Commercial real estate can be a tricky business. With various stakeholders scattered across multiple contiguous industries, it can be challenging to keep everyone — and everything — on the same page. Tight development schedules, payment deadlines and contractual obligations can make matters more complex than is necessary.
Ordinary CRE platforms leave a lot to be desired in terms of personalization. The truth is, not all commercial real estate operations are made equal. You shouldn’t have to settle for a cookie-cutter platform that’s just OK.
So, what’s the solution? Commercial real estate (CRE) software that’s custom-built with your unique purpose and business needs in mind.
What Is Commercial Real Estate Software?
Commercial real estate software is the lifeblood of the industry. It helps a real estate agent, agency or other CRE professional organize and conduct day-to-day business.
Effective CRE software combines commercial real estate CRM with all the data and analytical necessities that come with commercial property management. A purpose-built platform will help you manage relationships between all stakeholders who might be involved in commercial real estate, crunch numbers, digest data and serve reports.
This requires coherency and communication between the:
- Buyer
- Seller
- Renter
- Broker
- Property manager
- Developer
- Real estate agent
- Financial institution
Inadequate software and disconnected processes can drive a wedge between stakeholders, slowing things down and increasing the risk of costly mistakes. A custom solution prevents these issues.
What Should Robust CRE Software Include?
CRE software that’s tailor-made for your organization should offer features and functionality that help you overcome your greatest challenges and optimize your strengths. On a basic level, that means tools that help you visualize, analyze, report and track real estate data — preferably in near real-time. That includes anything from property data to renter data and everything in between, including:
- Commercial property data
- Transactional data
- Ownership data
- Loan and lender data
- Renter data
- Market data
On a higher, more customized level, your CRE platform should help you work more efficiently and increase revenue for commercial properties. To do that, it needs to automate traditionally manual rental and lease management processes. That may include building tenant portals for easy rent roll and payment, intuitive maintenance request processes, tenant screening and built-in accounting software to help balance the books.
The Benefits of Custom Commercial Property Management Software
A tailored solution that’s designed to meet your specific needs can help you reach your commercial real estate goals faster. Here are a few benefits and advantages you can expect with purpose-built, custom software that gives you total management over your commercial real estate.
Increased Efficiency and Productivity
Automating repetitive tasks and streamlining processes is one of the many appealing benefits of CRE software. Custom solutions can significantly enhance the efficiency and productivity of property management operations. Custom workflows eliminate the need for things like manual data entry, which helps to reduce errors and allows you to handle a greater number of properties and tenants easier.
And, centralized data management and reporting capabilities mean that you can access critical information quickly for better and faster decision-making.
Better Integration with Third-Party Systems
Traditional plug-and-play CRE software is often designed with a bias that favors itself and its best interests. This can make it frustrating for real estate agencies and property managers with a toolbelt of software solutions and platforms they use that may not integrate nicely. This can lead to bottlenecks and hiccups in a wealth of different processes where accuracy is paramount, such as accounting.
A custom-built solution puts the power in your hands to decide the integrations necessary for smooth CRE operations — and we can help build them.
Cost Savings
Readily available CRE software has succumbed to the subscription-based business model that’s running rampant these days. As a result, you’re stuck paying a hefty monthly or annual fee for software that you might only use half of the time, and that isn’t personalized for you at all.
When we build you custom, proprietary CRE software, you own it — no monthly or annual fees. Your costs won’t increase as you add more users or increase your use of the software. It’s an investment that pays dividends in the long term, just like your commercial property.
Enhanced Tenant Experience
Intuitive self-service tenant portals are the name of the game if you want to optimize the tenant experience. A custom-built CRE platform that’s created with your tenants in mind helps save both parties time. For example, a feature that allows tenants to access their accounts and pay rent, or submit maintenance requests, view lease agreements and communicate with property managers or owners conveniently will be greatly appreciated by users.
A Custom Solution Tailored to Your Unique Real Estate Needs
When real estate challenges abound, CRE professionals require a sophisticated, streamlined, and responsive platform that drives results and mitigates errors. Better yet, a custom-built solution means you can create a platform that fits your exact needs.Â
A robust and personalized piece of CRE software should also integrate with your real estate website to pull in data from advanced filters, favoring tools to generate more leads. Curious about a real estate app, too? We can build the perfect companion to your custom CRE platform and website to create a trinity of total management of your real estate business.
