and existing tenant renewal considerations, we are also giving property managers and tenants a tool to objectively communicate about current income status. Our data provided to both parties supports these negotiations in constructive ways.” The company claims that in some cases, using The Closing Docs decreases processing time (~30%) for rental applications and increases funding rates (~15%) for loans.

This works by the software connecting to the bank accounts of the applicants and analyzing their deposit history. It then organizes that data into an income report. Income screenings can be a standalone service or be integrated into an online rental application. Income reports provide a net income summary of an applicant, summarizing key metrics such as Annual Net Income and Monthly Net Income.

The Closing Docs pricing starts at $10.00 as a one-time payment, per user. There is a free version trial and they support workflows where either the applicant or the decision maker can pay the $10 report fee.

Yasmin Diallo Turk is a long-time Austinite, non-profit professional in the field of sexual and domestic violence, and graduate of both Huston-Tillotson University and the LBJ School of Public Affairs at the University of Texas. When not writing for AG she should be writing her dissertation but is probably just watching Netflix with her husband and 3 kids or running volunteer projects for HOPE for Senegal.

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Real Estate Marketing

No-reply emails: the modern-day horror story (don’t use them!)

(MARKETING) No-reply emails may be easy to set up and distribute for customer service, but it may actually be creating a problem with a simple fix.

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emails ugh

Let me tell you a modern-day horror story.

You finally decide to purchase the item that’s been sitting in your cart all week, but when you receive your confirmation email you realize there’s a mistake on the order. Maybe you ordered the wrong size item, maybe your old address is listed as the shipping location, or maybe you just have buyer’s remorse. Either way, you’ve got to contact customer service.

Your next mission is to find contact information or a support line where you can get the issue resolved. You scroll to the bottom of the email and look around for a place to contact the company, but all you find is some copyright junk and an unsubscribe option. Tempting, but it won’t solve your problem. Your last hope is to reply to the confirmation email, so you hit that trusty reply arrow and…nothing. It’s a no-reply email. Cue the high-pitched screams.

Customers should not have to sort through your website and emails with a microscope to find contact information or a customer service line. With high customer expectations and fierce ecommerce competition, business owners can’t afford to use no-reply emails anymore.

Intended or not, no-reply emails send your customer the message that you really don’t want to hear from them. In an age when you can DM major airlines on Twitter and expect a response, this is just not going to fly anymore.

Fixing this issue doesn’t need to be a huge burden on your company. A simple solution is to create a persona for your email marketing or customer service emails, it could be member of your team or even a company mascot. Rather than using noreply@company.com you can use john@company.com and make that email a place where your email list can respond to questions and communicate concerns. Remember, the whole point of email marketing is to create a conversation with your customers.

Another great strategy for avoiding a million customer service emails where you don’t want them? Include customer service contact info in your emails. Place a thoughtful message near the bottom of your template letting people know where they can go if they’re having an issue with the product or service. This simple change will save you, your customers, and your team so much time in the long-run.

Your goal as a business owner is to build a trusting relationship between you and your customers, so leave the no reply emails behind. They’re annoying and they might even get you marked as spam.

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Real Estate Marketing

Why you should quit using ‘no-reply’ emails immediately

(REAL ESTATE MARKETING) No-reply emails may serve a company well, but the customers can become frustrated with the loss of a quick and easy way to get help.

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no-reply email face

Let me tell you a modern-day horror story.

You finally decide to purchase the item that’s been sitting in your cart all week, but when you receive your confirmation email you realize there’s a mistake on the order. Maybe you ordered the wrong size item, maybe your old address is listed as the shipping location, or maybe you just have buyer’s remorse. Either way, you’ve got to contact customer service.

Your next mission is to find contact information or a support line where you can get the issue resolved. You scroll to the bottom of the email and look around for a place to contact the company, but all you find is some copyright junk and an unsubscribe option. Tempting, but it won’t solve your problem. Your last hope is to reply to the confirmation email, so you hit that trusty reply arrow and…nothing. It’s a no-reply email. Cue the high-pitched screams.

Customers should not have to sort through your website and emails with a microscope to find contact information or a customer service line. With high customer expectations and fierce ecommerce competition, business owners can’t afford to use no-reply emails anymore.

Intended or not, no-reply emails send your customer the message that you really don’t want to hear from them. In an age when you can DM major airlines on Twitter and expect a response, this is just not going to fly anymore.

Fixing this issue doesn’t need to be a huge burden on your company. A simple solution is to create a persona for your email marketing or customer service emails, it could be member of your team or even a company mascot. Rather than using noreply@company.com you can use john@company.com and make that email a place where your email list can respond to questions and communicate concerns. Remember, the whole point of email marketing is to create a conversation with your customers.

Another great strategy for avoiding a million customer service emails where you don’t want them? Include customer service contact info in your emails. Place a thoughtful message near the bottom of your template letting people know where they can go if they’re having an issue with the product or service. This simple change will save you, your customers, and your team so much time in the long-run.

Your goal as a real estate practitioner is to build a trusting relationship between you and your customers, so leave the no reply emails behind. They’re annoying and they might even get you marked as spam.

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Real Estate Marketing

This AI tool turns your powerpoint into a narrated presentation

(MARKETING) Narakeet is a new software presentation tool that uses AI to simplify adding narration, subtitles, and more in your presentations.

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Narakeet, an AI presentation making tool

Good narration helps give presentations that extra oomph. It takes plain text and gives it life. It turns a dry presentation slide into an enjoyable one. But when it comes to narrating something, I know I’m not the narrator most people would be looking for. I speak too softly and laugh too much. I’ve had to record and re-record myself more times than I can count. This isn’t much fun, and it eats up a lot of your time. So, if you’re like me, there might be a solution for you.

Formerly named Video Puppet, Narakeet is an online service that helps people easily make narrated videos without all the headaches. Founded by Gojko Adzic, this time-saving software tool uses artificial intelligence to create life-like narration from speaker notes in a presentation. Currently, the tool supports PowerPoint, Google Slides, Keynote, and OpenOffice files.

To create your presentation, you simply upload your PowerPoint or other presentation file to Narakeet. Presentation settings can be customized by video size, volume, music, subtitles, voice, and language. Right now, the platform supports 20 languages, but more languages will be added in the future.

From your file, the tool will create life-like narration using the “latest neural text-to-speech systems.” It will synchronize pictures with sound and resize the images and video clips to fit the format you selected.

If you opted for subtitles, they will automatically be generated for you; say goodbye to hours of transcribing! And, at least for me, I won’t have to worry about people suffering through my terrible narration.

“Narakeet takes care of all the boring and time-consuming tasks of video editing, and lets authors focus on creating good content,” Gojko said.

According to their video, anyone can “edit videos as easily as editing text.” If you made a mistake or want to tweak anything, all you have to do is change the script. By clicking the “Improve” button, you can upload the updated file. Then, Narakeet will take care of the rest.

For some, an AI-generated voice might not be your cup of tea. As a developing software, it can still sound a little too parrot-like. Or maybe your beautiful and pleasant voice needs no alteration. If you fit either of those two, there is an alternative!

The tool lets you replace the narration with your own audio. Depending on your presentation, Narakeet “will automatically speed up or slow down video clips to make sure that each scene is perfectly aligned with your voice.”

For trainers, educators, and marketers, this tool allows you to create videos without having to use traditional editing tools. For teachers, especially, this is a great tool to create virtual lessons. According to Narakeet, they “will create the video so you can publish and impress.”

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