Real Estate Software Samples for Students †MyAssignmenthelp.com

Question: Discuss about the Real Estate Software. Answer: 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 companys 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. 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 softwares 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 (Lpez, 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 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: Helps in handling overall management tasks efficiently It is time, cost and labour All form of data is safely secured and stored. It helps in prevention of probable human errors. 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 STRENGTHS WEAKNESSES OPPORTUNITIES THREATS 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 development People dont like to use new technology Changing national, racial perceptions (the post-racial economy) Shrinkage of capital 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 traff ic 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. 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 Canadas 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 mak e 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 softwares 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 clients 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. Target market Agents are looking for ways to automate what they do so they can actually spend more time with their clientsnot 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 propertymanagement 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. 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. InThe 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. Lpez, 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.