On-demand Real Estate Solutions: How it is Beneficial in the Era of Digitalization?
Despite the real estate is playing the biggest role in the economy, but managing real estate is not as easy as it seems. Attracting the tenants is not the only problem for the real estate owners, but they are also facing major issues at the management level. On-Demand Real Estate Solutions are only the best source of this problem. But to make it more simple and clear first of all, let’s discuss the actual real estate’s problems.
Table of Contents
Most of the commercial state owners coping with the issue of retaining the customers or tenants for their real estate. Whether they have a wonderful infrastructure, but, in reality, they are lacking in something else that we will discuss ahead.
The second challenging issue for the owners of the real estate, they are incapable of handling the marketing plan to meet the renter’s expectations due to which some of the information presented to renters consists of human errors, impractical terms, and an unresponsive leasing process.
Sometimes issues observed in the clerical documents which further affect the dead and surveys of a real estate property. Another problem related to real estate is the problem of managing the transactions.
The real estate owners face difficulty in attaining authenticity and credibility. Any threats to real estate owners can pose a negative impact on the mind of the buyers or tenants.
Time and money consumption
The management of the tenant’s rent, verification of a property, and transactions, etc. takes a lot of time that requires the efforts of the number of employees for the management of the data. As a result, it enhances the burden of the budget on the owners.
Market Research Reports
As per the Reports of the National Association of Realtors, 2018, out of the total percentage of the people who uses the technology to search for the real estate solutions & services, approximately 76% of all buyers found a home on mobile devices, whereas, only 17% of all buyers found an agent on mobile devices.
As every problem has a solution, the issues of the real estate owners can be resolved with the help of real estate software development. These days, every industry is successfully managed with the help of IT solutions. Real estate’s issues can also be handled with the help of on-demand software, CRM, etc.
How on-demand Real Estate solutions are beneficial?
Owning real estate is not a walk in the park. It needs your time, efforts, hard work, creativity, etc. To manage your work effectively, you can shift it from manual work to online work. The real estate industry is booming day by day and people use technological gadgets to find property and houses. You can manage all your hectics with a real estate software with features like augmented reality to provide your customers with a more personal experience. Due to easy access to the real estate facilities, it will enhance the customer’s interest.
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On-demand technology for real estate solutions can be embedded with features like:-
- Find Property
- Shortlist Property
- Appointment with Owner
- Contact Owner
Available On-Demand Real Estate Solutions:
Property Rental Automation:
An appropriate on demand real estate solution and property rental automation for property management to reduce the burden of work on the management team. This platform has modules like data management, rent management, visitor management, lease management, accounts, etc.
Online Listing Properties for Sales and Rent:
Effective solution for the apartment owners as it provides easy access to the features like agents can add their apartments, display the units of apartment, and locate their properties on google maps, etc. Such types of solutions are helpful for both the owners and leasers.
Apartment Management Solution:
A cloud-based solution that helps the managers to handle all the activities related to the selling and buying process whether it is in-office, or fully remote. It includes features like tracking of tenants and lease, fully controlled accounts, automated rents, and reminders, etc.
Residential Mortgage Solutions Management:
A robust solution for the management of the leading process. This software works amazingly to make accurate risk analysis and assessments, history of credit loans, quick loan process, etc. It contains features like mortgage management, refinances management, filters, calculator, tracker, evaluation, etc.
Pros of Real Estate Software Development:-
One of the major benefits of having on-demand real estate CRM is that it will make the connectivity between the owners and brokers with their tenants easier. They can register or manage the transaction or other necessary details remotely.
No Need of Middlemen:
The middlemen play an important role in promoting the business among renters. With on-demand IT solutions, there is a direct interaction between owners and renters through online meetings. It can also be done with the installation of the chatbots if you don’t want to break the line of contact with the customers.
With the digital transformation of real estate through PropTech, the real estate, owners can submit the property, offer deals and at the same time, a seller can get its complete detail on the internet. With this, tenants and realtors would able to do better property rental management.
As we all know, real estate demands efforts and time if it is managed manually. but with the use of on-demand technology, can save time as well as a cost during the delivery of service. It also boosts up the procedure of selling and buying of properties.
Cons of On-demand Solutions for Real Estate:-
Earlier, there was always a need for an agent between the buyers and sellers to verify the information. An Agent was considered as a trust factor for them. But with the arrival of the real estate ERP solutions in the market eliminates the need for agents due to which personal interaction between sellers and buyers reduced.
Verification of Property Owners:
Despite the on-demand technology make the registration of a user easier but it makes the verification of the owners challenging. So, it enhances the danger of fraud.
Although technology has taken the real estate industry to the next level, there is room for improvement through on-demand real estate solutions. We believe that on-demand technology and real estate automation has a lot more to contribute towards the real estate industry, we have just wait for it and watch what tech-savvy people will offer in the same industry with innovative inventions.