As innovative technologies continue to shape and influence the way we conduct business, there is little doubt that we live in a digital age. One major advantage of conducting business in the age of technology is the ability to leverage smart technology solutions to streamline your operations and increase profitability.
Real estate agencies around the world continue to leverage the power of property software and property portals to revolutionize the entire home selling and buying process. These easy to use solutions empower agents, brokers, and clients with more property and neighborhood information, for a smoother customer experience.
What is Property Software?
Property software empowers owners, property managers, and operators to streamline and automate the daily tasks affiliated with managing their properties. Additionally, property software helps owners, tenants, and managers to control their real estate portfolio to a greater degree in an increasingly competitive and ever-changing market.
The basic functions of property software include the following:
- Marketing – Commercial and residential real estate owners and operators can use specific property software solutions to market their properties to potential tenants and buyers.
- Lease management – With property software, both commercial and residential property managers can automate their leasing process by collecting/managing critical lease information in one convenient location. Additionally, lease management features include electronic signatures, rental applications, and document storage.
- Portfolio performance – With property software, property managers and real estate agents can make important portfolio decisions based on quantifiable data to determine how each property is performing.
- Accounting – Agents and managers can use property software to help their business perform/track accounts payable and receivable, electronic funds transfer, account reconciliations, and tax information.
What do Property Portals Actually Do?
According to recent statistics, 42% of home buyers report their first step in purchasing a property is to search online. Potential home buyers around the world are turning to the internet, leveraging the power and reach of property portals to search through property listings.
In its simplest form, a property portal allows agents and sellers to list their property online. Once listed in the property portal, potential buyers can search through the listings, establishing search criteria to meet their specific needs (such as square footage, number of bedrooms, neighborhoods, and much more). In particular, real estate agents can use property portals to enhance the way they manage their property business.
Thanks to an extensive database, property portals allow real estate agents to offer services to both buyers and sellers. On one hand, this interactive platform allows clients to search through properties based on geographical locations and specific search criteria to find their home. On the other hand, this interactive platform allows sellers to reach a broad range of potential buyers based on their search criteria.
When used in conjunction with property management solutions, property portals create an easy to manage back-end for your operations. This allows agents to add, remove or update the listings from any location.
In order to remain competitive in the real estate market, agents and brokers need to leverage the power and reach of property software and property portals to provide an enhanced buyer and seller experience. Contact a member of our team to learn more about how smart solutions can take your real estate business to new levels of success.