The majority of real estate software benefits real estate professionals in their day-to-day duties and responsibilities.
However, the other kinds of real estate software in the market fulfill other specific needs, such as compliance with changing lease accounting regulations, homeowner association management, or real estate portfolio management.
Real estate software facilitates and automates key job functions of real estate professionals for two results:
- Improved customer relationships
- Optimized business performance
Regardless of real estate software type—lease administration software, after all, is quite a different beast than real estate virtual tour software or community association management software—software exists to improve and optimize real estate business operations.
Benefits of Real Estate Software
Here are a few other ways real estate software can improve your business:
Real estate businesses of any size are made up of employees. Those employees, in turn, need to be managed. Additionally, when a real estate business deploys a tool like brokerage management software, they reduce the exorbitant amount of time spent on necessary but mundane administrative tasks to instead focus on key business priorities. Real estate software can help create effective organizational structures, generate performance reports on real estate agents, and automate rote tasks like scheduling meetings and following up with potential clients.
Real estate software increases office efficiency, reduces costs, and synchronizes actions and work throughout the entire business. A tool like real estate activities management software, for example, can equip real estate businesses with the ability to automate administrative duties, centralize all client and asset data and duties, and integrate with other real estate solutions. By doing this, productivity is enhanced, paperwork is eliminated if not reduced, and everyone within the real estate business can efficiently keep tabs on significant action items without becoming overwhelmed. Additionally, real estate software reduces human error from compromising the effectiveness of a real estate company.
The first thing you probably think of when you hear real estate CRM software is contact management. Indeed, real estate software deftly manages and keeps up-to-date client contact information. It’s also tailored to the real estate industry, easily integrating with other real estate platforms. With real estate software, your business can simplify the process of nurturing existing and generating new clients. Real estate software helps foster better client relationships, client communications, and overall customer service.
We’ve mentioned it a few times above, but no real estate solution is a be-all, end-all software. The real estate platforms that can easily integrate with, for example, multiple listing services or real estate marketing software, extend the benefits and usefulness of those platforms. Additionally, easy integration results in data consolidation, which is incredibly helpful for smaller real estate agencies that want to scale client size or property variety.
Despite the four benefits listed above, you may be hesitant about jumping onto a brand-new software or disrupting the benefits you may be reaping from the software you are currently using. Whether you are a business owner or manager of a pod of real estate agents, your main concern will be weighing the potential benefits you will reap against the cost of implementing a new solution. Are any learning-curve headaches worth the eventual promise of a paperless office? Will the chosen real estate software actually consolidate all client and physical asset information? What happens when your deployed real estate software can’t seem to handle your mid-sized REALTOR® firm?
Online reviews, then, are your ammo. On G2 Crowd, the reviews are written by real users who aren’t software experts, so you can rely on their feedback to narrow down your software short list to ones that will work for your specific business needs. Additionally, many software products offer demos or free trials, so you can try out the ones you’re uncertain about.
Real estate software is a comprehensive realm, one that offers solutions that can optimize a specific real estate business function or the entirety of a real estate agency or business.
We recommend identifying current processes or systems that aren’t performing up to par within your business before checking out all the subcategories that exist within our real estate software parent category.
For more information on how to run an HOA and other real estate concerns, check out What Is an HOA (+4 Best Homeowners Association Management Software).