Real Estate Software: Enhancing Leasing and Property Management

This project analyzes a real estate software solution designed to address data challenges within the industry, specifically focusing on leasing and management. The software aims to improve data structuring, documentation, and overall business operations by providing tools for property tracking, lease management, and agent assistance. It includes a SWOT analysis, highlighting strengths such as solid demographics and transit access, while also acknowledging weaknesses like co-tenancy challenges and tax complexities. The project emphasizes the software's marketability in developed countries and its potential to streamline processes, reduce costs, and enhance efficiency. It concludes by advocating for the elimination of data silos and the adoption of structured databases to improve decision-making in the real estate sector. The solution also references various research papers to support the claims and analysis.

Running Head- THE REAL ESTATE SOFTWARE
1
The real estate software
(Student’s name)
(Institution’s Name)

Running Head- THE REAL ESTATE SOFTWARE
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The real estate software
Data matters to real estate businesses, but having good data matters even more. In a world that is
characterized by increasing uncertainties and complexities. Making the right business decisions
depends on the ability to analyze an increasing volume of information and to trust the insights
obtained. This means that having good quality information is critical to a company’s success.
The real estate sector has long faced real problems when it comes to data availability and quality.
These problems arise partly because of the very nature of the real estate industry. Much of the
information firms need to manage their portfolios is held by a wide range of different,
interrelated parties. From owners to property managers to appraisers, lawyers, advisors and
brokers, each element in the real estate investment ecosystem holds their own piece of the data.
This complex web makes it difficult to aggregate and analyze the data needed to see the full
picture.
Identifying the key data stakeholders can solve part of this problem. However, even when
it is clear where the data can be found, there is no guarantee that each party in the chain will have
collected their information in a comprehensive or consistent way. Global players face an
additional problem, in that there are regional nuances and differences between asset classes in
terms of the breadth and depth of data required to manage them. To manage an office portfolio in
London requires different data than to manage a retail portfolio in Italy or a logistics facility in
Germany. That adds further complexity to obtaining the right information in the right format
from both external and internal sources.
From a business model perspective, RealTec companies target the traditional
inefficiencies and antiquated processes of the real estate sector. From a product innovation
perspective, RealTech companies target innovative software, hardware and other core
technologies, as well as advancements in building materials, fixtures, fittings and systems.
Generally, RealTech companies fall into one of the following categories:
• Urban Planning
• Design & Construction
• Search, Sales & Acquisition, and
• Leasing & Management.

THE REAL ESTATE SOFTWARE
With the development in field of information technology, new innovative software
solutions are being announced to run the business operation adequately. To help solve these data
problems, I decided to come up with a real estate software programme that mainly deals with
leasing and management. The business development frame software’s keep in mind the business
objectives that are relevant to a real estate sector. The software program helps in making the
overall structuring of data and its documentation in an easy manner, which indeed make the
overall running of complicated business operation in a smooth manner. Herein, the RealTech
company chooses the above-mentioned software solution for professionalized expertise
knowledge, cost-efficient mechanism and customer-centric approach to secure fast and
competent business units (López, Santos and Montero, 2010). Since the basic requirement in real
estate business is to maintain a track of areas that are vacant keeping a hard copy of the same is a
cumbersome task. Also, it is difficult to keep transparency of such data. The real-estate software
helps in redefining the clarity in the tracking of property details in a graphical format and also in
real time with a comprehensive database. This software will help the real estate agents identify
which commercial or residential leases are about to expire and which property will be open to
customers soon. Many real estate companies have their data put together, and for one to check
the details of a given house, they have to pull the files individually. With this software, all an
agent needs is a click, and all the information is made available to them.
These realtech will help the agents in processes such as;
 List and search services
 Peer-to-peer leasing
 Inspection management
 Transaction management
 Tenant screening
 Lease and revenue management
 Smart building platforms and artificial intelligence
 In-venue marketing
 Broker back-office and infrastructure
 CRM and administration elucidations
 Property marketing and sales solutions including social marketing and marketing
automation

THE REAL ESTATE SOFTWARE
Furthermore, the software helps in harnessing different tools, which assist agents in
developing programs for meeting the specified real estate needs. As this software takes
preferably less time in performing the multiple tasks and delivering apt information thus
improves the overall efficiency and reducing considerable costs (Krause and Bitter, 2012). It is
also a structured and planned process assisting in eliminating any form of human errors and
therefore maintaining an overall consistency. Apart from these other important benefits that a
business software carrier out are:
1. Helps in handling overall management tasks efficiently
2. It is time, cost and labour efficient.
3. All form of data is safely secured and stored.
4. It helps in prevention of probable human errors.
5. The business progress is tracked efficiently.
For reaping the specified benefits, it is important that right software is chosen keeping in mind
the overall budget and business needs.
SWOT Analysis
S T R E N G T H S W E A K N E S S
E S
OPPORTUNITI
ES
T H R E A
T S
Solid Demographics Weak co-tenancies at
ageing centres
Recovering economy
.will provide
expansion
opportunities to
business.
National overstored
conditions
High Traffic counts
(Auto Access)
Comparatively high
Cook County taxes
New uses emerging
for big vacant box
Wrong perception
based on racial
character
Community
incentives for
People don’t like to
use new technology
Changing national,
racial perceptions
Shrinkage of capital

THE REAL ESTATE SOFTWARE
development (the “post-racial
economy)
Parcels sized for all
types of development
Owners satisfied with
existing conditions
will not be willing to
make investment for
new tenants
Transit access Attempts to recover
sunk costs.
The key strengths of employing the RealTech software help in increasing its efficiency
and capitalizing the profits it seeks to provide. The strengths like solid as well as strengthening
demographics showcase housing demands. The economic importance is not only the impact on
real estate the fact is changing demographics of a married-working couple with children have
more to do with the economic boom. The current company software is its ability to forecast the
population growth and populations average income. Also, traffic count is a significant
component in site selection. The software helps in reading the traffic counts and serves a guide
for tallying the location effectiveness (Greenwood et al., 2010). Developers, retailers,
advertisers, insurance agencies and government department benefits from the 360-degree view
from traffic patterns. The traffic is measured by way of not only counting the vehicles passing by
from the potent location but also gain an accurate assessment of traffic volumes, congestion and
demographics using real-time data. Moreover, when a real estate looks forward to the
community for meeting its goals, often software help in stating the financial incentives that can
be availed in are like grants, loan facility as well as a tax credit (Brooks and Tsolacos, 2010).
The key challenge for real estate is to recognize the source of capital, compete for it effectively,
negotiating best terms, structuring and overall deal and staying compliant with regulation
(Urbanski and Dent, 2011). The software helps in effectively meeting those challenges with
efficiency.

THE REAL ESTATE SOFTWARE
Also, the software provides information of different form of development for instance
residential area, agricultural areas, industrial areas, development areas, utility personnel,
commercial areas etc. the RealTech is served with all the information regarding all types of
property classification and thus makes it easier for meeting the current use standards. The
assessor value can also be ascertained on the basis of the value of the property (Bouchouicha and
Ftiti, 2012). Lastly, a key strength of employing software in RealTech is the transit access. As
per the emerging trends currently prevailing in Real Estate is offering properties along or
nearside mass transit lines. It is seen that Canada’s economic strength plays a prominent role in
appealing places for investors. The software plays a significant role in keeping the information
about the transit access as an attractive investment in large cities.
Apart from the key strengths there are nonetheless some key weaknesses also persisting from the
use of software in real-estate business. As a real estate professionals acknowledge, co-tenancy as
one of the most profoundly negotiated factors in the retail lease. The provision is difficult to be
introduced in software as the actions cannot be controlled and rent stream could be severely
affected. The choice of co-tenancy or sub-tenancy is dependent on the personal situation and thus
requires permits, which makes it difficult to be inculcated in software. The next weakness is
regarding the cook country taxes of current 21st century. The tax collection of the property has
been standard and not in tune with the current cooks country records (Pivo and Fisher, 2011).
Thus cook country in required to be integrated into new software, its data analytics and the
overall organization system to make the entire process efficient as well as accurate hopefully.
The absence of this technology can make it difficult to understand the property taxed, and the
inclusion of the same can help in enhancing homeowners overall online experience and
transparency. The real estate dealers are required to deal with real market property on behalf of
owners. The software’s are though introduced in the sector, but its practice is not encouraged
within the industry. A lot of any deals are lost due to the incompetence of agents in promptly
understanding client’s needs, and the software is used to make the process smooth. But lacking
in providing training of software utility within the industry makes this approach ineffective
(Brock and Pierce-Eislen, 2011). Also, there is seen that often owners are satisfied with existing
conditions and uninterested in investing for new tenants, which makes the overall concept in
vain. Lastly, it can be seen that RealTech though gains a lot of merits from the software but is
not able to recover the sunk cost.

THE REAL ESTATE SOFTWARE
Target market
Agents are looking for ways to automate what they do so they can actually spend more
time with their clients—not doing paperwork or follow-ups that can and should, be
automated at this point. And as such my, real estate software is what they need. Property
management companies to are of late interested in automated work. They are tired of heavy
loads of paperwork. For that reason, the software is very marketable with both the agents and
property management companies too.
Developed countries depend highly on realtech technologies. These countries include
Canada, Russia, China, Britain, Australia, France, Germany, Japan and the united states. The real
estate software could very well be marketable in these countries.
In conclusion, organizations should work to eliminate the issue of data silos. That means
designating official systems of record for critical data. Senior management should make clear
which part of the business has responsibility for collecting and maintaining each data set.
Competing sources of data should be eliminated through a deliberate process of retiring systems
and spreadsheets or by developing integrations to feed those systems from the designated
systems of record.
For too long the real estate industry has accepted the problems of poor quality data and
muddled through. Yet, as Arthur Nielsen, founder of AC Nielsen research, said of good data,
“The price of light is less than the cost of darkness.” It is now time for firms in the real estate
industry to take the practical steps, and make the investment required, to secure the high-quality
data they need. That will help them shine a light on the critical decisions they have to make in a
fast moving, highly regulated and complex world.
Organizations should work to reduce reliance on spreadsheets by moving their critical data
into structured and controlled databases. Historically, data warehousing has been a very
expensive alternative to spreadsheets and data silos but solutions like Voyanta and other new
cloud-based data management platforms are ushering in an age of affordable and fast-to-
implement data warehousing for the real estate sector. And with my new software in the market,
it will help improve the real estate business.

Running Head- THE REAL ESTATE SOFTWARE
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References
Bouchouicha, R. & Ftiti, Z., (2012). Real estate markets and the macroeconomy: A dynamic
coherence framework. Economic Modelling, 29(5), pp.1820-1829.
Brock, R.G., & Pierce-Eislen, Inc., (2011). Method and system for providing real estate
information. U.S. Patent 8,060,450.
Brooks, C. & Tsolacos, S., (2010). Real estate modelling and forecasting. Cambridge
University Press.
Greenwood, D., Lockley, S., Malsane, S. & Matthews, J., (2010). Automated compliance
checking using building information models. In The Construction, Building and Real
Estate Research Conference of the Royal Institution of Chartered Surveyors, Paris 2nd-
3rd September. RICS.
Krause, A.L. & Bitter, C., (2012). Spatial econometrics, land values and sustainability: Trends
in real estate valuation research. Cities, 29, pp.S19-S25.
López, V., Santos, M. & Montero, J., (2010).Fuzzy specification in real estate market decision
making. International Journal of Computational Intelligence Systems, 3(1), pp.8-20.
Pivo, G. & Fisher, J.D., (2011). The walkability premium in commercial real estate
investments. Real Estate Economics, 39(2), pp.185-219.
Team, F. M. E . (2013) SWOT Analysis strategy skills. Team FME-WWW
Urbanski, M.W. & Dent, C.D., Heavy Hammer, Inc., (2011). Method, system, and software for
geographically focused network advertising. U.S. Patent 7,958,007.