Process Mining in Real Estate

While tenants are struggling with rising housing costs and a shortage of living space, landlords and real estate companies are also facing various challenges. Rising interest rates, tighter financing conditions and an increasing density of regulation are putting the industry under pressure. Internally, real estate companies also have to cope with complicated processes. Managing tenants and owners, as well as building administration, requires the interaction of different departments, systems and partners.

Process Mining offers promising opportunities for increasing efficiency in the real estate sector. This innovative method, which is at the interface between data science and process management, makes it possible to analyze, visualize and optimize business processes using digital traces in IT systems. This offers real potential for the real estate industry. For example, Process Mining can be used to shorten processing times for rentalinquiries, and maintenance and repair processes can be handled more efficiently.

As an industry in which many workflows are handled manually, the real estate industry is particularly affected by inefficiencies. For example, unclear responsibilities, media disruptions and inefficient coordination processes lead to avoidable delays in the rental process. Various departments and contact persons are involved, meaning that information from different systems has to be compiled and communication carefully coordinated. Similar challenges arise in the sales process, where lead qualification, property presentation and contract processing are often not optimally coordinated.

Process Mining in the real estate sector provides a remedy at various levels. By evaluating different marketing channels and their success rates, the method ensures that customer acquisition and lead generation are optimized. Process Mining also ensures greater efficiency in real estate management: the systematic analysis of maintenance requests, damage reports and service processes streamlines workflows and shortens response times.

The ability to visualize process flows holistically is particularly valuable. For example, it can be used to analyze how delays in the technical inspection of a property affect the entire rental process. This holistic process analysis in the real estate market creates the basis for fact-based decisions and enables continuous improvement of business processes.