Real estate office software is a must-have for any realty business, regardless of size. The problem is, though, that there are literally dozens of different software platforms to choose from. How do you decide on one that's right for your real estate office?
That's where this guide comes in. Here you'll find out what types of features to look for, which features to avoid, and how choosing the best real estate office software solution will benefit your own business, no matter what facet of real estate it inhabits.
Your first step in choosing the best real estate office software for your business is determining just what your needs are. Are you a real estate broker? You're going to need back office software that integrates with your existing MLS and CRM services. Are you a real estate investor? You're going to need property management software that helps with tenant accounting and unit management. Does your company handle a little bit of everything? Your software will have to as well.
Once you make this determination, your choices naturally begin to sort themselves out. You're not going to need a Buildium software account if you're a real estate broker that doesn't manage investment properties, for example -- and if you are a property manager but don't handle brokerage services, a software platform like Brokermint is going to provide little in the way of utility and aid to you. Considering how access to these software platforms can be costly, it's important to not pay for features you'll never use.
Not paying for features you're not using is obviously a smart move. Yet at the same time, not paying enough for the features you do need means that you might not be getting the best bang for your buck. The old saying that "free advice is worth exactly what you paid for it" comes into play here; while there are a number of free or low-cost real estate office software programs out there, this doesn't mean that they'll work well enough for you and your needs.
Low-cost software definitely has a place. They're a boon for brand new real estate businesses that might not have a lot of capital to devote to overhead. At the same time, professional service providers like real estate brokers or investors need robust toolsets that may only be available from companies that charge a bit more for access to those features. At the same token, make sure that the software provider you're going with is charging a fair rate. The real estate support software industry is highly competitive; use available tools like comparison sites to find the best deals.
Choosing the right software platform for your real estate business isn't anything you should do lightly. Choosing one not right for you doesn't just make running your business harder -- it could also pose problems if you try to replace your software with a more appropriate one. This is especially true if the software program you initially chose doesn't have very good data export or migration capabilities!
In other words, there's a lot riding on your decision. Taking your time, weighing your options, and selecting the best one for your particular real estate company is one surefire method to ensure you do choose the real estate office software suite that will support your company for years to come.