While looking for a learning management system for your organization, you might come across a lot of them. Each of the IT consultation services offers services to you, in their own way, and choosing the best from them can be a tough task.
This article will explain all about the LMS in a real estate company, about its uses, roles, trends, features, and will also explain how to create a custom learning management system for your real estate industry.
What Is Real Estate LMS?
A real estate organization is one that sells, buys, and rents property, or manages them by handling all the chores. The company that deals with properties in the market, and then it is known as a real estate organization and it also requires a platform to expand its learning and training process. This is achieved through custom LMS development.
Learning management systems in the real estate industry focuses on providing training material to the learners, and existing employees in the organization for a deeper understanding of the course and working pattern in a real estate business.
An LMS is a platform that offers remote learning content on behalf of the organizations to the learners. Whereas, a custom LMS is a software that is developed to meet all the specific eLearning needs with custom course building tools in order to create interactive eLearning content, CRM solutions and other business systems, native integrations with HRIS, custom reports, and dashboards.
An LMS in real estate also performs the same role in companies by providing training to the learners for better performance of the learners and company as well. It offers one single platform for all your knowledge about courses in real estate, sales skills, marketing, communication, and other categories.
The course content can also be accessed by the agents whenever and wherever they want so that the chances of errors and misapprehension are less from their end. By hiring IT outsourcing services a company can avail of all the benefits and have the perfect LMS for their real estate organization.
New trends Of LMS In The Real Estate Industry
Market trends are a never stopping race, there are changes and upgrades in the industry constantly to update the system and work more effectively, and those are supported by the dedicated software development team. LMS’s new trends make sure that the system is not lagging behind in the competition of providing services, and also coping up with the technology.
There are a number of trends followed by LMS every while, such as:
1. Multi-Channel Learning
To break the idea of traditional learning, it is an important and smart choice for companies to offer learning on multi-channels to increase the efficiency of the workforce.
Multi-channel learning allows not only access to any time and anywhere learning, but also to a faster application of the skills learned or upgraded. This trend gave a clear observable shift in terms of the applicability of training and learning. It will involve strategic planning that is required to start the LMS, break down the silos, and undergo the changing environment in order to keep the content updated.
2. Gamification And Badges
Among the other trends that are ruling in the professional IT services, providing digital badges and highly rewarding game-like learning experiences. Offering learning and training to the agents in the form of games and offering them different badges will motivate and aspire them to work better and effectively.
The engagement level of your learners will increase by adapting gamification learning implementation solutions as all these upgrades act as an advanced reward to the agents, which further help them to have a faster and effective learning process.
Most of the business plans include market research, and a strategic learning plan system should not be any different. This trend implies that you should gather information from your learners, such as their feedback and reactions to the content, asking about their requests for their preferences.
Increasing these kinds of interactions in the learning management system will ensure that the agents of the real estate company are well involved in the system and are not lagging behind in the training processes.
4. Updates On Training
Another important trend of the LMS is updating the content constantly and making additions to it, this will help the organization in keeping their employees updated on the content and will ensure an effective workflow into the company.
Training content requires regular updates or else there is a high risk of employees and learners lagging behind, which can further result in a loss for the company. Any LMS providing website development company will provide you with the required updates.
5. Creativity And Innovation
Molding the content of the system interactive and creative is the foremost need of any organization in order for the content to be attractive enough for the students. An innovative content should have more visual pieces and it should also be connected to the real-life.
A real estate agent should have complete knowledge of how the work is processed and also should be able to access all the content and change it to make it more attractive for the users.
All these trends are just a glimpse into the growing scope of LMS, as the current LMS users are estimated at 73.8 million, nearly 87% of active users have web-based LMS materials. This proves that the use and growth of learning management systems are not stopping in the near future. Adapting these trends can help an organization to work more efficiently and effectively.
Features Of Real Estate LMS
Features of any system are the most crucial part of its working and management, they can be considered as the essence of the software or platform. There are some key features to look at in the LMS while wanting to create your own learning management system through a enterprise software development company, such as:
1. Online Classrooms Training
Let’s say there is a company out of the states, and wishes to introduce some training modules into the system, in such a case, an online classroom is used for implementing a platform of learning and providing the required modules to the agents.
These classrooms are made with the idea of giving course learning to the learners anywhere, through a single platform.
2. Personal Assistance
In real estate custom LMS development, providing personal assistance is the most crucial feature, as the agents and other clients of the system expect to have direct contact with the attendants. This feature helps the company in having a transparent relationship with its clients and agents.
By providing personal assistance in the learning management system it gets easier for the agents to communicate with their clients and keep them in the loop of everything that is happening.
There are various organizations that provide completion certificates to the learners for the courses offered. Apart from the organizations, there are many learning management systems that have an in-built feature to create customized certificates for corporate training, developed with the support of an IT outsourcing company.
Providing certifications to the learners plays an important role in motivating them to take more training courses for their business. If your real estate company’s agents take up courses regularly, there is a high chance of your business growing faster than usual.
4. Content Flexibility
Offering fully loaded content to the learners is an important aspect of using a learning management system, it is used to provide training content to the learners and help them achieve the certified courses. That content should be flexible in nature in order to keep the users interested for a long period of time.
An LMS should provide services like customized content in the company so that new updates can be made in the course every time needed. If the course matter is flexible, it will allow the users to create their own unique content and make it flexible for themselves.
5. Personalized User Experience
In order to increase wider options of learning, a capable learning management system should provide content based on a learner’s history within the software, and for their role.
Adaptive assessments and quizzes reflect a learner’s performance throughout a course which enables the users to prioritize improvement areas. If an LMS is personalized to a user’s learning preferences and/or job function, then there are high chances that they might become more invested in the process.
6. Remote Workforce Ready
The popularity of remote work continues to grow, and along with that workforces are changing rapidly. In times like this where a pandemic has changed a lot of things, it is almost impossible for companies with a global presence to organize on-site training. Hence, an LMS must be remote or mobile-ready to ensure that learners have access to all the materials every time.
Mobile-ready training programs are especially effective for special industries, such as healthcare, real estate, academic institutions, and others like these where on-the-go training is the only effective way of getting the work done in the company. It should also provide cloud computing or AWS consulting services, as in remote working, security is a big concern.
7. Offline Learning Tracker
There are roles that require training and assessments in a real-world setting, like the ones which involve manual and technical activities, learning professionals may find it challenging to track and store the data.
To bring online learning back from offline learning, your LMS should allow developers to capture the offline assessment results, and also improve the learning process. In a real estate business, it is important to have all sorts of learning platforms, so that they can help in providing certifications and opportunities to the agents.
8. Skills And Certification Tracking
Skills and certification tracking is one of the most important features of an LMS, and is important for nearly every user. It is good to train your employees, but it will be left with no basis for performance and improvement if you are not tracking the certificates and skill development.
When the feature of tracking skills is given to the real estate company, it helps them in keeping a clear track of their agent’s performance and accordingly promotes them to the next level of responsibility.
These were some key features of a learning management system used in the real estate industry, to help it grow and prosper.
Roles Of LMS In Real Estate sector
LMS has started to become one of the preferred software that real estate companies, agents, and brokers use to keep a set profile of their customers and all their needs. A learning management system performs various functions for the company that helps it in implementing an effective and efficient working pattern.
The roles and responsibilities that an LMS plays in a real estate organization are as follows:
1. Host Learning Programs
One of the major roles that any type of LMS performs is hosting learning programs for the learners. Managers install learning modules into the learning management system and it acts as a platform for the learners to register for the courses and learn the content.
Hosting learning programs will help your organization in improving the workflow and promote an effective learning environment among the agents so that they are not lagging behind in the process of real estate functions.
2. Distribute The Content
The distribution of content among the learners in a real estate company is a real-time task, it involves constant updating of the content in order to distribute it to the agents.
If the distribution of content is not equal and consistent, it might result in a fallback of the training process in the organization. Integrating an LCMS software, managers can store, publish, schedule, host, manage, replace, audit, and delete course material which is as per the learning required to help improve the functional & operational ability of the agents in real estate.
3. Keep The Track Of Clients
Every company wants to have a system that will help them in keeping track of their clients, deal with them, and also share all the information about the work processes in the company.
When you keep a track record of your clients it helps the agents of your real estate company to have complete knowledge of what and how the work is done.
4. Safe Keeping Of The Records
Safety is the foremost requirement of any company while looking for an LMS, and it is also a major responsibility of the learning management system. Safekeeping of all the real estate documents is the ultimate goal of any LMS.
The system will help in keeping track of all the records of the company’s business, which can also be accessed by the agents of the organization. The safe and sound keeping of the records leads to organized management of the system ensuring an effective environment in the organization.
5. Manage Learners
An LMS lets you control who has access to your curriculum. There are a number of ways you can let people into your LMS. Such as:
- Allow anyone who is interested to set up an account through a self-registration process.
- Restrict access to only your employees.
- Create accounts one at a time or bulk-load learner data.
- Automatically activate (and deactivate) accounts by connecting your LMS to another system like an HRIS or ERP.
An LMS will also have a series of roles that you can use to control access to various features of the system.
Steps To Create Custom LMS For Real Estate Industry
Creating a custom LMS involves various steps, the developing team needs to have all the instructions very clearly so that the chances of errors are reduced and it does not affect the organization.
If you have set your mind on creating a custom learning management system, you will need a Step-By-Step Guide To Create A LMS Website and it is important that you examine the process of its development. The steps involved in creating an LMS are:
1. Define your Idea
At first, when you start, you should have an abstract vision or concept and your task is to clarify it, try to make it more understandable for your business partners, and the development team.
A clearly defined idea for the real estate company will be more convincing for the investors, your team, L&D, and hence this process will help in getting approval and funding from the board members, sponsors, directors, or whoever you turn to for money.
It is also highly recommended and important to select target platforms for your future elearning and LMS service. Start researching the market, analyze the potential competitors or the capacities of your company to determine whether you need just a web application or a combination of mobile and web apps.
2. Start Building Your Team
The choice of a team to explain your idea is very crucial for the success of tomorrow. You can also make your choice based on various aspects, like ratings, recommendations, average pricing, or on the basis of your communication with the potential candidates.
Some of the good indicators of reliability can be business reputation and solid experience in working with the real estate industry. Now you may want to prefer development companies that already have established themselves in the market of real estate.
Also, a good sign of a software development company can be if it has won awards or has good experience in the field with big organizations.
3. Choose The Required Features
When you are past the stage of finalizing your idea of the LMS, make a list of all the basic and essential features that your real estate company needs. You should also be able to think about how you can narrow it down to have only the most essential features in the system.
The selected features will have a direct impact on the final pricing of your learning management system. You can create an additional list of the features that you want to include in your LMS after its release.
4. Choose The Tech Stack
The development team can also propose the technology stack which will be based on the chosen functionality and target platforms for your learning management system. And along with the selected features, the technology stack will also impact the overall cost of your final product, so might want to choose it wisely, or else it can have a negative impact.
All the different operating systems require different tech stacks. That’s why it will be better to choose the most right target platform and add support for others at some point after the release.
5. Plan The Design And Structure
You should never underestimate the importance of website design, like UI/UX, it holds great importance in the process of making your final product. The process of learning is complicated enough for your agents, you do not want to make it more complicated by a bad design. As a convenient LMS will be more impactful on your agents and will help in prospering your real estate organization.
As a brand product, an LMS should include corporate colors. However, some colors and patterns can add strain to users’ eyes and make it difficult to concentrate on the screen. As a business owner, you should give attention to these factors of the software.
6. Custom LMS Development Pricing
You should always have a price estimate before even starting with the process of development. The final price of your custom LMS may sometimes vary from the initial plan that you had. But you should always have a plan for such situations.
The management of your company should keep a check on the price of the software that you are developing, and along with it, the requirements should be met.
7. Build The MVP
MVP is a functioning version of the software with a minimum amount of features. It conveys the idea of the final product that you will have in your company for the learning process of your agents. This process helps in providing an idea of your LMS so that you can use it to promote it before the investors get additional funding.
You can ask a test group to explore the features of your app and share the experience. This information will be valuable for further improvements and additions before the MVP is converted to the final product.
8. Ensure Proper Testing
To provide the best possible user experience, the development team should perform as many tests as needed to reveal the bugs and fix them. With the help of software testing services, a learning management system can be prepared to make its best impression at its release.
9. Promote The Support For Release And Pos-Release
Ensuring the highest quality is crucial for your newly-built LMS. However, its release should also be accompanied by clever promotional activities to draw attention to the software product and showcase its benefits.
Use the social networks to prepare or even tease potential users, make them count the days before the release.
In A Nutshell
As one can see that there are a number of industries that use LMS for their training program and to maintain their efficiency in the organization. There are steps to create your custom learning management system for the company and handle it the way you want.
There are a number of benefits that an organization can avail of by installing LMS, which will help your agents, learners, or employees to have certified courses at their hands, by enrolling themselves into the system.