Technology has always managed to change the way through which businesses transactions take place. There is no doubt that the most benefited industry due to these changes would be the real estate industry.
With new and improved efficiencies, the days of online listings, e-signing, and virtual tours are here. People who lived before these changes know the impact that technology has had on the real estate industry.
With this sudden move to the mobile world, the main focus is on some other dimension rather than efficiency. Not only is the paperless transaction the norm right now, but there are some other changes, as well.
Facts And Figures about Property Management In Real Estate
According to a survey by the National Association of Realtors, about 51% of the people take the help of the internet in order to find out their homes.
The property listings which have a place in the real estate websites are the reason why people choose these websites in the first place.
Apart from that, the real estate world has got tremendous workload and pressure which can be too much for humans. So, having a property management app will be a great help in such cases.
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Top Websites Using Property Management Software Technology
Amongst the list of the property management software options and apps, there are a few names that stand out. One of the websites that have managed to gain the attention of people is Zillow.
The website ranks first when it comes to the property listing and management. Apart from that, this website also has a property management app. And the application also offers the same type of user experience as the web portal.
One will easily be able to view all the property listings and that too on the way. There are high-quality images and other additional features such as maps and geolocation and so much more.
The technology which has been used in these apps and website is definitely more advanced.
Some of The Latest Technologies In Property Management Software
With the advent of technology, there are new technologies emerging with time. These technologies are no doubt helping the real estate industry.
In this post, we will have a discussion about the different technologies which might be useful for the real estate industry of incorporated in a property management software.
Blockchain in Real Estate
The infamous cryptocurrency technology now has a place in the real estate world. It is one of the main digital databases that record all the transactions. That too, without any third party interference.
Well, blockchain technology has managed to sell some of the properties last year. Also, there are some real estate blockchain companies that have recently opened up.
All of this means blockchain has a very important role to play in the world of real estate.
AR and VR in Real Estate
Virtual Reality is quickly on the verge of increasing because of the fast rate at which it is progressing. The entire tech will be a 29.7 billion dollar industry by the year 2020.
With the help of VR, the potential buyers will be able to have a virtual property tour. No matter where they are in the world, having a 360-degree tour of the property is possible with this new advancement of technology.
That means the properties will all be available for inspection almost all the time. Hence, the clients and agents will be able to save a lot of money and time while they are increasing engagement and efficiency.
Apart from that, Augmented Reality applications help in the superimposition of the image generated by a computer. This is of great use when they need to virtually see how their decorations would look in their new home.
AR also helps in showcasing the true potential of a space that is not yet finished. The buyers will be able to see their desirable lifestyle with the help of the AR technology. Also, it decreases the time that they have to spend in the market.
Read about how AR and VR are impacting the real estate industry here.
Another one of the tech trends which can help in the real estate property listing is the push technology.
Now, this technology has been in the world for a couple of years. But the recent popularity of the trend is something that people need to consider at the moment.
It is also said that the trend will go on and become more and more popular with time. As more agencies start to get their own apps on smartphones, this technology will keep on rising.
With Push technology, agencies can send certain content alerts on their behalf to the customers. The alerts would appear on the locked screen of the smartphone.
Also, these alerts will find their place in other notifications so that the users can be easily notified for sure. This will ultimately help in lead generation for sure.
Real Estate Bots
The modern-day consumers expect immediacy. Hence they want to have answers to the questions and they also have to have them now.
That’s where these real estate bots come to help. Voice bots and chatbots are new innovations. These virtual assistants help on answering queries and extending customer support.
Also, they help in managing the expectations which customers have. As a result, the owners can focus on other aspects of the real estate business.
Several websites are using this technology to keep their customers satisfied. There are multiple chatbots such as ChatFuel and CRIBZ that use technology to spread larger messages.
These bots also provide timely assistance to those who might be in the need for it.
Most people these days have smartphones. More than half of the population now invests on online search for finding rental properties. So, the CRMs need to have a smartphone application nowadays.
Such applications will further help a lot in getting property data and accessing contacts.
This just doesn’t decrease the downtime but it also allows some easy collaboration too. People can conduct open homes during the day and inspections in
the afternoon. Property management with the help of CRM will be very easy.
One of the most popular trends in the real estate world would be the trend of Automation. The tech trend is widely spread from social media channels to online chat and from emails to property accounting.
Invoice processing is also a part of it. With automation, there is now an easy way of performing several tasks in the world of real estate.
Must-Have Features In A Property Management App Software
Since every single real estate business these days focuses on property management, the apps need to have certain features compatible with ongoing demands.
So, it is important for new websites to incorporate certain features into their software as well.
Here are some of the must-have features in a real estate property management app.
Videos are certainly important for making property listing interesting. Standing out amongst all the other marketing strategies, videos are one of the most
popular methods in use. Hence, the businesses need to focus on creating 3D showcasing features in their property management apps.
Photos With Audio
The property management options for the software are something that provides photos with certain audio features. These are the features that help in the navigation of the properties. The audio voice is present in the picture and it provides descriptions about the property.
This way, the presentation of the property listings is a lot more interesting and hence more people click on the websites.
It is essential to exchange views when it comes to the real estate business. A result of proper interaction, there is an increase in productivity and the creativity of any particular project.
Geo-location and maps are really important when it comes to real estate websites and software. The clients need to know all about the location of the properties so that they can make an informed decision.
With the help of features such as geo-location and Maps, the software can make it easier for people to find out properties with ease.
How Much Does It Cost To Develop A Property Management App?
While there are pretty much the same factors that decide the cost of every single property management application, the choices are often different for a different website.
In order to develop a proper property management app, one needs to focus on many different areas: content, app design, software options, coding, content, and UX/UI.
The cost of the building and development of the app will depend on the services that are provided in the app. Also, the features of the application will be the deciding factor.
So, it is safe to say that the cost of the application would differ from one website to another. However, as an estimate, the total cost of the property management app development can cost between $20k to $30k.