Managing the real estate portfolio of a company is not an easy task. This task surely needs resources and time as well. The real estate portfolio management is extremely detailed oriented and has no scope for any kind of errors. A single mistake can cost thousands of rupees to an organisation. In this scenario, having the knowledge of commercial real estate software is crucial.
Data Management and Documentation
A real estate portfolio generates tonnes of data which need reams of papers. Management of the leases, correspondences, and other documents is a herculean task. A commercial real estate software typically has a document management feature that would keep the smallest of data and records.
More than just managing the documents, the software is a single point for data management. Through this single point acting as a repository, the data then can be populated to every feature of the software.
The real estate software would help your business by conducting a deep drill down analysis of the data and cost. This detailed cost analysis throws a light on the owned and leased spaces. Moreover, this analysis compares more than mere costs. It compares costs relative to size, employee capacity and the production. This can be further drilled down to specific cost items as well. The over-all cost analysis help optimize the real estate operations.
Benchmarking of Portfolio
Portfolio benchmarking is performed on the same data by the real estate software. The benchmarking analysis also helps in creating a model that can identify the properties outside and within the norms. A real estate software should also guide you benchmark your properties against the other properties in the market. With so much data at your disposal, you can make an aware decision regarding your properties – which to retain and which to discard.
Collaboration & Reporting
Ease of availability of data at one place makes it easy to pull and share with the concerned stakeholders. Data in various formats like tables, charts, and graphs help you to analyse it through various lenses. The real estate software can be utilised by multiple users making it easy to share, collaborate, and gain insights within the organisation.
Date Management Abilities
A typical real estate manager has to keep a track of all the important milestones for their each property. With their crowded schedule, this most of the times are very difficult. A sophisticated real estate software would also help the real estate managers to populate and track the important dates for each property making sure none of them is missed.
Calculating and Tracking The Mileage
For most of the real estate managers, the driving expense is one of the major expense for them. While filing taxes by businesses, the expenses are claimed as deductions. A real estate software would also assist in calculating and keep a track of the mileage not only for a day but for a whole work year. This makes it easy for businesses when deductions are to be calculated during taxations.
A property can have different status and it is a huge task to take care of the status of each property. A status changes multiple times while on the sale to the actual close happens. Traditional ways of keeping the track are an administrative headache and can cause human errors as well. The real estate software helps to update the property status real time saving the significant amount of time, money, efforts, and paperwork. This free time can then be utilised in developing and managing more properties. This tracking feature also gives required analytics. While a property changes its status during the deal, it can be analysed that if property deal fails then at what stage the deal fails.
Property Tracking and Tagging
A real estate software also help in tagging the property along with tracking it. Each real estate manager can analyse and track the properties which are selling better and which they can sell better. It is possible that one manager can sell a 2 BHK flat better and other can sell villas better. This data when analysed is a gold mine for the business as a manager can be given the kind of properties they are good at selling making sure that each manager is performing to their efficiencies. This information can be easily shared in excel. But, it makes the data cumbersome and difficult to analyse and tap the unexplored opportunities.
Real estate software enables the real estate industry to focus and simplify the tasks. The crucial information related to properties, their statuses, and descriptions can be managed through the real estate software from Plutomen Technologies. The analysis associated with the data is what will help gain an edge over others in the market.
A reliable and efficient way to organise the associated activities and helping more efficient in client service, this software is the one to consider. From handling the tasks to creating a dashboard for the all the data generated; From lead nurturing to handling all operations, the decision making for each property is easy with the software.
In the current competing environment, a real estate software is a real help in order to establish the business. If you also wish to enhance your efficiency, lower working costs, simplify the main operations, analyse market trends, understand buying behaviour of the customer, boost your sales, and achieve targets, then connect with Plutomen Technologies for your real estate software needs. Get in touch with us at firstname.lastname@example.org