When we discuss how tech is changing industries, let’s be honest, real estate isn’t the first industry that comes to mind. As a rule, we primarily think of retail, healthcare, banking. Yet, real estate businesses, too, implement tech and outperform their competitors thanks to that. You just need to know which solutions to use.
Why It’s a Good Idea to Implement Custom Real Estate Tech
If you ask owners of real estate businesses who are successfully using specialized tech, most of them will tell you they are using custom software. That is, a business turns to a good real estate software development service and orders a solution that is designed exclusively for this business. The tasks that it solves can vary (sometimes, one solution can take care of multiple tasks):
- automation (automate repetitive tasks such as processing lease agreements or managing property listings)
- improved reporting (detailed analytics and reports with insights into market trends, customer behavior, and operational performance)
- better customer retention (personalized experience keeps clients happier).
6 Solutions That Can Really Help Businesses in Real Estate
Now, let’s say you are planning to turn to a real estate software development service and order a custom solution for your business. What kind of software will it be? Usually, the service’s consultants will help you with that but it’s wiser to be, at least, aware of the options available.
Property Management Software
Consider property management software if your task is to streamline operations and enhance tenant satisfaction. This software can list properties, communicate with tenants, process maintenance requests, collect rent, and anything in between.
Tips:
- Ask developers to design a platform that’ll allow you to manage multiple properties under one roof.
- Consider implementing a tenant portal where renters can log in to pay rent, submit maintenance requests, and communicate directly with property managers.
- Remember that this new software must seamlessly integrate with your existing tools.
Lease Management Software
If you want to finally do something with the process of creating, processing, and renewing lease agreements, this software should be super helpful. It can create lease agreements, process them, and renew.
Tips:
- Discuss it with developers if they can design software that automates the creation of lease agreements based on templates. That should be very helpful and will save you much time.
- It’s also good to have features for tracking compliance with local laws and regulations.
- Your solution must support digital signatures, too.
MLS Platforms
Multiple Listing Service (MLS) platforms are useful for real estate professionals who want to always access up-to-date market information and share property listings fast. Such platforms are, above all else, necessary for cooperation between peer professionals
Tips:
- You’d want an MLS platform with advanced search functions that’ll allow you to filter listings by location, price range, and property features.
- The platform should likewise provide real-time update (the latest market data and listings).
- Ask the developers about collaboration tools that can be integrated. It’s good to be able to share listings and communicate with other real estate professionals.
Real Estate Data Analytics
The need for data analytics isn’t unique for real estate, of course. In fact, any business turns to it to make decisions. In real estate, custom analytics tools can provide dashboards with insights into market trends, customer preferences, and the performance of your properties.
Tips:
- Tell the developers you’d love your tool to have the predictive analytics function. You’ll use it to make informed investment decisions.
- A super important point here is that the software integrates with your CRM system. Usually, if you are working in a cooperation with a good development service, you won’t have any issues here because they always keep integration in mind.
Real Estate Mobile Applications
A custom mobile app isn’t the first thing that comes to mind when you are choosing real estate software but it’s a very good idea. It’s the software that can help you to reach out to your clients faster.
Tips:
- First and foremost, make sure the developers are knowledgeable in UX/UI design.
- When discussing the functions with the developers, ask them about push notifications. Clients typically like to get information about new listings, price changes, and upcoming appointments.
- If that’s possible, it would be useful for your app to include virtual tour features.
Final Thoughts
As you see, there are quite a lot of software solutions that can be helpful to real estate businesses. The first step though is to always determine the tasks you’d love to be solved or facilitated. Based on this, you should be able to plan the optimal software design together with the development team.