Twilio > Case Studies > FLK It Over Revolutionizes Lease Agreement Review Process for Real Estate Agents

FLK It Over Revolutionizes Lease Agreement Review Process for Real Estate Agents

Technology Category

Networks & Connectivity - 5G
Platform as a Service (PaaS) - Application Development Platforms

Applicable Industries

Buildings
Cement

Use Cases

Leasing Finance Automation

About The Customer

FLK it over is a company that aims to revolutionize the way real estate documentation is reviewed and signed. Founded by Andrew Colagiuri, a veteran in the real estate industry, the company provides an SMS-based platform that simplifies the process of reviewing and signing lease agreements for real estate agents, property managers, and tenants. Since the launch of its first SaaS platform four years ago, over 500 real estate agencies and 3,500 residential property managers in Australia have benefited from FLK it over's innovative solution. The company now supports real estate agents across New South Wales, Queensland, and Victoria, and has plans to expand its solution Australia-wide and internationally to regions such as the UK, Singapore, and Hong Kong within the first six months of 2023.

The Challenge

The advent of the digital era allowed real estate agencies to expand their operations and manage more properties than ever before. However, this expansion also led to an increased volume of customer information and a greater number of lease agreements to process, resulting in administrative backlog and internal delays. Andrew Colagiuri, CEO and Founder of FLK it over, who had been in the real estate industry for 20 years, was frustrated with these time-consuming processes, especially after experiencing fast growth at his own firm. He sought to reinvent how real estate documentation is reviewed and signed in a more efficient manner.

The Solution

FLK it over turned to Twilio to build an SMS-based communication solution that would streamline the process of reviewing and signing lease agreements. With Twilio Programmable Messaging, FLK it over created an SMS-based platform that allows real estate agents and property managers to send lease agreements to prospective and renewing tenants via SMS. The tenants receive a link to an interactive web page where they can review their rental agreement in a simple, clean, and transparent manner. Once they agree to the terms, a PDF is generated and sent via SendGrid Email to finalize remaining details. For renewing tenants, the SMS solution simplifies the response on their renewal status by asking them to press 1 to renew or press 2 to vacate before the correct process is initiated. This eliminates the need for back-and-forth email communication and phone tag, resulting in an immediate response rate.

Operational Impact

The Twilio-powered SMS solution has significantly reduced the average turnaround time on fully signed lease agreements and renewals from hours or potentially days down to two-three minutes. This has allowed agencies and management companies to scale up their businesses without having to hire additional staff. The simplified processes have freed up two to four hours a week per agent or property manager, which they can now use to work on additional properties and grow their business faster. Furthermore, because FLK it over’s platform is cloud-based, agents can do their job remotely anytime, anywhere. When the pandemic struck, forcing many businesses to switch to digital means of business, FLK it over was already providing advanced digital solutions powered by Twilio Programmable Messaging.

Quantitative Benefit