Choosing the right real estate management tools ensures that you continue to meet your objectives as a real estate agency, landlord, or even property management company. Because managing and investing in real estate requires a multitude of tasks, using the proper software to automate and speed up any part of the process can greatly improve your workflow. The resources we’ve included below may be the exact tools you need to meet your financial and investment goals for the upcoming year.
Financial Close Management Platform
You can’t invest in real estate efficiently without investing in a reliable accounting platform. Using financial close automation software will help you streamline the process of closing out every month. This tool can be used by real estate agencies who want to save time and improve their overall workflow. With financial close management software like ReconArt, businesses only need to access one centralized repository for balance sheet reconciliations and other documents. It’s also a cloud-based program, which means it can be accessible to hundreds of users, and it’s always secure. Using a platform that expedites every step of the financial closing process is just one of many ways that a real estate business can invest in its success.
Author and real estate mentor David Lindahl once said, “The more properties you control with the least amount of money, the wealthier you become.” If you’re someone looking into investing in real estate, you need to guarantee that the properties you buy are actually worth the money. Controlling properties that cost you more than they are actually worth could easily put you in the red. Home-valuation tools provide you with numerous data points that can be used to compare estimates. Lindahl emphasizes the need to put as little money down as possible when it comes to investing. Some of these programs even use artificial intelligence to scour decades’ worth of information on a property and get an accurate picture of its value.
Are you a real estate agent having difficulty managing your leads? Not only will lead-generation software send you prospective buyers, but it also automates the ability to communicate with them. You can establish your budget and choose a territory to start collecting information on any prospects who may have been browsing online. Then, you can become a primary contact for a buyer and reach out when the time is right. Think follow-up funnels, voicemails, text messages, automated email responses, and more.
When it comes to real estate, it’s no question that organizing all of the paperwork and data involved can be a laborious process. Enter a data-sharing program that allows you to sync any documents and reports required in the leasing or buying process. Whether it’s credit reports or appraisals, the ability to share data quickly and easily is essential for property managers, real estate agents, buyers, or even tenants. You can access information in real-time, generate the agreements, and share them through the program securely.
At the end of the day, finances and real estate go hand in hand. If a business can’t keep up with its accounting process, this is bound to pose a hurdle to the business’s overall health. Real estate software should support full automation and integration for lead generation, home valuation, data sharing, and, most importantly, the financial close process. Plus, you shouldn’t have to worry about auditing readiness, which tends to be a concern for most business owners. When you use a cloud-based financial close solution like ReconArt for month-end or period-end processes, you can focus on what you do best. Choosing the best real estate resources helps you achieve your business goals.