Software’s Role in the Real Estate Industry

Software's Role in the Real Estate Industry 

Software is everywhere nowadays, undergirding the work people do, the way they communicate, how they manage finances, and where they shop, eat, play and learn. As a concept, these program sets encompass just about every notable thing in the modern digital world, from apps to website deployment, communication platforms to media players. 
Naturally, software has increasingly become an essential element in how people approach real estate too. The traditionally analog industry used to power itself with a mixture of physical documentation, manual processes and word-of-mouth marketing, but that’s beginning to change. 
This article charts the evolution of real estate by spotlighting software’s newfound role in the industry – focusing our attention on practitioner, consumer and property management software. 

Agent Software: Prospecting and CRM 

There are several customer relationship management (CRM) software options on the market. Most are geared toward streamlining the lead generation and prospecting processes for brokerages. They often feature communication tools like emailing, text and “click-to-call,” making it easier for agents to coordinate their marketing efforts and manage their pipelines.  
While these CRM software solutions undoubtedly play a significant role in the real estate industry, they are seeing disruption by real estate digital marketplaces that highlight consumers. This leads us to the next type of software on the list – consumer software. 

Consumer Software: Finding Agents, Properties 

Various types of software weave through the real estate consumer marketplace, but the most notable examples are deployed to help buyers/sellers search for properties and practitioners. 
On the least innovative end of the spectrum, these examples include digital manifestations of traditional MLS listings, as well as agent CRMs disguised as consumer resources. 
But some companies, like Nobul, are using technology to disrupt the real estate industry, facilitating unprecedented access and transparency for consumers. “Our platform enables buyers, and sellers to openly see the transaction histories, pricing, reviews and services of real estate agents,” Nobul CEO Regan McGee tells Superb Crew. 
In his interview, he explains that “Agents can then actively compete for the prospective buyers’ business.” This is a radical departure from most software types, which tackle the issue of deal flow for agents. Nobul, by contrast, is software that empowers consumers. 
The company is also introducing a suite of auxiliary offerings like mortgage and insurance services to aid consumers through the complex transaction. 

Property Management Software 

Property managers have benefited immensely from the deployment and utilization of software. The job of a property manager requires spinning several different plates: rent collection, maintenance schedules, vacancy management, accounting, tenant communication, marketing, etc. In a bygone era, the best property managers pulled it off through sheer grit and long hours – but, more often, managers settled for doing a passable job, neglecting some tasks to focus on others. 
Property management software allows managers to consolidate their tasks in a single platform. They can collect rent, chat with tenants, formalize a maintenance cycle, and complete maintenance tasks using a suite of tools. GlobeNewswire reports that the global property management software market is expected to grow significantly in the next few years. 
These are just a few examples of how software has reshaped the real estate industry, aiding practitioners, empowering consumers and simplifying property management. 
 
 
 
 
 

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