Real Estate
Key Real Estate Areas Where IT Solutions can be Employed by Realtors
As per the NAR report, the global real estate software
market is expected to grow at a rapid pace - around 8% CAGR over the next two
years. The primary reason behind market growth includes the increased demand
for tech solutions among real-estate professionals to cater to the diverse
needs and preferences of consumers. Majority of the people today are no longer
interested in checking out newspaper ads to find or sell a property as they
want to explore homes virtually before buying them online through the assistance
of their real estate agent.
Savvy real estate business owners today understand that
partnering IT consulting
and software development companies is important today to get best-in-class real-estate
software solutions. Real estate software solutions help realtors improve
communication and reduce friction in their business by automating routine
tasks. Managing the entire deal cycle - right from initial request through
matching listings to negotiations and closing can be easily done via real
estate software solutions by realtors.
The 2019 real estate report by the National Association of
REALTORS® (NAR) also confirms that 44% of buyers prefer searching properties
online before buying them. Also, 93% of the customers used websites as a
primary information source for property buying whereas 73% of buyers have found
their new home via a property search app in 2019.
Role to Technology is Getting Bigger in Real Estate Space
- IT technologies like Artificial Intelligence, Cloud computing,
etc. are offering new, faster and better ways for realtors to connect with
potential customers, respond to their requests, and generate more leads.
- By building a real estate website or app, realtors are ensuring buyers can easily search new homes, put the property on sale or
rent, communicate with brokers and get the assistance anytime, anywhere with
few easy clicks.
- Real estate management software or services are also helping
property owners and realtors to better control and promote real estate assets
online.
The trends clearly show that realtors are interested
in adopting technology for different real estate functions. However, 48% of
real estate companies in the NAR survey also said keeping up with technology is
one of the major challenges for them. Many small and medium scale real-estate
business owners said they don't know the exact real estate areas where IT
solutions can benefit them most in terms of increasing ROI and business
profits.
This is why the article lists out the key real estate
functions where you can easily deploy IT software solutions to grow your
business profits. Partnering a reliable real estate software solution provider
for your real estate business can also be a great idea to automate and
streamline your real-estate tasks or activities:
Real Estate Areas where IT Solutions can Make a True Difference to Your
Business:
Real Estate Property Management
Managing real-estate tasks can be tedious tasks for real
estate property managers, owners, brokers, etc. real estate property
managers and brokers perform a variety of tasks like property maintenance,
advertise rental properties, qualify tenants, rent collection, budget
improvements and property record maintenance, etc.
You, as a real estate broker or manager, can perform all
such tasks with ease via a quality real-estate management software like
Buildium, Appfolio, etc. When choosing a real-estate management system or
software, you should always check out some of these powerful features:
- Rent payment processing
- Accounting and budgeting
- Property tracking
- Tenant management
- Accounting and budgeting
- Document management
In a real-estate & housing management software, also check for the customization, cloud-compatibility, and MLS integration functionality. Presence of all such features in the software tool makes the real-estate management task convenient for you.
Read Also: Key Areas in Logistics and Shipping Where you Need a reliable IT Solution/Service Provider
MLS Listing
Multiple listing services (MLS) in real estate are used by
real estate brokers or realtors to share property information with other
brokers to cooperate in sale for exchange of monetary benefits if they
introduce new property buyers. Through MLS directory or database, thousands of
realtors in the US and Canada share property information on the portal and
compensate other brokers who help them introduce new buyers.
An MLS software or tool can be pretty handy for you
to cooperate with other brokers who are also working with customers to find or
sell their properties. You can request a custom MLS tool or software from an
expert IT solution provider, offering MLS development services. Such an MLS
solution will help you perform an advanced search, check local listings, contact
brokers and enter property details, etc. - an all-in-one tool to simplify your
MLS tasks.
When choosing a custom MLS software, look out for the following
features:
- Client Portal Feature
- Calculation And Authorization Features
- Edit / Add Listing Feature
- Contacts Manager Portal
- Buyer Scrutiny Feature
- Responsive Design
- Email Prospecting
- Market Trend Features
- Responsive Design
- Eye Catching UI/UX
Customer Relationship Management
Since clients are the most important members in any property
deal, maintaining a strong relationship with customers is vital for real estate
agents. Customer relationship management tasks can also become time-consuming
and cumbersome for property dealers due to engagement in multiple other deals.
Hence, real-estate CRM software can be extremely beneficial for real-estate
businesses as it automates and streamlines the tasks related to customer
relationship building and marketing.
A real-estate CRM tool helps agents manage client
relationships effectively. It can also work as a useful marketing and
communication tool for property agents. From capturing real-estate leads,
marketing campaign management to staying top of real estate trends - a CRM
software covers it all.
Important points to consider when choosing a real-estate CRM
software:
- It should be easy to set up and install
- It should have customizability and scalability
features
- Purchase software from an experienced and professional
real-estate CRM vendor
- It should also be easy to use
- It should help you in building lead lists, automating
marketing tasks and lead generation
Enterprise Resource Planning
As a real estate agent, if you want to build your business
quickly and stay on the top of your industry trends, then an ERP software solution can work best for you. It helps you streamline and automate the
misaligned and important tasks of your real-estate business. Some of the major
challenges faced by real-estate businesses include lead generation, maintaining
good customer relationships, tracking customer & market data, accounting
and much more.
Using a powerful ERP software or system, you can tackle all
such challenges with ease. ERP solution also bolsters visibility and efficiency
for your real estate business.
While choosing an ERP software for real-estate business, you should check
out the following features:
- Inventory management system
- Customer portal
- Sales and transaction module
- Booking management system
- Agent management program
- Property bank system
- Visitor control system
- Human resource management system
IDX/MLS Integration
IDX or Internet Data Exchange is a software standard that is
employed by real estate brokers or realtors to display and update property
listings on their website, directly from MLS (multiple listing services). IDX
enables real-estate businesses to showcase a wide range of properties with
updated details, which means you can get more leads for your business.
You, as a real estate agent, can request for IDX integration
services from top real-estate software solution providers like A3logics. Using
IDX integration services, you can create an indexable page for every property
listing available on your site, giving your site more authority and visibility
over search engines.
You can contact real-estate software solution providers directly for:
- IDX integration services
- IDX/MLS website integration
- IDX design solutions
HOA Management
HOA management tasks like monthly/annual fee collection from
the community, setting or enforcing community rules/guidelines, protecting
property values, self-governance, etc. can be tedious for Homeowners’
Associations.
Relying on a powerful HOA management software can help the
association in managing board members, dues and documents of hundreds of single
or multi-family property homes. To streamline and automate HOA management
tasks, you, as a real estate property business, can use various software
like:
HOA Management Software
- Cloud-Based HOA Management Software
- Condominium Association Software
- HOA Property Management Software
- Custom HOA Management Systems
- HOA Database Software Services
Property Valuation
Determining the economic value of a real estate investment
property is very crucial for owners, brokers or realtors. Proper valuation of
property helps in the exact determination of taxes or insurance one has to pay.
It also helps in determining how much profit one will make whether through
rental income, property appreciation, or both.
Instead of spending money on hiring a professional certified
appraiser, you can utilize real estate valuation and analysis software. Using
such software, you can easily obtain:
- Market insights
- Investment analysis details
- Collateral appraisal
- Monthly cash flow details
Streamline Your Real Estate Business through Reliable IT Software
Solutions
To help brokers and companies in the real-estate domain, we
at A3logics provide custom, interactive and bespoke Real Estate IT Solutions
that help our clients grow, maintain excellent customer relationships, generate
leads, and increase profits.
We also hold deep expertise in developing, implementing and
installing custom real estate software solutions as per our client needs
and expectations. Combining our technical expertise and in-depth knowledge
of the industry, we deliver enterprise-grade real-estate IT software solutions
based on cloud computing, Artificial Intelligence, IoT, mobile and
wearable technology.
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