How To Build A Real Estate Management System From Scratch

Everybody needs food, clothing, and shelter, and while the first two are things that you can easily buy, shelter - having a physical space to live, carry out business transactions, etc. is essential. Wherever you are in the world, shelter is always necessary, hence real estate. Real estate pertains to the land, structures, crops, etc. attached to an immovable property with a unique location. Real estate can be used for various purposes, including commercial, industrial, residential, and more. When you think of real estate, think of housing and landed property.  The Real in the phrase real estate talks about the fact that it exists and is accurate. It can be seen but can not be moved. Over the years, investing in real estate, whether you are buying or selling, has proven not just to be lucrative but productive. The renting industry is constantly growing because people are moving into homes, and offices are being created daily. Landed properties appreciate the longer you keep them. Many take advantage of this opportunity and end up cashing out by smiling at the bank. With this, you don't just recuperate your capital but also make extra profit. When it comes to business, the goal is to make a profit, and with real estate, you can achieve this. As the world evolves, real estate has moved from word of mouth and physical contact to online. The online world accords users with many possibilities, and real estate businessmen and women are not left out. Feel free to own a real estate company and manage your operation adequately. So this article will look at how to build a real estate management system from scratch.

What Is A Real Estate Management System?

Real estate businesses such as property development companies, facility management or service-oriented companies, construction project management companies, and real estate agencies all require a real estate management system. As technology takes over, property managers and real estate management companies constantly seek ways to manage, organize, and carry out their daily activities. Now the real estate management system handles the allocation, property data, client information, property analysis, and everything that has to do with real estate.  A real estate management system gives accountable data and information regarding all that goes on in your real estate business. This way, you no longer have to worry about writing down all the information you generate from the properties you handle and client needs. All you need to do is input data into the system, and it is safe and secure. Clients now have a better way of communicating and funding transactions with enterprises from anywhere in the world. Customer relationship management (CRM) is incorporated into real estate management systems. Hence, better customer service relations are guaranteed. 

Types Of Real Estate Management Systems

The delineation of the various real estate management systems makes it more defined. It also gives users a clear view of why and how they can vet what they want. So here are the types of real estate management systems;

1. Hostel And Hotel Management System

Hostel and hotel management systems help compile and outline the necessary information from guests. This system covers prices, guest information and data, and room management services. This type of real estate management system is suitable for people who are into hotels and hostels.

2. Industrial Property Management System

Gone are the days when people have to operate their business in the real estate world manually. Now business owners can manage and attend to their organizational needs more efficiently and quickly with industrial property management systems. This system incorporates the functions and features of Enterprise Resource Planning (ERP) in industrial activities. 

3. Condo Management System

A condominium, also known as a condo, is a building that houses different sects of people. The condo management system provides tools for managing facilities in this category. They make available the various analytics tools needed for data complication and production concerning properties in this category. 

4. Tenant Management System

The tenant management system is also known as the apartment management system. The tenant management system is the perfect system for you as a real estate management company for storing tenant information, tracking and collecting rent, and generally gathering the routine information of the tenant and in the building. Landlords are not left out; the tenant management system creates a platform where tenants can communicate effortlessly with their landlords.

5. Office Management System

It only makes sense that the operating system of a real estate management service for a condo differs from the operational system of a real estate management service for an office. This system possesses all the needed features to manage a retail building and office space. 

Why Should You Build A Real Estate Management System?

You should build a real estate management system because;

• It makes accounting and inevitable financial transactions clear and precise.
• It gives users easy access to information.
• It gives tenants a platform to air their complaints and lodge requests.
• With its cloud-based feature, real estate management systems alert users of existing problems that require attention.
• Creates a platform that enables tenants and contractors to carry out financial transactions 
• Data culmination and analysis become easy.

Technologies Used In Building A Real Estate Management System

Knowing the right technology allows you to maximize your real estate management system right from the development phase. Identifying if a real estate management system is for web or mobile is vital. So here are the technologies to make use of;

Mobile

Here you develop a real estate management system for mobile users.  IOS

• For the language, you can make use of Objective-C, 
• For the analytics, you can use Firebase, AppsFlyer, etc. 
• For the data, you can use CryptoSwift, CoreData, etc.

Android

• For the language, you can make use of Koltin, Java, etc
• For the analytics, you can use Firebase, AppsFlyer, etc. 
• For the data, you can make use of Realm, SQLite, etc.

Web

Here you develop a real estate management system for web users. You can make use of React.js, And Node.js.

How To Build A Real Estate Management System

You can build a real estate management system as an individual or a company. So here is how to build a real estate management system;

1. Business Analytics

Researching the company's analytics is the first step to building a real estate management system. A proper understanding of business analytics in processes and development creates room to know the various points in business growth. At this stage, you create a road map outlining what you need to achieve, the goals and needs of the company via the real estate management system, etc. Also, the road map at this stage enables team members to understand the development process better.

2. Planning For The Project

Rome was not built in a day; creating a real estate management system requires time, a workforce, and money. Hence have a timeline that can accommodate your goal following the type of real estate management system you want to build. Come up with a budget, and do not be moved by whatever comes up. Meaning has a fixed cost, an overall cost that is put aside to be spent on the entire project. This will guide you in knowing when you are overspending and how to retrace your steps. Also, have an experienced workforce with the skill to build the real estate management system. Planning is essential when you want to build a real estate management system.

3. Design Specification

This stage is critical, and proper documentation of how the entire system should look and its features is produced at this stage. Here you need to write down the features you want to incorporate into the real estate management system, having identified the type of real estate management system you are building. You are halfway through the entire process when you have proper documentation of what and how you want your system to be. Also, at this stage, the tech stack you will use is a determinant of the platform and further guides the features you will incorporate into the system.

4. Design UX/UI

Having identified the technology, next, you move into the UX and UI stages. The UI, i.e., user interface, speaks about what users will see in terms of icons, buttons, etc. the UX, i.e., user experience, is how the real estate management system will interact with the users. Aim for a not-too-complex interface because this can make or break the user experience.

5. Development Of Front-End And Backend

At this stage, the developer should use Node.js for the backend. The backend stores and manipulates data. It also deals with APIs, servers, and everything that makes up the interface users see on the front end. For the front end, the developer should use tools like React.js, Angular, etc. This phrase also includes writing all the needed codes from all your documentation.

6. Testing Phrase

The testing phase is significant because it determines if all the hard work will pay off. Ensure to test all the codes and development processes. You can use performance testing tools, automated testing tools, and the like. 

7. Deployment And Integration

After the testing phase, the real estate management system is put out for users to use, and their feedback should be gathered and implemented to make corrections and improvements.

8. Release

Releasing the real estate management system for users having tested it is what happens in this phrase. Familiarise your employees with the system and ensure they know how to use it. 

Must-Have Features In A Real Estate Management System

1. CRM Tool

CRM stands for Customer Relationship Management, and CRM software automatically helps you manage all the data of your potential and existing customers. Leads from different platforms are collected in the CRM software and automatically assigned to the right salesperson. The features of a CRM include;

• Better data organization
• Better communication among team members
• Better accessibility and automation of your business

Hence a real estate management system must possess CRM software as it helps store all the data and information the business will be using.

2. Lease Software

The lease software is a tool that handles all the data and information of your lease properties. This tool is perfect for real estate companies that lease out properties. As a developer building a real estate management system, the lease tool comes into play as it manages the budgeting, project management, financial aspects, and all that has to do with the leased property. Lease software enables businesses in this field and the property management system to have adequate and necessary information to communicate better with their clients.

3. ERP System

Real estate rental and service providers face unique challenges that affect their revenue and growth. A distinct lack of process automation results in businesses spending more time and resources handling property units. Generating leads and converting them into sales comes at a much higher price than manual workflow. Now incorporating a suite of ERP applications customized for real estate businesses as one of your features makes life easy. With the ERP software, you get the following;

• The ERP system is designed to simplify workflow through digital processes.
• Streamline customer communication.
• Optimize services for efficiency.
• Automate reductant manual tasks.
• Store data in the cloud.
• Have a financial structure and sound financial management.
• The ERP system handles accounting and budgeting.
• It also handles tax accounting.

It enables the overall property management system and gives tailored solutions.

4. Inventory tool

The inventory tool is a crucial component of a real estate management system because it is necessary for any business in this field involved in buying and selling properties. This tool does the following;

• Inventory management
• Inventor record of necessary data
• Analyses the data of used inventory

5. Brokerage Tool

With the brokerage tool, you have access to all the information from your broker. Including this in your property management system lets you keep track of all that goes on with your brokers.

6. Data Analytics Tool

A real estate management system must possess the data analytics feature to aid the processing and representation of data in a friendly and understandable format. A lot of data will go into the system; hence this feature makes it easy to analyze and provide the correct data at the right time.

7. Landlord/Tenant Portal

In the real estate world, the words landlords and tenant are standard terms used to identify ownership of landed property and who is renting it for a given period. The landlord/tenant portal is essential in a real estate management system. The landlord/tenant portal enables accessible communication between the parties involved, assessment of requests, etc.

8. Integration With Various Platforms

A real estate management system should have this feature to communicate with various listing and rental platforms.

What Are The Three 'C's Of A Real Estate Management System?

1. Certainty 

Certainty is one of the three Cs of a real estate management system, in the sense that when consumers know that you know what you're doing in the real estate sphere, they will come back. Now enterprises and individuals using real estate management systems can keep track of their business operations and transactions like price lists, analytics, sales, etc. It is tiring to consumers when they do not have access to the complete information they need. This happens because real estate is not a field where buyers can know all about it. So, When things are blurry, consumers can cope. A real estate management system that gives the organization certainty is vital. Certainty in terms of data and all there is to know about labor real estate. When consumers know that they can bank on your company to provide them with the necessary information that they would need regarding property, it makes for success.

2. Communication

Communication is one of the foundations of a real estate management system because if the system cannot communicate effectively and efficiently via the data and information it provides, then the aim of this system is not yet achieved. A real estate management system makes all the transactions and needed data easily accessible, organized, and managed appropriately for users in this field. Hence, this system should produce the needed information when required, aid tenants in communicating effectively with landlords, and ensure financial transactions amidst other factors are well achieved. When building a real estate management system, you should have the word communication at the back of your mind.

3. Convenience

The convenience of every real estate management system goes a long in making life comfortable for users. Users can use the real estate management system anywhere to conveniently carry out transactions and access information. So when building a real estate management system, ensure the features align with the platform and you use the right technology to achieve convenience for users at the end of the day.

Benefits Of A Real Estate Management System

1. Access To Information 

A real estate management system provides multiple portals for your clients, tenants, contractors, and owners. With this system, you can track customer maintenance requests, plan work, create work orders, and assign them to your employers. 

2. Ease In Communication 

People in the real estate world can send tenants, contractors, and property owners emails, messages, and push notifications using a real estate management system. Interaction becomes easy with this system and enables better working relationships. 

3. Data Analysis 

A real estate management system eliminates all guesswork and delivers a firm base for all your actions. You can update all the initial data to the system, allowing you to run a thorough analysis and provide detailed insights into your onsite assets. Data analysis is one of the benefits of using a real estate management system for your business. 

4. Security And Access

Another fantastic benefit of a real estate management system is its security for your data and information. Your data stored in the cloud frees it from being lost forever. You can access and update information if and when needed giving your business much more flexibility. You can access your data from anywhere because it is in the cloud. Following this, you can be sure that you have security where your real estate data is concerned. 

5. Saves Time

Real estate management systems can save time when carrying out your day-to-day operations. Instead of having a physical meeting which requires a lot, this system can send messages and notifications to the parties involved when there is a need.

6. Monitor Finance

With the fantastic features of a real estate management system, you can monitor your finance operation and accounting and get the right results when carrying out transactions.

7. Manageable

A critical benefit of a real estate management system is that it is manageable. The various software incorporated into the system makes it a smooth work process. This system allows users to store many things, like images of properties. This way, there is accountability because the images of these landed properties can be present, enabling landlords and tenants to know what to expect.

Our Expertise In Developing A Real Estate Management System

Our company provides development solutions in which real estate management systems are one of them. We have the expertise, and our team of developers is equipped with the needed knowledge and skills to bring your ideas to life. Our utmost priority is understanding what you want and visualizing the exact desire. Our developers use the right technologies when developing real estate management systems for web and mobile. We develop user-friendly products that work perfectly well, covering user needs and expectations. Thanks to our development solutions, we have numerous software that tends to the custom needs of various companies and clients. Today technology is taking over, and staying on trend is one area we are not lacking. We incorporate all the right tools and ensure that the best is what we offer.

Conclusion

Many people are trooping into the real estate industry because it has proven to be a perfect way to make money. Landed property is a lucrative investment; you will make money from it no matter the location. People will always need a place to stay (a home), a place to carry out business transactions (an office), and various spaces for different activities. Hence, the real estate niche is evergreen and will always be in demand. Mobirevo is a website development company, and we carry our clients along via constant checks to ensure that we are on track as we handle your project. At our company, we are invested in making you smile and creating ease for you in this niche. Hence we provide development solutions like the real estate management system that makes you more productive and organized as a business. We have the portfolio, expertise, and workforce to bring your dream to life. It is not just about the creation process; having a product that reflects your organization's intended vision and mission is what we provide. Contact us today to discuss how we can assist you in making your online visibility a huge success and get a free quote. We promise the most cost-effective and high-quality items available. Our team at Mobirevo strives to provide unrivaled services to all of our valued clients. You can also check out our case study page to see our client’s portfolio and better understand the quality of products we deliver. Want to receive more content like this? You can sign up for our newsletter, which features curated opinions, and web app development tools for building remarkable digital assets. If you sign up for our weekly newsletter, you will be the first to know when we publish awesome content like this. You can also visit our blog to see other content created with love by our amazing team.