5 Real Estate Asset Management Tips to Boost your Market share
The real estate industry is continuing to evolve into something less about ownership and more about investment. The IBISWorld report has shown that “Over the past five years, the Real Estate Asset Management & Consulting in the US industry has grown by 3.1% to reach revenue of $61bn in 2018. In the same timeframe, the number of businesses has grown by 2.3% and the number of employees has grown by 2.6%.” In this industry, the asset manager is responsible for administrative, financial, marketing and tracking tasks to achieve the objectives of the facility owner.
If you are a fragment of a real estate asset management corporation, then your first preference is to hunt the maximum number of property owners to operate their assets. From this point, we suggest that marketing is a priority for you. The following are 5 marketing tricks you can implement to increase your market share:
- Know your target audience very well, understand its needs and fulfill them straightforward.
- List all the services you provide on your website so it’s easy for the clients to hire you.
- Give attention to your customer’s feedback and reviews, that’s how you will get new clients.
- Use a local SEO and content strategy to promote your search appearance chances.
- Engage in one to one connection with your clients to gain trust and referrals.
After knowing these little tips that can make a big difference in your work, follow us in this article to know how a real estate software can assist you in your errands, what the best apps in market are right now in this field and what the 2019 trends for real estate services are.
The Ultimate Benefits you gain from using a Real Estate Management Software in your Business
As the industry of property management is expanding, you need to evolve too to keep up with this change. There’s no longer room for data storage on papers or even fixed files on desktops. The cloud-based software solved this mess and provided you with multiple solutions to operate your work and ensures high accuracy with maximum profit. Implementing a real estate management software in your work has plentiful benefits and here are some of them:
- Flexible communication: If you ever suffered from the complexity of communication between you, your property manager and your tenants. You can end it all now with a real estate management software that offers a connecting platform for your associates.
- Cost reduction: With a cloud property management software there will be no need for large servers that cost a lot and require an IT team to install, run and maintain it. Now you can choose and customize the type of your cloud storage according to your data size.
- Cloud back-up: No more document loss, your data is going to be backed up on the cloud and you can update it anytime from any device. You will never fear from a device break down that will cost you thousands of dollars to get your data back.
- Minimize disputes: It’s a well-known fact that as the security and accuracy in any process increase ,the defects and disputes will decrease. Mostly the litigations problems arise from tenant’s un-payment, maintenance problems or document missing. You can easily avoid all of this with the appropriate property management software.
- Regular maintenance: A property management app will remind you of the fixed maintenance operations you need to do regularly, schedule for repairing and reminds you to check on completion. You can use an app as PlanRadar in all your maintenance services to save defect tickets and track them afterward.
Knowing the benefits takes you into the decision-making step. Which software I should choose and what are the best apps in the market now? Next is the answer.
Best Real Estate Online Property Management Software for 2019
You are a property owner, asset manager or new to property management services sector? Do you want to implement new software in your work? First, evaluate the size of your business, are you managing from 1 to 10 properties, + 10 or +100? Second, clarify what kind of tasks you want the software to support? Third, plan for your budget, determine how much exactly you tend to pay for this real estate management app? And finally, after making your decision surely you want to know what the best property management software is available in the market. Here’s the answer:
Buildium: A real estate software that automates your repetitive chores as tracking your payment and making statistical reports. In addition to managing the financial stuff as the banking accounts in a fully secure way.
Rentec Direct: The software provides you with an online general ledger for administrative and financial purposes. In this ledger, you can add all the information about payments, renters, bank accounts or transfers. The app is simple and easy to use and allows you to make an automatic tenant screening.
MRI software: A software that is specified in commercial real estate to track and analyze the business performance. The app automates the lease calculation and financial reporting tasks and its accessed through an online web-based portal.
Because technology is always the answer for any industry breakthrough, we’ve gathered for you the main technology trends in the real estate management sector, check them and pick what matches with your business.
Where Will Online Property Management System Services Be in 1 Year from Now?
The fast pace of the property management industry is pressing on the involving organizations to develop and innovate in the same direction. In 2019 there is a lot of evolving technology trends that upgraded the business environment into a new level, and these are some of them:
- Green approach
The key role of a successful real estate business is getting the maximum profit with the minimum consumption of resources. With the help of sustainable installments as solar electricity generators, self-control HVAC system or smart sensors you can reduce your energy consumption and hence reduce your costs.
- Cloud-based technology
The real estate sector has shifted from using the normal servers into the online cloud and it’s continuing to take over the market more and more. Its estimated that in 2019 the software as a service SaaS will increase by 26% and may reach to increase by 32% in 2020. The real estate investment companies chose to go through this path to minimize the costs spent on purchasing and maintaining large servers that can be replaced by a network cloud. In addition to the more flexible options this software provides as mobile apps, you can now access your main data anywhere and from any device. Security is also one of the main reasons for this radical change, cloud-based apps tend to use more secure data centers that protect your confidential project information.
- Augmented reality
You no longer need to visit the facility you want to check or rent, now with the augmented reality technology you can have a walk through the property while staying in your place. Although the capital needed to implement this kind of technology is still high, however, the trend is booming because it’s enhancing property marketing.
- Business Intelligence
Either if you are a property owner or a real estate investor you know well the struggle of the future market predictions. The new business intelligence system is specialized in gathering data from multiple resources and analyze them to give you an anticipated insight for the market conditions. This market analysis will help you to take better decisions based on evidence.
At the end we hope that you’ve built an allover view about the real estate management sector. Ride the wave of technology and upgrade your real estate and construction management process, pick an affordable, simple property management software that matches with your business needs and size.