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Top Real Estate Software Your Teams and Agents Need for 2022

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Real Estate has already experienced some perks of digitalization: services such as Airbnb and Booking.com, for example, allow renters and landlords to streamline their interactions.

But there are things online property shopping just can’t provide. How can a prospective tenant sign a lease or walk around the property online?

In this article, we’ll take a look at how more advanced technology can enhance the online property shopping experience and make real estate agents’ work more effective.

Table of contents:

Real Estate Software: The State of Market

Customers of Real Estate Software

Real Estate Software Solutions Your Teams Need for 2022

Trends in the Real Estate Software Market

How Much Does It Cost to Create Custom Real Estate Software?

Our Success Story

Real Estate Software: The State of Market

According to a recent report from IndustryARC, the real estate software market is expected to grow significantly over the period of 2021-2026.

Here are some major factors driving industry growth:

  • Better scalability;
  • Cost-effectiveness;
  • Continual technological growth;
  • Rising business productivity standards.
Real estate software driving factors
Real estate software driving factors

As Reportlinker claims, the size of the global custom real estate software market was valued at $10.45 billion in 2020. In 2021, it is expected to reach $11.72 billion and continue to grow at a CAGR of 12.435%. By 2026, the market will reach $21.12 billion.

Real estate software market evaluation
Real estate software market evaluation

Meeting this growing demand is an abundance of companies providing real estate software to a variety of clients. Here are some of the vendors of property management software that contribute most to that growth:

  • Accruent. Offer solutions for real estate, facilities, and asset management. The solutions include integration and business analytics features;
  • AMSI. Deliver several types of software such as resident & lead to lease web portals, property management suites, and financial report solutions.
  • Appfolio. Provide software to support the full cycle of property management: solutions for communication, servicing, accounting, maintenance, staff training, marketing, and leasing.

In 2020, the real estate market was shaken up by the COVID-19 pandemic. Many companies switched to remote working: Facebook, Twitter, Google, and others allowed staff to work from home.

With almost everybody gone from the office, businesses looked into scaling down office space. For instance, Pinterest paid $89.5 million to terminate their San Francisco office lease.

In Europe, the use of office space dropped by 32% in the first half of 2020.

As the pandemic continues, companies are bringing some workers back to the office, but have put plans to let everybody go back on hold. Most tech vendors in North America have allowed employees to work from home indefinitely.

Real estate companies are adapting to the new reality, too, focusing on offering services online in a more effective way.

Customers of Real Estate Software

Real estate is a complex industry that serves the needs of a huge variety of customers, who have a wide variety of needs, wishes, and problems they want to solve.

Therefore it’s essential for real estate software vendors to provide customizable solutions that cater to each client’s specific needs.

Let’s take a look at what customers expect from real estate apps in 2022 and how various solutions can help solve their problems.

  • Property buyers. Clients who want to buy a property would like a software solution that allows them to easily browse available options, review the ones they like, and talk to an agent about them. In addition, online payment plan calculators and virtual tours would be outstanding features to attract new clients.
  • Owners and renters. Property owners would benefit greatly from software that allows for accurate asset evaluation and renovation analysis.

    Those renting out property would love a solution that helps them list their offerings.

    Renters also need software that presents them with their real estate options in any location. They would benefit from detailed search filtering, allowing them to find the property they are looking for within their budget, a listing with a ton of relevant information such as floor plan, photographs, details about amenities and the neighborhood, and so on. Another great addition is a built-in chat function to let renters talk to a landlord and discuss the conditions.

  • Developers and renovators. Companies dealing with building and renovating existing properties need to work efficiently with their resources. Paired with property development software, Enterprise Resource Planning software, or ERP, can help companies track how they manage their resources, analyze data, and find ways to optimize their workflows.
  • Facilitators. Specialists who help property owners and buyers reach a deal can make good use of the best CRM for real estate which allows them to keep track of every client they have.
Client Software
Property buyers Listing apps
Owners and renters Property management software, listing apps
Developers and renovators ERP solutions, service work software
Facilitators CRM

So, the real estate software market serves all kinds of customers and carries out all kinds of tasks. Now, let’s take a closer look at some major real estate solutions and discuss the problems they solve.

Real Estate Software Solutions Your Teams Need for 2022

As we’ve established, real estate software includes a wide selection of solutions to facilitate property management, client interactions, and various internal processes.

Let’s consider some categories of custom real estate software to see how they help real estate businesses achieve their goals.

Property management software

Property management software is a complex solution that allows real estate companies to keep track of all of their properties and manage them.

The software usually includes an app for use by owners, landlords, buyers, and tenants: they can interact through the app to list properties, review them, and negotiate purchasing or renting conditions.

In addition, the software provides a mortgage calculator to help buyers negotiate a deal that works for them.

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All of the data on properties that the app collects is visualized and presented in the form of easily readable dashboards. This gives managers a clear picture of their assets and helps optimize their work.

Property management software
Property management software

AppFolio’s property management solution is currently considered one of the best on the market. The application is packed with features to the brim, including:

  • Rent collection and utility billing;
  • Accounting tools;
  • Maintenance requests;
  • Marketing tools;
  • Tenant screening;
  • Customizable online leases.
Appfolio property management software
Appfolio property management software

Listing software and rental apps

Rental apps let property owners and landlords list their real estate for others to buy and rent.

These apps present available properties and provide potential buyers or renters with every detail they want to know: the property’s location and neighborhood, condition, pricing, available amenities, and pictures.

For buyers and tenants, the app can offer comparison features, allowing them to make a well-informed choice. Also, potential tenants can apply for a property right through the app and talk to the landlord to get more information via chat.

Listing software
Listing software helps renters to easily find apartments

A great example of a listing and rental app would be Zumper. This app is aimed at making leasing a long-term rental as seamless as booking a hotel. Using the software, renters can:

  • Search through the app’s content using detailed criteria;
  • Get notifications when a property that fits the preferred criteria appears on the app;
  • Apply for a property online;
  • Make deposits right through the app.
Zumper rental app
Zumper rental app

Service work software

Property development software can help renovators and developers track their expenses and resources and manage construction projects.

Such software also includes the following features:

  • Project scheduling;
  • Task management;
  • Financial management;
  • Customer and service management.

Speaking of great service work software, one example is BuilderTREND. This solution comes with everything needed for renovation or construction project management and budgeting. The app features a built-in CRM.

BuilderTREND service work software
BuilderTREND service work software

CRM for real estate

Customer relationship management systems are a great way for a business to keep track of every client they have and ensure that the sales process goes as smoothly as possible.

The software also provides data analytics features to help real estate agents get a better idea of their sales performance and see the company’s current strengths and weaknesses in a visual way that’s convenient to use.

For instance, one top real estate CRM, Contactually, offers several intelligent features on top of the usual package: the system is able to recommend the best time to send emails to clients and to prioritize tasks. For those who find themselves sending what feels like a million messages a day, there is also a template library.

Contactually CRM for real estate
Contactually CRM for real estate

Trends in the Real Estate Software Market

Andrei Kazakevich

Head of Production

Oversees all production processes and manages the Quality Assurance department. Develops the company’s IoT, AR, VR, AI, and ML expertise.

 

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Frequently Asked Questions

What type of software do real estate agents use?
How to choose a real estate CRM?
How do I develop real estate software?
Cost of virtual real estate software?

Read also

Digital Twins as a New IoT Milestone: How Do They Work?

How to Hire a Dedicated Development Team: A Complete Guide for Businesses for 2021

How Much Does It Cost to Make an App?

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