The real estate industry has a crucial role in various countries’ economies. However, just like any other industry, this industry is also facing a major challenge: growing digital transformation.
Earlier, there would be big real-estate companies with their offices across the country. Well, they are still there, but most of them have now adopted digitization too. With the rising use of the internet, real-estate companies are switching to portals and or apps to improve customer experience and streamline processes.
In this article, you’ll first learn about the major challenges in the real estate industry in the absence of real estate portal software. In the later part, you’ll also get an overview of how a real-estate portal can help you overcome them.
A real estate portal can help you manage a huge database of your customers, agents, proprietors, etc. You can not only manage the database in a centralized location but also share it with the involved parties as and when required, securely. It helps you optimize your overall real estate operations and bring more efficiency to your organization.
Challenges in the Real Estate Industry
Managing Customers’, Proprietors’, and Agents’ Data Online
When you have a large database of customers, proprietors, and agents, their management is challenging. If you manage all the new-joined customers’ proprietors’, properties’, or agents’ data in spreadsheets or offline, it gets more complex. The complexities increase further as there are so many properties spread across different geographical locations.
As a result, there are various mistakes like typing wrong details, missing some entries mistakenly, or duplicate entries, etc., that one can make. These wrong entries can cause issues to build up further, leading to difficulties in tracking the entries.
Leads’ Tracking and Monitoring
Nowadays, an online presence is indispensable for virtually any industry. The same holds for a real estate company too. The problem starts when a real estate company makes its presence online across various platforms, including social media, various sites, emails, etc.
Whenever any new customer reaches out to you, they may do that via one or more of the ways you’ve provided. It can be a phone call, SMS, email, or message on social media. The issue is that compiling all of these inquiries or orders across various places becomes really difficult.
Tracking and monitoring the leads that search for or enquire about your listed properties is also not easy. Every time a customer searches for something, noting details like their preferences, location, and other information manually isn’t feasible. Managing them via spreadsheets also gives challenges as the information keeps getting amassed.
It may lead to various issues like late responses to queries, missing out on various potential opportunities, and reduced customer satisfaction.
Booking or Payment Errors
If different customers are searching for different properties, managing bookings or visits poses challenges. Sometimes, two or more agents in the same geographical location may accidentally book a visit/tour of the same property for the same individual.
It may also happen that different agents may book the same property for sale from two different parties due to an error. These errors may end up costing a loss of some valuable customers. They also impact the reliability and credibility of the company in the long run. These errors are more common when there is a lack of centralized management of bookings and leads.
Management of Agents and Commissions
Agent management requires accuracy, caution, and of course, efficiency. While you can easily manage a few agents without a centralized system, managing a large pool of agents may be cumbersome.
If you have a big real estate company with properties across the country and a large pool of agents, you may face problems. If you onboard different agents and decide and calculate their commissions separately as per properties and performance individually, it may be time-consuming.
The verification process of the new agents who send you requests to join your company may also be time-intensive. Monitoring and tracking individual agents’ performance can also be difficult when done without a central storage system.
When it comes to agents, they may also face problems in managing customers without a central system. They may have to ask for each new lead’s details, enter them in a spreadsheet, and track them separately. Furthermore, they may also have to spend more time fetching an individual lead’s details as and when needed.
They may also face problems in gathering and responding to different incoming inquiries from customers across different platforms. It may lead to a decrease in the efficiency of management of customers by agents.
Real Estate Portal Software: All Problems, One Solution
Now you know the problems facing the real estate industry are in the absence of a centralized management system (or portal). So, the next thing is to understand why you should integrate a real estate portal and how it can help streamline your real estate business.
With the help of a fully functional real estate portal and proper management software, you can effectively manage all back-end options. Here, you can create, modify, or remove listings as per your needs.
Custom Dashboard
If you are a real estate company’s owner, a real estate portal helps you manage everything from a single custom dashboard. You can easily track and control entities and change the appearance of the dashboard at your convenience anytime.
Simple and Centralized Management of Customers, Agents, and Properties
A real estate portal helps you manage all the customers, agents, and properties’ details centrally. You can easily add, delete, or edit any customer’s, agent’s, or property’s information on the go right from within the portal. This helps you boost the speed and efficiency of your business management.
Enhanced Security
A real estate portal enables you to create various user groups and roles. This helps you segregate users as per their roles and restrict access to different operations as per their roles. With the right privileges and rights to the right staff members, you can enhance the security of your business.
Easy Tracking of Customers and Leads
With all the customers’ and leads’ details in one place, brokers and sellers find it easy to track them. They can simply view the count of visits and leads, traffic, clicks, and decide strategies accordingly.
Want a portal to manage your real estate business operations smoothly and more efficiently? Our real estate portal development services can help you build the best-in-class portal for your business.
Multi-Channel Communication
A real estate property centralizes all the communication mediums. The prospects and leads can communicate with proprietors and agents via any medium they want among those available.
Enhanced Customer Experience
The customers find it engaging when they can directly search for the property they want. A portal provides them with the freedom to apply various filters like price, location, type, etc., and save time in wading through long property lists.
They can also search the properties based on their current location without entering the full address by using geolocation. They can wishlist various properties they find suitable to pick from to buy or rent in the future.
Centralization of Operations
With a real estate portal, the centralization of operations is possible. In general, most of the buyers and sellers will contact your company online only. This helps you reduce your dependence on the offline presence at various locations. Online centralized management of all the operations right from inquiries to tour bookings to final transactions helps your business grow fast.
CRMJetty: Your Ultimate Real Estate Portal Development Partner
A real estate portal comes in handy when you want a solution to overcome the challenges in the real estate industry. If you are a real estate company’s owner and are looking for a way to smoothen your business operations, CRMJetty can be your portal partner.
CRMJetty provides portal development services for several industries. With 14 years of experience, we provide ready-to-integrate real estate portal solutions. We also offer customization services to make our portal fit your business logic.
If you want, we can go the extra mile and develop a real estate portal from the ground up exclusively for your needs. Our development team gathers your requirements, analyzes them, builds a development roadmap, and gives you a deadline. We also provide updates about the progress. Once the portal is ready, our QA team ensures that the portal is market-ready and hands it over to you once it finds everything fine. Our marketing team can also guide you through various ways to promote your portal and increase the outreach initially.
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